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Gnesinka [82]
3 years ago
7

Craig Company uses a predetermined overhead rate to assign overhead to jobs. Because Craig's production is machine intensive, ov

erhead is applied on the basis of machine hours. The expected overhead for the year was $5,702,400, and the practical level of activity is 396,000 machine hours. During the year, Craig used 404,000 machine hours and incurred actual overhead costs of $5,739,600. Craig also had the following balances of applied overhead in its accounts: Work-in-process inventory $ 550,560 Finished goods inventory 609,760 Cost of goods sold 1,799,680 Required: 1. Compute a predetermined overhead rate for Craig. Round your answer to the nearest cent. $ 14.4 per machine hour 2. Compute the overhead variance, and label it as under- or overapplied.
Business
1 answer:
melisa1 [442]3 years ago
4 0

Answer:

1. $14.4 per machine hour

2. $78,000 over-applied

Explanation:

The computation is shown below:

1. Predetermined overhead rate = (Expected overhead for the year) ÷ (practical level of activity)

= $5,702,400  ÷ 396,000 machine hours

= $14.4

b. The overhead variance is

For computing the overhead variance, first we have to determine the applied overhead that is given below

= Actual machine hours × predetermined overhead rate

= 404,000 machine hours × $14.4

= $5,817,600

So, the overhead variance equals to

= Actual manufacturing overhead - actual overhead

= $5,739,600 - $5,817,600

= $78,000 over-applied

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3 years ago
addresses unknown parameters in the real world that parallel descriptive measures of very large population? A. The sample mean /
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Answer:

The answer is "Option B".

Explanation:

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7 0
3 years ago
The owner of an orange grove must decide when to pick one variety of oranges. She can sell them for $27 a bushel if she sells th
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Answer:

The oranges should be picked in 2 weeks for maximum return

Explanation:

We assume that the return of the owner is y ($)

Assume that the number of weeks the oranges should be picked to have maximum return is x (weeks). (x≥0)

If collect now, the price for each bushel is $27

As the price per bushel decrease by $1.50 per bushel each week

=> After x weeks, the price of a bushel decrease: 1.5x ($)

=> The price of 1 bushel after x weeks is: 27 - 1.5x ($)

If collect now, each tree can yield 7 bushels

As the yield increases by half a bushel per week for the next 5 weeks

=> After x weeks with x ≤ 5, each trees would yields: 7 + 0.5x (bushels)

The return = The price of each bushes × The quantity of bushels

=> y = (27-1.5x)(7+0.5x)

⇔y= 27 (7 +0.5x) - 1.5x(7+0.5x) = 189 + 13.5x - 10.5x - 0.75x^{2}

⇔y = -0.75x^{2} +3x +189

We have: if the equation has the form of y =ax^{2} +bx +c with a≠0, its maximum value is: max y = c - \frac{b^{2} }{4a}

In the equation y = -0.75x^{2} +3x +189, we have: a = -0.75; b = 3; c = 189

=> max y = c -\frac{b^{2} }{4a} = 189 - \frac{3^{2} }{4.(-0.75)} = 189 - \frac{9}{-3}  = 189 - (-3) = 189+3 = 192

To look for the number of weeks, we should find x (0≤x≤5) with which y = 192

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⇔-0.75x^{2} + 3x + 189 - 192 = 0

⇔-0.75 x^{2} + 3x - 3 =0

⇔-0.75x^{2}  + 4*0.75x - 0.75*4 =0

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⇔ (x-2)^{2}  = 0

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Answer:

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3 0
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