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Olegator [25]
3 years ago
8

Predetermined Overhead Rate, Overhead Variances, Journal Entries Craig Company uses a predetermined overhead rate to assign over

head to jobs. Because Craig's production is machine intensive, overhead is applied on the basis of machine hours. The expected overhead for the year was $4,910,400, and the practical level of activity is 372,000 machine hours. During the year, Craig used 379,000 machine hours and incurred actual overhead costs of $4,922,800. Craig also had the following balances of applied overhead in its accounts:
Work-in-process inventory $620,800
Finished goods inventory 627,200
Cost of goods sold 1,952,000

Required:

a. Compute a predetermined overhead rate for Craig. Round your answer to the nearest cent.
b. Compute the overhead variance, and label it as under- or overapplied.
c. Assuming the overhead variance is immaterial, prepare the journal entry to dispose of the variance at the end of the year.
d. Assuming the overhead variance is material, prepare the journal entry that appropriately disposes of the overhead variance at the end of the year.
Business
1 answer:
Ipatiy [6.2K]3 years ago
7 0

Answer:

Very Good Answer.. By study this Indian great Pilot...

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If the real rental price of capital is $10,000 per unit and the real cost of capital is $9,000 per unit, to maximize profits a f
Phoenix [80]

Answer:

Add to its capital stock.

Explanation:

Rental firms earn profit by buying goods and renting them out at a price higher.The advantage of owning capital is the real rental price of capital for the units of capital owned and rented.

In this case, the real rental price of capital is $10,000 per unit where as the real cost of capital is $9,000 per unit. This means the firm is getting a profit from the business of $1000 per units assuming interest on their loans, cost of loss/ gain  on the price of capital and depreciation costs are taken care.To maximize profit at this level, the firm can increase capital stock by buying more goods and renting them out at the current real rental price of capital.

8 0
3 years ago
Which fact supports the idea that renting is a good
kipiarov [429]

The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

It is obtaining a owner's property, in return for regular payments.

Hence, the fact that support the idea that renting is a good is Landlords take care of most maintenance.

Learn more about renting here : brainly.com/question/13393299

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3 0
2 years ago
The security market line is a positively sloped straight line that displays the relationship between expected return and _______
Svetllana [295]

Answer:

E) beta

Explanation:

The security market line (SML) can be regarded as a line that is drawn on a chart which represent the capital asset pricing model. And it allows to know the expected of security which can be attributed to the function of non-diversifiable risk as well as systematic

.It should be noted that The security market line is a positively sloped straight line that displays the relationship between expected return and beta

5 0
3 years ago
10. Crowding out effect Suppose economists observe that an increase in government spending of $13 billion raises the total deman
Lilit [14]

Answer:

Explanation:

Effect of crowding out:

The crowding out phenomena describes the economic phenomena in which an increase in government public spending leads to reduced or perhaps may eliminate of private investment.

Multiplier:

The multiplier represents the ratio of income to investment change.

Given that:

$13 billion increase in government spending will lead to a $52 billion

The rise in demand for goods & service will be the value of multiplier which is

= 52/13

= 4

To determine the multiplier using the formula:

Multiplier = 1 /( 1- MPC)

4 = 1/(1 - MPC)

4 (1 - MPC) = 1

(1- MPC) = 1/4

-MPC = 0.25 - 1

MPC = 0.75

Marginal propensity to consume = 0.75

6 0
3 years ago
A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 8 percent. U
lana [24]

Answer:

$146,212.00  

Explanation:

PMT which is the annual savings is $2000

Rate  is 8%

The annual savings would last for 25 years(65-40)

FVIFA FACTOR=(1+r)^n-1/r

r=8%

n=25

FVIFA FACTOR=(1+8%)^25-1/8%

FVIFA FACTOR=(1.08)^25-1/0.08

FVIFA FACTOR=(6.848475196-1)/0.08=73.106

Amount in the account at retirement=PMT*FVIFA FACTOR

Amount in the account at retirement=$2000*73.106=$146,212.00  

6 0
2 years ago
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