1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yanalaym [24]
3 years ago
6

Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,800 Direct materials used

$25,600 Salary of factory supervisor $37,800 Sales commissions $8300 Heating and lighting costs for factory $22,900 Depreciation on factory equipment $5500 Advertising expense $33,100 The company estimates that 2000 direct labor hours will be worked in the upcoming year, while 2800 machine hours will be used during the year. The predetermined manufacturing overhead rate per direct labor hour is closest to $33. $98. $31. $54.
Business
1 answer:
jenyasd209 [6]3 years ago
8 0

Answer:

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,800

Heating and lighting costs for factory $22,900

Depreciation on factory equipment $5500

The company estimates that 2000 direct labor hours will be worked in the upcoming year.

<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= (37,800 + 22,900 + 5,500) / 2,000

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

You might be interested in
Exercise 183 Wayne Company reported net income of $265,000 for 2020. Wayne also reported depreciation expense of $45,000 and a l
Cerrena [4.2K]

Answer:

Net cash flow of the operating activities is $356,000

Explanation:

                               Wayne Company

                   Partial statement of Cash flow

          For the year Ended December 31, 2021

Cash flow from operating activities:

Net Income                                                         $265,000

<em />

<em>Adjustment to reconcile net income to net  </em>

<em>cash provided by operating activities</em>

Depreciation expenses                    $45,000

Loss on sale of equipment               $8,000

Decrease in accounts receivable     $15,000

Decrease in prepaid expenses         $6,000

Increase in accounts payable            <u>$17,000</u>    <u>$91,000</u>

Net cash provided by operating activities       <u>$356,000</u>

7 0
3 years ago
If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are.
BigorU [14]

FOB shipping point

Explanation:

FOB affects the buyer's inventory cost adding liability for shipped goods increases inventory costs and reduce net income.

3 0
1 year ago
A student who receives a Direct Stafford Loan must complete the _____, in which he or she promises to repay the loan.
icang [17]
I think it's D


I hope it helped you!
7 0
3 years ago
Read 2 more answers
The current USD/euro exchange rate is 1.4000 dollar per euro. The six month forward exchange rate is 1.3950. The six month USD i
Zigmanuir [339]

Answer:

the six month euro interest rate is 1.36%

Explanation:

Spot exchange rate: 1.4 USD/ EUR

6 month forward rate: 1.3950 USD/EUR

Domestic interest rate: 1% pa

Foreign interest rate: the six month euro interest rate?

We have the formula:

Forward rates =  Spot rate * (1+domestic interest rate)/(1+foreign interest rate)

⇔ 1.3950 = 1.4 *(1+1%)/(1+foreign interest rate)

⇔ 1+foreign interest rate = 1.4 *(1+1%)/1.3950

⇔foreign interest rate = 1.01362 - 1 = 0.01362

⇒ the six month euro interest rate is 1.36%

7 0
4 years ago
Amend Inc. debited Accounts Receivable and credited Allowance for Uncollectible Accounts to reestablish an account previously wr
goldfiish [28.3K]

Answer:

Cash; account receivable

Explanation:

The journal entry to reestablish an account previously written off is given below:

Cash Dr XXXXX

   To account receivable XXXXX

(being the reestablish an account previously written off is recorded)

Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets

5 0
3 years ago
Other questions:
  • The most recent data from the annual balance sheets of N&amp;B Equipment Company and Jing Foodstuffs Corporation are as follows:
    11·1 answer
  • Kathy is working her way through college. she has a job at burger fast where she makes an annual salary of $12,500. what is her
    9·1 answer
  • At Taylor Activewear, orders have significantly exceeded projections, and Macon, the operations director, has decided to hire fo
    14·1 answer
  • Suppose a government finances its expansionary fiscal policy by borrowing from the public. Joseph is concerned that this will in
    14·1 answer
  • The factor that has the greatest impact on your credit score is
    5·2 answers
  • Western Electric has 21,000 shares of common stock outstanding at a price per share of $61 and a rate of return of 15.6 percent.
    6·1 answer
  • You are the new manager in an Indian office. You ask one of your supervisors to move a desk and place it in another corner of th
    14·1 answer
  • 1. What question should your content always answer?
    8·1 answer
  • In a statement of cash flows using the indirect method, an increase in available-for-sale securities due to an increase in their
    7·1 answer
  • The Industrial Revolution was characterized by a(n) Group of answer choices migration of manufacturing jobs from the Midwest and
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!