Select the correct answer.

The Thomlin Company forecasts that total overhead for the current year will be $11,420,000 with 157,000 total machine hours. Yea

Alex17521 [72]

Answer:

Under/over applied overhead= $1,899,000 underallocated

Explanation:

Giving the following information:

Estimated overhead= $11,420,000

Estimated machine-hours= 157,000

Actual overhead is $7,958,000 and the actual machine hours are 83,000 hours.

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 11,420,000/157,000

Predetermined manufacturing overhead rate= $73 per machine hour

Now, we can allocate overhead:

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

Allocated MOH= 73*83,000= $6,059,000

Finally, we can determine the under/over allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 7,958,000 - 6,059,000

Under/over applied overhead= $1,899,000 underallocated

8 0

3 years ago

PLEASE HELP URGENT Use what you know from your reading and explain how the Scopes Trial was a reflection of the 1920s cultural c

saul85 [17]

The trial of John Scopes showed that people were beginning to get tired of oppression even if it meant that the oppression was legal. One could say that his trial was the beginning of shifts in social paradigms.

<h3>What was the scopes trial about?</h3>

The Scopes Trial, which is also referred to by historians as the Scopes Monkey Trial, was the prosecution of John Scopes, a science teacher in 1925, for teaching about evolution in a Tennessee public school.

John Scope was protected because a recent bill had such teaching or topics illegal.

Learn more about The scopes trial at:
brainly.com/question/3434522

8 0

2 years ago

The accountant at Metlock, Inc. is figuring out the difference in income taxes the company will pay depending on the choice of e

Lisa [10]

Answer:

$339

Explanation:

Computation of the given data are as follows:

Income before tax in FIFO = $15,730

Tax rate = 30%

So, the Tax amount for FIFO = $15,730 × 30%

= $4,719

And, Income before tax in LIFO = $14,600

Tax rate = 30%

So, the Tax amount for LIFO = $14,600 × 30%

= $4,380

So, the difference in tax amount = Tax amount for FIFO - Tax amount for LIFO

= $4,719 - $4,380

= $339

6 0

3 years ago

The risk that a central bank will not make the necessary transfer of foreign currency to complete a currency settlement is known

motikmotik

Answer:

Herstatt.

Explanation:

The risk that a central bank will not make the necessary transfer of foreign currency to complete a currency settlement is known as herstatt risk.

Herstatt risk is also known as cross-settlement risk or settlement risk. It was named after Bankaus Herstatt (a German bank) that failed in June 1974 when it was supposed to settle a contract for a payment received from the other party and consequently, amounting to a loss of about $602,000,000.

Hence, is mainly a loss in foreign exchange transactions where a party defaults after receiving money from another.

4 0

3 years ago

Southern Food Service operates six restaurants in the Atlanta area. The company pays rent of $20,000 per year for each shop. The

Evgesh-ka [11]

Answer:

mixed cost

Explanation:

Southern Food Service pays their employees on both a fixed and variable manner:

managers are paid on a monthly fixed way ($4,200 per month) ⇒ fixed cost
the rest of the employees are paid on an hourly basis, which obviously varies depending on the amount of hours each person works ⇒ variable cost

3 0

3 years ago