Blunt Industries estimates an allocation base of 45,500 machine hours and an estimated total manufacturing overhead $109,200. cost of What is the predetermined overhead rate to be applied to the jobs?
Q: Not Ai solution
A: Concept of Standard Overhead Rate:The standard overhead rate, also called the predetermined overhead…
Q: I need the correct answer to this general accounting problem using the standard accounting approach.
A: To calculate the contribution margin per unit, we use the formula:Contribution Margin per Unit =…
Q: Can you help me solve this general accounting question using valid accounting techniques?
A: Step 1: Definition of Inventory Turnover RatioThe inventory turnover ratio measures how many times a…
Q: Please explain the solution to this general accounting problem with accurate explanations.
A: Step 1: Definition of Current RatioThe current ratio is a financial metric used to evaluate a…
Q: Financial accounting problem!!
A: Step 1: Definitions Concept of Contribution Margin:The contribution margin is the amount by which…
Q: I need assistance with this general accounting question using appropriate principles.
A: Step 1: Definition of Convertible BondA convertible bond is a type of hybrid security issued by a…
Q: Hi expert please given correct answer with accounting question
A: Step 1: Definition of Degree of Operating Leverage (DOL)Degree of Operating Leverage (DOL) measures…
Q: Can you explain this financial accounting question using accurate calculation methods?
A: Step 1: Definition of Contribution Margin RatioThe contribution margin ratio shows the percentage of…
Q: hello expert i need best answer for this question.
A: Part 3: Materials Quantity Variance (MQV) Calculation Given Data:Standard Cost per Pound (SP) =…
Q: Can you explain the correct methodology to solve this general accounting problem?
A: Step 1: Definition of Debt-to-Equity RatioThe debt-to-equity ratio is a financial measurement that…
Q: Can you help me solve this general accounting problem using the correct accounting process?
A: Step 1: Definition of Average Total AssetsAverage total assets is a financial metric that calculates…
Q: Please explain the solution to this general accounting problem using the correct accounting…
A: To calculate the Operating Cash Flow (OCF) for this project, we need to follow the standard formula…
Q: Please provide the answer to this general accounting question using the right approach.
A: Step 1: Definition of Cash Collections from Credit SalesCash collections from credit sales represent…
Q: General Accounting
A: Step 1: Define Direct Labor CostDirect Labor Cost refers to the wages paid to workers who are…
Q: Given solution for General accounting question not use ai
A: Step 1: Define Credit SalesCredit sales refer to sales made by a business where the customer is…
Q: Please help me solve this general accounting problem with the correct financial process.
A: Step 1: Definition of Current AssetsCurrent assets are assets that are expected to be converted into…
Q: Please provide the solution to this general accounting question with accurate financial…
A: Step 1: Definition of Average Collection PeriodThe Average Collection Period measures the average…
Q: Can you explain the correct methodology to solve this financial accounting problem?
A: Step 1: Definition of Inventory TurnoverInventory Turnover is a financial efficiency ratio that…
Q: I need guidance with this general accounting problem using the right accounting principles.
A: Step 1: Definition of Implied Capital Gain RateThe implied capital gain rate is the portion of an…
Q: Financial Accounting Question
A: Step 1: Definition of Capital GainCapital gain refers to the profit or loss incurred when a capital…
Q: Solve this MCQ
A: Sustainability integration has a significant influence on measurement choices because it…
Q: Accurate Answer
A: Provided Data:Original cost of equipment = $18,500Accumulated depreciation = $10,900Sale price (cash…
Q: Could you help me solve this financial accounting question using appropriate calculation techniques?
A: Step 1: Definition of Replacement CostReplacement cost is the amount it would cost today to replace…
Q: Summit Industries' accounting records reflect the following inventories: Dec. 31, 2021 Dec. 31, 2020…
A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the…
Q: solve this question by using appropriate methodology and true answer.
A: We determine the amount of interest the bank collected for Brightstar, Inc., by preparing a bank…
Q: Can you help me solve this general accounting problem with the correct methodology?
A: Step 1: Definition of Net Realizable Value (NRV)Net Realizable Value (NRV) is the amount a company…
Q: Dear tutor solve with appropriate method.
A: Current Liabilities are obligations that a company expects to settle within one year or its normal…
Q: Given the solution and accounting question
A: Step 1: Definition of Work in Process (WIP) InventoryWork in Process (WIP) Inventory refers to the…
Q: I need help with this general accounting question using standard accounting techniques.
A: Step 1: Definition of Contribution MarginThe contribution margin is the amount remaining from sales…
Q: Can you help me solve this financial accounting question using the correct financial procedures?
