DF: ACCOUNTING PRINC 14E WPNGEC 1 SEM
14th Edition
ISBN: 9781119709947
Author: Weygandt
Publisher: WILEY
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I want to correct answer general accounting question
How many machine hours were used during the year?
Ridgeline Plastics manufactures high-strength
plastics for aerospace components. In 2021, the
company produced 6,000 tons of plastic but sold
3,800 tons. In 2022, it produced the same amount
but sold 7,500 tons (selling all its inventory). The
selling price per ton was $1,950, variable
manufacturing costs per ton were $450, and variable
selling expenses were $550 per ton. Fixed
manufacturing costs were $4,200,000, and fixed
administrative expenses were $700,000.
Compute net income under variable costing for
2021.
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- The predetermined overhead rate for Silver Inc. is $9, which is made up of a variable overhead rate of $5 and a fixed rate of $4. The budgeted overhead costs at a normal capacity of 60,000 direct labor hours were divided by the normal capacity of 60,000 hours to arrive at the predetermined overhead rate of $9. Actual overhead for September was $18,000 variable and $14,400 fixed, and the standard hours allowed for the product produced in September were 5,000 hours. What is the total overhead variance? A. $1,400 U B. $1,400 F C. $600 U D. $600 Farrow_forwardWhat is the amount allocated to ending inventory.arrow_forwardA retail business has total sales of $950,000, total equity of $625,000, a profit margin of 5.2%, and a debt-equity ratio of 0.65%. What is the return on assets?arrow_forward
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