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-Dominant- [34]
3 years ago
7

Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of

the most recently completed year, the company estimated the labor-hours for the upcoming year at 61,000 labor-hours. The estimated variable manufacturing overhead was $11.00 per labor-hour and the estimated total fixed manufacturing overhead was $1,159,000. The actual labor-hours for the year turned out to be 64,600 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.)
Business
1 answer:
ss7ja [257]3 years ago
4 0

Answer:

$30.00 per labor - hour

Explanation:

Computation of the company's predetermined overhead rate for the recently completed year.

First step is to calculate the Variable manufacturing overhead using this formula

Variable manufacturing overhead = Variable manufacturing overhead per labor hour * Budgted labor hours

Let plug in the formula

Variable manufacturing overhead=$11 * 61,000

Variable manufacturing overhead=$671,000

Second step is to calculate Total estimated overhead cost using this formula

Total estimated overhead cost = Variable manufacturing overhead + Fixed manufacturing overhead

Let plug in the formula

Total estimated overhead cost=$671,000 + $1,159,000

Total estimated overhead cost=$1,830,000

Now let calculate the Predetermined overhead rate using this formula

Predetermined overhead rate = Total Estimated overhead cost / Estimated labor hours

Let plug in the formula

Predetermined overhead rate=$1,830,000 / 61,000

Predetermined overhead rate=$30.00 per labor - hour

Therefore the company's predetermined overhead rate for the recently completed year will be $30.00 per labor - hour

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If the number of unemployed persons in a country equals 24 million, the number of employed persons equals 8 million, and the num
antiseptic1488 [7]

Full Question:

If the number of unemployed persons in a country equals 24 million, the number of employed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:

a. 18%

b. 25%

c. 32%

d. 75%

Answer:

The correct answer is D) 75%                                                                            

Explanation:

Step 1:

The formula for unemployment rate is:

Unemployment Rate = (Number of Unemployed Persons / Labor Force) x 100

<u>The labor force is the sum of unemployed and employed persons</u>. By dividing the number of individuals whom are unemployed by labor force, you'll find the labor force participation, or unemployment rate.

Step 2

Therefore:

The labor force is arrived at by adding:

24 Million and 8 Million.

(24,000,000 + 8,000,000) = 32 Million

Step 3:

If number of unemployed persons is given as 24 Million, therefore

Unemployment rate = (24,000,000/32,000,000) x 100

Unemployment rate =   75%

Cheers!

8 0
3 years ago
Which of the following is NOT a proactive hiring procedure? a. ​conducting background investigations on prospective employees b.
velikii [3]

Answer:

The correct answer is letter "D": ​instilling in employees a desire to develop ethical awareness and courage to do the right thing.

Explanation:

Proactive hiring procedures are practices performed by the <em>Human Resources (HR) Department</em> of a company by which prospective employees are contacted not necessarily when there is an opening in the company but to establish a relationship with those individuals.  

Thus, <em>​instilling in employees a desire to develop ethical awareness and courage to do the right thing is an activity developed when people are already hired in a firm</em>. Then, it is not part of proactive hiring.

6 0
2 years ago
What is the purpose of using predetermined overhead rates: Variation in cost assignment due to short-term variations in volume c
Sunny_sXe [5.5K]

Answer:

All of the answers are correct.

Explanation:

At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated

The purpose of using pretermined overhead rates are

Delays in product costing can be avoided

Variation in cost assignment due to seasonality can be prevented

Variation in cost assignment due to short-term variations in volume can be prevented

The Use of predetermined overhead rates serves all the above purposes

Hence, all answers are correct.

6 0
2 years ago
To combine a range of cells into one large cell, you should highlight the cells and choose
Fittoniya [83]
1: A-merge
2: B- possible misspelled word
3: A- spark line
4: B
5: C- moves down one cell
6 0
3 years ago
Journalize the entries to record the following.
vredina [299]

Answer:

Explanation:

The journal entries are shown below:

1. Petty cash A/c $1,100

       To Cash A/c $1, 100

(Being the petty cash fund is established)

2. Office supplies A/c Dr $614

   Miscellaneous selling expense A/c Dr $200

   Miscellaneous administrative expense A/c Dr $145

   Cash short and over A/c $26

             To Petty cash A/c $985

(Being the expenses are recorded)

The Cash short and over is computed below:

= $1,100 - $115- $614 - $200 - $145

= $26

4 0
3 years ago
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