Answer:
1. Manufacturing overhead applied = Actual hours * Predetermined overhead rate
Manufacturing overhead applied = 13300 * $20
Manufacturing overhead applied = $266,000
From the question, Osborn Manufacturing actually incurred $275,000 of manufacturing overhead. Hence, the Manufacturing overhead is under-applied because the applied manufacturing overhead is less than the actual manufacturing overhead
Hence, Manufacturing overhead under-applied = $275,000 - $266,000
= $9,000
2. Since the applied manufacturing overhead is less than the actual manufacturing overhead, the gross margin would decrease by $9,000. The journal entry will use the under-applied manufacturing overhead for record.
Answer:
33,880,934 stocks
Explanation:
total number of authorized stocks = 60,000,000
stocks issued at beginning of the year = 36,356,357
treasury stocks at beginning of the year = 7,171,269
net change in total stocks outstanding = additional shares issued - increase in treasury stocks = 558,765 - 3,034,188 = -2,475,423
total number of stocks outstanding = outstanding stocks at the beginning of the year + net change in stocks outstanding = 36,356,357 -2,475,423 = 33,880,934 stocks
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Kraft, General Mills, Kellogg’s
