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Andre45 [30]
2 years ago
8

The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicat

es that 8,000 direct labor-hours will be required in May. The variable overhead rate is $8.30 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $145,600 per month, which includes depreciation of $24,960. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for May should be: Multiple Choice $8.30 $26.50 $23.00
Business
1 answer:
Anna [14]2 years ago
5 0

Answer:

$26.50

Explanation:

The computation of the predetermined overhead rate is shown below:

= Variable overhead rate + fixed overhead rate

where,

Variable overhead rate is $8.30

And, the fixed overhead rate is

= $145,600 ÷ 8,000 direct labor hours

= $18.2

So, the predetermined overhead rate is

= $8.30+ $18.2

= $26.50

We simply added the available overhead rate and the fixed overhead rate so that the predetermined overhead rate could arrive

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On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on Nov
ivann1987 [24]

Answer: The answer is as follows:

Explanation:

Journal entries are as follows:

For October 31:

Cash  (400,000 × $18)                   $7,200,000

Common stock  (400,000 × $10)                                          $4,000,000

Paid in capital in excess of par value-common stock         $3,200,000

( record of issuing common stock)

For November 19:

Cash  (50,000 × $80)                    $4,000,000  

Preferred stock (50,000 × $75)                                             $3,750,000

Paid in capital in excess of par value-Preferred stock        $250,000

( record of issuing preferred stock)

8 0
3 years ago
State of Economy Probability of State of Economy Rate of Return if State Occurs Recession .32 − .11 Boom .68 .23 Calculate the e
butalik [34]

Answer:

1) Expected return is 12.12%

2) Portfolio beta is 1.2932

Explanation:

1)

The expected return can be calculated by multiplying the return in a particular state of economy by the probability of that state occuring.

The expected return = (0.32 * -0.11) + 0.68 * 0.23

Expected return = 0.1212 or 12.12%

b)

The portfolio beta is the the systematic riskiness of the portfolio that is unavoidable. The portfolio beta is the weighted average of the individual stock betas that form up the portfolio.

Thus the portfolio beta will be,

Portfolio beta = 0.33 * 1.02 + 0.2 * 1.08 + 0.37 * 1.48 + 0.1 * 1.93

Portfolio beta = 1.2932

4 0
3 years ago
Read 2 more answers
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST)
Aliun [14]

To create market stability.

6 0
3 years ago
Discuss the propriety of showing: a) treasury stock as an asset - b) ""gain"" or ""loss"" on sale of treasury stock as additions
r-ruslan [8.4K]

Answer:

a. Treasury stock cannot be shown as an asset because a company cannot buy itself.

b) Gain or loss on sale of treasury stock is not to be treated as income, it should be added or subtracted from share capital because it is a capital transaction.

c). Treasury stock is not an asset. Dividends received from treasury stock cannot be treated as income, it is only assets that generates income.

Explanation:

When corporations for some strategic reasons and the desire to maintain and stabilize the shareholders wealth decide to buy back some of its shares, that is what is known as treasury stock. It is also called reacquired stock

a. The treasury stock is like a corporation acquiring itself, so it cannot be shown as an asset, it is only a reclassification within the same balance sheet.

b. Gains or loss on sale of treasury stock is not an income transaction, it is a transaction that affects the share capital of the corporation and must be charged to the share capital not the income.

c. Since treasury stock is not an asset, dividend received on treasury stock is not to be treated as income, it is only assets that generates income. it should affect retained earnings.

6 0
3 years ago
Now that you have studied monopolistic competition, let's see how well you can distinguish a firm in a monopolistically competit
vlabodo [156]

Answer:

<u>Monopolistic Competition:</u>

4. a firm that faces a downward sloping demand curve.

<u>Perfect Competition:</u>

1. a firm that produces with excess capacity in

3. a firm that may earn in an economy profit or loss in the short run

5. a firm that that maximizes profits profit in the long by producing where MR = MC

<u>Both:</u>

2. a firm that has a firm that sets price greater than marginal cost.

Explanation:

7 0
3 years ago
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