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4 years ago

True or false: The plantwide overhead rate method uses multiple rates to allocate overhead costs to products.

Business

1 answer:

Alexxandr [17]4 years ago

8 0

Answer:

Flase.

Explanation:

The plantwide overhead rate method uses multiple rates to allocate overhead costs to products.

False.

As the name indicates, the plantwide overhead rate uses a single rate to allocate overhead. When the predetermined overhead rate is calculated using the activity base method, you have as many predetermined rates as activities.

To calculate a plant-wide overhead rate, you need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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Coates Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. T

andrew-mc [135]

Answer:

Selling price per unit= $233.87

Explanation:

Giving the following information:

Overhead:

Estimated overhead= $249,000

Variable manufacturing overhead= $3.80 per machine-hou

Estimated machine-hours= 30,000 machine-hours.

Job X784:

Number of units in the job 50

Total machine-hours 250

Direct materials $ 470

Direct labor cost $5,500

Selling price= 30% mark up

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (249,000/30,000) + 3.8

Predetermined manufacturing overhead rate= $12.1 per machine hour

Now, we can determine the total cost of Job X784:

Total cost= 470 + 5,500 + (12.1*250)

Total cost= $8,995

Finally, the selling price per unit:

Unitary cost= 8,995/50= $179.9

Selling price per unit= 179.9*1.30= $233.87

8 0

3 years ago

The cost of using/borrowing money is reflected in the

spayn [35]

Interest rate? Repayment amounts? Length of time of loan? Smile on the face of the money lender? Might there be a little more to this quesition?

8 0

3 years ago

Which of the following is a potential safety hazard?

maxonik [38]

Umm... I can't find the choices... So, those are the choices I made up that are correct to your question.

Spills covering grounds or falling hazards, such as blocked paths or cords going over the ground.
Working from heights, including ladders, scaffolds, roofs, or an elevated workspace.
Unguarded device and moving machine pieces; guards dismissed or moving pieces that a worker can unintentionally touch.

6 0

3 years ago

Read 2 more answers

Sep. 3 Purchased merchandise inventory on account from Shallin Wholesalers, $7,000. Terms 1/15, n/EOM, FOB shipping point.

myrzilka [38]

Answer:

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

Cr Merchandise Inventory $60

Cr Cash $5,940

Sep. 12

Dr Cash $5,445

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

Cr Sales Revenue $1,940

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

Explanation:

Preparation of the journal entries

Sep. 3

Dr Merchandise Inventory $7,000

Cr Accounts Payable—Shallin Wholesalers $7,000

Sep. 4

Dr Merchandise Inventory $55

Cr Cash $55

Sep. 4

Dr Merchandise Inventory $2,100

Cr Cash $2,100

Sep. 6

Dr Accounts Payable—Shallin Wholesalers $1,000

Cr Inventory $1,000

Sep. 8

Dr Accounts Receivable— Herenda Company $5,445

Cr Sales Revenue $5,445

[$5,500-(1%*$5,500)]

Sep. 8

Dr Cost of Goods Sold $2,255

Cr Merchandise Inventory $2,255

Sep. 9

Dr Merchandise Inventory $10,000

Cr Accounts Payable—Tripp Wholesalers $10,000

Sep. 10

Dr Accounts Payable—Shallin Wholesalers $6,000

($7,000-$1,000)

Cr Merchandise Inventory $60

(1%*$6,000)

Cr Cash $5,940

($6,000-$60)

Sep. 12

Dr Cash $5,445

[$5,500-(1%*$5,500)]

Accounts Receivable—Herenda Company $5,445

Sep. 13

Dr Accounts Payable—Tristan Wholesalers $100

Cr Merchandise Inventory $100

Sep. 15

Dr Accounts Receivable—Jesper Company $3,500

Cr Sales Revenue $3,500

Sep. 15

Dr Cost of Goods Sold $1,610

Cr Merchandise Inventory $1,610

Sep. 22

Dr Accounts Payable—Tristan Wholesalers $9,900

Cr Cash $9,900

($10,000-$100)

Sep. 23

Dr Refunds Payable $800

Cr Accounts Receivable—Jesper Company $800

Sep. 23

Dr Merchandise Inventory $368

Cr Estimated Returns Inventory $368

Sep. 25

Dr Accounts Receivable—Smithson $1,995

($1,940+$55)

Cr Sales Revenue $1,940

[$2,000-(3%*$2,000)]

Cr Cash $55

Sep. 25

Dr Cost of Goods Sold $780

Cr Merchandise Inventory $780

Sep. 29

Dr Cash $1,995

($1,940+$55)

Cr Accounts Receivable— Smithson $1,995

Sep. 30

Dr Cash $2,100

Cr Accounts Receivable—Jesper Company $2,100

5 0

3 years ago

You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three su

katrin [286]

Answer:

the price per unit is $1.20

Explanation:

The computation of the price per unit for Thailand Polishing is shown below:

= 2,400 ÷ 200 polished disks

= 12 bhat/unit

Given that

$1 = 10

So, 12 baht it is

= 1 ÷ 10 × 12 baht

= $1.2

Hence, the price per unit is $1.20

The same should be considered

4 0

4 years ago