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Morgarella [4.7K]
3 years ago
10

Davidson Corporation manufactured 58,500 units during September. The following fixed overhead data relates to September: Actual

Static Budget Production 58,500 units 58,000 units Machine-hours 3,320 hours 3,480 hours Fixed overhead costs for September $170,220 $170,520 What is the amount of fixed overhead allocated to production
Business
1 answer:
Debora [2.8K]3 years ago
3 0

Answer:

$171,900

Explanation:

Davidson corporation manufactured 58,500 units during September

The first step is to calculate the fixed overhead machine cost per hour

= 170,520/3,480

= $48

The machine hours can be calculated as follows

= 3,480/58,000

= 0.06

The fixed overhead cost can be calculated as follows

= 0.06 × 49

= 2.94

Therefore the amount of fixed overhead that is allocated to production can be calculated as follows

= 58,500 × 2.94

= $171,900

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You have been provided with the following summarized accounts of Golden Times Ltd. For the year ended 31 March 2000:
daser333 [38]

The computation of the following financial ratios for Golden Times Ltd is as follows:

<h3>(i) Return on capital employed:</h3>

= Profit after tax/Total assets - current liabilities x 100

= 12.44% (Sh 224,000/ Sh 1,800,000) x 100

<h3>(ii) The profit margin:</h3>

= Profit after tax/Sales revenue x 100

= 5.6% (Sh 224,000/Sh 4,000,000 x 100)

<h3>(iii) The turnover of capital:</h3>

= Sales Revenue/Equity

= 2.86 x (Sh 4,000,000/Sh 1,400,000

<h3>(iv) Current ratio:</h3>

= Current Assets/Current Liabilities

= 1.09 (Sh 1,520,000/Sh 1,400,000)

<h3>(v) Liquid ratio:</h3>

= Current Assets less Stocks /Current Liabilities

= 0.37 (Sh 1,520,000 - Sh 1,000,000/Sh 1,400,000)

<h3>(vi) Number of days accounts receivable are outstanding:</h3>

= Average Accounts Receivable/Sales Revenue x 365

= (Sh. 400,000/Sh. 4,000,000 x 365

= 36.5 days

<h3>(vii) Proprietary ratio:</h3>

= Shareholders equity/Total assets x 100

= 43.75% (Sh. 1,400,000/Sh. 3,200,000)

<h3>(viii) Stock turnover ratio:</h3>

= Cost of goods sold / Average stock

= 2.11 x (Sh. 3,000,000/Sh. 1,420,000)

<h3>(ix) Dividend yield ratio:</h3>

= Dividend per share/Price per share

= 5.36% (Sh. 0.268/Sh.5 x 100)

<h3>(x) Price earnings ratio:</h3>

= Market price per share/Earnings per share

= 8.93x (Sh. 5/Sh. 0.56)

<h3>Data and Calculations:</h3>

Golden Times Ltd

<h3>Balance sheet</h3>

As at 31 March 2000

                                                              Sh.               Sh.                  Sh.

Fixed Assets:

Freehold property (Net Book Value)                                          480,000

Plant and machinery (Net Book Value)                                      800,000

Motor Vehicle (Net Book Value)                                                 200,000

Furniture and fittings (Net Book Value)                                     200,000

                                                                                                  1,680,000

Current Assets:

Stocks                                                                1,000,000

Debtors                                                                400,000

Investments                                                          120,000

                                                                          1,520,000

Current Liabilities:

Trade creditors                            338,400

Bank overdraft                            878,400

Corporation tax                           176,000

Dividends payable                      107,200      1,400,000         120,000

                                                                                               1,800,000

Financed by:

Authorized share capital – 800,000

Sh. 1 ordinary shares

Issued and fully paid: 400,000 Sh.1                                      400,000

Ordinary shares

Capital reserve                                                                      200,000

Revenue reserve                                                                   800,000

Loan capital: 400,000 10% Sh. 1 Debentures                     400,000

                                                                                            1,800,000

Golden Times Ltd

<h3>Profit and loss account</h3>

For the year ended 31 March 2000

                                                                                          Sh.

Sales (credit)                                                                 4,000,000

Profit after charging all expenses except interest on  440,000

debentures

Less: Debenture interest                                                (40,000)

Profit before tax                                                             400,000

Corporation tax                                                               176,000

Profit after tax                                                                224,000

Less: Ordinary dividend proposed                              (107,200)

Retained profit transferred to revenue reserve           116,800

Beginning stock = Sh. 1,840,000 (Sh. 3,000,000 + 1,000,000 - 2,160,000)

Average stock = Sh. 1,420,000 (Sh. 1840,000 + Sh. 1,000,000)/2

Dividend per share = Sh. 0.268 (Sh 107,200/400,000)

Earnings per share = Sh. 0.56 (Sh. 224,000/400,000)

Learn more about financial ratios at brainly.com/question/17014465

#SPJ1

7 0
1 year ago
Georgia, a widow, has take-home pay of $1,900 a week. her disability insurance coverage replaces 60 percent of her earnings afte
scoray [572]

Georgia will receive $17,100.

If Georgia was out of work for 19 weeks she would receive 60% of her weekly pay.

In order to calculate 60% you multiply $1,900 x .6 = $1,140.

Georgia’s Disability insurance will pay $1,140 per week after a four week waiting period. She is out for 19 weeks, so with the 4 week waiting period, she will collect benefits for 15 weeks. 15 weeks x $1,140 = $17,100 total.

5 0
3 years ago
Please help branliest to correct answer no guessing please
timofeeve [1]

Answer:

Education..

Explanation:

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4 0
3 years ago
Where can you find information about the cost of goods sold as well as total
yawa3891 [41]

The adjusted trial balance represents the cost of goods sold as well as total sales. Thus, option D is correct.

<h3>What is the cost of goods sold? </h3>

Cost of goods means the direct cost that is included in the making of the goods. The cost of goods is calculated by adding the purchase price of the commodity and deducting the closing inventory.

A report known as an adjusted trial balance lists all the debit and credit firm accounts exactly as they would appear on the accounting records after reconciliations have been made. Therefore, option D is the correct option.

Learn more about the cost of goods sold, here:

brainly.com/question/14665160

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Intel attends recruiting events such as a Hispanic chamber of commerce convention in order to attract diverse applicants. At the
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