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IRISSAK [1]
3 years ago
13

For Sheffield Corp., the predetermined overhead rate is 70% of direct labor cost. During the month, $500000 of factory labor cos

ts are incurred of which $210000 is indirect labor. Actual overhead incurred was $360000. The amount of overhead debited to Work in Process Inventory should be: $360000 $350000 $290000 $203000
Business
1 answer:
olganol [36]3 years ago
7 0

Answer:

$203,000

Explanation:

Sheffield corporation has a predetermined overhead rate of 70%

During the month $500,000 of the factory labour cost have $210,000 in indirect labor

Therefore the amount of overhead debited to work in process inventory can be calculated as follows

= $500,000-$210,000 × 70/100

= 290,000 × 0.7

= $203,000

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Choate International plans to issue $15 million in 10-year bonds. They believe they can afford to pay $1,150,000 in interest to
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Answer:

Correct option is (B)

Explanation:

Given:

Bond issue amount = $15,000,000

Market interest rate = 7.75%

Investors cannot pay interest more than $1,150,000

Choate cannot choose 6.5%, the bond will become less attractive to investors as it indicates that the bond is selling at discount.

If 7.75% interest is given that is the market interest, then interest amount would be $1,162,500 (15,000,000 × 0.0775)

Choate cannot afford to pay more than $1,150,000, so it cannot offer bonds at 7.75% or 8.1%.

The only option left is 7.65%. Interest amount would be $1,147,500 (15,000,000 × 0.0765) which is less than what the company can afford. Also, it is just marginally lesser than market interest rate of 7.75%, so bonds would still be attractive.

Choate should select 7.65%.

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3 years ago
Suppose that the average wage earner saves 7% of her take-home pay and spends the other 93%. Also suppose that 93% of any amount
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When poor performance is attributed to a lack of knowledge, team members are most likely to respond by
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5 0
2 years ago
A company reported beginning inventory of 100 units at a per unit cost of $25. It had the following purchase and sales transacti
patriot [66]

Answer:

14-Jan

Dr Trade Receivable $1,125

Cr Sales

14-jan

Dr Cost of sales 625

Cr Inventory 625

9-Apr

Dr Inventory 375

Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales $2,500

2 sep

Dr Cost of sales $1,375

Cr Inventory $1,375

Dec 31 No journal entry

Explanation:

Preparation to Records the month-end journal entries noted below, assuming the company uses a periodic inventory system

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Dr Trade Receivable $1,125

Cr Sales (45*25)

14-jan

Dr Cost of sales[25*25] 625

Cr Inventory 625

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Cr Trade Payable 375

2-Sep

Dr Trade Receivable $2,500

Cr Sales (50*50) $2,500

2 Sep

Dr Cost of sales $1,375

Cr Inventory $1,375

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8 0
2 years ago
If the marginal product of labor is increasing, the marginal cost of output must be
SVETLANKA909090 [29]
Your answer would be, If the Marginal Product of labor increases/rises, The Marginal Cost of Output FALLS.



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Hope that helps!!!
4 0
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