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rewona [7]
3 years ago
5

Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional labor hours. Overhead was esti

mated to be $150,000, direct professional labor hours were estimated to be 15,000, and direct professional labor cost was projected to be $225,000. During the year, Armour incurred actual overhead costs of $146,000, actual direct professional labor hours of 14,500, and actual direct labor cost of $222,000. By year-end, the firm's overhead was:
Business
1 answer:
Vikki [24]3 years ago
5 0

Answer:

The firm's overhead was $1,000 under-applied

Explanation:

For computing the firm overhead amount, first, we have to compute the predetermined overhead rate. The formula is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

= $150,000 ÷ 15,000 hours

= $10

Now we have to find the actual overhead which equal to

= Actual direct labor-hours × predetermined overhead rate

= 14,500 hours × $10

= $145,000

So, the firm overhead equals to

= Actual manufacturing overhead - actual overhead

= $146,000 - $145,000

= $1,000 under-applied

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What is the current yield for a $1000 corporate bond that pays 8.0 percent and has a current market value of $870?
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The current yield for a corporate bond = 9.19 %

Calculation :

Amount of annual interest = face value × rate of interest

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Do corporate bonds pay interest?

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What Is the Current Yield?

Current yield is an investment's annual income (interest or dividends) divided by the present price of the security. This measure examines the present price of a bond, instead of looking at its face value.

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4 0
1 year ago
Going to college is an expensive proposition. Determine whether the following costs of attending college are implicit or explici
ad-work [718]

Answer:

1. Time spent away from family is an implicit cost.

2. Transportation is an explicit cost

3. Forfeited working experience is an implicit cost

4. Books and materials is an explicit cost

5. Forgone earnings are an implicit cost

Explanation:

A college is an educational institution that provides opportunities for higher learning and specialized professional training. A decision to go to college should be conscious one that takes into consideration all the important aspects. The most important consideration is the cost of education, since attending college is usually an expensive proposition. One needs to consider the different costs that they will meet, whether implicitly or explicitly. Lets us consider the following implicit and explicit costs as shown;

1. Implicit cost: an implicit cost is a cost incurred without necessarily spending money. They are more of an opportunity cost that is calculated from the alternatives undertakings that one has sacrificed. An implicit cost is not an accounting cost but an economical cost that tends to consider options that are not actual expenditures. They are; time spent from family, forfeited working experience and forgone earnings. These are actually items that one sacrifices when he/she decides to go to college. Time spent from family is an implicit cost since one will spend most of his or her time in college. Attending college also means that one wont be able to go for a job and get some working experience while earning, therefor this is also an implicit cost. Explicit cost are determined by estimating the value of the activity sacrificed.

2. Explicit costs: an explicit cost is a type of accounting cost that needs one to actually spend money. It is an out of pocket cost where one has to use money to purchase a good or service. Examples are Books and materials. College students are often required to purchase specific books and materials for study. Transportation is also a cost that requires one to spend on bus fare or even cab fare to and from college. These are costs that require one to actually use money.

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