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snow_lady [41]
3 years ago
13

For an automobile company, the total overhead applied was $48,000,000 at the end of the year. Actual overhead was $52,850,000. C

losing over/under applied overhead into cost of goods sold would cause net income to:
Business
1 answer:
ICE Princess25 [194]3 years ago
4 0

Answer:

Net income decreased by $4,850,000.

Explanation:

Given total overhead applied = $48000000

The actual overhead = $52850000

Over/under Applied overhead = total overhead applied - Actual overhead at the end of the year.

Over / under Applied overhead = 48000000-52850000

Over / under Applied overhead = -$4850000

From the calculation, it can be seen that the overhead is underapplied therefore when under applied overhead allocated to cost of goods sold then cost of goods sold decreased by $4850000.

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Adelphi Company purchased a machine on January 1, 2017, for $70,000. The machine was estimated to have a service life of ten yea
mestny [16]

Answer:

Loss on Sale of Non-Current Asset is -$5,672.

Explanation:

The key points to remember here are:

  • We compare Carrying Value (Cost - Accumulated Depreciation) with Selling Price to calculate gain/loss.
  • Adelphi Company has used the machine for 4 years. So, deduct the depreciation of 4 years from the Cost of Machine.
  • Double-Declining Rate is calculated as (1/10)*(2) = 20%. Multiply this rate with the Carrying value of each year to get the depreciation figure for next year.

I've attached a screenshot of my workings, I hope it will help you better understand the scenario. Thanks!

5 0
2 years ago
At December 31, 2018 and 2019, Frist Company had outstanding 50 million common shares and 4 million shares of 10%, $10 par cumul
klemol [59]

Answer:

The EPS for 2019 was $0.32

Explanation:

A                           Net Income                                 $20,000,000

B            No. of preferred Stock shares                  $4,000,000

C                     Par value per share                          $10.00

D = C*10%     Dividend per share (10%)                   $1.00

E = B*D           Preferred Dividend                          $4,000,000.00

F = A - E     Net Income(Common Stockholders)    $16,000,000.00

G          Number of share(common stock)outstanding    50,000,000

H = F - G       Earning per share for 2019                            $0.32

Therefore,The EPS for 2019 was $0.32

8 0
3 years ago
A product is currently made in a process-focused shop where fixed costs are $10,000 per year, and variable cost is $50 per unit.
Goryan [66]

Answer:

Break even point will be 50 units

So option (D) will be correct answer

Explanation:

We have given fixed cost = $10000 per year

Variable cost is $50 per unit

Selling price = $250 per unit

We have to find the break even point for the operation

We know that break even point is equal to

Break even point =\frac{fixed\ cost}{selling\ price-variable \ cost}=\frac{10000}{250-50}=\frac{10000}{200}=50unit

So break even point will be equal to 50 units

So option (D) will be correct answer

7 0
3 years ago
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income​ statement: Ke
prohojiy [21]

Answer:

<em>Cash flow from operating activities:</em>  35,400‬

Explanation:

Net Income                 48,900

<u>non-monetary terms</u>

gain on sale of plant assets (5,300)

depreciation expense          14,000

changes in working capital:

current assest increase:     (21,000)

current liabilities decrease   (1,200)

<em>Cash flow from operating activities:</em>  35,400‬

Increase of current assets mean cash was used to acquired.

Decrease in current liabiltiies represnt cash erogation to settle them.

4 0
3 years ago
The focus of Performance Based Logistics (PBL) is to leverage best practices of both Government and Industry.
natita [175]

The focus of Performance Based Logistics (PBL) is to leverage best practices of both Government and Industry.--- True

Explanation:

PBL is synonymous with performance-based life cycle product support, where outcomes are acquired through performance-based arrangements that deliver Warfighter requirements and incentivize product support providers to reduce costs through innovation. These Product Support Arrangements (PSA) are contracts with industry or intragovernmental agreements.

What is the focus of performance based logistics?

Performance-Based Logistics (PBL) is the purchase of support as an integrated, affordable, performance package designed to optimize system readiness and meet performance goals for a weapon system through long-term support arrangements with clear lines of authority and responsibility.

How long are PBL contracts?

Effective PBL contracts are typically multi-year contracts (i.e., 3 to 5 years with additional option or award term years), with high confidence level for exercising options/award term years.

Learn more about performance based logistics:

brainly.com/question/22567488

#SPJ4

8 0
1 year ago
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