Hyu Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 52,400 labor-hours. The estimated variable manufacturing overhead was $2.82 per labor-hour and the estimated total fixed manufacturing overhead was $1,196,840. The actual labor-hours for the year turned out to be 53,000 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

Answer:

The predetermined overhead rate for the recently completed year would be $25.66

Explanation:

The predetermined overhead rate is computed as;

= Total estimated manufacturing overhead / estimated direct labor

Where;

Total estimated manufacturing overhead = Estimated total fixed manufacturing overhead + estimated variable manufacturing overhead rate × estimated labor hours

= $1,196,840 + $2.82 × 52,400

= $1,196,840 + $147,768

= $1,344,608

Therefore,

Predetermined rate = $1,344,608 / 52,400 hours

Predetermined rate = $25.66

Energy Manufacturing Inc. provides the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry $320,000 16,000 hours Account billing $200,000 4,000,000 lines Account verification accounts $173,250 70,000 accounts Correspondence letters $24,000 4,000 letters Total costs $717,250 The above activities are used by Departments A and B as follows: Department A Department B Account inquiry hours 4,200 hours 2,700 hours Account billing lines 900,000 lines 750,000 lines Account verification accounts 8,000 accounts 6,000 accounts Correspondence letters 1,400 letters 1,800 letters How much of the account inquiry cost will be assigned to Department A

A large brewing company has its public relations staff create an interactive website aimed at men and women in their 20s and early 30s. It offers interesting facts about the history of beer, the making of beer, the definition of various brewing terms, the difference between hops and malt, etc. It also includes games like crossword puzzles, word jumbles, and trivia contests related to beer. The objective of such PR initiatives is to:

A building with an appraisal value of $136,787 is made available at an offer price of $157,859. The purchaser acquires the property for $34,148 in cash, a 90-day note payable for $27,610, and a mortgage amounting to $58,126. The cost basis recorded in the buyer's accounting records to recognize this purchase is

Question 10 of 10
Which of the following is a true statement based upon the principle of the
time value of money?
A. The value of money does not increase or decrease as time
passes.
B. Money loses value over time if not used.
C. It is always best to receive money at a later point in time rather
than an earlier point in time.
O D. Money increases in value as time passes so long as it is not
invested.

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents $5,800
Accounts receivable (net) 28,000
Inventory 68,000
Property, plant, and equipment (net) 160,000
Accounts payable 47,000
Salaries payable 19,000
Paid-in capital 140,000
The only asset not listed is short-term investments. The only liabilities not listed are $38,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1.
Required:
Determine the following at December 31, 2021:
1. Total current assets.
2. Short-term investments.
3. Retained earnings.

A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 160 units $ 350 June 10 220 units 580 June 15 220 units 700 June 28 130 units 560 $2190 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is

Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory Finished goods (units) 30,000 80,000 Raw material (grams) 60,000 50,000 Each unit of finished goods requires 3 grams of raw material. The company plans to sell 770,000 units during the year. How much of the raw material should the company purchase during the year

Market Inc. has two divisions, Talbot and Heather. Following is the income statement for the past month: Talbot Heather Total Sales$280,000 $168,000 $448,000 Variable Costs 168,000 67,000 235,000 Contribution Margin 112,000 101,000 213,000 Fixed Costs (allocated) 112,500 67,500 180,000 Profit Margin$(500) $33,500 $33,000 What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable

Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the following operating results while operating at 75% of plant capacity:
Sales (350,000 units) $4,375,000
Cost of goods sold 2,600,000
Gross profit 1,775,000
Operating expenses 840,000
Net income $ 935,000
Cost of goods sold was 70% variable and 30% fixed; operating expenses were 80% variable and 20% fixed. In September, Moonbeam receives a special order for 15,000 toasters at $7.60 each from Luna Company. Acceptance of the order would result in an additional $3,000 of shipping costs but no increase in fixed costs.
Instructions
a. Prepare an incremental analysis for the special order.
b. Should Moonbeam accept the special order?

Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 7%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 0.50%, which are deducted from portfolio assets at year-end. a. What is the net asset value at the start and end of the year

When the government imposes an excise tax in a market with a downward-sloping demand curve and an upward-sloping supply curve: _________.
a. consumer surplus falls, producer surplus falls, and a deadweight loss occurs.
b. consumer surplus falls.
c. producer surplus falls.
d. a deadweight loss occurs.

A(n) _____ is a situation in which moral implications shape an individual’s decisions.
ethical issue
revelatory issue
moral dilemma
situational imperative

The Widget Co. purchased new machinery three years ago for $4 million. The machinerycan be sold to the Roman Co. today for $2 million. The Widget Co.'s current balance sheetshows net fixed assets of $2,500,000, current liabilities of $1,375,000, and net working capitalof $725,000. If all the current assets were liquidated today, the company would receive $1.9million in cash. The book value of the Widget Co.'s assets today is _____ and the marketvalue of those assets is _____.
A. $4,600,000; $3,900,000
B. $4,600,000; $3,125,000
C. $5,000,000; $3,125,000
D. $5,000,000; $3,900,000
E. $6,500,000; $3,900,000

Which of the following is not true about emergency funds?
O They help remove the worry about expenses not listed in the budget.
O They help you prepare for unexpected expenses.
O They are used for anything listed in the budget.
O They can keep you from borrowing money from friends and family members.

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $24.19 billion. The country collected $22.9 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance?

