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3 years ago

Wings Co. budgeted $555,600 manufacturing direct wages, 2,315 direct labor hours, and had the following manufacturing overhead:

Business

1 answer:

Dahasolnce [82]3 years ago

3 0

Answer:

the overhead cost assigned to Job 971 is $1,020

Explanation:

The computation of the overhead cost assigned to Job 971 is shown below:

= Budgeted Machine overhead cost ÷ Number of set up

= $13,200 ÷ 390

= 34

Now the overhead cost assigned is

= 30 setups × 34

= $1,020

hence, the overhead cost assigned to Job 971 is $1,020

Therefore the last option is correct

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A corporation issues for cash $1,000,000 of 10%, 20-year bonds, interest payable annually, at a time when the market rate of int

Jet001 [13]

Answer: The following statements is true: The amount of unamortized discount decreases from its balance at issuance date to a zero balance at maturity.

Unamortized discount amount is decreased from balance at provision to a nil balance at due date. This is so , as it will be liquidated over entire bond’s life and thus will reach $ 0 maturity.

Therefore, the correct option is (c).

6 0

3 years ago

Glueck Corp. reports sales revenue of $200,000. During the year, the company's accounts receivable balance decreased by $14,000.

Hoochie [10]

Answer:

Increase allowance and Sales revenue of $200,000

Explanation:

Since the focus is on journal entry for cash collected from customers, therefore it should include the increase in the debt expense allowance and the $200,000 sales revenue.

8 0

3 years ago

Northwest Building Products (NBP) manufactures two lumber products from a joint milling process: residential building lumber (RB

valentina_108 [34]

Answer:

Northwest Building Products (NBP)

The completed cost that should be assigned to each unit of CB is $5.18.

Explanation:

a) Data and Calculations:

Joint cost = $450,000

Residential building lumber (RBL) produced = 80,000 units

Commercial building lumber (CBL) produced = 120,000 units

Total units produced = 200,000

RBL selling price per unit = $10; Total revenue = $800,000

CBL selling price per unit = $12; Total revenue = $1,440,000

Total revenue for RBL and CBL = $2,240,000

a. Joint costs allocation on physical measure method:

RBL = $450,000 * 80,000/200,000 = $180,000

CBL = $450,000 * 120,000/200,000 = $270,000

b. Joint costs allocation on sales value basis:

RBL = $450,000 * $800,000/$2,240,000 = $160,714

CBL = $450,000 * $1,440,000/$2,240,000 = $289,286

c. Net Realizable value after further processing:

RBL: Completed cost = $380,000 ($180,000 + $200,000)/

Total revenue = $960,000 ($12 * 80,000)

Total cost of production 380,000

Net realizable value = $580,000

CBL: Completed cost = $570,000 ($270,000 + $300,000)

Total revenue = $1,540,000 (110,000 * $14)

Total cost of production = 570,000

Net realizable value = $970,000

Cost per CBL = $5.18 ($570,000/110,000)

8 0

3 years ago

"A customer buys a Brokered CD for $100,000. Upon receipt of his next account statement, the customer sees that the market value

Dmitry_Shevchenko [17]

Answer:

market rates have increased

Explanation:

Bonds as well as brokered CDs are priced depending on the market's interest rates for similar investments. For example, the CD pays a 3% interest, and then the market rate increases to 3.1% (or more), the CD's price will decrease. On the other hand, if the market rates decrease to 2.9% (or less), the CD's price will increase.

8 0

3 years ago

Which is not a part of your budget?

rewona [7]

Answer:

d.) discretionary expenses

Explanation:

We can explain going further into what is each item.

A and B are your income (for this question don’t sweat about the difference between gross and realized). They will constitute all the money you have in that period (the period will depend on the regularity of your income, it could be weekly, monthly, etc.).

Your fixed expenses are the things you will expend money on which, no matter what happens, will not change (it could be your rent, tax, health insurance, etc.).

Discretionary expenses, however, are costs that are things that you WANT, not NEED. It could go anywhere from a new shoe to a new boat (if you´re feeling rich, that is lol). That kind of expense will impact your available money (hey, nothing is free) but is not part of your budget as it is not a planned cost.

However, is important to note that if you wanna be super Monica Geller with your money you should forecast your discretionary expenses. Using your history as a base for calculating will eliminate most of the margin error.

4 0

3 years ago