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g100num [7]
3 years ago
6

The management of Featheringham Corporation would like to investigate the possibility of basing its predetermined overhead rate

on activity at capacity. The company's controller has provided an example to illustrate how this new system would work. In this example, the allocation base is machine-hours and the estimated amount of the allocation base for the upcoming year is 67,400 machine-hours. Capacity is 80,400 machine-hours and the actual level of activity for the year is assumed to be 64,400 machine-hours. All of the manufacturing overhead is fixed and both the estimated amount at the beginning of the year and the actual amount at the end of the year are assumed to be $2,836,512 per year. It is assumed that a number of jobs were worked on during the year, one of which was Job Z77W which required 450 machine-hours. If the company bases its predetermined overhead rate on capacity, then the predetermined overhead rate is closest to:
Business
1 answer:
Wewaii [24]3 years ago
3 0

Answer:

the predetermined overhead rate is $35.28

Explanation:

The computation of the predetermined overhead rate is given below:

The Predetermined overhead rate is

= Estimated overhead ÷ Capacity hours

= $2,836,512 ÷ 80,400 machine hours

= $35.28

hence, the predetermined overhead rate is $35.28

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How does the overall economy and it’s various aspects impact your life and finances?
irinina [24]
Well the economy is basically what our money runs on. Why things are a certain price and things like that. That effects us as citizens Bc here maybe a gallon of milk is 3 dollars but maybe the same gallon of milk is less money in another country. The economy effects me Bc helps determine how much money I make and how much to spend on certain items.
4 0
3 years ago
Check my workCheck My Work button is now enabledItem 15 Time Remaining 2 hours 27 minutes 1 second02:27:01 Exercise 8-16 Direct
Step2247 [10]

Answer:

Zan Corporation

Production Department

Quarters                                1st            2nd           3rd          4th       Total

1. Raw materials              50,000g   62,000g  54,000g  44,000g 210,000g

  Purchased

2. Cost of purchases    $60,000   $74,400  $64,800  $52,800 $252,000

3. Total disbursement   $38,880  $68,640  $68,640   $57,520  $233,680

4. Direct labor costs      $11,500    $18,400    $16,100   $13,800    $59,800

Explanation:

a) Data and Calculations:

Forecast Production

Quarters                               1st            2nd           3rd            4th       Total

Units to be produced        5,000        8,000       7,000       6,000     26,000

Grams required               40,000g   64,000g  56,000g   48,000g 208,000

Beginning Inventory          6,000g    16,000g   14,000g    12,000g   6,000g

Raw materials purchase 50,000g   62,000g  54,000g   44,000g 210,000g

Ending Inventory             19,200g     16,800g   14,400g      9,600g

Cost of purchases        $60,000   $74,400  $64,800   $52,800  $252,000

Beginning Inventory cost  7,200     19,200      16,800      14,400

Total Cost of materials $67,200  $93,600   $81,600   $67,200

Cost of materials used $48,000  $76,800  $67,200   $57,600

Grams required by 1 unit        8 gm

Cost of 1 gm = $1.20

Ending Raw materials

25% of next quarter's  16,000gm    14,000gm  12,000gm  8,000gm

Accounts Payable

Beginning balance         $2,880

Cost of purchases       $60,000   $74,400  $64,800   $52,800  $252,000

Cash Disbursement for purchases of materials:

Cash Payment:                  1st            2nd           3rd            4th       Total

60% quarter acquired  36,000      44,640     38,880      31,600

40% in ffg quarter          2,880      24,000     29,760     25,920

Total disbursement   $38,880    $68,640  $68,640   $57,520  $233,680

Cost of direct labor:

Each unit requires 0.20 direct labor-hours at $11.50 per hour

Quarters                               1st            2nd           3rd            4th       Total

Units to be produced       5,000        8,000       7,000       6,000     26,000

Total direct labor-hours    1,000         1,600        1,400       1,200        5,200

Direct labor costs          $11,500     $18,400    $16,100   $13,800   $59,800

7 0
3 years ago
1) Markets and competition In a perfectly competitive market, all producers sell___________ goods or services. (perfectly identi
marishachu [46]

Answer:

The answers are,

1) Perfectly Identical

2) many

3)takers

4)false

Explanation:

Lettuce is a commodity that can't be differentiated much based on the product. It can be however, differentiated from branding, packaging, etc.

But since the Lettuce is a broad category, we can assume that it is a competitive market.

Perfectly competitive markets do not really exist in the real world and are more of a hypothetical scenario. However, knowing the concept allows businesses and governments to make sound economic decisions regarding production and consumption.

3 0
3 years ago
Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one
IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

8 0
3 years ago
Keisha is renting a one-bedroom apartment but allows her best friend to move in and pay $200 per month to sleep on the couch for
sasho [114]

Answer:

It would be A. None of these items.

Explanation:

Insurance would never cover a TV, headphones, and two laptops.

6 0
2 years ago
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