Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept
![\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7DItem%26Value%26Weight%26Allocated%5C%5CCOGS%26221400%260.27%263807%5C%5CFG%26459200%260.56%267896%5C%5CWIP%26139400%260.17%262397%5C%5C%26%26%26%5C%5CTotal%26820000%261%2614100%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Answer:
A) 19.91%
Explanation:
Net present value of cash flow at 19.91% can be calculated as follows
- 100000 + 30000/1.1991 + 30000/ (1.1991)² + 30000/(1.1991)³ + 30000/ (1.1991)⁴ +30000/(1.1991)⁵ + 30000/ (1.1991)⁶
= -100000 + 25018 +20864 +17400 +14511 +12101 +10092
= 0 ( approx )
So the IRR for the project is 19.91 % .
Answer: income statement and the statement of cash flows
Explanation:
Answer:
Production budget for First quarter= 16,500 units
Explanation:
<em>The production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories. </em>
Production = Sales volume + closing inventory - opening inventory
Closing inventory = 20% × second quarter sales
= 20% × 20,000 = 4,000 units
<em />
<em>Production budget for the first quarter</em>
=17,000 + 4000 -4500
= 16,500 units
Answer:
$800
Explanation:
Since $50,800 are available for distribution, the payments will start with the trustee, the lawyers and the suppliers:
- trustee will receive $15,000
- lawyers will receive $10,000
- Dart will receive $20,000
- <u>Noll will receive $5,000 </u>
After the suppliers, lawyers and trustee are paid, only $800 are left and they will be given to Boyd. The creditors with unsecured claims will get $0.
