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NemiM [27]
3 years ago
9

Bradshaw Company provided the following data: Standard fixed overhead rate (SFOR) $5 per direct labor hour Actual fixed overhead

costs $301,680 Standard hours allowed per unit 4 hours Actual production 15,000 units Required:
1. Calculate the standard hours allowed for actual production. hours
2. Calculate the applied fixed overhead. $
3. Calculate the total fixed overhead variance. Enter amount as a positive number. $
Business
1 answer:
bezimeni [28]3 years ago
8 0

Answer:

1. 60,000 hours

2. $300,000

3. $1,680 Unfavorable

Explanation:

1. The computation of the standard hours allowed for actual production is shown below:

= Actual production × Standard hours allowed per unit

= 15,000 units × 4 hours

= 60,000 hours

2. The computation of the applied fixed overhead is shown below:

= Standard hours allowed for actual production × Standard fixed overhead rate

= 6,000 hours × $5

= $300,000

3. The computation of the total fixed overhead variance is shown below:

= Actual fixed overhead costs - Applied fixed overhead

= $301,680 - $300,000

= $1,680 Unfavorable

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A business cycle reflects changes in economic activity, particularly real gdp. the stages of a business cycle are?
Lostsunrise [7]

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8 0
1 year ago
The City of Troy collects its annual property taxes late in its fiscal year. Consequently, each year it must finance part of its
Digiron [165]

Answer:

A. $1,460,000

B. General Fund:

Dr Cash $1,460,000

Cr Tax Anticipation Notes Payable $1,460,000

Governmental Activities:

Dr Cash $1,460,000

Cr Tax Anticipation Note Payable $1,460,000

C. General Fund:

Dr Tax Anticipation Note Payable $1,460,000

Dr Expenditures $43,800

Cr Cash $1,503,800

Governmental Activities:

Dr. Tax Anticipation Note Payable $1,460,000

Dr Expenses-General Government $43,800

Cr Cash $1,503,800

Explanation:

A. Calculatation for the estimated amount of tax anticipation financing

Estimated Expenditures Requirements:

Budgeted Expenditure, remainder $2,500,000

Add Current Liabilities Payable $830,000

Total $3,330,000

Estimated Resources Available:

Cash on hand $770,000

Add Collection of budgeted revenues and delinquent property taxes $1,100,000

Total $1,870,000

Estimated Anticipation Note Financing $1,460,000

($3,330,000-$1,870,000)

Therefore the Estimated Anticipation Note Financing is $1,460,000

B. Preparation of the journal entry to record the issuance of the tax anticipation notes in the general journals

General Fund:

Dr Cash $1,460,000

Cr Tax Anticipation Notes Payable $1,460,000

( To record the insuance of tax anticipation note payable)

Governmental Activities:

Dr Cash $1,460,000

Cr Tax Anticipation Note Payable $1,460,000

C. Preparation of the general journals of the General Fund and governmental activities

General Fund:

Dr Tax Anticipation Note Payable $1,460,000

Dr Expenditures $43,800

(1,460,000*6%*6/12)

Cr Cash $1,503,800

(1,460,000+43,800)

Governmental Activities:

Dr. Tax Anticipation Note Payable $1,460,000

Dr Expenses-General Government $43,800

(1,460,000*6%*6/12)

Cr Cash $1,503,800

(1,460,000+43,800)

(Being the payment for tax and interest)

7 0
3 years ago
Which of the following correctly defines a​ product?
Alisiya [41]

Answer: Option C            

                           

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Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.

7 0
2 years ago
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Lisa [10]

Answer:

--Correct Answer =  $ 2,000

Explanation:

the step by step Workings can be seen below

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Add: Purchases                                                   $53,000

Less: Cost of goods Sold                                   $48,000

Ending Inventory as per perpetual method      $517,000

Less: Ending Inventory as per physical count  $515,000

Shrinkage amount                                                $2,000

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