1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kobusy [5.1K]
4 years ago
10

Richmond Heating & Cooling installs and services commercial heating and cooling systems. Richmond uses job costing to calcul

ate the cost of its jobs. Overhead is allocated to each job based on the number of direct labor hours spent on that job. At the beginning of the current year, Leisure estimated that its overhead for the coming year would be $66,750. It also anticipated using4,450 direct labor hours for the year. In November, Leisure started and completed the following two jobs:
Job 101 Job 102
Direct materials used $16,500 10,500
Direct labor hours used 195 72

Richmond paid a $30 per hour wage rate to the employees who worked on these Wo jobs.

Requirements:
a. What is Leisure's predetermined overhead rate based on direct labor hours?
b. Calculate the overhead to be allocated based on direct labor hours to each of the two jobs.
c. What is the total cost of Job 101? What is the total cost of Job 102?
Business
1 answer:
8_murik_8 [283]4 years ago
5 0

Answer:

Instructions are below.

Explanation:

First, we need to calculate the predetermined overhead rate:

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 66,750/4,450

Predetermined manufacturing overhead rate= 415 per direct labor hour

<u>Now, we can allocate overhead based on actual direct labor hours:</u>

<u></u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job 101= 195*15= $2,925

Job 102= 72*15= $1,080

<u>Finally, we can determine the total cost:</u>

<u></u>

Total cost= direct material + direct labor + allocated overhead

Job 101:

Total cost= 16,500 + 195*30 + 2,925

Total cost= $25,275

Job 102:

Total cost= 10,500 + 72*30 + 1,080

Total cost= $13,740

You might be interested in
7. Eva and Maria entered into a written contract pursuant to which Eva was to render decorating services for Maria for a total p
xxMikexx [17]

Answer:

(a) Eva endorsed the check, without making any further notations on it, deposited it and sued Maria for the remaining $15,000 she claims is due. Judgment for whom?

Maria's debt is settled (cancelled) because Eva accepted the check and did not write "under protest" or "without prejudice" when she endorsed it. This debt was an unliquidated debt since maria and Eva did not agree on the total amount due, but since Eva cashed the check without writing down any type of notation with respect to their disagreement, the debt will be considered settles.

(b) Instead of the facts in (a) assume that Eva wrote "under protest" on the check when she endorsed it and, after depositing it, sues Maria for $15,000. What result?

If Eva wrote under protest, then she is not accepting Maria's payment. She is entitled to cash the check because she might need the money, but she is making it clear that she doesn't agree with the settlement. Eva could win the suit (that also depends on other factors not specified in the question).

(c) Instead of the facts in (a) and (b), assume that Eva and Maria had a telephone conversation in which Eva agreed to take $60,000 in full satisfaction of Maria’s obligation under the contract. Maria then sent the check, with a letter referencing the telephone conversation. Eva wrote "under protest" on the check, endorsed and deposited it, and then sued Maria for $15,000. What result? Explain.

Unless Maria can prove that Eva agreed with the $60,000 payment, then a court would not even consider the telephone call and the outcome would be similar to question (b). The problem with oral agreements is that one party will say this and the other party will say something else. You need some type of proof in order for an oral agreement concerning a $75,000 (or even $60,000) dispute to be valid.

3 0
3 years ago
What is the term for malleolus
Basile [38]

Answer:a bony projection with a shape likened to a hammer head, especially each of those on either side of the ankle.

Explanation:a bony projection with a shape likened to a hammer head, especially each of those on either side of the ankle.

7 0
3 years ago
Why do equity holders care more about roe than about​ roa?
svetoff [14.1K]

C. ROE measures how much equity holders are​ earning, while ROA measures how efficiently the bank is being run.

ROE = net income/ shareholder's equity

ROA= net income/total assets

4 0
3 years ago
What are sources of income that can be used for debt service on municipal revenue bonds?
Zolol [24]

Answer:

Municipal Revenue bonds are bonds that are serviced from the income accrued from a project that the bond was used to embark on.

They can therefore be serviced by a variety of income methods that accrue from the projects such as;

  • User fees for using the asset built
  • Special taxes
  • Lease rentals in cases where the asset is leased out
  • Excise taxes
  • Other Non Ad-valorem taxes that result from benefits attached to usage of the asset built.

3 0
3 years ago
The Jackson Springs Coal Mine recently discovered that the mine was contaminating the local drinking water. Cleaning up the mine
expeople1 [14]

Answer:

Ethical :) brainliesst??

Explanation:

5 0
4 years ago
Other questions:
  • Spencer Chemical Corporation produces an oil-based chemical product which it sells to paint manufacturers. In 2019, the company
    11·1 answer
  • A local business woman noticed that after she had paid all the costs of conducting her business that year a substantial amount o
    15·2 answers
  • HELP ASAP, CORRECT ANSWER GETS BRAINLIEST
    5·2 answers
  • An entrepreneur is someone who
    15·2 answers
  • Exercise 8-17 Partial-year depreciation; disposal of plant asset LO P2 Rayya Co. purchases and installs a machine on January 1,
    11·1 answer
  • The first step in string goals is
    15·1 answer
  • Kevin has considered selling franchises of his very successful hardware store. however, he is concerned that the franchises will
    7·1 answer
  • If the rate of inflation is 4.8 %4.8%​, what nominal interest rate is necessary for you to earn a 2.2 %2.2% real interest rate o
    15·1 answer
  • Concrete terms can never be used in an abstract or symbolic way.
    15·2 answers
  • A study conducted by Yahoo! revealed that chocolate is the most popular flavor of ice cream in America. Now, Suppose a severe dr
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!