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Ksivusya [100]
3 years ago
11

Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types o

f go-karts: Deluxe and Basic. Activity Expected Costs Expected Activity Handling materials $ 625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 orders Paying suppliers 175,000 500 invoices Insuring the factory 300,000 40,000 square feet Designing packaging 75,000 2 models Required: 1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. In January of this year, the Deluxe model required 2,500 direct labor hours and the basic model required 6,000 di
Business
1 answer:
san4es73 [151]3 years ago
6 0

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the plantwide predetermine manufacturing overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

total estimated overhead costs for the period= (625,000 + 900,000 + 105,000 + 175,000 + 300,000 + 75,000)

total estimated overhead costs for the period= $2,180,000

Predetermined manufacturing overhead rate= 2,180,000 / 125,000

Predetermined manufacturing overhead rate= $17.44 per direct labor hour

<u>Now, we can allocate overhead to each product line:</u>

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

<u>Deluxe:</u>

Allocated MOH= 17.44*2,500

Allocated MOH= $43,600

<u>Basic:</u>

Allocated MOH= 17.44*6,000

Allocated MOH= $104,640

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Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2013, accounts receivable totaled $670,000. Th
Inga [223]

Answer:

Journal entries

Explanation:

The journal entry are as follows

1. Allowance for doubtful debts $25,500

              To Account receivable $25,500

(Being the written off amount is recorded)

2. Account receivable Dr $2,100

         To Allowance for doubtful debts $2,100

(Being the reinstatement of an account previously written off is recorded)

3. Cash Dr $2,100

          To Account receivable $2,100

(Being the collection of account is recorded)

4. Bad debt expense Dr $82,900

              To Allowance for doubtful debts $82,900

(Being the bad debt expense is recorded)

It is computed below:

= $670,000 × 15% - ($41,000 + $25,500 + $2,100)

= $100,500 - $17,600

= $82,900

Only these entries are recorded

3 0
2 years ago
Bill and Hillary produce food and clothing. In an hour, Bill can produce 1 unit of food or 1 unit of clothing, while Hillary can
Free_Kalibri [48]

Answer:

.

Bill can produce 10 unit of food or 10 unit of clothing, while Hillary can produce 20 units of food or 30 units of clothing in 10 hours a day.

4 0
3 years ago
We call the 10 / 30 rule
Schach [20]
If you put my info in this I could have answered this
3 0
3 years ago
James Company began the month of October with inventory of $32,000. The following inventory transactions occurred during the mon
NARA [144]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
Total revenue equals A. change in price per unit times quantity sold. B. price per unit times change in quantity sold. C. price
Dmitriy789 [7]

Answer:

C. price per unit times quantity sold.

Explanation:

Total revenue is defined as the revenues that are received from the sales of units of goods and services. It is price multiplied by quantity sold.

Total revenue can also be seen as price per unit times quantity is sold. For example if the unit price of a good is $2 the price per one unit is $2. When 20 units are sold the price per units sold is 20* $2= $40.

So times that a defined unit of goods is sold multiplied by price gives the total revenue.

7 0
3 years ago
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