The R&R Company's manufacturing costs for August are: direct labor, $26,500; indirect labor, $11,000; direct materials, $30,300; taxes on raw materials and work in process, $1,700; heat, lights, and power, $1,900; and insurance on plant and equipment, $650. R&R Company's factory overhead incurred for August is: a. $3,800 b. $11,450 c. $15,250 d. $41,750 e. $71,600
Q: Get correct answer general accounting
A: Step 1: Define Operating Cash FlowOperating cash flow is the total amount of cash flow generated by…
Q: Calculate this financial accounting Question
A: Explanation of Earnings Per Share (EPS): EPS is a financial metric that measures a company's net…
Q: Financial Accounting
A: Step 1: Define Return on AssetsReturn on assets is a profitability ratio that is computed by…
Q: Get correct answer general accounting
A: Step 1: Define Allowance for Doubtful AccountsIn accounting, the allowance for doubtful accounts is…
Q: Accounting question
A: Step 1: Define Return On EquityOne of the profitability ratios is the return on equity. It evaluates…
Q: (24) A furniture company reports these data: Price per unit: $30 • Variable cost per unit: $15 •…
A: Step 1: Identify the Price per Unit, Variable Cost per Unit and Fixed CostStep 2: Calculate the…
Q: ! Required information [The following information applies to the questions displayed below.] Sun…
A: Date Account Debit Credit Year 1 5- Jan Cash (16200*6)$97,200 Common stock (16200*4) $64,800…
Q: Account
A: The correct answer is:c) It requires evidence before recognizing positive events while still…
Q: Can you answer this accounting question?
A: Explanation: In the given case, we are required to calculate the current no. of shares outstanding…
Q: Board games inc. makes this accounting questions solution
A: Step 1: Highest point; Lowest point Take the highest level of activity (Month 2) and the lowest…
Q: 26) A company reported the following data: • Price per unit: $20 Fixed cost per month: $24,000 •…
A: To determine how many units the company must sell to reach a target profit of $40,000, we can use…
Q: Helpl
A: Explanation of Petty Cash Fund: A petty cash fund is a small amount of money kept on hand by a…
Q: Solve the MCQ
A: Explanation of Leasehold Improvements: Leasehold improvements are permanent modifications,…
Q: Don't want AI Answer
A: Step 1: Marginal income per unit:- The marginal income per unit is same as the contribution margin…
Q: On January 1, 2023, Abbey acquires 90 percent of Benjamin's outstanding shares. Financial…
A: To compute the income tax expense and income tax currently payable based on the given scenarios:a.…
Q: Give me answer
A: Explanation of Substance Over Form: This accounting principle emphasizes that transactions should be…
Q: Solve with explanation accounting
A: Step 1: Define Promissory NotePromissory Note is a written promise to pay issued by the debtor to…
Q: The coffee club sells specialist this question solution general accounting
A: Step 1: Identify Variable Costs• Cost of beverages: $750• Cost of napkins: $750• Total variable…
Q: Give calculation of profit margin ratio on these accounting question
A: Hello student! Profit Margin Ratio is the percentage of sales remaining after we remove all the…
Q: I want to correct answer general accounting
A: To calculate the Profitability Index (PI) for the project, we use the following…
Q: Need help with this accounting question solution
A: Step 1: Define Dividend:Dividend refers to that part of profits, earned by the business which is…
Q: In step acquisition accounting
A: Detailed explanation: Step acquisition accounting involves re-measuring the previously held equity…
Q: Total cash? That should be in the register.
A: Detailed explanation: Cash Sales $ 3450 Less Cash…
Q: Comprehensive Income
A: Explanation of Net Operating Income: Net operating income represents the profit generated from a…
Q: Vulcan Flyovers offers scenic overflights of Mount Saint Helens, the volcano in Washington State…
A: To create the Flexible Budget Performance Report for Vulcan Flyovers for July, we need to compare…
Q: Need help with this question solution general accounting
A: Step 1: Define Inventory TurnoverInventory turnover ratios show how quickly a business is selling…
Q: General Accounting Question please answer
A: Step 1: Define Variable CostingMost managers utilize variable costing to account for revenue…
Q: Accounting question please solve
A: Step 1: Definition of Asset DisposalAsset disposal involves replacing a fixed asset when it is no…
Q: Question 3: Using the following information, compile the Supply and Use table and the Production…
A: The total value of Dasheen imported by the agriculture sector is $6000. This is the total supply of…
Q: Accounting question
A: Step 1: Formula Ending balance = Beginning balance + Cash receipts - Cash disbursementsBeginning…
Q: Managerial accounting
A: To determine Noble Co.'s overall liability for the loan on December 31, Year 1, we need to calculate…
Q: Colorado's total cost of wip?
A: Explanation of Work in Process Inventory: Work in process (WIP) inventory represents partially…
Q: VAS corporation had..Accounting question
A: Step 1: Define Return on EquityIn this financial ratio, the net income is compared with the…
Q: Accounting problem, help me
A: Explanation of Beginning Inventory: Beginning inventory represents the value of merchandise on hand…
Q: What is the Answer? Provide
A: Understand the relationship: The problem states that deposits received ($24,000) are 40% of the…
Q: Can you please give correct answer for this accounting question?
