Define demand and supply

Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has bud

beks73 [17]

Answer:

Results are below.

Explanation:

First, we need to calculate the number of processing hours:

Processing hours= (0.25*3,000) + (0.1*6,000) + (0.3*3,500)

Processing hours= 750 + 600 + 1,050

Processing hours= 2,400

Now, we can calculate the predetermined overhead rate:

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

Predetermined manufacturing overhead rate= 207,000 / 2,400

Predetermined manufacturing overhead rate=$86.25 per processing hour

To allocate overhead, we need to use the following formula:

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

Tortilla chips= 86.25*75= 64,687.5

Potato chips= 600*86.25= 51,750

Pretzels= 86.25*1,050= 90,562.5

Finally, the unitary cost:

Tortilla chips= 64,687.5 / 3,000= $21.56

Potato chips= 51,750 / 6,000= $8.63

Pretzels= 90,562.5 / 3,500= $25.88

8 0

3 years ago

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished uni

Lorico [155]

Answer:

Total cost= $350,400

Explanation:

Giving the following information:

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.

Quarter 1:

Direct labor cost= 5,280*2= 10,560 hours

Quarter 2:

Direct labor cost= 6,400*2= 12,800 hours

Total cost= (10,560 + 12,800)*15= $350,400

7 0

3 years ago

Will the grading period effect what college you will go to later on? A (True) B (False)

Kobotan [32]

Answer: A

Explanation:

8 0

3 years ago

Read 2 more answers

A post-closing trial balance is prepared a. after closing entries have been journalized and posted. b. before closing entries ha

adelina 88 [10]

Answer:

A.

Explanation:

The accounting cycle is the name given to the collective process of recording and processing the accounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.

Upon the posting of adjusting entries, a company prepares an adjusted trail balance followed by the financial statements. An entity closes temporary accounts (revenues and expenses) at the end of the period using closing entries. These closing entries transfer net income into retained earnings. Finally, a company prepares the post-closing trial balance to ensure debits and credits match.

Steps:

-Journal

-Ledger

-Trail Balance

-Adjustment Entries

-Trading Account

-Profit or loss account

-Final accounts

-Post closing Trail Balance

4 0

3 years ago

Read 2 more answers

What type of budget is stated? A budget is a type of financial report that scrutinizes the inflow and outflow of money in a give

zmey [24]

Its cash flow statement. Hope this helps!!

6 0

3 years ago

Define demand and supply​

Define demand and supply