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2 years ago

A normal cost system applies overhead to jobs ________.

1 answer:

7 0

By multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job. :) hope that helped

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If two individuals are licensed in the same line with two different companies join together to sell a policy, the commission can

NISA [10]

<h3>Answer:</h3>

The commission can be shared between the two agents.

<h3>Explanation:</h3>

Many times different companies collaborate with each other to sell a particular policy to maximize their profits. When there are two agents licensed in the same line and when the two companies collaborate to sell a policy then the commission is shared between the agents.

This is because they will work together for the profits and that when the two companies collaborate they become one to sell the policy. The agents work together and the commission is given to them as a whole. This is a common practice when two companies work together.

4 0

3 years ago

Schneider, Inc., had the following information relating to Year 1: Budgeted factory overhead: $74,800 Actual factory overhead: $

astraxan [27]

Answer:

The actual direct labor hours are 45,000.

The overhead rate for Year 2 is $1.74.

Explanation:

Compute the actual direct labor hours:

$\begin{aligned}\text{Actual direct labor hours}&=\dfrac{\text{Applied overheads}}{\text{Overhead rate}}\\&=\dfrac{\$76,500}{1.7}\\&=45,000\end{aligned}$

Therefore, the actual direct labor hours are 45,000.

Compute the overhead rate for Year 2:

$\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Actual overheads}}{\text{Actual direct labor hours}}\\&=\dfrac{\$78,300}{45,000}\\&=1.74\end{aligned}$

Therefore, the overhead rate for Year 2 is $1.74.

Working note:

Calculate the overhead rate for Year 1:

$\begin{aligned}\text{Overhead rate}&=\dfrac{\text{Budgeted overheads}}{\text{Estimated direct labor hours}}\\&=\dfrac{\$74,800}{44,000}\\&=1.7\end{aligned}$

7 0

3 years ago

Which is the correct definition for a brand mark?

LekaFEV [45]

Answer:a name, symbol, letter, or word legally registered to distinguish one company's product from any others and ensure its exclusive use

Explanation:

8 0

4 years ago

Read 2 more answers

Stan wants to start an IRA that will have $250,000 in it when he retires in 25 years. How much should he invest semiannually in

Wittaler [7]

25 years: No Payment, but total is 250000
6 months earlier. Payment of "P". It's value 1/2 year later is P(1+0.03)
6 months earlier. Payment of "P". It's value 1 year later is P(1+0.03)^2
6 months earlier. Payment of "P". It's value 1½ years later is P(1+0.03)^3
6 months earlier. Payment of "P". It's value 2 years later is P(1+0.03)^4

We need to recognize these patterns. Similarly, we can identify the accumulated value of all 50 payments of "P". Starting from the last payment normally is most clear.

P(1.03) + P(1.03)^2 + P(1.03)^3 + ... + P(1.03)^50
That needs to make sense. After that, it's an algebra problem.
P[(1.03) + (1.03)^2 + (1.03)^3 + ... + (1.03)^50]

P(1.03−1.03^51)/(1−1.03) = 250000

8 0

4 years ago

July 1 Beginning inventory 54 units at $122 5 Purchases 306 units at $114 14 Sale 204 units 21 Purchases 153 units at $117 30 Sa

Aneli [31]

Answer:

$19,356

Explanation:

July

1 Beg. Inventory 54 $122

5 Purchases 306 $114

14 Sale 204

21 Purchases 153 $117

31 Sale 143

Number of units left = (54+306-204+153-143)= 166

On LIFO(Last-in, first-out) basis, these 166 units of ending inventory cost;

= (54*122) + (166-54)*114 (Note:166-54 is to find the balance after the first 54)

= $6,588 + $12,768

= $19,356

5 0

3 years ago