Answer:
Instructions are listed below
Explanation:
Giving the following information:
Channing uses a two-stage cost allocation system, It uses direct-material costs to allocate direct-materials related overhead and direct labor costs to allocate direct-labor related overhead costs.
A1
Direct material 75,000
Direct labor 58,000
B2
Direct material 150,000
Direct labor 137,750
Overhead:
Direct-material related 54,000
Direct-labor related 50,895
A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 225,000/54000= 4.17 per direct material
B) Estimated manufacturing overhead rate= 195,750/50895= 3.85 per direct labor
C) Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH (A1)= 4.17*75000 + 3.85*1377550= 843,087.5
D) Allocated MOH (B2)= 4.17*54000 + 3.85*50895= 421,125.75
Answer:
a. The price of the stock today is $24.75
b. The price of the stock in three years will be $28.65
c. The price of the stock in 14 years will be $49.00
Explanation:
The stock is a constant dividend paying stock so the constant growth model of the DDM will be used to calculate the price of the stock. The formula for constant growth model to calculate price of the stock today is:
P0 = D1 / r - g
Where,
- D1 is the dividend next year of D0 * (1+g)
- r is the required rate of return
- g is the growth rate in dividends
a.
The current price of the stock is:
P0 = 1.65 * (1+0.05) / (0.12 - 0.05)
P0 = $24.75
b.
To calculate the price of the stock today, we use the expected dividend for the next period. To calculate the stock price in three years, we will use D4.
P3 = 1.65 * (1+0.05)^4 / (0.12 - 0.05)
P3 = $28.65
c.
To calculate the price in 14 years, we will use D15.
P14 = 1.65 * (1+0.05)^15 / (0.12 - 0.05)
P14 = $49.00
<span>The need for control. Control freaks are often perfectionists defending themselves against their own inner vulnerabilities in the belief that if they are not in total control they risk exposing themselves once more to childhood angst.</span>
Answer:
Dr Cost of Goods Sold 20,000
Cr LIFO Reserve (20,000
)
Explanation:
<u>Journal Entr</u>y
Dr Cost of Goods Sold 20,000
Cr LIFO Reserve (20,000
)
<u>Ending Balances after adjustment</u>:
<u>Stocks</u>:
Inventories 375,000
<u>LIFO Reserve </u> <u> (55,000
)</u>
Total: 320,000 ( Financial Statement and Income Tax compliance )
Answer:
Debit to income summary account = $2,770
Explanation:
The journal entry to close the expense account is shown below:
Income summary A/c Dr $2,770
To Salaries and wages expense $1,910
To Advertising expense $390
To Rent expense $ 230
To Supplies expense $160
To insurance expense $80
(Being expense accounts are closed)