One of Anfa Company's activity cost pools is inspecting, with an estimated overhead (OH) of $100,000. It produces throw rugs (700 inspections) and area 'rugs (1,300 inspections). How much $$ OH should be assigned to throw rugs inspections? A) $35,000 B) $50,000 C) $53,846 D) $100,000
Q: Financial Accounting Problem 3.4
A: Explanation of Total Assets:Total assets represent the combined value of everything a company owns,…
Q: What is the amount of the net income? Accounting
A: Step 1: Define Return on Equity (ROE)Return on Equity is a useful tool for management as it allows…
Q: General Accounting
A: Step 1: Define Note ReceivableIt refers to the promissory note that reports the amount an…
Q: Can you help me with #10 of part 1, and the other parts of the question? Thanks! At the beginning…
A: To answer the requirements given above, the following explanation and computations were made…
Q: General Accounting
A: Step 1: Define AccrualsFailing to prepare and post accruals during the adjusting process can cause…
Q: General accounting
A: Step 1: Determine the Predetermined Overhead Rate This rate is used to apply overhead costs to jobs…
Q: please provide correct answers carefully. i keep receiving incorrect answers from here. Do correct…
A: Required For A : Mrs. Yu's goal is to minimize taxable income, and she may opt to use Section 179…
Q: The following is the preclosing trial balance for Allen University as of June 30, 2023. Additional…
A: ALLEN UNIVERSITY Statement of Activities For the Year Ended June 30, 2023 Without Donor…
Q: 1. Compute equivalent units in the mixing department, for each cost category? 2. Summarize total…
A: Caricolor Limited Mixing Department Costing Analysis Equivalent Units Calculation To compute the…
Q: Accounting a firm has a profit margin of 15 percent on sales
A: Step 1: Introduction to the Return on Assets:Return on Assets (ROA) is a financial ratio used by…
Q: Accounting need help
A: Step 1:- Define Process Costing SystemUnder the process costing system, there are two approaches to…
Q: Accounting NPBT
A: Step 1:- Define Profit MarginThe income statement for a firm shows the costs incurred, sales made,…
Q: What is the present value of the contract if you use a 10% discount rate?
A:
Q: LO.3 Willa, a U.S. corporation, owns the rights to a patent related to a medical device. Willa…
A: The sourcing of royalty income is determined by the location of the property that generates the…
Q: hh
A: The variable costing income statement considers the variable cost as a part of the production and…
Q: The Finishing Department started the month with 500 units in process, received 2,000 units from the…
A: 8. Units in process at the end of the monthBeginning work in process (WIP) units: 500Units started…
Q: What is the taxable income? for this accounting question
A: Step 1: Define Taxable IncomeTaxable income is recognized as a business's income available for…
Q: Need Accounting Question Solve
A: Step 1: Cost of goods sold can be calculated by subtracting the Ending Inventory from the Cost of…
Q: How much is net income? Accounting
A: Step 1:- Define Net IncomeThe last or bottom line of income statement financial report is the net…
Q: View Policies Current Attempt in Progress The May transactions of Bramble Corporation were as…
A: Step 1:The journal entries to record the transactions is as follows: DateAccount Titles and…
Q: Hi expart Provide answer not use ai
A: Part a: Interest-Bearing NoteCalculating Interest:Interest = Principal * Rate * TimeTime = 45 days /…
Q: Not use ai please give answer
A: a-c.Sales revenue$775,000Cost of goods sold(350,000)Gross profit425,000Selling administrative…
Q: What is the asset turnover ratio?
A: The asset turnover ratio is the financial formula determined by dividing the net sales by the…
Q: Please help me solve this question
A: Step 1: Define Equivalent UnitsEquivalent units are used in process costing to calculate the cost…
Q: Jack Inc. offers a credit term of n/30. This means that the company: a. receives money…
A: In the context of business and finance, the term 'n/30' is a credit term used in business to signify…
Q: None
A: Step 1: Define TaxThere are two methods that taxpayers can follow to pay taxes, Cash basis or…
Q: What amount should the building be recorded?
A: 1. Identify the Consideration Given:In this case, Merrit Company exchanged its common stock for the…
Q: Xyz accounting. Solve this question
A: The problem requires the determination of the ROE. Return on equity (ROE) is a measure of a…
Q: Brady Construction Company contracted to build an apartment complex for a price of $6,600,000.…
A:
Q: Provide correct answer. What are the projected sales sales for the last year before the sales?
