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max2010maxim [7]
2 years ago
10

Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,900 units (solar panels) in July a

nd 4,900 units in August. Each unit requires 5 hours of direct labor at a rate of $16 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August.
Business
1 answer:
Wewaii [24]2 years ago
7 0

Answer:

Overhead budget:

Variable overhead= 274,400

Fixed overhead= 180,000

Total overhead= $454,400

Explanation:

Giving the following information:

Production= 4,900 units

Each unit requires 5 hours of direct labor at a rate of $16 per hour.

Variable factory overhead is budgeted to be 70% of direct labor cost

Fixed factory overhead is $180,000 per month.

First, we need to determine the direct labor cost:

Direct labor cost= (4,900*5)*16= $392,000

Now, we can calculate the overhead budget:

Overhead budget:

Variable overhead= (0.7*392,000)= 274,400

Fixed overhead= 180,000

Total overhead= $454,400

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2 years ago
True or False? The United States does not have publicly financed health insurance specifically for the unemployed.
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True

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2 years ago
Which of the following is true about the ethics line
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Answer: All of the above

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d. All of the above.

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8 0
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Oscar Clemente is the manager of Forbes Division of Pitt, Inc., a manufacturer of biotech products. Forbes Division, which has $
inessss [21]

Answer:

Residual income is therefore $732,000.

Explanation:

This can be computed by following the following steps:

Step 1: Calculation of ending net book value

<u>Particulars                                           $'000    </u>

Beginning investment                         6,900

add: Additional investment                 8,100

Less: Depreciation - Other             <u>   (2,850)  </u>

Ending net book value                   <u>    12,150  </u>

Step 2: Calculation of Minimum required return

Minimum required return = Ending net book value * Required return rate = $12,150,000 * 12% = $1,458,000

Step 3: Calculation of profit (loss) on disposal

First year depreciation on investment = (Investment cost  - Salvage value) / Useful life = ($6,600,000 - $660,000) / 3 = $1,980,000

Profit (loss) on disposal = Salvage value - Investment cost  - First year depreciation on investment = $660,000 - $6,600,000 - $1,980,000 = $3,960,000 loss

Step 4: Calculation of residual income

<u>Particulars                                                       $'000    </u>

Given operating profit of the division             6,150

Less: Loss on disposal                                <u>  (3,960)  </u>

Revised operating income                             2,190

less: Minimum required return                   <u>   (1,458)  </u>

Residual income                                          <u>     732    </u>

Residual income is therefore $732,000.

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