Which of the following is a collaboration of software

Adjusting factory overhead LO P4

irga5000 [103]

Answer:

26,500 Under applied

Explanation:

Lock-Tite Company

Actual Factory Overhead 215,000

Factory overhead Indirect materials 15,000

Indirect labor 80,000

Other overhead costs 120,000

Direct Labor = 345,000

Predetermined Overhead = 70% of $ 345,000= $ 241,500

Actual Overhead = $ 215,000

Difference = Predetermined Overhead - Actual Overhead

= 241,500- $ 215,000= 26,500 Under applied

We find the difference between actual overhead and applied overhead to find the underapplied ( overapplied overhead. If the actual overhead is less than applied overhead it is underapplied. But if the actual overhead is greater than applied overhead it is over applied.

Raw materials Opening $ 43,000

Add Materials Purchases 195000 ( 210,000 - 15000)

Less Raw materials Closing $ 52,000

Direct Materials Used 186,000

Direct Labor 345,000

FOH 215,000

Total Manufacturing Costs 746,000

Add Work in process Opening 10,200

Less Work in process Closing 21,300

Add Finished goods Opening 63,000

Less Finished goods Closing 35,600

Cost Of Goods Sold 762,300

8 0

4 years ago

The annual percentage yield (apy) is the

tia_tia [17]

Annual interest rate that factors in compounding effects.

Formula: APY = ( 1 + APR/n )^n - 1

4 0

3 years ago

Read 2 more answers

The following data concerning the retail inventory method are taken from the financial records of Welch Company. Cost Retail Beg

maksim [4K]

Answer:

$ 168,000

Explanation:

Include both Mark-ups and Mark-Downs and Exclude beginning inventory

When LIFO Inventory Method is used to find out Ending inventory retail Value. Cost to Retail Ratio will be Applied for both Previous year ending Inventory and the Current Year addition To Calculates

the Previous year Ending inventory :

Cost to Retail Ratio : Ending inventory at cost / Ending inventory at Retail

For Current year Addition :

Cost to Retail Ratio : Current Year Addition in Cost /Current Year Addition in Retail

Current year addition in retail includes : Markup ,Markdown purchases

Kindly check the attached images below to see the step by step explanation to the question above.

5 0

3 years ago

Why microeconomics is useful in business decision making? Explain

adelina 88 [10]

Explanation: The study of microeconomics helps the decision makers to analyze and determine how the productive resources are allocated for various goods and services. It also helps in solving the producers' dilemma of what to produce, how much to produce and for whom to produce. <33

7 0

3 years ago

Read 2 more answers

Mauve Company permits employees to occasionally use the copying machine for personal purposes. The copying machine is located in

wlad13 [49]

This is a false statement.

Explanation:

The employees of Mauve Company are permitted to use the copying machine in the office for personal purpose occasionally. The copying machine is placed in the room where the higher officials work. So the use of the machine was limited. It is difficult for the low wage employees and employee working in warehouse to use the copying machine as the machine is placed in high official’s room. So the low wage employees never use the copying machine. The use of the copying machine may not be excluded from gross income as the benefit is unfair.

3 0

3 years ago

Which of the following is a collaboration of software​

Which of the following is a collaboration of software