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natita [175]
3 years ago
7

Austin Company uses a job order cost accounting system. At the beginning of the year, the company's executives estimated that di

rect labor would be $2,000,000 (200,000 hours at $10/hour) and that factory overhead would be $1,500,000 for the current period. At the end of the year, the records show that there had been 180,000 hours of direct labor and $1,200,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead allocation rate
Business
1 answer:
almond37 [142]3 years ago
7 0

Answer:

$7.50 per direct labor hour

Explanation:

Calculation for the predetermined overhead allocation rate

Using this formula

Predetermined overhead allocation rate = Factory overhead/Direct labor hours

Let plug in the formula

Predetermined overhead allocation rate = $1,500,000/200,000 hours

Predetermined overhead allocation rate = $7.50 per direct labor hour

Therefore the predetermined overhead allocation rate is $7.50 per direct labor hour

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Amounts collected by the lender and held in a trust or impound account for future payment are called what?
Aleonysh [2.5K]

The amounts collected by the lender and held in a trust or impound account for future payment are called Reserves.

Reserves are earnings that have been appropriated or set apart, for use for a selected cause in addition down the road. A few examples of specific reserves include capital redemption reserves, contingency reserves, debenture redemption reserves, and dividend equalization reserves. each of these reserves has a particular purpose, but, if important, specific reserves can every so often be used for bills that are not their meant functions.

Reserves may be funded by way of annual working surpluses, or thru a funding plan. These price ranges are considered to be "savings bills" so no fees can be charged without delay to them; the simplest transfer object codes must be utilized to reserve money owed.

A lender is a man or woman, a set (public or non-public), or an economic institution that makes finances available to a person or business with the expectation that the price range could be repaid. Compensation will include the charge of any hobby or costs.

Learn more about economic institutions here brainly.com/question/4230044

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5 0
1 year ago
Breezy Company is disposing of equipment that was originally purchased for $550,000 and has $145,000 of accumulated depreciation
BARSIC [14]

Answer:

$405,000

Explanation:

The calculation of total amount is shown below:-

If the company disposes of the equipment to buy the new equipment, the sunk cost will be the old equipment's book value.

Sunk cost = Book value of the old Equipment

Sunk cost = Cost of equipment - Accumulated Depreciation

= $550,000 - $145,000

= $405,000

Therefore for computing the sunk cost we simply deduct the accumulated Depreciation from cost of equipment

7 0
3 years ago
Sarjit and Rhonda have both recently completed graduate level training in liberal arts programs. Although they studied in differ
andre [41]

Economic classes refer to the position of people on the earning ladder. For Sarjit and Rhonda, the theory that classifies them into the same economic class is that of;

  • Karl Marx

According to Karl Marx, there are two economic classes, namely, the bourgeoisie and the proletariat. The bourgeoisie are the rich and working-class members of society while the proletariats are the workers.

Given this classification, Sarjit and Rhonda belong to the same economic class of workers.

Learn more here:

brainly.com/question/731472

3 0
3 years ago
The Wilson Company purchased $35,000 of merchandise from the Poole Wholesale Company. Wilson also paid $2,800 for freight costs
Olin [163]

Answer:

Option A, total debits to the inventory account would be $37,800, is correct

Explanation:

The cost of the merchandise inventory to Wilson Company is the cost of the inventory purchased and the freight-in cost.

In other words, the amount to be recognized in merchandise inventory account is the sum of both amounts i.e $35,000+$2800=$37,800

This would be debited to merchandise inventory and $2,800 would be credited to the cash account while $35,000 is credited to accounts payable

4 0
3 years ago
Zeta, Inc., a calendar year taxpayer, suffers a casualty loss of $45,000. Zeta recovered insurance of $30,000. How much of the c
mezya [45]

Answer:

$15,000

Explanation:

Calculation to determine How much of the casualty loss will be a tax deduction to Zeta, Inc.

Using this formula

Casualty loss tax deduction=Casualty loss-Insurance recovered

Let plug in the formula

Casualty loss tax deduction=$45,000-$30,000

Casualty loss tax deduction=$15,000

Therefore the amount of the casualty loss that will be a tax deduction to Zeta, Inc. is $15,000

3 0
2 years ago
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