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Nat2105 [25]
2 years ago
15

Kinetic Company estimates that overhead costs for the next year will be $1,600,000 for indirect labor and $400,000 for factory u

tilities. The company uses direct labor hours as its overhead allocation base, and plans to use 50,000 direct labor hours for this next year. If a product uses 5 direct labor hours, then it will be assigned $200 in overhead costs.a. True
b. False
Business
1 answer:
netineya [11]2 years ago
4 0

Answer:

The correct answer is "False".

Explanation:

The given values are:

Indirect labor,

= $1,600,000

Factory utilities,

= $400,000

Direct labor hours,

= $50,000

Now,

The plantwide overhead rate will be:

= \frac{Indirect \ labor +Factory \ utilities}{Direct \ labor \ hours}

On substituting the values, we get

= \frac{1,600,000+400,000}{50,000}

= \frac{2,000,000}{50,000}

= 40 ($) direct labor per hour

Thus the above is the right response.

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Which of the following accounts are classified as shareholders' equity?
vazorg [7]

The following accounts which are classified as shareholders' equity are Additional paid-in capital, Common stock ,Retained earnings.

Option A, B, C is correct.

<h3>Shareholder Equity:</h3>

Shareholder Equity is the amount invested in the business by the owner of the business. This includes the money they have invested directly and the accumulation of earnings earned by the company that has been reinvested since its inception.

<h3>Is equity a liability or an asset?</h3>

Equity is the company's total assets minus total liabilities. It can be defined as the total amount of dollars that a company would be left with if it liquidated all its assets and paid off all its liabilities. This is then distributed to shareholders.

Learn more about shareholder equity:

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5 0
1 year ago
Held-to-Maturity Bond Investment On January 1, 2016, Weaver Company purchased as held-to-maturity debt securities $500,000 face
yulyashka [42]

Answer:

b. $461,820

Explanation:

The computation of the amount reported in the balance sheet is shown below:

But before that we need to find out the amortization of discount which is

= Purchased value of bond × interest rate of return - face value of bond × interest rate

= $456,200 × 10% - $500,000 × 8%

= $45,620 - $40,000

= $5,620

Now the amount reported is

= Purchased value + discount amortization

= $456,200 + $5,620

= $461,820

Hence, the option b is correct

8 0
2 years ago
Brainliest Answer!! What Type of competitive situation is this?
Ann [662]

A. Pure competition

Pure competition describes a market with a wide range of competing businesses all selling the same product, in this case milk.

Monopolies are a single company running the market, and oligopoly markets have a small number of players who together control the vast majority.

5 0
3 years ago
In the short run, if average variable cost equals $50, average total cost equals $75, and output equals 100, the total fixed cos
musickatia [10]

Answer: $2500

Explanation:

From the question,

Average variable cost(AVC) = $50

Average total cost (ATC) = $75

Output (Q) = 100

Since Average fixed cost is the difference between the average total cost and the average Variable cost. This will be:

AFC = ATC - AVC

AFC = $75 - $50

AFC = $25

We should note that:

AFC = TFC / Q

TFC = AFC × Q

TFC = $25 × 100

TFC = $2500

Therefore, total fixed cost is $2500

5 0
3 years ago
What economic system interferes most with the law of supply and demand?
Roman55 [17]
Market economy and free enterprise
4 0
3 years ago
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