Responsibility report for the financial period of the overhead costs incurred will have a negative shortfall and a difference of $4125 for the controllable costs.
<h3>What are overhead costs?</h3>
Overhead costs are such costs which are continuously in an organization while operating in the regular course of business. The overhead costs are estimated before they are actually incurred for efficiency of cost allocation.
The responsibility report for the overhead costs incurred by Malone Company for the given period are attached with an image for better reference.
Hence, it can be stated that the controllable costs' responsibility report shows as overhead costs of negative difference of $4125.
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Answer:
The dividends payout to preferred stockholders is $113,400 as shown below.
Explanation:
The total dividends payable to holders of preferred shares can be computed thus:
Preferred shares dividends=9000*$90*14%
Preferred shares dividends =$113,400
Preferred shareholders have prior claims to dividends ahead of ordinary shareholders,but after bondholders' interest payments have been settled.
The same way they also have precedence in the distribution of company's assets before ordinary shareholders upon the liquidation of the company.
The downside is that they cannot share in excess profits after payment of dividends as they are part-owners of the company unlike ordinary shareholders.
Answer
The answer and procedures of the exercise are attached in the following image.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
