Val Corp used 7,700 machine hours (Driver) on Job # 17. Total machine hours are 22,000. Assume Job # 17 is the only job sold during the accounting period. What is the overhead applied in COGS if the total overhead applied is $141,900?
Q: Answer with all working steps
A: Step 1: Start with Gordon Growth Model formula:• Cost of Common Equity (r) = (D₁ ÷ P₀) + g Step 2:…
Q: Walker tv appliances reported the following provide answer accounting questions
A: Step 1: Define Gross Profit MarginGross profit represents the difference between the sales revenue…
Q: None
A: Question 2Journal Entries for 2024:Write-off of uncollectible accounts:DateAccountDebit ($)Credit…
Q: Wadding corporation applies manufacturers solution this question
A: Step 1: Define Variance AnalysisVariance analysis is essential tool management uses for evaluating…
Q: Compute the number of units solving accounting question
A: Step 1: Define Manufacturing OverheadManufacturing overhead is classified into variable and fixed…
Q: Need answer the accounting question
A: Step 1: Compute the credit sales portion of the total annual sales.= total annual sales x 75%=…
Q: hi general account tutor solve this
A: To calculate the product cost per unit under variable costing, we need to understand the components…
Q: expert please answer it simple NO ai use
A: compute the gross profit for the Black and Navy Divisions of Marian Corporation, let's follow a…
Q: Give answer the following requirements please answer do fast
A: Step 1: Define Operating Cycle and Cash CycleThe operating cycle of a firm gives an estimate of the…
Q: Please provide correct answer general accounting
A: Step 1: Determine the Cost of Equipment Step 2: Calculate the Useful Life Step 3: Calculate the…
Q: Please provide this question solution accounting
A: Step 1: Define Lower-of-cost-or-marketLower-of-cost-or-market is the principle in accounting that…
Q: One-half of the raw materials balance represents derailleurs acquired at a contracted price 20…
A: Step 1: Understanding the Information GivenTotal cost of raw materials: $264,000Half of the raw…
Q: When does the industry specificity...
A: Explanation of Industry Specificity Principle:The industry specificity principle recognizes that…
Q: A vendor prepares 100 hotdogs every day and sells them at $20/piece. For each hot dog, he spends $12…
A: Step 1: Calculate RevenueThe vendor sold 80 hot dogs at $20 each:Revenue from sold hot dogsRevenue…
Q: Data transcription is best described as: a. An important way to limit fraud and embezzlement b.…
A: Data transcription in the context of accounting information systems (AISs) is best described as a…
Q: Find the break even point accounting questions
A: Step 1: Find the contribution margin.= selling price per unit - variable cost per unit= $8 - $3= $5…
Q: What is ABCs asset turnover on these accounting question?
A: Step 1: Define Asset Turnover RatioAsset turnover measures how much revenue a company generates for…
Q: On December 1, 20X1 a company bought a call option costing $100,000 as a speculative investment. The…
A: Step 1:Given, Purchase of call option on Dec. 1, 20X1: $100,000Value of the call option as of Dec.…
Q: None
A: 1: LandBeginning balance: $600,000.Increase:Acquired land in exchange for stock and incurred…
Q: I want to correct answer general accounting
A: Step 1: Define BondsCompanies have two options to raise long-term funds, either through equity or…
Q: I need correct answer accounting question
A: Step 1: Define Notes ReceivableThe note receivable is an asset to the one who holds it, it ,means…
Q: GENERAL ACCOUNT QUESTIONS: [1-59] Tailspin Trading Co. has the following products in its ending…
A: To compute the lower of cost or market (LCM) for the inventory applied separately to each product,…
Q: Financial accounting
A: Explanation of Sales Revenue:Sales revenue is the total amount of money a business earns from…
Q: Nordstrom inc.report pls provide answer not use cloud
A: To calculate Return on Assets (ROA), the formula is: ROA =…
Q: At the beginning of the year 1, Copeland drugstore solution this question accounting
A: Step 1: Define Depreciation ExpenseAn expense arising from using fixed assets applicable for…
Q: If you give me correct answer I will give you helpful rate on these general accounting question
A: Approach to solving the question: For better clarity of the solution, I have provided the formula…
Q: Rushing had income solve this accounting question
A: The return on assets (ROA) measures how efficiently a company uses its invested assets to generate…
Q: 22 As of March 1, a company had merchandise costing $100,000 in inventory. During March, the company…
A: In the perpetual inventory system, the account for inventory is continuously updated for every…
Q: following is ending inventory please give answer for each product.
A: compute the lower of cost or market (LCM) for each product, we need to compare the cost per unit and…
Q: Perry acquired 80% of Salt on 1/1/2021 for $720,000 when Salt's equity consisted of $300,000 in…
A: Requirement 1: Goodwill What is goodwill? Goodwill refers to the amount that Perry paid for Salt,…
Q: What is the present value of a $1,000 bond provide answer accounting questions
A: Step 1: Calculate the present value of the coupon payments.The bond pays $90 in annual coupon…
Q: Need answer the general accounting question please solve this one
A: Amount Platteville should report for intangible assets on the 12/31/10 balance sheet = $140,000 +…
Q: Please provide correct answer accounting question not use ai..
