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Business, 22.06.2019 04:50
Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.
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Business, 22.06.2019 20:00
Double corporation acquired all of the common stock of simple company for
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Business, 22.06.2019 22:00
Suppose that a paving company produces paved parking spaces (q) using a fixed quantity of land (t) and variable quantities of cement (c) and labor (l). the firm is currently paving 1,000 parking spaces. the firm's cost of cement is $3 comma 600.003,600.00 per acre covered (c) and its cost of labor is $35.0035.00/hour (w). for the quantities of c and l that the firm has chosen, mp subscript upper c baseline equals 60mpc=60 and mp subscript upper l baseline equals 7mpl=7. is this firm minimizing its cost of producing parking spaces?
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Business, 23.06.2019 19:00
Areview of the ledger of sheridan company at december 31, 2017, produces these data pertaining to the preparation of annual adjusting entries. 1. prepaid insurance $19,661. the company has separate insurance policies on its buildings and its motor vehicles. policy b4564 on the building was purchased on july 1, 2016, for $13,290. the policy has a term of 3 years. policy a2958 on the vehicles was purchased on january 1, 2017, for $8,586. this policy has a term of 18 months. 2. unearned rent revenue $468,720. the company began subleasing office space in its new building on november 1. at december 31, the company had the following rental contracts that are paid in full for the entire term of the lease. term (in months) number of leases date monthly rent nov. 1 8 $5,450 6 dec. 1 6 $8,630 4 3. notes payable $43,200. this balance consists of a note for 6 months at an annual interest rate of 7%, dated october 1. 4. salaries and wages payable $0. there are 9 salaried employees. salaries are paid every friday for the current week. 6 employees receive a salary of $620 each per week, and 3 employees earn $755 each per week. assume december 31 is a wednesday. employees do not work weekends. all employees worked the last 3 days of december. prepare the adjusting entries at december 31,2017.
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