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
Goshia [24]
3 years ago
5

Apple Tree Enterprises allocated overhead based on direct material cost and has a predetermined overhead rate of 160%. During th

e current period, direct labor cost is $67,000 and direct materials cost is $73,000. In the current period, determine the amount of overhead to be applied by Apple Tree Enterprises.
Business
1 answer:
shusha [124]3 years ago
7 0

Answer:

Allocated MOH= $116,800

Explanation:

Giving the following information:

predetermined overhead rate= 160% of direct material

Direct materials= $73,000

<u>To calculate the allocated overhead, we need to use the following formula:</u>

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

Allocated MOH= 1.6*73,000

Allocated MOH= $116,800

You might be interested in
The following stockholders' equity accounts arranged alphabetically are in the ledger of Wildhorse Co. at December 31, 2020.
Andrei [34K]

Answer:

Wildhorse Co.

The stockholders' equity section of the Balance Sheet at December 31, 2020

Preferred Stock (8%, $101 par, noncumulative)                      414,100

Paid-in Capital in Excess of Par-Preferred Stock                    48,700

Common Stock ($12 stated value)                                      1,776,000

Paid-in Capital in Excess of Stated Value-Common Stock 659,000

Treasury Stock-Common (7,900 shares)                             (96,000)

Retained Earnings                                                                 782,000

Total stockholders' equity                                               $3,583,800

Explanation:

a) Data:

Preferred Stock (8%, $101 par, noncumulative)                      414,100

Paid-in Capital in Excess of Par-Preferred Stock                    48,700

Common Stock ($12 stated value)                                      1,776,000

Paid-in Capital in Excess of Stated Value-Common Stock 659,000

Treasury Stock-Common (7,900 shares)                             (96,000)

Retained Earnings                                                                 782,000

Total stockholders' equity                                               $3,583,800

b) The major components of the stockholders' equity include the stock accounts, paid-in capital, retained earnings, and the treasury stock.  The stockholders' equity represents the difference between the assets and the liabilities of Wildhorse Co.  The equity section shows the capital contributions of Wildhorse stockholders and the accumulated retained profits.

5 0
3 years ago
If the Ricardian equivalence theorem LOADING... is not​ relevant, then an​ income-tax-rate cut A. will result in a multiple time
LenKa [72]

Answer:

The correct answer is D. will result in a multiple times higher decrease in equilibrium real GDP in the short​ run; however, a​ tax-rate reduction will increase the​ automatic-stabilizer properties of the tax​ system, so equilibrium real GDP would be less stable.

Explanation:

Ricardian Equivalence is an economic theory that suggests that when a government increases expenses financed with debt to try to stimulate demand, demand does not really undergo any change.

This is because increases in the public deficit will lead to higher taxes in the future. To keep their consumption pattern stable, taxpayers will reduce consumption and increase their savings in order to offset the cost of this future tax increase.

If taxpayers reduce their consumption and increase their savings by the same amount as the debt to be returned by the government, there is no effect on aggregate demand.

The fundamental concept of Ricardian equivalence is that it does not matter which method the government chooses to increase spending, whether by issuing public debt or through taxes (applying an expansive fiscal policy), the result will be the same and demand will remain unchanged.

6 0
3 years ago
Monopolistic competition resembles pure competition because:
OleMash [197]

Answer:

The correct answer is D.

Explanation:

Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.

Monopolistic competitive markets:

have products that are highly differentiated, meaning that there is a perception that the goods are different for reasons other than price;

have many firms providing the good or service;

firms can freely enter and exits in the long-run;

firms can make decisions independently;

there is some degree of market power, meaning producers have some control over price; and

buyers and sellers have imperfect information.

7 0
3 years ago
What is the IRS method of allocating expenses between rental use and personal use?
lidiya [134]

Answer:

Schedule E- Allocation of Rental and Personal Expenses.  

Explanation:

Hello so I am gonna assume your talking about what I said above if you use your dwelling unit for both rental and personal purposes, divide your expensive  between the rental use and the personal use based on the number of days used for each purpose.

Hope this helps :)

3 0
3 years ago
The accounting process begins with: Multiple Choice Analysis of business transactions and source documents. Preparing financial
Kitty [74]

Answer:

The accounting process begins with Analysis of business transactions and source documents

Explanation:

The Accounting process begins by<em> identifying the transactions and events</em> that occurred in the business.

After identification, the events and transactions have to be<em> recorded in appropriate Account</em> using the <em>proper books of entry</em>.

A list of Balances known as the <em>Trial Balance</em> is then computed when the Accounts are closed.

The Trial Balance is then used <em>to prepare financial statements</em>.

Financial Statements are then <em>Analysed</em> to assist various stakeholders and users of financial statements to <em>make decisions</em>.

6 0
3 years ago
Read 2 more answers
Other questions:
  • During the first two years, supplies, inc. drove the company truck 15,000 and 22,000 miles, respectively, to deliver merchandise
    6·1 answer
  • Identify the fixed path and variable path material handling equipment commonly found in supermarkets.
    11·1 answer
  • 1. This problem asks about opportunity costs in different situations. a. You get a jump on your holiday shopping in July and buy
    14·1 answer
  • Which of the following statements about renting and owning is correct
    9·2 answers
  • HH is a 68 yo M who has been admitted to the medical ward with community-acquired pneumonia for the past 3 days. His PMH is sign
    15·1 answer
  • The Federal Open Market Committee promotes price stability and economic growth through
    8·2 answers
  • Vaughn Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2
    12·1 answer
  • The race to the bottom scenario of global environmental degradation is explained roughly like this:
    13·2 answers
  • Begin with a single sum of money at period 0. First, calculate a future value of that sum at 12.01%. Then discount that future v
    11·1 answer
  • The following is an estimated demand function:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!