Hykes Corporation's manufacturing overhead includes $4.40 per machine-hour for supplies; $4.40 per machine-hour for indirect labor; $55,800 per period for salaries; and $58,590 per period for depreciation.Required:Determine the predetermined overhead rate if the denominator level of activity is 3,100 machine-hours.
What will be an ideal response?
Estimated total manufacturing overhead cost = [($4.40 per MH + $4.40 per MH) × 3,100 MHs] + ($55,800 + $58,590) = $27,280 + $114,390 = $141,670
Predetermined overhead rate = Estimated total manufacturing overhead cost/Estimated total amount of the allocation base = $141,670 ÷ 3,100 machine-hours = $45.70 per machine-hour
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A constituency is
A. two or more parties on the same side who are working together and collectively advocating the same positions and interests. B. any individual or group of people who are not directly involved in or affected by a negotiation, but who have a chance to observe and react to the ongoing events. C. one or more parties whose interests, demands, or priorities are being represented by the focal negotiator at the table. D. a negotiator representing the interests of another party.
Poobah Manufacturers Inc has estimated total factory overhead costs of $95,000 and 10,000 direct labor hours for the current fiscal year. If job number 117 incurred 1,600 direct labor hours, the work in process account will be debited and factory overhead will be credited for:
A) $15,200 B) $0; WIP is credited C) $95,000 D) $1,600
In a mixed integer model, some solution values for decision variables are integer and others can be non-integer
Indicate whether this statement is true or false.
Purple Company makes and sells computer printers. It has taxable income of $1,300,000 before taking into account charitable contributions. The company contributed a parcel of unused land to an art museum to be used to construct a branch museum. The land had a FMV of $50,000 and a basis of $30,000. The company also donated 1,000 of its computer printers to the local community college for use in student computer labs. The printers have a FMV of $200 each and a basis of $120 each. Determine the taxable income of Purple Company and its charitable contribution carryforward, if any.
What will be an ideal response?