Answer:
$83.4
Explanation:
Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.
For Michael, the tax will be calculated as follows.
for the$11200 earned in Dawson company
=0.6% x $7000
=0.06/100 x 7000
=0.006 x 7000
=$42
Amount earned working at McBribe
=0.06% x 6900
=0.006 x $6900
=$41.4
Total to be paid by the two companies
=$42 + $ 41.4
=$83.4
The answer would be C worker strikes due to cultural differences
Answer:
$360
Explanation:
We can compute net income to be
The ending balance of retained earnings = Beginning balance of retained earnings + net income - dividend paid.
Where,
Dividend = $482
Change in retained earnings = $122
Hence,
Net income = Dividend - Change in retained earnings
= $482 - $122
Net income = $360
Answer:
Amount of underapplied or overapplied overhead cost for the year
$97000 - Underapplied
Schedule of cost of goods manufactured for the year
Direct Material 3885000
Direct Labor 60000
Overheads 376000
Total Manufacturing Costs 4321000
Add Opening Inventory WIP 400000
Less Closing Inventory WIP (700000)
Cost of Goods Manufactured 4021000
Explanation:
Amount of underapplied or overapplied overhead cost for the year
Underapplied or Overapplied overhead cost =Actual Overhead - Applied Overhead
$473000-$376000= $ 97000
Schedule of cost of goods manufactured for the year
<em>Direct Materials Calculation </em>
Opening 200000
Add Purchases 4000000
Available 4200000
Less Closing Material 300000
Materials Consumed 3900000
Less Indirect Materials 15000
Direct Materials Consumed 3885000
Answer:
Check the explanation
Explanation:
Sales price variance = (Actual price - Budgeted price) * Actual units sold
Product R : ($25 - $26) * 123000 = $123000 unfavorable
Product S:($20 - $22) * 162700 = $325400 unfavorable
Product T: ($10 - $20) * 54000 = $540000 unfavorable
Sales volume variance = (Actual units - Budgeted units) * Standard price
Product R : (120000 - 123000) * 26 = $78000 favorable
Product S:(150000 - 162700) * 22 = $279400 favorable
Product T: (20000 - 54000) * 20 = $680000 favorable
Notes:
Actual units:
Product R = $3075000/ $25 = 123000
Product S = $3254000/$20 = 162700
Product T = $540000/$10 = 54000 units