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sertanlavr [38]
2 years ago
15

Thomlin Company forecasts that total overhead for the current year will be $13,502,000 with 157,000 total machine hours. Year to

date, the actual overhead is $8,179,100, and the actual machine hours are 91,900 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is
Business
1 answer:
mars1129 [50]2 years ago
5 0

Answer:

$275,700 underapplied

Explanation:

The computation of the overhead is shown below:

But before that following calculation need to be done

Applied overhead is

= Actual machine hours × predetermined overhead rate

= 91,900 hours × ($13,502,000 ÷ 157,000)

= $7,903,400

And, the actual overhead is $8,179,100

So, the under applied overhead is

= $8,179,100 - $7,903,400

= $275,700

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What was the opportunity cost in a situation in which you use your available cash to buy gas for your car and then stay hungry t
Elodia [21]

Answer:

see below

Explanation:

Opportunity cost is the sacrificed benefit by choosing a preferred option over others. The value of opportunity cost is the foregone benefit from the best alternative.

In this situation, the person had to choose between buying gas for the car or using that money to purchase food. Since the person opted to buy gas, they sacrificed having a meal for the rest of the day.  The pleasure derived from eating is the opportunity cost for this person.  

4 0
2 years ago
1. If you were a manager conducting a job interview to applicants and you encountered the following querries
Fudgin [204]

AnsjoNOnondxw

Explanation:

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4 0
2 years ago
Expectations of inflation are always greater than actual inflation along the long-run Phillips Curve.
lawyer [7]

Answer:

True.

Explanation:

The statement is “True” because the Philip curve is the curve that exhibits the relationship between the inflation or price level and unemployment. If inflation rises, then unemployment falls. If inflation falls, then unemployment rises. This happens because there is a negative relationship between inflation and unemployment. However in the long run the Philip curve is a verticle line parallel to the inflation axis and that shows there is no trade-off. Thus the option A is correct.

8 0
3 years ago
Consider this problem: Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil an
astraxan [27]

Answer:

The maximum time guaranteed = 19.04 minutes.

Explanation:

From the given problem data, we have:

Let Y be the random variable which follows the normal distribution.

So,

Y ~ N(u = 15, SD = 2.4

Where, u = mean and SD = Standard Deviation

Let the maximum time guaranteed is = M

So,

P (Y > M) = 0.05   equation 1

Convert this equation 1 into standard normal variable, that is,

P(Y> M) = 0.05

1 -  P(Y \leq M) = 0.05

P(Y \leq M) = 1 - 0.05

P(Y \leq M) = 0.95

P(\frac{Y-u}{SD} \leq \frac{M-u}{SD} ) = 0.95

P ( Z \leq \frac{M - 15}{2.4} )  = 0.95     Equation 2

From the equation 2, we have,

\frac{M-15}{2.4} = 1.644853627  

1.644853627 value is from using the function of Excel

( =NORSINV(0.95)) = 1.644853627

So,

M = 1.644853627 + 2.4 + 15

M = 19.04

Hence, the maximum time guaranteed = 19.04 minutes.

6 0
2 years ago
1.Economics is the study of ____________________ and _________________________.2.What is opportunity cost
jolli1 [7]

Answer: See explanation

Explanation:

Economics is the study of human behavior and also how resources are allocated in the society. Economics studies the reason for the behavior in the individuals, firms or government when certain situations happen in the economy.

Opportunity cost is refered to as n alternative cost that's, the cos if what we forgo when we make an alternative decision. For example, if I purchase a book for $20, the opportunity cost is something else that I could have used the $20 for.

4 0
2 years ago
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