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pshichka [43]
2 years ago
13

Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect co

sts. The bankwide rate could be based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for Consumer Loans and a dual rate based on direct labor hours and the number of loans processed for Commercial Loans. The following information was gathered for the upcoming period:
Department DLH Loans Processed Direct Costs
Consumer 14,000 700 $ 280,000
Commercial 8,000 300 $ 180,000
If Banc Corp. Trust uses a bankwide rate based on the number of loans processed, what would be the total costs for the Commercial Department?

--$118,800.

-- $180,000.

-- $298,800.

-- $318,000.
Business
1 answer:
joja [24]2 years ago
4 0

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated overhead= $396,000

Department:

Consumer= 700

Commercia= 300

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= 396,000/1,000= $396 per loan processed.

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 396*300= $118,800

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Answer:

Dobles Corporation

The unit product cost of product D28K is:

$144.01

Explanation:

a) Data and Calculations:

Activity Cost Pools    Estimated Overhead Cost   Expected Activity

Assembly                     $228,060                            18,000 machine hours

Processing orders         $34,068                              1,200 orders

Inspection                    $125,560                               1,720 inspection hours

Units of D28K produced per year = 420 units

D28K requirements:

Machine hours     460

Orders                    80

Inspections             10

Direct materials cost per unit = $48.96

Direct labor cost per unit = $25.36

Activity rate:

Assembly                     $228,060/18,000 = $12.67 per machine hour

Processing orders         $34,068/1,200 = $28.39 per order

Inspection                    $125,560/1,720 = $73 per inspection-hour

Cost of D28K:

Machine hours     460 * $12.67 =   $5,828

Orders                    80 * $28.39 = $22,712

Inspections             10 * $73 =           $730

Total overhead costs =                $29,270

Overhead cost per unit = $69.69 ($29,270/420)

Unit Cost of D28K:

Direct materials cost per unit = $48.96

Direct labor cost per unit =        $25.36

Overhead cost per unit =          $69,69

Total unit cost =                         $144.01

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Answer:

The correct answer is the second option: Product Structure.

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When employers use diplomas and degrees to determine who is eligible for jobs, even through the diploma or degree may be relevan
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When employers use diplomas and degrees to determine who is eligible for jobs, even though the diploma or degree may be relevant to the actual work, it becomes a Credential Society.

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  • A testamur, which is Latin for "we testify" or "certify," may also be used to refer to the diploma this term is frequently used in Australia to refer to the document certifying the award of a degree.
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2 years ago
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$10 par value, 10
melisa1 [442]

Answer:

Kohler Corporation

Journal Entries:

Jan. 2:

Debit Treasury Stock $45,000

Debit Paid-in Capital In Excess of Par $67,500

Credit Cash Account $112,500

To record the purchase of 4,500 shares of its own stock at $25 per share.

Jan. 5:

Debit Dividends $71,000

Credit Dividends Payable $71,000

To record the declaration of $2 per share cash dividend.

Feb. 28:

Debit Dividends Payable $71,000

Credit Cash Account $71,000

To record the payment of cash dividend on 35,500 shares at $2 per share.

July 6:

Debit Cash Account $48,952

Credit Treasury Stock $16,880

Credit Paid-in Capital In Excess of Par $32,072

To record the sale of treasury stock shares at $29 per share.

Explanation:

a) Data and Calculations:

Common stock—$10 par value, 100,000 shares authorized,

40,000 shares issued and outstanding $ 400,000

Paid-in capital in excess of par value,

common stock                                             60,000

Retained earnings                                      460,000

Total stockholders' equity                      $ 920,000

b) The purchase on Jan. 2 of its own stock of 4,500 shares, the cash receipt is credited to the Cash Account while the Treasury Stock is debited, but only with the par value of the repurchased shares if the par value method is adopted.  If the costing method is adopted, the value to be debited to the Treasury Stock account would have $112,500 without any debit to the Paid-in Capital In Excess of Par.  This is also followed when the sale of 1,688 treasury shares at $29 per share takes place on July 6, but with opposite entries.

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d) The general journal is used in these cases to record the transactions initially in the books of Kohler Corporation.  They show the accounts to be debited and the others to be credited, since two accounts or more are usually involved in any business transaction.

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