Most canadian businesses have more than five employees? True or false

Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjus

Usimov [2.4K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimated:

Overhead $160,000

Direct labor hours 80,000

Han uses normal costing and applies overhead based on direct labor hours.

For January, direct labor hours were 8,150.

By the end of the year, Han showed the following actual amounts:

Overhead $166,000

Direct labor hours 79,600

Assume that the unadjusted Cost of Goods Sold for Han was $176,000.

1) Predetermined overhead rate= total estimated overhead for the period/ total amount of allocation base

Predetermined overhead rate=160000/80000= $2 per hour

2) Applied overhead (January)= Predetermined overhead rate*actual hours= 2*8150= $16,300

3) Applied overhead for the year= 2*79600= $159,200

Over/under applied= actual overhead - applied overhead= 166000 - 159200= 6800 underapplied

4) COGS= 176000

Underapplied overhead= 6800

COGS adjusted= $182,800

3 0

2 years ago

Joanie is in her junior year of high school and is planning her future. Based on rent in her city and her new car payment, she n

Simora [160]

She needs a bachelor degree because an associate degree doesn't give her quite $800.

5 0

3 years ago

Asonia Co. will pay a dividend of $4.95, $9.05, $11.90, and $13.65 per share for each of the next four years, respectively. The

kompoz [17]

Answer: $30.86

P = $4.95/(1 + .92) + $9.05/(1 + .92)^2 + $11.90/(1 + .92)^3 + $13.65/(1 + .92)^4

P = 4.53+7.59+ 9.14+ 9.60=$30.86

Explanation:

Dividend discount: Dividend year 1 divided by (1 plus the required rate of return)

PLUS Dividend year 2 divided by (1 plus the required rate of return) to the second power

PLUS Dividend year 3 divided by (1 plus the required rate of return) to the third power

PLUS Dividend year 4 divided by (1 plus the required rate of return) to the fourth power

7 0

2 years ago

Is it necessary that the five steps in the strategic management process be performed sequentially? Why or why not?

Artemon [7]

Answer:

No

Explanation:

Strategic management process may be defined as the process which appraises the industries and business where the organization is involved. It is the culture of appraisal that any business adopts in order to outdo their competitor.

There are mainly 5 steps for the strategic management process in any business. They are :

-- in goal setting

-- to analyze

-- in strategy formulation

-- in strategy implementation

-- to control and evaluate

These are main 5 steps which follows a logic and is easily understandable as it is simple process. But it is not compulsory for the business or organization to take these steps in a sequential manner. It depends upon the company's need. Many company analyses the internal as well as the external factors that affects their strategy which is important to their business process. So they may start with any step for the appraisal process. They can start with any step and see the impact of it and then change or move to any other step depending upon their necessity. It is according to the company's need and situation that these steps are taken in any sequence by the company.

4 0

3 years ago

Common-Sized Income Statement Revenue and expense data for the current calendar year for Lyons Electronics Company and for the e

alexandr402 [8]

Answer:

Explanation:

In common sized income statement , each line item is expressed as a percentage of sales turnover and compared to the percentage industry standard for analysis purpose.

Lyon % Industry %

Revenue 7,500,000 100 100

Cost of goods (4,125,000) 55 61

Gross profit 3,375,000 45 39

Selling expenses (2,250,000) 30 23

Admin Expenses (525,000) 7 10

Total Operating Exp (2,775,000) 37 33

Operating income 600,000 8 6

Other revenue 30,000 0.4 3

Other expenses (7500) 0.1 1

Income before tax 622,500 8.3 8

Income Tax 187,500 2.5 2.5

Net Income 435,000 5.8 5.5

4 0

3 years ago