A: Step 1: Calculate the sales after the first 3 years with 15% growth rate each year. Step 2:…
Q: General Accounting
A: Step 1: Define Time Value of MoneyThe idea of the time value of money is useful in figuring out the…
Q: None
A: Step 1: Identify the dividends per share (DPS)Step 2: Identify the market price per shareStep 3:…
Q: ABC Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a…
A: Step 1:1. The variable operating cost per km and fixed operating cost is calculated as follows:…
Q: How much overhead.. accounting
A: Step 1:- Define Manufacturing OverheadSince manufacturing overhead costs are not directly incurred…
Q: I need do fast typing clear urjent no chatgpt used i will give 5 upvotes full explanation with…
A: Detailed explanation:
Q: Williams Company is a manufacturer of auto parts having the following financial statements for…
A: Let's go step by step as per your request. I'll calculate each valuation method as instructed:Free…
Q: Need answer accounting
A: Step 1: Define Price-Earnings RatioThe price-earnings ratio is the market price per share relative…
Q: please provide correct answers carefully. i keep receiving incorrect answers from here. Do correct…
A: Step 1:The image shows a problem involving Margo's Section 179 deduction for machinery placed in…
Q: Accounting calculate taxable income
A: 1. First, let's calculate L & L, Inc.'s corporate taxable income:Revenue: $1,020,000Less:…
Q: Fg
A: Let's go through each option one by one to understand why Unearned Revenue is the correct answer as…
Q: Calculate total assets
A: Step 1: Define Total AssetsBusiness requires assets to conduct its functions. In addition, it also…
Q: MCQ 4 MARKS
A: Explanation of Matching Principle: The Matching Principle is an accounting rule that ensures…
Q: What is the firm roe ? Accounting
A: Step 1:- Define Return on EquityThe return on equity ratio is one of the several profitability…
Q: Cullumber Lighting had a beginning inventory of 23 units at a cost of $7 per unit on August 1.…
A: Step 1: In the periodic inventory system, the inventory account is not updated at the time of each…
Q: Need help
A: Step 1: Calculate the Book Value per share Step 2: Calculate the Earnings per share(EPS) Step 3:…
Q: Need help
A: Step 1: Define Weighted average methodThe method used for inventory valuation in which weighted…
Q: On July 1, 2020, Brent purchases a new automobile for $40,000. He uses the car 86% for business and…
A: We will apply the 200% declining-balance cost recovery method with the half-year convention, taking…
Q: Accounting
A: Explanation of Notes Payable (due in 2 years):Notes Payable refers to written promises to pay a…
Q: ??
A: The Cost of Goods Sold (COGS) represents the direct costs associated with producing or purchasing…
Q: Financial accounting
A: Step 1: Define Manufacturing OverheadManufacturing overhead is allocated based on a predetermined…
One of anfa company's activity cost pools is inspecting, with an estimated
Step by step
Solved in 2 steps
- 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?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?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
- Box Springs, Inc., makes two sizes of box springs: twin and double. The direct material for the twin is $25 per unit and $40 s used in direct labor, while the direct material for the double is $40 per unit, and the labor cost is $50 per unit. Box Springs estimates it will make 5,000 twins and 9,000 doubles in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?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?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?
- Box Springs. Inc., makes two sizes of box springs: queen and king. The direct material for the queen is $35 per unit and $55 is used in direct labor, while the direct material for the king is $55 per unit, and the labor cost is $70 per unit. Box Springs estimates it will make 4,300 queens and 3,000 kings in the next year. It estimates the overhead for each cost pool and cost driver activities as follows: How much does each unit cost to manufacture?A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?Plata Company has identified the following overhead activities, costs, and activity drivers for the coming year: Plata produces two models of microwave ovens with the following activity demands: The companys normal activity is 21,000 machine hours. Calculate the total overhead cost that would be assigned to Model X using an activity-based costing system: a. 230,000 b. 240,000 c. 280,000 d. 190,000
- Crystal Pools estimates overhead will utilize 250,000 machine hours and cost $750,000. It takes 2 machine hours per unit, direct material cost of $14 per unit, and direct labor of $20 per unit. What is the cost of each unit produced?Boarders estimates overhead will utilize 160,000 machine hours and cost $80,000. It takes 4 machine hours per unit, direct material cost of $5 per unit, and direct labor of $5 per unit. What is the cost of each unit produced?Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)
