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drek231 [11]
2 years ago
12

Smith Fabricating uses job costing and applies overhead using a normal costing system and uses direct labour cost as the allocat

ion base. This period's estimated overhead cost is $100,000 and estimated direct labour cost of $50,000 and 2,500 direct labour hours. What is the overhead allocation rate?
Business
1 answer:
nalin [4]2 years ago
6 0

Answer:

Estimated manufacturing overhead rate= $40 per direct labor hour

Explanation:

Giving the following information:

This period's estimated overhead cost is $100,000 and an estimated direct labor cost of $50,000 and 2,500 direct labor hours.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Estimated manufacturing overhead rate= 100,000/2,500= $40 per direct labor hour

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3 years ago
If $17,000 is invested at 11​% per​ year, in approximately how many years will the investment​ double?
pav-90 [236]

<span>There is a popular rule called the rule of 72 where in you will divide 72 by the interest rate of your investment to know the length of time the value of your money will double.  In here, 72 divided by 11 is 6.55 years. Your $17,000 will be $34,000 after approximately 6.55 years.</span>

3 0
3 years ago
Stan wants to start an IRA that will have $250,000 in it when he retires in 25 years. How much should he invest semiannually in
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<span>25 years: No Payment, but total is 250000
6 months earlier. Payment of "P". It's value 1/2 year later is P(1+0.03)
6 months earlier. Payment of "P". It's value 1 year later is P(1+0.03)^2
6 months earlier. Payment of "P". It's value 1½ years later is P(1+0.03)^3
6 months earlier. Payment of "P". It's value 2 years later is P(1+0.03)^4

</span><span>We need to recognize these patterns. Similarly, we can identify the accumulated value of all 50 payments of "P". Starting from the last payment normally is most clear.
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<span>P(1.03) + P(1.03)^2 + P(1.03)^3 + ... + P(1.03)^50
 That needs to make sense. After that, it's an algebra problem.
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8 0
3 years ago
contractor decided to bid for a major commercial project. The total price of her bid is $10 million. Estimate the total cost of
IRINA_888 [86]

Answer: $150,000

Explanation:

The total cost of estimating and preparing the bid would normally fall between 1% and 2% of the total price of the bid.

It would therefore be best to use an average rate of these:

= ( 1 + 2) / 2

= 1.5%

The estimate will therefore be:

= 1.5% * 10,000,000

= $150,000

5 0
3 years ago
In Year 8, Emil Gow won $5,000 in a state lottery. Also in Year 8, Emil spent $400 for the purchase of lottery tickets. Emil ele
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The amount of lottery winnings that should be included in Emil's Year 8 taxable income is: $5,000.

<h3>What is taxable income?</h3>

Taxable income can be defined as the income that are reduce by tax or other deduction.

Since we were told that the amount of $5,000 was won in the state lottery, which means that the amount of lottery winnings that should be included in Year 8 taxable income is will be the total or the whole amount of the gambling winnings which is $5,000.

Learn more about Taxable income here:brainly.com/question/26316390

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7 0
2 years ago
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