Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000. If the company's sales for a month are Rs. 425,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change. Q2Anwer Manufacturing had the following information in its records at the end of the year: Predetermined overhead rate 140% of direct labor costs Estimated direct labor costs 87,500 Actual direct labor costs 84,000 Manufacturing Overhead 15,000 17,000 80,000 What was the balance in Manufacturing Overhead?
Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000. If the company's sales for a month are Rs. 425,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change. Q2Anwer Manufacturing had the following information in its records at the end of the year: Predetermined overhead rate 140% of direct labor costs Estimated direct labor costs 87,500 Actual direct labor costs 84,000 Manufacturing Overhead 15,000 17,000 80,000 What was the balance in Manufacturing Overhead?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Q1 Irfan Corporation contribution margin ratio is 22% and its fixed monthly expenses are Rs. 54,000. If the company's sales for a month are Rs. 425,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change.
Q2Anwer Manufacturing had the following information in its records at the end of the year:
Predetermined overhead rate
140% of direct labor costs
Estimated direct labor costs
87,500
Actual direct labor costs
84,000
Manufacturing Overhead
15,000
17,000
80,000
What was the balance in Manufacturing Overhead?
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