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UNO [17]
3 years ago
8

Jmes Graham Manufacturing is a small manufacturer that uses machine-hours as its

Business
1 answer:
IgorLugansk [536]3 years ago
7 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Company - Job 62 - Job 63

Direct materials: $60,000 - $4,500 - $7,100

Direct labor: $25,000 - $2,500 - $4,200

overhead costs $72,000

Machine hours: 90,000 - 1,350 - 3,100

During 2019, the actual machine-hours totaled 95,000, and actual overhead costs were $71,000. Job 62 consisting of 1,000 units and Job 63 consisting of 2000 units were completed during the month.

A) 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= 72,000/90,000

Estimated manufacturing overhead rate=  0.8 per machine-hour

B) Total manufacturing cost= direct material + direct labor + allocated overhead

Job 62:

Total manufacturing cost= 4,500 + 2,500 + 0.8*1,350

Total manufacturing cost= $8,080

Job 63:

Total manufacturing cost= 7,100 + 4,200 + 0.8*3,100

Total manufacturing cost= $13,780

C) Unitary cost= total cost/ number of units

Job 62:

Unitary cost= 8,080/1,000= $8.08

Job 63:

Unitary cost= 13,780/2,000= $6.89

D) First, we need to apply overhead for the company as a whole:

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

Allocated MOH= 0.8*95,000

Allocated MOH= $76,000

Now, we can calculate the over/under applied overhead:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 71,000 - 76,000

Overapplied overhead= $5,000

E) Job 62= 14,000

Job 63= 18,000

Gross profit= sales - cost of goods sold

Job 62:

Gross profit= 14,000 - 8,080= $5,920

Job 63:

Gross profit= 18,000 - 13,780= $4,220

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Elena L [17]

Answer: $352,000

Explanation:

The information needed to calculate the cash and cash equivalent are:

Balance in checking account, Bank of the East = $ 382,000

The restricted cash included in the checking account = $49,000

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We subtract the restricted cash from the balance in the checking account and then add it to the treasury bills. This will be:

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Answer:

Letter d is correct. <u>They have a lot of energy.</u>

Explanation:

Entrepreneurs need to be high-energy people because they are naturally leaders in an organization and motivate employees.

The attitude that an entrepreneur adopts will usually be copied and transmitted in the organizational culture, but the ideal is that entrepreneurs prove to be high performance and energetic people, prepared to deal with the challenges and uncertainty that may occur in the organizational process, people who follow the line. the set of organizational ethics and policies.

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5 0
3 years ago
Name and explain money notes<br>​
Alborosie

Answer:

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2 years ago
Smarton Company is in the process of preparing its budgeted income statement. It has determined its estimated gross margin to be
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Answer:

A) $48,000

Explanation:

$$$Gross Margin$$$- S&A expenses$$$Equals to Operative Income

Then:

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In a limited partnership, limited partners do not have the same rights as general partners to participate in management. Group o
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In a limited partnership, limited partners do not have the same rights as general partners to participate in management. This statement is true.

<h3>What is a limited partnership?</h3>

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To learn more about limited partnership, please check: brainly.com/question/9244934

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