1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DedPeter [7]
2 years ago
12

TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a prede

termined overhead rate based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 22,000 Fixed overhead cost $ 253,000 Variable overhead cost per direct labor-hour $ 1.00 During the year, a customer brought in her car for repairs. The following information was available with respect to the car's repairs: Direct materials $ 703 Direct labor cost $ 317 Direct labor-hours used 8 If TCost-908 sets its selling prices by adding a markup percentage of 40% of its total job cost, then how much would the company have charged this customer for her car's repairs?
Business
1 answer:
oee [108]2 years ago
8 0

Solution :

1.  Predetermined overhead rate

Fixed \text{overhead cost}    (253,000 / 22,000)    =  $ 11.5

Variable \text{overhead cost} per direct labor-hour  = $ 1

Predetermined overhead rate                          = $12.5

2.  Total job cost                  $

   Direct materials               703

  Direct labor cost               317

 Applied overhead (8 hours x $12.5 per direct labor hour)   = 100

 Total job cost                    = $ 1120

3. Charges     = $ 1120 x 140%

                      = $1568

 

You might be interested in
Joe Keho and Mike McLain share income on a 6:4 basis. They have capital balances of $90,000 and $70,000, respectively, when Lind
lions [1.4K]

Answer:

A.

Joe’s Capital (existing partner) = $90,000

Mike’s Capital (existing partner) = $70,000

Profit-sharing ratio = 6:4

Admission of Linda (new partner) with bonus to existing partners:

$100,000 cash contributed for 25% share

So, implied value of partnership firm after admission = $100,000 / 25% = $400,000

However, actual value of partnership firm after admission will be = $90,000 + $70,000 + $100,000 = $260,000

Linda’s Capital in new partnership = 25% * $260,000 = $65,000

However, Linda is contributing $100,000

So, bonus accruing to existing partners = $100,000 - $65,000 = $35,000

Bonus to be split in profit sharing ratio

Bonus accruing to Joe = $35,000 * 6/10 = $21,000

Bonus accruing to Mike = $35,000 * 4/10 = $14,000

Joe'sCapital

$21,000

Mike'sCapital

$14,000

Lindia's Capital

$65,000

b. Admission of Linda (new partner) with bonus to the new partner:

$36,000 cash contributed for 25% share

So, implied value of partnership firm after admission = $36,000 / 25% = $144,000

However, actual value of partnership firm after admission will be = $90,000 + $70,000 + $36,000 = $196,000

Linda’s Capital in new partnership = $196,000 * 25% = $49,000

However, contribution by Linda= $36,000

So, bonus accruing to Linda = $49,000 - $36,000 = $13,000

Joe’s share in bonus to Linda = $13,000 * 6/10 = $7,800

Mike’s share = $13,000 * 4/10 = $5,200

Joe'sCapital

$7,800

Mike'sCapital

$5,200

Lindia's Capital

$49,000

6 0
3 years ago
The AUD/$ spot exchange rate is AUD1.60/$ and the SF/$ is SF1.25/$. The AUD/SF cross exchange rate is _____. Group of answer cho
DaniilM [7]

Answer:

a. $1.2800

Explanation:

The AUD/SF cross exchange rate is as computed below:

==> AUD/$ ÷ SF/$

==> $1.60 / $1.25

==> $1.2800

So, the AUD/SF cross exchange rate is $1.2800

6 0
2 years ago
To measure changes taking place in your financial situation, you probably need to calculate financial ______. multiple choice qu
ipn [44]

To measure changes taking place in your financial situation, you probably need to calculate financial ratios.

<h3>What is  financial ratio?</h3>

A financial ratio  can as well be described as the accounting ratio which is the relative magnitude of two selected numerical values that is been gotten from a enterprise's financial statements.

It encompass  many standard ratios used to try to evaluate the overall financial condition , hence To measure changes taking place in your financial situation, you probably need to calculate financial ratios.

Learn more about financial ratios at:

brainly.com/question/17014465

#SPJ1

6 0
2 years ago
Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the fourth
vazorg [7]

Answer:

Assets increase by $10,000

Total stockholders' equity increases by $10,000

Explanation:

Since in the question, it is given that, the purchase value of equipment is $100,000 and the exchanged value is $110,000

So, the difference of $10,000 ($110,000 - $100,000) would reflect that the assets would increase by $10,000 and the total stockholders' equity is also increased by $10,000

The exchange value is a combination of $70,000 in trade allowance and $40,000 was paid in cash

3 0
3 years ago
In the aggregate expenditures model, it is assumed that: a.gross investment (I), government purchases (G), and net exports (NX)
tiny-mole [99]

Answer:

The Correct Option is "B"

Explanation:

Total consumption model was created accordingly of traditional model. It shows the connection between the GDP and arranged spending. The condition of consumption model is as per the following:  

Y = C + I + G + NX  

Where, Y is the genuine GDP, C is Consumption, I Refers to net investment, G is government buys and NX is net ex[port.  

The total use model accept that gross investment (I), government buys (G), and net export (NX) are independent to of genuine GDP (Y) as they don't depend on salary of the economy.

3 0
3 years ago
Other questions:
  • Kilt Company had the following information for the year: Direct materials used $ 119,300 Direct labor incurred (5,750 hours) $ 1
    8·1 answer
  • The following information is available for completed Job No. 402: Direct materials, $120,000; direct labor, $180,000; manufactur
    14·1 answer
  • Gross wage refers to the wage an employee earns before deductions are subtracted.
    12·1 answer
  • According to the circular flow model of the economy, a person's job in a shoe factory is within the _______ market.
    13·1 answer
  • Suppose that some teachers have decided that economic and financial uncertainty have made the prospect of retiring more​ risky,
    12·1 answer
  • Suppose that MUX = Y and MUY = X. The prices of good X and good Y are $5 and $4, respectively. How many units of good X does the
    15·1 answer
  • In Expanded Academic ASAP and other periodical databases, it's best to put your exact phrase A. between dashes. B. in quotation
    8·2 answers
  • Why is it important for business professionals to take an active role in developing and managing information systems? A. They kn
    8·1 answer
  • Economic justice was not a mainstream concept before the Great Depression. The predominant economic theory advocated a laissez-f
    10·1 answer
  • For price discrimination via coupons to be successful, it must be TRUE that:
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!