A: Step 1: Definition of Activity-Based Costing (ABC)Activity-Based Costing (ABC) assigns overhead…
Q: I need help with this solution and accounting question
A: Step 1: Definition of Degree of Operating Leverage (DOL)Degree of Operating Leverage (DOL) measures…
Q: I am looking for the correct answer to this financial accounting problem using valid accounting…
A: Step 1: Definition of Gross Profit PercentageGross profit percentage, also known as gross margin…
Q: I am looking for help with this financial accounting question using proper accounting standards.
A: Step 1: Definition of Profit Margin (Return on Sales)Profit margin, also referred to as return on…
Q: Accounting question
A: To calculate the contribution margin ratio, follow these steps:Step 1: Selling Price per…
Q: What is the ending inventory?
A: Explanation of Beginning Inventory:Beginning inventory is the value of a company's inventory at the…
Q: Can you solve this general accounting problem using accurate calculation methods?
A: Step 1: Definition of High-Low MethodThe high-low method is a cost estimation technique used to…
Q: In pension accounting, actuarial gains and losses are____. (a) Added to pension obligation directly…
A: In pension accounting under both IFRS and U.S. GAAP, actuarial gains and losses (arising from…
Q: General Accounting
A: Step 1: Definition of Total Job CostTotal Job Cost is the total manufacturing cost assigned to a…
Q: Bramble Corp. started the year with total assets of $218,000 and total liabilities of $112,000.…
A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the owners' claim on a…
Q: Give correct answer this financial accounting question
A: To calculate the present value of the tax shield on debt, you can use this formula:Present Value of…
Q: Please explain the solution to this financial accounting problem using the correct financial…
A: Step 1: Definition of Gain or Loss on Sale of AssetA gain or loss on the sale of an asset is the…
Q: Can you help me solve this general accounting problem using the correct accounting process?
A: Step 1: Definition of Cash Received from CustomersCash received from customers is the actual amount…
Q: Give me answer a b c for general accounting question
A: a. Gross ProfitGross Profit = Sales - Cost of Goods Sold (COGS)= $850,000 - $510,000= $340,000b.…
Q: Kindly help me with this General accounting questions not use chart gpt please fast given solution
A: Step 1: Define Stockholders' EquityStockholders' equity represents the residual interest in the…
Q: Please provide the accurate solution to this financial accounting question using valid calculations.
A: Concept of Earnings Per Share (EPS):Earnings per share is the portion of a company's net income…
Q: Please explain the solution to this financial accounting problem using the correct financial…
A: Step 1: Definition of Taxable Income (Dependent Minor)Taxable income is the portion of an…
Q: I am trying to find the accurate solution to this general accounting problem with appropriate…
A: Step 1: Calculate Budgeted Sales RevenuePlanned sales volume = 4,000 desksBudgeted selling price =…
Q: Solve this
A: Earning Per Share = Net Income/Total Outstanding SharesEarning Per Share = 842,500/385,000Earning…
Q: Answer
A: To allocate the cost of the property between the land and the warehouse, we use the relative fair…
Q: ??!!
A: Explanation of Gross Income: Gross income represents the total revenue a company generates from its…
What is the predetermined
Step by step
Solved in 2 steps with 2 images
- A company has the following information relating to its production costs: Compute the actual and applied overhead using the companys predetermined overhead rate of $23.92 per machine hour. Was the overhead over applied or under applied, and by how much?The following product costs are available for Kellee Company on the production of eyeglass frames: direct materials, $32,125; direct labor, $23.50; manufacturing overhead, applied at 225% of direct labor cost; selling expenses, $22,225; and administrative expenses, $31,125. The direct labor hours worked for the month are 3,200 hours. A. What are the prime costs? B. What are the conversion costs? C. What is the total product cost? D. What is the total period cost? E. If 6.425 equivalent units are produced, what is the equivalent material cost per unit? F. What is the equivalent conversion cost per unit?Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?
- A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor hours costing $2,500,000 in labor and utilizing 12,500 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
- York Company Is a machine shop that estimated overhead will be $50,000, consisting of 5,000 hours of direct labor. The cost to make job 0325 is $70 in aluminum and two hours of labor at $20 per hour. During the month. York incurs $50 in indirect material cost. $150 in administrative labor, $300 in utilities, and $250 in depreciation expense. What is the predetermined overhead rate if direct labor hours are considered the cost driver? What is the cost of Job 0325? What is the overhead incurred during the month?Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.
- Job order cost sheets show the following costs assigned to each job: The company assigns overhead at $1.25 for each direct labor dollar spent. What is the total cost for each of the jobs?The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
