Sanderlin Corporation has two manufacturing departments-Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: MachiningFinishingTotalEstimated total machine-hours (MHs) 5,000 5,000 10,000Estimated total fixed manufacturing overhead cost$26,500$13,500$40,000Estimated variable manufacturing overhead cost per MH$2.00$3.00 During the most recent month, the company started and completed two jobs-Job C and Job L. There were no beginning inventories. Data concerning those two jobs follow: Job CJob LDirect materials$12,500$8,200Direct labor cost$20,200$6,400Machining machine-hours 3,400 1,600Finishing machine-hours 2,000 3,000Assume that the company uses departmental predetermined overhead rates with
machine-hours as the allocation base in both production departments. The manufacturing overhead applied to Job L is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $11,680
B. $29,900
C. $17,100
D. $28,780
Answer: D
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Net credit sales: $790,000 Beginning net accounts receivable: $43,000 Ending net accounts receivable: $22,000 Calculate the accounts receivable turnover ratio. (Round your answer to the nearest whole number.) A) 18 times B) 24 times C) 36 times D) 34 times
Which of the following is considered an inflexible leadership approach?
a. path-goal b. Hersey/Blanchard c. Vroom/Jago d. none of these
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Answer the following statement true (T) or false (F)
An employee earns $8,500 for the current period. The cumulative earnings of previous pay periods is $100,900. Social security tax applies to the first $128,400 of employee earnings. Calculate the total and individual amounts to be withheld for social security (6.2%), Medicare (1.45%) and federal income tax (15%).
What will be an ideal response?