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hichkok12 [17]
2 years ago
8

Lunker Lures makes ten different models of fishing lures. All ten models are completely crafted by hand using the same basic mat

erials; however, some of the models are more detailed and/or complex than others. Based on this information, which type of overhead costing system would be the best fit for Lunker
Business
1 answer:
maria [59]2 years ago
8 0

The type of overhead costing system that would be the best fit for Lunker is: Traditional costing system using design hours as the basis for allocation.

<h3>What is the Traditional Costing System?</h3>

The traditional costing system is a method applied in accounting that aims at determining the cost of production. One driver is assigned as the basis of allocation.

In the case of Lunker Lures above, the driver that is used as the basis of allocation should be design hours.

Learn more about the Traditional Costing System here:

brainly.com/question/24516871

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.

The number of units in ending inventory can be calculated using following formula :-

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An employee earns $6,350 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $118,500
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Answer:

$965.075

Explanation:

Payroll taxes for the month of January is = FICA +FUTA +SUTA+

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7 0
3 years ago
Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The
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Questions

Iaci Company makes two products from a common input. Joint processing costs up to the split-off point total $42,000 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Product X Product Y Total Allocated joint processing costs $22,400 $19,600 $42,000 Sales value at split-off point $32,000 $28,000 $60,000 Costs of further processing $11,600 $25,300 $36,900 Sales value after further processing $44,800 $53,200 $98,000 Required: (a) What is the net monetary advantage (disadvantage) of processing Product X beyond the split-off point?

Answer:

Net advantage from further processing  $1,200<u> </u>

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.  

Also note that all the joint costs incurred up to the split-off point are irrelevant to the decision to process further any of the .

Net monetary advantage of product X

                                                                                              $

Sales revenue after the split-off point                          44,800

Sales revenue at the split-off point                             <u>  (32,000)</u>

Additional sales revenue                                                  12,800

Further processing cost                                                    <u>(11,600)</u>

Net advantage from further processing                         <u>     1,200 </u>

Net advantage from further processing  $1,200<u> </u>

4 0
3 years ago
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