A sales manager, Dev, is facing an ethical situation wherein his bicycle company that specializes in mountain bikes sold a bicycle with a defective component. If he informs the customer and issues a recall, it would cost him a substantial amount of money. If the bike malfunctions, there is a very small chance that it could cause serious injury to a cyclist who might use it on rough terrain. He decides to use the egoism approach to decision making and remain silent about the defect, because he:________.
A) is motivated by self-interest.
B) is looking to accomplish the greatest good for the greatest number of people.
C) wants to first consult with his insurer.
D) is motivated to protect the interests of his employees.
E) wants to first consult with others whom he respects.

During 2020 the Pharoah Company had a net income of $85100. In addition, selected accounts showed the following changes: Accounts Receivable $2700 increase Accounts Payable 900 increase Buildings 3900 decrease Depreciation Expense 1400 increase Bonds Payable 7900 increase What was the amount of cash provided by operating activities

These are selected account balances on December 31, 2017.
Land $150,000
Land (held for future use) 225,000
Buildings 1,200,000
Inventory 300,000
Equipment 675,000
Furniture 150,000
Accumulated Depreciation 450,000
What is the total amount of property, plant, and equipment that will appear on the balance sheet?
a. $2,250,000
b. $1,950,000
c. $2,700,000
d. $1,725,000

ire Corporation distributes property (basis of $225,000, fair market value of $300,000) to a shareholder in a distribution that is a qualifying stock redemption. The property is subject to a liability of $160,000 that the shareholder assumes. Determine the basis of the property to the shareholder.

You invest $1,000 in a risky asset with an expected rate of return of 0.17 and a standard deviation of 0.40 and a T-bill with a rate of return of 0.04. What percentages of your money must be invested in the risk-free asset and the risky asset, respectively, to form a portfolio with a standard deviation of 0.20

tumutukoy sa tuwirang pagsupil sa diwang makabayan sat pagkat aaklas ng mga pilipinas laban sa mga amerikano​

4. What would be the best pricing strategy for a deli opening in a competitive business
district where the lunchtime rush is the bulk of the business? Explain your answer

Bluestone Company had three intangible assets at the end of the current year:
a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $3,200. When purchased, the patent had an estimated life of 16 years.
b. A trademark was registered with the federal government for $7,500. Management estimated that the trademark could be worth as much as $190,000 because it has an indefinite life.
c. Computer licensing rights were purchased this year on January 1 for $70,000. The rights are expected to have a five-year useful life to the company.
Required:
1. Compute the acquisition cost of each intangible asset.
Acquisition Cost
Patent
Trademark
0
2. Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.)
Amortization Expenses
Patent
Trademark
0
3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year.
BLUESTONE COMPANY
Income Statement (partial)
For the year ending December 31
BLUESTONE COMPANY
Balance sheet (partial)
At December 31
Intangibles:

Stewart Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plant-wide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. From the following information, using a single plant-wide rate, determine the overhead rate per unit for Product A:
Overhead Direct Labor Product
Hours (dlh) A B
Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh
Finishing Dept. 72,000 10,000 4 16
Totals $320,000 20,000 dlh 20 dlh 20 dlh
======== ========== ====== ======
a. $496.00 per unit
b. $320.00 per unit
c. $144.00 per unit
d. $640.00 per unit

Charlotte's Crochet Shoppe has 11,300 shares of common stock outstanding at a price per share of $65 and a rate of return of 11.21 percent. The company also has 340 bonds outstanding, with a par value of $1,000 per bond. The pretax cost of debt is 5.93 percent and the bonds sell for 94.2 percent of par. What is the firm's WACC if the tax rate is 39 percent

Bryant leased equipment that had a retail cash selling price of $750,000 and a useful life of six years with no residual value. The lessor spent $605,000 to manufacture the equipment and used an implicit rate of 8% when calculating annual lease payments of $150,219 beginning January 1, the beginning of the lease. Lease payments will be made January 1 each year of the lease. Incremental costs of consummating the lease transaction incurred by the lessor were $22,500. What is the effect of the lease on the lessor’s earnings during the first year, not including any effect of depreciation no longer required on the asset under lease (ignore taxes)? (Input decreases to income as negative amounts. Round Interest revenue to the nearest whole dollar.)

On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit.

Required:
Journalize the entry on May 7 to record the purchase

Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product $122,200 Advertising expense $49,900
Depreciation on plant 69,200 Property taxes on plant 17,600
Property taxes on store 8,590 Delivery expense 28,300
Labor costs of assembly-line workers 113,100 Sales commissions 44,400
Factory supplies used 34,000 Salaries paid to sales clerks 51,300

Work in process inventory was $13,300 at January 1 and $17,200 at December 31. Finished goods inventory was $68,800 at January 1 and $47,900 at December 31.

Required:
a. Compute cost of goods manufactured.
b. Compute cost of goods sold.

Indigo Company sold 10,000 Super-Spreaders on during 2017, at a total price of $885,200, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $350,500. The assurance warranties extend for a 3-year period and are estimated to cost $65,100. During 2017, warranty related costs amounted to $15,600. Indigo also sold extended warranties (service-type warranties) related to 3,000 spreaders for 2 years beyond the 2-year period for $25,200. Given this information, determine the amounts to report for the following at December 31, 2017: sales revenue, cost of goods sold, warranty expense, unearned warranty revenue, warranty liability, and cash.

Ana and Shen need to decide which one of them will need to take time off work to complete the rather urgent task of shearing their llamas. Ana is pretty good with a pair of shears; she can shear the llamas in one hour. Shen is somewhat slow; it takes him six hours to shear the llamas. Ana earns $120 per hour as a business consultant, while Shen earns $15 per hour as a lifeguard.
Keeping in mind that either Ana or Shen must take time off work to shear the llamas, who has the lowest opportunity cost of completing the task?
A. Ana
B. Shen
C. Ana and Shen face identical opportunity costs