BUSINESS COLLEGE

Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain to the current year: Budgeted manufacturing overhead: $480,000 Actual manufacturing overhead: $440,000 Budgeted machine hours: 20,000 Actual machine hours: 16,000 Overhead applied to production totaled:Select one:a. $352,000b. $384,000c. $550,000d. $600,000e. some other amount

Answers

Answer 1
Answer:

Answer:

The correct answer is B: $384,000

Explanation:

Giving the following information:

Blakely charges manufacturing overhead to products by using a predetermined application rate computed based on machine hours.

The following data pertain to the current year:

Budgeted manufacturing overhead: $480,000

Actual manufacturing overhead: $440,000

Budgeted machine hours: 20,000

Actual machine hours: 16,000

First, we need to calculate the manufacturing overhead rate:

manufacturing overhead rate= total estimated manufacturing overhead/ total amount of allocation base

manufacturing overhead rate= 480000/20000= 424 per hour

Allocated manufacturing overhead= overhead rate*actual hours= 24*16000= 384,000

Related Questions

Kim received a one-third profits and capital interest in Bright Line, LLC, in exchange for legal services she provided. In addition to her share of partnership profits or losses, she receives a $30,000 guaranteed payment each year for ongoing services she provides to the LLC. For X4, Bright Line reported the following revenues and expenses: sales-$150,000, cost of goods sold-$90,000, depreciation expense-$45,000, long-term capital gains -$15,000, qualified dividends-$6,000, and municipal bond interest-$3,000. How much ordinary business income (loss) will Bright Line allocate to Kim on her Schedule K-1 for X4? a. ($15,000). b. $6,000. c. $9,000. d. $9,000. e. $15,000. f. None of the choices will be reported as ordinary business income (loss) on Schedule K-1.
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as students, what plan can you suggest to prevent the spread of these observable practices in your community​

Is there too much pressure on girls to have perfect bodies?

Answers

yes because girls feel like they have to please everyone and leave up to people expectations

Selected transactions for M. Coronado, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $11,700 cash in business.
3 Purchased used car for $3,510 cash for use in business.
9 Purchased supplies on account for $585.
11 Billed customers $2,808 for services performed.
16 Paid $410 cash for advertising.
20 Received $819 cash from customers billed on January 11.
23 Paid creditor $351 cash on balance owed.
28 Withdrew $1,170 cash for personal use by owner.
1. Journalize the above transactions.
Date Account Titles and Explanation Debit Credit
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28

Answers

Answer:

Jan.2

Dr Cash                      11,700

Cr Owner Equity       11,700

( to record owner's capital contribution to the business under the form of cash)

Jan.3

Dr Vehicles          3,510

Cr Cash               3,510

( to record the purchase of used car in cash)

Jan.9

Dr Supplies                  585

Cr Account Payable   585

(to record supplies purchase on account)

Jan.11

Dr Account Receivable          2,808

Cr Revenue                            2,808

( to record revenue earned in credit)

Jan.16

Dr Advertising expenses           410

Cr Cash                                      410

( to record advertising expenses paid in cash)

Jan.20

Dr Cash                              819

Cr Account Receivable    819

( to record the partial collection of receivables)

Jan.23

Dr Account Payable        351

Cr Cash                           351

( to record payment to creditor)

Jan.28

Dr Owner Equity              1,170

Cr Cash                           1,170

(to record owner's withdraw of capital in form of cash)

Explanation:

Assume Joe Harry sells his 25 percent interest in Joe's S Corp., Inc., to Tyrone on January 29. Using the daily allocation method, how much income does Joe Harry report if Joe's S Corp., Inc., earned $200,000 from January 1 to January 29 and a total of $1,460,000 from January 1 through December 31 (365 days)?a. $28,000.
b. $50,000.
c. $112,000.
d. $200,000.
e. None of the above.

Answers

Answer:

$29,000

Explanation:

Joe sells 25% of his interest to Joe's S corporation

= 25/100

= 0.25

Therefore using the daily allocation method, the amount of income reported if Joe earns $200,000 from January 1st to January 29th and a total of $1,460,000 for 365 days

= 1,460,000/365 days × 29 days × 0.25

= 4,000×29×0.25

= $29,000

Hence the amount of income reported by Joe Harry is $29,000

Please Help me, with this question for one of my class discussions. Think of a product and describe the stages of production the product goes through.

Answers

Answer:

Well, it depends on the product. But, I'd say, first, an idea for the product. Creating/designing and refining the product is next. Then, when finally satisfied, begin mass production

Explanation:

Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $85,800
Depreciation expense 12,500
Gain on sale of land 8,000
Increase in merchandise inventory 2,550
Increase in accounts payable 6,650

a. $37,400.
b. $13,150.
c. $94,400.
d. $14,150.
e. $29,400.

Answers

Answer:

c. $94,400

Explanation:

Net cash provided or used by operating activities is computed as see below;

Net cash provided or used by operating activities = Net income + Depreciation expense - Gain on sale of land - Increase in merchandise inventory + Increase in accounts payable

Net cash provided or used by operating activities = $85,800 + $12,500 - $8,000 - $2,550 + $6,650

Net cash provided or used by operating activities = $94,400

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Answers

Answer:

Answer is explained in the attachment.

Explanation:
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