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g100num [7]
2 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]2 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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Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121
mash [69]

Answer:

Option (b) is correct.

Explanation:

Given that,

Estimated total fixed manufacturing overhead = $121,000

Estimated direct labor-hours for the period = 10,000

Actual total fixed manufacturing overhead = $113,000

Actual total direct labor-hours during the period = 10,900

Predetermined overhead rate:

= Estimated total fixed manufacturing overhead ÷ Estimated direct labor hours

= $121,000 ÷ 10,000

= $12.10

Therefore, the predetermined overhead rate is closest to $12.10.

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3 years ago
How would I write ChinaDollStudios as an abbreviation in Chinese?
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3 years ago
You need a loan of ​$140,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Bri
nadezda [96]

Answer:

  • Monthly Payment for Choice 1=$665.16
  • Monthly Payment for Choice 2=$627.10
  • Total Closing Cost for Choice 1=$241557.60
  • Total Closing Cost for Choice 2=$233456
  • (A)Choice 1 be the better choice the monthly payment is higher.
  • (D)Choice 2 be the better choice because the monthly payment is lower.

Explanation:

Amount of Loan needed = $140,000

  • A point is an optional fee which helps you get a lower interest rate on your loan.
  • Closing costs are the fees you pay when obtaining your loan.

<u>Choice 1</u>

30-year fixed rate at 4% with closing costs of $2100 and no points.

Monthly Payment

P=$140,000

Monthly Rate=4% ÷ 12=0.04 ÷ 12=0.0033

n=12 X 30 =360

=\dfrac{Pr(1+r)^n}{(1+r)^n-1}

=\dfrac{140000X0.0033(1+0.0033)^{360}}{(1+0.0033)^{360}-1}\\=\dfrac{462(1.0033)^{360}}{(1.0033)^{360}-1}\\=\$665.16

Monthly Payment=$665.16

Total Closing Cost =(665.16 X 360)+2100=$241557.60

<u>Choice 2</u>

30-year fixed rate at 3.5% with closing costs of $2100 and 4 points.

Monthly Payment

P=$140,000

Monthly Rate=3.5% ÷ 12=0.035 ÷ 12=0.0029

n=12 X 30 =360

=\dfrac{Pr(1+r)^n}{(1+r)^n-1}

=\dfrac{140000X0.0029(1+0.0029)^{360}}{(1+0.0029)^{360}-1}\\=\dfrac{406(1.0029)^{360}}{(1.0029)^{360}-1}\\=\$627.10

Monthly Payment=$627.10

Total Closing Cost =(627.10 X 360)+2100+(4% of 140000)=$233456

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Trails End Vacations has a $2,200 account receivable from the Sun City Kiwanis. On March 11, the Kiwanis makes a partial payment
Pavlova-9 [17]

Answer:

Cash $1,050 (debit)

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Explanation:

When Kiwanis makes a partial payment to settle their account, in Trails Ends records, we recognize (1) an the increase in the assets of cash and (2) recognize a decrease in the assets of accounts receivable.

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