Answer:
$160 overapplied
Explanation:
Icy Mocha company estimates it's factory overhead costs to be $35,000 and machine hours to be 5,000 for a period of one year.
The actual number of hours worked on job 333 and 334 equals a total of 4,980
The actual factory overhead costs are $34,700
The first step is to calculate the predetermined overhead rate
= Overhead costs/machine hours
= $35,000/5,000
= $7
The amount of either over or underapplied factory costs can be calculated as follows
= predetermined overhead rate×actual number of hours worked
= $7×4,980
= $34,860
The amount is then subtracted from the actual overhead costs
= $34,700-$34860
= -$160
= $160 overapplied
Hence the amount of overapplied factory overhead is $160
Answer: Turn down the acquisition offer and prepare to resist a hostile takeover.
Explanation:
Since Johnson analysed the past performance of Openlane hardware and found out that past performance, conducting focus groups, and interviewing Openlane employees, Johnson concludes that the company has poor profit margins, sells shoddy merchandise, and treats customers poorly, then Johnson and Conecom Hardware should turn down the acquisition offer and prepare to resist a hostile takeover.
In this case, the merge between the companies will have a negative impact on Johnson and Conecom hardware due to the fact that the company has a bad reputation already and this can have an effect on Conecom. Therefore, the acquisition offer should be turned down.
Joel is asked to provide a description of his neighbor's car after the car and the neighbor both disappear. he is surprised to find that he really can't accurately recall the make of the car or any special details that might help in identifying it. in this case, joel may be experiencing <u>Pseudoforgetting.</u>
Answer:
Net Sales = $100,100
Sales Return and allowances = $4,500
Net income = $33,700
Explanation:
Cost of goods sold 48,200
Gross Profit 51,900
Net Sales 100100
Sales Return and allowances = Sales - Net sales- Sales discounts = 107800-100100-3200 = 4500
Selling Expenses = Total operating expenses - General and Administrative Expenses = 18200 - 10400 = 7800
Net income = Gross profit - Total operating expenses
=51900-18200
= 33700
Answer:
Schrock record the $65,920 as the cost of the new van
Explanation:
The computation of cost of the new van is computed below:
= Purchase cost + sales tax + logo cost + safety testing cost
= $60,000 + $4,500 + $1,200 + $220
= $65,920
where,
Purchase cost is $60,000
Sales tax is $4,500
Logo cost is $1,200
Safety testing cost is $220
The van annual license is not included in the cost of new wan. Thus, it is not consider in the computation part.
Hence, Schrock record the $65,920 as the cost of the new van
