Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20000 units annually. Planter is a low-volume iterm totaling only 6000 units per year. Flower requires 1 hour or are 2000 completion, while each unit of Planter requires 2 hours. Therefore, total annual direct labor hours are 32000 12000). Expected annual manufacturing overhead costs are $960000. Hartey uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of Planter would be assigned overhead of:________. a. need more information to compute.
b. $60.
c. $30.
d. $36.92

Answers

Answer 1
Answer:

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Estimated manufacturing overhead= 960,000

Estimated number of hours= 32,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Estimated manufacturing overhead rate= 960,000/32,000= $30 per direct labor hour

Now, we can allocate to each unit of Planter:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 30*2= $60


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DeBerg Company has the following sales projections for its second and third quarters: April $100,000 May $120,000 June $140,000 July $160,000 August $150,000 September $130,000 Normal cash collection experience has been that 50% of sales are collected during the month of sale, 30% in the month following sale, and 15% in the second month following sale. The remaining 5% of sales is never collected. Prepare the schedule of cash collections for the third quarter, by month and in total.

Answers

Answer:

The Schedule of Cash Collections is below:

Cash Collection from Sales     JULY        AUGUST   SEPTEMBER

50%  from month                    $80,000   $75,000   $65,000  

30% from previous month        $42,000   $48,000   $45,000  

15% from two previous months$18,000    $21,000  $24,000  

                                         $140,000  $144,000  $134,000  

Explanation:

The schedule of cash collection is attached herein.

July collections are as follows:

50% of $160,000 July + 30% of $140,000 June + 15% of $120, 000 May Sales

August collections are as follows:

50% of $150,000 August + 30% of $160,000 July + 15% of  $140,000 June Sales

September collections are as follows:

50% of $130,000 September + 30% of $150,000 August + 15% of $160,000 July Sales

Production estimates for August for Jay Company are as follows: Estimated inventory (units), August 1 12,000
Desired inventory (units), August 31 9,000
Expected sales volume (units), August 75,000

For each unit produced, the direct materials requirements are as follows:
Material A ($5 per lb.) 3.0 lbs.
Material B ($18 per lb.) 0.5 lb.

The total direct materials purchases (assuming no beginning or ending inventory of material) of Materials A and B required for August production is ______.

a.$1,170,000 for A; $702,000 for B
b.$1,080,000 for A; $1,296,000 for B
c.$1,080,000 for A; $648,000 for B
d.$1,125,000 for A; $675,000 for B

Answers

Answer:

c.$1,080,000 for A; $648,000 for B

Explanation:

For computing the total direct material purchase first we have to find out the production units which are shown below:

As we know that

Production units = Ending inventory units + sales units - beginning inventory units

= 9,000 units + 75,000 units - 12,000 units

= 72,000 units

Now the total direct material purchase for Material A and Material B is

For Material A

= 72,000 units × 3 lbs × $5 per lb

= $1,080,000

For Material B

= 72,000 units × 0.5 lbs × $18 per lb

= $648,000

Therefore, the third option is correct

Enterprise zones are: A. government-owned properties that are available for entrepreneurial ventures at a reduced cost.B. similar to incubator facilities but strictly run by city and state governments.C. blighted areas that contain toxic materials making them unsuitable for business operations.D. specific locations across the U.S. where entrepreneurs can set up shop and receive tax breaks for operating in these areas.

Answers

Answer: Option D

Explanation: Enterprise zones are established by the government with the objective of development and economic growth in the local neighborhood.

The investors are attracted to make their business centers or production units in such areas by giving them incentives such as tax exemptions or other such benefits.

These are made usually in under developed areas. In countries like China and India, these areas are called special economic zones.

Which of the following factors has the LEAST influence on an individual’s core belief system? a. Physical appearance c. Religious background d. Family upbringing e. Life experiences Personality

Answers

Answer:

a. Physical appearance

Explanation:

The Physical appearance of a person is as a result of the genetic make up of the individual. This factor barely has an influence on an individual’s core belief system.

Religious background is a key element of individual’s core belief system as it forms the basis of one's belief about God, life, fate and destiny.

Family upbringing forms the basis of one's belief as the individual grows. The influence of the members of a family forms a part of the individual's core belief.

Life experiences as well forms a key part of our belief system and the same goes for personality.

Bill Buckely has​ split-limit 100​/200​/40 automobile liability insurance on his 2012 Subaru. Driving home from work in a​ snowstorm, he hit a​ Mercedes, slid into a​ guardrail, and knocked down a telephone pole. Damages to the​ Mercedes, the​ guardrail, and the telephone pole were ​$33,428​, ​$7,422​, and ​$12,041 respectively. How much will​ Bill's insurance company​ pay? How much will Bill be required to pay​ directly? ​Bill's insurance company will pay ​$nothing. ​(Round to the nearest​ dollar.) The amount Bill will be required to pay directly is ​$nothing. ​(Round to the nearest​ dollar.)

Answers

Answer:

  • Bill's insurance company will pay $40,000
  • The amount Bill will be required to pay directly is $12,891

Explanation:

A Split limit works thus;

The first figure which is 100 is the maximum amount that will be paid per one injured person.

The second figure is 200 and it is the maximum amount that will be paid out for all injured persons.

The third which is 40 is the maximum amount the insurance will pay out for property damage.

Bear in mind that all these figures are in thousands.

The damages to all the property involved is = 33,428 + 7,422 + 12,041

= $‭52,891‬

The Insurance company will therefore payout the maximum amount of $40,000.

The rest will be paid by Bill which is = 52,891 - 40,000

= $12,891

Assuming a tax rate of 30%, the after-tax cost of a $100,000 dividend payment is a. $70,000 b. $100,000 c. $30,000 d. None of the options

Answers

The answer is c. $30,000
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