A: Step 1: Define Separating a Mixed CostMixed costs are cost items that display both fixed and…
Q: Solve these general accounting question answer do fast
A: Step 1: Define Process CostingProcess costing is an accounting system used by manufacturers of…
Q: General Accounting
A: To calculate Bramble Corp.'s return on assets (ROA) for 2017, we use the formula:Return on Assets…
Q: Please solve these general accounting question not use ai and chatgpt
A: Step 1: Define Direct Materials Quantity VarianceThe materials quantity variance is an efficient…
Q: Required information [The following information applies to the questions displayed below.] Shadee…
A: Step 1: The budgeted cost of poles purchased can be calculated by first calculating the Budgeted…
Q: Want answer fast
A: Explanation of Average Collection Period: The average collection period represents the average…
Q: Can you please give me correct answer the accounting question?
A: Step 1: Define BondsBonds are liabilities for businesses that they have to redeem after the…
Q: Please need answer
A:
Q: General Accounting
A: Original Cost and Salvage ValueThe original cost of the building is $29,850,000, and the salvage…
Q: On January 1, 2018. Orangewood Industries bought a new cash register for $7,500.
A: Step 1: Define Advantages of Straight-line Depreciation MethodThe straight-line depreciation method…
Q: Do fast answer and step by step calculation for these general accounting question not use ai please…
A: Step 1: Define High-Low MethodIn accounting, the high-low method and regression analysis are used to…
Q: Correct answer between options?
A: Explanation of Stock Rights: Stock rights are privileges given to existing shareholders that allow…
Q: Help
A: Explanation of Gross Profit Rate:The gross profit rate is the percentage of sales revenue that…
Q: What is answer?
A: Explanation of Appropriation of Retained Earnings: This is an internal accounting designation where…
Q: I am waiting for both answer
A: A. The total manufacturing costs is calculated by adding direct materials, direct labor, and…
Q: Get the answer of this accounting question not use ai
A: Step 1: Define Inventory ValuationInventory valuation is done to calculate the amount that will be…
Q: please help with this question /19
A: Approach to solving the question: For better clarity of the solution, I have attached the Excel…
Q: Need answer the accounting question please solve this one
A: Step 1: Define Bond Sale EntryA Bond Sale Entry is the journal entry made when a company first…
What is the
Step by step
Solved in 2 steps
- Inez has the following information relating to Job AA5. Direct material cost was $200,000, direct labor was $36,550, and overhead applied on the basis of direct labor hours was $73,100. What was the predetermined overhead rate using the labor rate of $17 per hour?When direct labor hours for Job 101 are 30 and the predetermined factory overhead rate is 5/direct labor hour, what is the applied factory overhead amount? (a) 250 (b) 500 (c) 150 (d) It cannot be determined.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?
- If a company bases its predetermined overhead rate on 100,000 machine hours, and It actually has 100,000 machine hours, would there be an under applied or over applied overhead?The actual overhead for a company is $73,175. Overhead was based on 4,500 machine hours and was $3,325 over applied for the year. What is the overhead application rate per direct labor hour? What is the journal entry to dispose of the under applied overhead?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. $68,600
- Queen Bees Honey, Inc., estimated its annual overhead to be $110,000 and based its predetermined overhead rate on 27,500 direct labor hours. At the end of the year, actual overhead was $106,000 and the total direct labor hours were 29,000. What is the entry to dispose of the over applied or under applied overhead?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?Please give me answer accounting
- Morris Corp applies manufacturing overhead cost to Jobs (to the work in process account) at a rate of $50 per direct labor hour (DLH). For the year, actual overhead costs totaled $240,000, and 5,000 DLHs were worked by the company's employees. a. How much overhead cost was applied to the work in process account? b. Was manufacturing overhead overapplied, or underapplied.Assume that RamCo applies overhead to jobs based on direct labor cost. Job A1 was started and completed and sold to customer for $500. The Job A1 cost sheet shows $200 for direct materials, $100 for direct labor, and $60 for overhead on its job cost sheet. Job A2 is still in process at year end and shows charges of $280 for direct materials and $150 for direct labor. How much overhead should be charged to Job A2 at year end? $0 $60 $90 $120 000Cavy Company accumulated 550 hours of direct labor on Job 345 and 880 hours on Job 777. The direct labor was incurred at a rate of $16 per direct labor hour for Job 345 and $26 per direct labor for Job 777. Journalize the entry to record the flow of labor costs into production. If an amount box does not require an entry, leave it blank. CashFactory OverheadWage ExpenseWages PayableWork in Progree
