Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $244,200 and 9,200 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $245,000 and actual direct labor-hours were 6,100. The overhead for the year was: (Round your intermediate calculations to 2 decimal places.)
Answers
Answer:
The overhead for the year will be $245,000
Applied overheads in the year are $161,894 and Underapplied overheads are $83,106 total charged to cost of goods sold will be $245,000
Explanation:
Predetermined overhead rate = total estimated overhead / estimated direct labor-hours
Predetermined overhead rate = 244,200 / 9,200
Predetermined overhead rate = 26.54 per labor hour
Overhead for the year = Predetermined overhead rate X Actual Direct Labor hours
Overhead for the year = 26.54 x 6100
Overhead for the year = 161,894.00
Underapplied overheads = 245,000 - 161,894 = 83,106.00
Final answer:
The overhead for the year is $162,317.
Explanation:
To calculate the overhead for the year, we need to use the predetermined overhead rate based on direct labor-hours. The predetermined overhead rate is calculated by dividing the total estimated overhead by the estimated direct labor-hours. In this case, the predetermined overhead rate is $244,200 / 9,200 labor-hours, which is $26.57 per labor-hour.
To find the overhead for the year, we multiply the actual direct labor-hours by the predetermined overhead rate. In this case, the actual direct labor-hours are 6,100. So the overhead for the year is 6,100 labor-hours * $26.57 per labor-hour, which equals $162,317.
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Answers
Answer:
Williams Construction’s payment would be $57.4 million
Explanation:
According to the given data we have the followng:
cost of new facility=$45 million
money borrowed=$42 million
interest rate=8%
Therefore, to calculate the amount of Williams Construction’s payment we would have to calculate the following formula:
amount of Williams Construction’s payment=P(1+r)∧n
amount of Williams Construction’s payment=$42 million(1+0.08)∧4
amount of Williams Construction’s payment=$57.4 million
Williams Construction’s payment would be $57.4 million
Answers
Answer:
a. No entry is required.
b. Payroll Dr. $30,000
Wages Payable Cr. $30,000
c. Payroll Dr. $30,000
Federal Income Tax Cr. $4,500
FICA Taxes Payable Cr. $2,400
Wages Payable Cr. $23,100
d. Payroll Dr. $30,000
Federal Income Tax Cr. $4,500
FICA Taxes Payable Cr. $2,400
SUTA Cr. $1,800
FUTA Cr. $300
Wages Payable Cr. $21,000
Answers
Answer:
relevant cost of debt financing to TC, Inc.= 8.75%
Explanation:
The yield to maturity is a proxy for a company's cost of capital as it reflects the return that a company provides to its debtholders. Given a yield to maturity equal to 12.5% and a tax rateof 30%, the after tax cost of debt is calculated as :
After tax cost of debt =
The relevant interest rate is thus equal to 8.75% due to the fact that interest is tax deductible.
Answers
Answer:
Ending WIP= $17,000
Explanation:
Giving the following information:
The cost of the beginning work in process inventory is $70,000
The costs of goods manufactured is $935,000
Direct materials cost is $339,000
Direct labor cost is $219,000
Allocated overhead cost is $324,000
Using the following formula, we can calculate the ending work in process:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
935,000= 70,000 + 339,000 + 219,000 + 324,000 - Ending WIP
Ending WIP= $17,000
Answers
Answer:
Price per share of MGDI's stock is $78
Explanation:
Earnings per share=Total earnings/Shares of common stock outstanding
=(13/2)=$6.5
PE ratio=Stock price/Earnings per share
Stock price=$6.5*12
=$78.
Answers
Answer:
= $120,500.00
Explanation:
Flexible budget is that which is that which recognizes the cost behavior and is used for control purpose. It is prepared based on the actual level of activity achieved.
Kindly note that the $59,000 depreciation is a fixed cost which do not vary with the hours of production.
The flexible budget for the department will be
Direct Labour budget = ( 51000/3400) × 4,100
= $61,500.00
Equipment depreciation= $59,000
Total flexible budget = $61,500.00 + $59,000
= $120,500.00