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ohaa [14]
3 years ago
13

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that fa

ctory overhead costs would be $469,930 and direct labor hours would be 46,993. Actual factory overhead costs incurred were $523,248, and actual direct labor hours were 54,505. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year
Business
1 answer:
daser333 [38]3 years ago
7 0

Answer:

Overapplied overhead= $21,802

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

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

Predetermined manufacturing overhead rate= 469,930 / 46,993

Predetermined manufacturing overhead rate= $10 per direct labor hour

<u>Now, we can allocate overhead:</u>

<u></u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 10*54,505

Allocated MOH= $545,050

<u>Finally, the over/under allocation:</u>

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 523,248 - 545,050

Overapplied overhead= $21,802

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7 0
3 years ago
Bob Shockey borrowed $25,000 from his $250,000 cash value life insurance policy to send his daughter to private college. Assumin
MissTica

Answer:

e. $225,000.

Explanation:

Since Bob Shockey pays interest as in accrues, the amount the  beneficiary will receive if he dies before the debt is repaid will be the cash value of his life insurance policy minus amount borrowed to send his daughter to private college. This can be calculated as follows:

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3 0
3 years ago
You work for a firm producing fitness equipment. You have been told that the demand curve for the​ firm's main​ product, a​ mult
kirill115 [55]

Answer:

b. quantity with price as the explanatory variable because the demand curve is linear.

Explanation:

A linear demand curve can be defined as the graphical representation of the relationship between the quantity of goods or services that are being demanded by the consumers and the price of the goods or services at a specific period of time.

Generally, the x-axis of the graph is used to represent the price of the goods or services while the y-axis of the graph is used to represent the quantity of goods or services that are being demanded by the customers at a specific period of time.

In this scenario, You work for a firm producing fitness equipment and have been informed that the demand curve for the​ firm's main​ product, a​ multi-station home​ gym, is linear. Also, you have been provided with price and quantity data obtained from focus groups and have been asked to run a regression of revenue on price.

Hence, a linear functional form can properly be used to​ estimate quantity with price as the explanatory variable because the demand curve is linear.

Additionally, according to the law of demand, as the price of a particular product or service increases, there will be a decrease in the quantity that is being demanded by the consumers.

4 0
3 years ago
Answer completely and correctly please.
spin [16.1K]

Answer:

Explanation:

                                  September      October      Nov    December

Opening cash balance  - 9250          3490      3290       3090

Football tickets                (160)    

Entertainment                  (250)            (250)    (250)       (250)

Tuition fee                        (4,800)

Rent                                    (600)           (600)     (600)      ( 600)

Food                                   (550)           (550)      (550)       (550)

Apartment deposit            (600)                                           600

Earning                               1200           1200       1200        1200

                                           3490              3290     3090      3490

Covaig Kovar does not have enough cash for the tuition

The projected cash balance of $3490 is less than the tuition of $4800 by  $1310

With this budget he is able to realize that he needs to augment his cash inflow or cut his expenses to meet up

5 0
2 years ago
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