BUSINESS COLLEGE

Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 35,900 machine-hours. The estimated variable manufacturing overhead was $4.80 per machine-hour and the estimated total fixed manufacturing overhead was $945,606. The predetermined overhead rate for the recently completed year was closest to:

Answers

Answer 1
Answer:

Answer:

Predetermined manufacturing overhead rate= $31.14 per machine-hour

Explanation:

Giving the following information:

Estimated machine-hour= 35,900 machine-hours

Estimated variable overhead= $4.80 per machine-hour

Total fixed manufacturing overhead was $945,606.

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

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

Predetermined manufacturing overhead rate= (945,606/35,900) + 4.8

Predetermined manufacturing overhead rate= $31.14 per machine-hour

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Which of the following is not an example of an unhealthy company culture?A. Insular inwardly-focused cultures.B. Change-resistant cultures.C. Unethical and greed-driven cultures.D. Politicized cultures.E. Hyper-adaptive cultures.
Records at Hal’s Accounting Services show the following costs for year 1. Direct materials and supplies $ 40,000 Employee costs 2,900,000 Total overhead 1,300,000 Production was 25,000 billable hours. Fixed overhead was $700,000. Assuming no change in billable hours in year 2, direct materials and supplies costs are expected to increase by 10 percent. Direct labor costs are expected to increase by 5 percent. Variable overhead per billable hour is expected to remain the same, but fixed overhead is expected to increase by 5 percent. Required: a. Year 2 production is expected to be 20,000 billable hours. What are the estimated direct materials, direct labor, variable overhead, and fixed overhead costs for year 2? b. Determine the total costs per billable hour for year 1 and year 2.
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Can someone plz help me really quick? I’m struggling. I can give brainliest points.

Answers

Pretty sure its the third one

Which country is the biggest consumer of Virginia's services?A.Canada

B. Germany

C. Mexico

D. United Kingdom

Answers

Answer:

A.Canada

Explanation:

Answer:

Answer choice A.canada

External setup time refers to:______________. a. The time it takes workers to set up a machine during scheduled maintenance
b.The time to complete setup activities that do not require that the machine be stopped
c.The time it takes equipment vendors to set up the machine
d. None of the above

Answers

Answer: The correct answer is "b.The time to complete setup activities that do not require that the machine be stopped".

Explanation: External setup time refers to the time to complete setup activities that do not require that the machine be stopped.

External setup is the term used to refer to when workers can perform maintenance without stopping the production process. The term "external" is used because maintenance can be performed "external" to the production process.

On May 1, 2017, Crane Company purchased the copyright to Blue Spruce Corp. for $112800. It is estimated that the copyright will have a useful life of 4 years. The amount of amortization expense recognized for the year 2017 would be:_______. a) $28200 b) $15040 c) $18800. d) $14100.

Answers

Answer:

$18,800

Explanation:

The amortization expense can be calculated by dividing the cost of copyright to purchase by the estimated useful life and then multiplied by the number of months covered until May 1, 2017.

Amortization expense =  Cost to purchase  / Estimated useful life) x 8/12 Amortization expense = ($112,800 / 4 years) * 8/12

Amortization expense = $18,800

As the copyright is purchased on may 1 it will cover 8 months till 31 december 2017

Everlast Co. manufactures a variety of drill bits. The company's plant is partially automated. The budget for the year includes $660,000 payroll for 8,600 direct labor-hours. Listed below is cost driver information used in the product-costing system: Overhead Cost Pool Budgeted Overhead Cost Driver Estimated Cost Driver Level Machine setups $ 310,000 # of setups 310 setups Materials handling 115,800 # of barrels 9,650 barrels Quality control 1,290,000 # of inspections 3,000 inspections Other overhead cost 1,075,000 # of machine hours 21,500 machine hours Total overhead $ 2,790,800 A current product order has the following requirements: Machine setups 28 setups Materials handling 720 barrels Quality inspections 90 inspections Machine hours 1,700 machine hours Direct labor hour 564 hours Using ABC, how much total overhead is assigned to the order?

Answers

Answer:

Total overheads assigned to order = $203,621.36

Explanation:

As for the information provided:

Payroll = (660,000)/(8,600) = = $76.74 per hour

Setups = (310,000)/(310) = $1,000 per setup

Material Handling = (115,800)/(9,650) = $12 per barrel.

Quality Control = (1,290,000)/(3,000) = $430 per inspection.

Other overhead = (1,075,000)/(21,500) = = $50 per machine hour.

Details of current product requirement: And the related expense shall be :

28 setups = 28 * $1,000 = $28,000

720 barrels = 720 * $12 = $8,640

90 inspections = 90 * $430 = $38,700

1,700 machine hours = 1,700 * $50 = $85,000

564 labor hours = 564 * $76.74 = $43,281.36

Total overheads assigned to order = $203,621.36

Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders in a certain city. It is reasonable to assume that the population is approximately normal. 4.327, 4.461, 4.547, 4.662 , 4.365, 4.526 , 4.842 Find the upper bound of the 99% confidence interval for the mean rate.

Answers

Hey There!:

Sample Mean = 4.4823

SD = 0.1859

Sample Size (n) = 7

Standard Error (SE) = SD/root(n) = 0.0703

alpha (a) = 1-0.99 = 0.01

t(a/2, n-1 ) =  3.7074

Margin of Error (ME) =  t(a/2,n-1)x SE = 0.2606

99% confidence interval is given by:

Sample Mean +/- (Margin of Error)

4.4823 +/- 0.2606 = (4.222 , 4.743)

Hope this helps!
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