A: Cash Conversion Cycle (CCC) CalculationGiven Data:Sales: $6,800Cost of Goods Sold (COGS):…
Q: Question: MCQ Accounting When should the periodicity assumption be modified? a) Never under any…
A: Explanation of Periodicity Assumption: The periodicity assumption is a fundamental accounting…
Q: Give the value
A: Explanation of Accounts Receivable: Accounts receivable represents money owed to a company by…
Q: Please help me
A: Explanation of Economic Entity Concept: The economic entity concept is a fundamental accounting…
Q: Need general accounting question solution
A: Step 1: Define Work in Process InventoryWork in process or WIP is an inventory consisting of the…
Q: (28) A company reported the following data: 口 Sales Variable operating costs $240,000 (20,000 units)…
A: Approach to solving the question: Analysis Detailed explanation:Formula:Margin of Safety = Actual…
Q: Hello tutor please provide answer this accounting questions ⁉️
A: Use the learning curve formula to estimate the cost of the 250th unit and then calculate the average…
Q: Ponga Company acquired a $20,000 bond originally issued by its 75%-owned subsidiary on January 2,…
A: Step 1: Calculate the cash interest paymentThe bond has a face value of $20,000 and an interest rate…
Q: Fussner medical clinic.. Please give me answer Accounting question
A: Step 1: Define Spending VarianceSpending variance can be defined as the difference between the…
Q: Need help with this question solution financial Accounting
A: Step 1: Residual Distribution ModelThe residual distribution model refers to the distribution of…
Q: Hello tutor please provide answer general accounting
A: Hello student! Period Costs are costs that are not related to production. These are costs are…
Q: What is the correct accounting treatment for...
A: Explanation of Self-Constructed Fixed Assets: Self-constructed fixed assets are long-term assets…
Q: Get correct answer general finance
A: Step 1: Define Variance AnalysisVariance analysis helps businesses in keeping operational costs…
Q: I need answer of this question solution general finance
A: The problem requires the determination of the geometric average return or geometric return. The…
Q: General Accounting Question solve
A: Determine the maturity date.The note is dated May 10 and has a term of 90 days. To calculate the…
Accounting
Step by step
Solved in 2 steps
- Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? 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?The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be 3,150,000, and total direct labor costs would be 1,800,000. During February, the actual direct labor cost totalled 160,000, and factory overhead cost incurred totaled 283,900. a. What is the predetermined factory overhead rate based on direct labor cost? b. Journalize the entry to apply factory overhead to production for February. c. What is the February 28 balance of the account Factory OverheadBlending Department? d. Does the balance in part (c) represent over- or underapplied factory overhead?
- 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?A company estimated the manufacturing overhead costs for the coming year at $420,000. The total estimated direct labor hours are 15,000 hours, and the estimated machine hours to be worked are 6,000 hours. The company allocates its manufacturing overhead costs based on the direct labor hours. What is the pre-determined overhead allocation rate? a. $20 per direct labor hour b. $70 per machine hour c. $28 per machine hour d. $28 per direct labor hourAaron Company estimates direct labor costs and manufacturing overhead costs for the coming year to $900,000 and $700,000, respectively. Aaron allocates overhead costs based on labor hours. the estimated total labor hours and machine hours for the coming year are 16,000 hours and 10,000 hours, respectively., What's the predetermined overhead allocation rate?
- Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $760,000 and $500,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 16,000 hours and 5,000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) OA. $1.52 per labor hour OB. $100.00 per machine hour OC. $152.00 per machine hour O D. $31.25 per labor hourThe accounting records of Nelson Manufacturing revealed the following selected costs: Sales commissions, $96,000; plant insurance, $80,000; and administrative expenses, $150,000. What is Nelson Manufacturing's period costs total?Walter company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The company's estimated costs for the next year are: Direct materials $3,000 Direct labor $20,000 Depreciation on factory equipment $6,000 Rent on factory $12,000 Sales salaries $29,000 Factory utilities $15,000 Indirect labor $5,000 It is estimated that 5,000 direct labor hours will be worked during the year. The predetermined overhead rate will be: $3.90 $5.90 $7.80 $7.60 None of the above Please show the work.
- The accounting records of Dixon Company revealed the following costs: direct materials used, $250,000; direct labor, $425,000; manufacturing overhead, $375,000; and selling and administrative expenses, $220,000. Dixon's product costs total:Warner Company purchases $ 50,000 of raw materials on account, and it incurs $ 60,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $ 24,000 of the raw materials and $ 35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs.Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Mar.31 enter an account title for the journal entry on March 31 enter a debit amount enter a credit amount enter an account title for the journal entry on March 31 enter a debit amount enter a credit amount enter an account title for the journal entry on March 31 enter a debit amount enter a credit amountClark Company expected to incur $11,600 in manufacturing overhead costs and use 4,000 machine hours for the year. Actual manufacturing overhead was $9,500 and the company used 4,150machine hours. 9. Calculate the predetermined overhead allocation rate using machine hours as the allocation base. 10. How much manufacturing overhead was allocated during the year?