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Umnica [9.8K]
3 years ago
13

Dream House Builders, Inc. applies overhead by linking it to direct labor. At the start of the current period, management predic

ts total direct labor costs of $100,000 and total overhead costs of $20,000. On January 31, the direct labor for this job equals $2,700.
Required:
Write the journal entry.
Business
1 answer:
sineoko [7]3 years ago
8 0

Answer:

Explanation:

To solve this question, we need to calculate the predetermined overhead rate first and this will be:

= Estimated overhead / Direct labor cost

= $20,000 / $100,000

= 20% of cost of direct labor

Then we calculate the factory overhead which will be:

= Direct Labor × Predetermined overhead rate

= $2700 × 20%

= $540

Then, the journal entry will be:

31 Dec:

Debit Work in Process $540

Credit: Factory overhead $540

(To record overhead applied).

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Shockglass Company had a beginning inventory of $15,000. During the year, the company recorded inventory purchases of $45,000 an
Otrada [13]

Answer:

A. $10,000

Explanation:

We know that :

cost of goods sold = opening inventory + purchases - ending inventory

hence,

Ending Inventory = opening inventory + purchases - cost of goods sold

therefore,

Ending Inventory = $15,000 +  $45,000 - $50,000

                              = $10,000

The ending inventory must equal: $10,000

8 0
3 years ago
Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produc
Mademuasel [1]

Answer:

Tucker Company

The number of board feet of wood that Tucker needs to purchase in February is:

=  46,297.

Explanation:

a) Data and Calculations:

Production Budget

                                               January   February      March      Total

Units Produced                         11,297       12,205      9,276   32,778

Board fee for each chair             4                4                4           4

Total board feet required       45,188       48,820     37,104    131,112

Board feet required               45,188       48,820     37,104    131,112

Ending Materials Inventory    9,764           7,421

Beginning Materials Inventory     (0)        (9,764)     (7,421)

Purchase of board feet        54,952      46,297

3 0
3 years ago
You make $10.25 per hour. You have 7.5% of your total pay taken out of your check for your 401K retirement plan. How much will b
Lera25 [3.4K]

The amount that will be taken off the pay check for the 401k retirements plan given all the criteria indicated above is $38.82 (Option D)

<h3>What is the computation justifying the above?</h3>

Given:

Pay Per Hour: $10.25

Bonus: $15.375‬ for every hour worked over forty hours.

Total Hour worked: 47 Hours

Percentage deductible: 7.5%

Total Pay thus =

(40 *10.25) + (7 *15.375)

= $517.625

Total 401 K deduction thus, =

7.5% * 517.625

401K Deduction total = $38.82

Learn more about 401k retirements plan:
brainly.com/question/2908111
#SPJ1

Full Question:

You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.

Select one:

A. $36.13

B. $69.02

C. $54.20

D. $38.82

E. $14.35

3 0
2 years ago
Le Place has sales of $439,000, depreciation of $32,000, and net working capital of $56,000. The firm has a tax rate of 34 perce
Dennis_Churaev [7]

Answer:

Explanation:

Sales$439,000

Profit Margin = 6% x $439,000 = $26,340

Tax liability = 34% x $26,340 = $8,956.

Cash flow from operations:

Net income $26,340

Add depreciation $32,000

Deduct net working capital changes -$56,000

Deduct tax liability $8,956

Cash flow from operating activities -$6,616

5 0
3 years ago
Will a u.s. treasury bill have a risk premium that is higher than, lower than, or the same as that of a similar security (in ter
aleksklad [387]

A U.S. Treasury bill will have a lower risk premium since U.S. government-issued securities are usually considered to be default free.

In comparison to a company bond with a Baa rating, a company bond with a score will have a higher risk premium on its interest. While compared to corporate bonds with a Baa rating, the C grade bond has a higher default risk, which reduces demand and increases interest rates.

The equity risk premium enables to set portfolio go back expectancies and decide asset allocation. A better top rate implies that you might make investments a greater percentage of your portfolio into shares. Capital asset pricing also relates a inventories anticipated go back to the equity premium.

Learn more about company here: brainly.com/question/24448358

#SPJ4

7 0
1 year ago
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