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denis23 [38]
3 years ago
7

During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing o

verhead totaling $160,000. How much raw materials were transferred to production during 2017 for Benson
Business
1 answer:
grigory [225]3 years ago
8 0

Answer:

Raw Materials transferred to production during 2017 $1,466,000

Explanation:

The computation of the raw material transferred to production is given below:

Opening raw material 2016 $80,000

Add : Purchase of Raw material $1,450,000

Less Closing Stock raw material 2017 $64,000

Raw Materials transferred to production during 2017 $1,466,000

Hence, the same should be relevant

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based on this information, the amount of overhead allocated to a job that used 300 direct labor hours is $
Amiraneli [1.4K]

The amount of overhead allocated to a job that used 300 direct labor hours is $900.

<h3>Overhead allocated:</h3>

First step is to calculate the predetermined overhead rate per direct labor hour

Using this formula

Predetermined overhead rate=Estimated manufacturing overhead/Estimated direct labor hours

Predetermined overhead rate=$450,000/150,000

Second step is to calculate the overhead allocated

Overhead allocated=Predetermined overhead rate × Direct labor hours

Overhead allocated=$3×300

Overhead allocated=$900

Inconclusion the amount of overhead allocated to a job that used 300 direct labor hours is $900.

Learn more about overhead allocated here:brainly.com/question/15739613

3 0
2 years ago
Based on market values, Gubler's Gym has an equity multiplier of 1.46 times. Shareholders require a return of 10.91 percent on t
rewona [7]

Answer:

The answer is "5.4% and 15,23,500".

Explanation:

Calculating the capital cost:

=(1-\frac{1}{1.46})\times 10.91\% \times (1-39\%)+(\frac{1}{1.46})\times 4.84\% \\\\=(\frac{1.46-1}{1.46})\times \frac{10.91}{100} \times (\frac{100-39}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\ =(\frac{0.46}{1.46})\times \frac{10.91}{100} \times (\frac{61}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\=\frac{306.1346}{14600}+\frac{4.84}{146} \\\\=  0.021+0.033 \\\\ =0.054\\\\= 5.4\%

Maximum amount to be spent

=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{(1.054)^7})\\\\=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{1.44})\\\\=\frac{277,000\times 100 }{5.4} \times (1-0.7)\\\\=277,000 \times 100\times 0.055\\\\=\$15,23,500\\

6 0
2 years ago
Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insuran
rjkz [21]

Answer: $7200

Explanation:

From the question, we are informed that most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insurance. If $4,700 worth of jewelry and $6,000 worth of silverware were stolen from a family.

The amount of claim that would not be covered by the insurance will be:

= ($4,700 - 1,000) + ($6,000 - 2,500)

= $3,700 + $3,500

= $7,200

8 0
3 years ago
On January 2, Haskins Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. Th
MakcuM [25]

Answer:

Explanation:

Cost of machine - $80000

Useful life - 5 years

Salvage value -$5000

Depreciable amount = 80000-5000= 75000

Annual depreciation = 75000/5 = 15000

Year                    DR                       Accum Dep

Cost                                                                                   8000                  

1                Depreciation 15000       15000  

2               Depreciation  15000      30000

Year 3      Depreciation  15000      45000

Year 4      Depreciation   15000      60000

Year 5      Depreciation   15000      75000

Financial statement template

Balanced sheet

Cash asset + Non cash asset = liabilities + Equity

Cash asset + 65000  = liabilities + equity

Income statement

Revenue - expenses = Net income

Revenue - 15000 - Net Income

3 0
3 years ago
Alto Company issued 7% preferred stock with a $100 par value. This means that:
RideAnS [48]

Answer:

Option "C" is the correct answer to the following question.

Explanation:

Given:

Issue price of share = $100

Market price per share = $100

Preferred stock dividend rate = 7%

Computation of dividend per year :

Dividend per year = Issue price of share × Preferred stock dividend rate

Dividend per year = $100 × 7%

Dividend per year = $7

Dividends are always paid to preferred stock at fixed rates at face value.

7 0
3 years ago
Read 2 more answers
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