Rist Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine-hours. The Corporation actually worked 105,000 machine-hours and incurred $270,000 in manufacturing overhead costs. By how much was manufacturing overhead underapplied or overapplied for the year? (Round your intermediate calculations to 2 decimal places.)
A. $2,250 underapplied
B. $2,250 overapplied
C. $15,000 underapplied
D. $15,000 overapplied
Answer: A
You might also like to view...
How should a writer prepare to write a response to an RFP?
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Basic assumptions are the key starting point for ethical decision making within the firm. 2. Lewin’s primary embedding mechanisms are concerned with the behavior and leadership traits of the most senior managers in a firm. 3. In the unfreezing stages of Kurt Lewin’s three-stage model, the new perceptions and ideals are “locked in.” 4. The 2011 National Business Ethics Survey 2011 found 22% of the respondents had observed misconduct in the workplace, and 45% of these were subject to some form of retaliation.
Babs sees an e-book reader on the porch of Coco's house, takes the reader to her home, and tells everyone she owns it. Danno, wielding a knife, forces Easter to give him her smartphone, and runs away with it. Fritz breaks into Ginger's apartment, takes
alaptop, and leaves. Hazel sells Idi an expensive wristwatch for a fraction of its value, admitting that the watch is stolen property but claiming that she is not the thief. Which of these acts are crimes, and what are the differences among them?
CN Railways is North America's fifth largest railway. Forecast the financial statements for CN for Year 11. Use the percent of sales method based on Year 10 and the assumptions listed below
Please note the ratios to sales provided in the table which are useful for making the forecast. Sales growth of 10%. The cost of debt is 4.59%. The tax rate is 31.943%. The depreciation rate is 3%. CAPEX is $1,600 Million. The following accounts are constant: Intangible assets, Deferred taxes, and Common Stock. Long term debt is the PLUG variable. No dividends. Forecast the financial statements for CN. What are the additional funds needed (AFN) in Year 11? The AFN is the change in the plug account from Year 10 to Year 11. CN Railway Company Income Statement and Balance Sheet As of December 31, Year 10 ($ 000,000's) Year 10 Ratios Forecast Revenue $6,110 $6,721 COGS 2,550 0.417349 Dep. Exp. 499 SG&A 1,945 0.318331 EBIT 1,116 Int. Exp. 277 Income before Taxes 839 Income Taxes 268 Net income $571 ASSETS Year 10 Ratios Forecast Total Current Assets 1,163 0.190344 PP&E 16,898 Intangible assets 863 863 Total assets $18,924 Total Current liabilities 2,134 0.349264 Deferred Taxes 5,160 5,160 Long-term debt 5,003 Common Stock 3,558 3,558 Retained earnings 2,762 Total Owner's Equity 6,627 Total liabilities and Owner's equity 18,924 A) $64 million B) $165 million C) $342 million D) $580 million E) $965 million