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max2010maxim [7]
3 years ago
6

Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours. Year to

date, the actual overhead is $7,955,000 and the actual machine hours are 85,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours. a.$140 per machine hour b.$51 per machine hour c.$76 per machine hour d.$94 per machine hour
Business
1 answer:
weqwewe [10]3 years ago
4 0

Answer:

Predetermined manufacturing overhead rate= $76.27 per machine hour

Explanation:

Giving the following information:

Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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

Predetermined manufacturing overhead rate= 11,898,000 / 156,000

Predetermined manufacturing overhead rate= $76.27 per machine hour

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In a process cost system, the application of factory overhead usually is recorded as an increase in?
vredina [299]

In a process cost system, the application of factory overhead usually is recorded as an increase in work in process inventory control.

<h3>What is the process costing system?</h3>
  • When a large number of similar products are manufactured, a process costing system accumulates costs.
  • A process costing method is used by any large-scale firm who produces huge quantities of identical commodities.
  • A petroleum refinery is a perfect example of a process costing environment since it is hard to trace the cost of a specific unit of oil as it passes through the refinery.

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5 0
2 years ago
The school board is trying to evaluate a new math program introduced to second-graders in five elementary schools across the cou
Komok [63]

Answer:

a) The chart tell us that all the point are between the upper and lower control limits, so the process is under control.

b) Since the process under control, the number of defects are controled and we know with a 99.3 % of certainty the average of them, so the program is  effective.

Explanation:

In order to draw a C chart we should calculate the  average test errors and the control limits of the chart

The average test errors is = (52+27+35+44+55)/5= 42.6 = c

This will be the middle line in the chart.

Then, the Upper and lower control limits are:

LCL=  c-m *sqr(c) and UCL= c+ m *sqr(c)

In this case, since we are told to contain the 99,7% of random variation, this means that we are working with a 6 sigma.

So m will be 3 (3 sigma) for the upper limit control and 3 (3 sigma) for the lower limit control:

LCL= 42.6 -3*sqr(42,6) = 23.0

UCL= 42.6+3*sqr(42,6) = 62.2

(the graphic is attached)

As we can see, al the test error values are between the control limits, so the program is undercontrol

Download xlsx
6 0
3 years ago
A major problem with the implementation of an annually balanced budget is that it?
djyliett [7]

Answer:

A major problem with the implementation of an annually balanced budget is that it magnifies the fluctuations in the business cycle.

3 0
2 years ago
You are planning your retirement in 10 years. You currently have $162,000 in a bond account and $602,000 in a stock account. You
UNO [17]

Answer:

Amount withdraw each year = $ 186,991.24

Explanation:

Amount accumulate at the time of retirement = FV of Current Investment in Bond + FV of Current Investment in Stock + FV of annuity deposited in bond

Amount accumulate at the time of retirement = 162000 x (1+7.5%)^10 + 602000 x (1+11%)^10 + 7800 x ((1+7.5%)^10 -1) / 7.5%

Amount accumulate at the time of retirement = $ 2,153,565.83

Amount withdraw each year = Amount accumulate at the time of retirement/Annuity factor

Amount withdraw each year = 2153565.83 / ((1-(1+6.75%)^-23) / 6.75%)

Amount withdraw each year = $ 186,991.24

7 0
3 years ago
Which of the following are requirements for a valid power of attorney to be accepted and used in conjunction with the offering o
gayaneshka [121]

Answer: E.) All of the above.

Explanation:

For the power of Attorney to be valid it needs to include certain things such as the names of both the Principal and the Agent who is to obtain the power. Both the principal and the agent must be properly identified as well.

They should also both be of a legal age of majority in the state where the agreement is being written. Finally, the Power of Attorney must not break any State law as relates to it in the state it was drafted.

3 0
3 years ago
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