Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $750,000 and $550,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 18,000 hours and 7000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A) $1.36 per labor hour B) $30.56 per labor hour C) $78.57 per machine hour D) $107.14 per machine hour

Answer:

OAR = $78.57 per Machine Hour

Option c is the correct answer

Explanation:

The overhead allocation rate also known as the overhead absorption rate (OAR) is the rate at which overheads are applied to a particular unit or product or a job. It provides the basis of allocation for the overheads that cannot be directly identified with a particular unit or product. The formula for OAR is,

OAR = Total budgeted overheads / Total budgeted allocation base

In the given question, the estimated overheads are $550000 while the absorption base is machine hours and the estimated number of machine hours is 7000.

OAR = 550000 / 7000

OAR = $78.57 per Machine Hour

Jabari Manufacturing, a widgets manufacturing company, divides its production operations into three processes—Department 1, Department 2, and Department 3. The company uses a process costing system. Jabari incurred the following costs during the year to produce 4800 units: Department 1 $17,000 Department 2 $7000 Department 3 $10,000 If Jabari could sell only 3100 units during the year, what will be the cost per unit of widget produced? (Round your answer to the nearest cent.) A) $10.97 B) $5.00 C) $7.08 D) $3.54

Nesmith Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below: Alternative AAlternative B Materials costs$26,000 $60,000 Processing costs$32,000 $32,000 Equipment rental$10,600 $28,300 Occupancy costs$19,300 $27,200 What is the differential cost of Alternative B over Alternative A, including all of the relevant costs

Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts: Retained Earnings $16,700, Dividends $4,700, Service Revenue $36,300, Salaries and Wages Expense $15,000, Insurance Expense S1,980, Rent Expense $4,000, Supplies Expense $1,590, and Depreciation Expense丰900. The balance in Retained Earnings is the balance as of January 1.
Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.)

The predetermined overhead allocation rate is calculated by dividing ________. A) the estimated overhead costs by total estimated quantity of the overhead allocation base B) the total estimated overhead costs by total number of days in a year C) the estimated amount of cost driver by actual total overhead costs D) the actual overhead costs by actual amount of the cost driver or allocation base

"If our company achieves a high level of relational coordination, what can we expect in terms of employee behavior?" Check all that apply. Employees will be empowered to collaborate directly with each other across organizational boundaries. Employees in different departments or divisions will share information easily. Project managers, cross-functional teams, and task forces will play a vital role in sharing information between departments or divisions. Information will flow across a network of informal relationships rather than primarily through a formal chain of command.

Rebecca received a check from her parents for her 20th birthday. She, however, does not have an account at any bank, so she is unable to cash the check. Even though it will cost her a fee, where can Rebecca go to get her money?

A.
rent-to-own service

B.
pawnshop

C.
check cashing business

D.
payday loan business

Magic Realm, Inc., has developed a new fantasy board game. The company sold 8,400 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $84,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 10,416 games next year (an increase of 2,016 games, or 24%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year

Why do economists love graphs?

A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?

The following information was taken from the records of Rectangle Corporation for the year ended December 31, 2019. Advertising expense $120,000 Income tax expense 78,000 Accounts payable 80,700 Dividends paid 90,000 Retained earnings (Jan. 1, 2016) 347,160 Consulting fees revenue 600,000 Rent expense 70,200 Supplies expense 101,400 The net income reported by Circle Corporation for the year ended December 31, 2019 was:

Yolanda and Mack are negotiating a contract deal for sale of goods. Yolanda offers Mack $2 per pound for Mack’s peanuts. Mack wants to sell them for $2.50. Under UCC, what happens when Mack asks for the higher amount, assuming both parties are merchants?

Mack’s offer becomes a counteroffer in this transaction, and Yolanda is the offeree.
Mack’s change of terms is incorporated into the standing deal.
Mack cannot make a new offer under UCC – he can only accept or reject Yolanda’s standing offer.
Mack’s offer negates the terms of the contract, and a new contract must be drawn up when both parties can meet.

Nelson Company experienced the following transactions during 2016, its first year in operation.
1. Issued $6,600 of common stock to stockholders.
2. Provided $2,900 of services on account.
3. Paid $1,750 cash for operating expenses.
4. Collected $2,200 of cash from accounts receivable.
5. Paid a $130 cash dividend to stockholders.
35.
The amount of net income recognized on Nelson Company's 2016 income statement is:_______.
a. $1,020.
b. $700.
c. $830.
d. $1,150.

"When the price of a product rises, consumers purchase less of that product." This statement describes:

Law of Demand

Law of Supply
An inferior good
Market Equilibrium

which of the following items are likely to be normal goods for a tropical customer? which is likely to be inferior goods?
a) Expensive perfume
b) paper plates
c) Secondhand clothing
d). Overseas trips

Mortensen Industries, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 5,000 Total equivalent units of conversion: 4,400 Units started and completed during the period: 3,500 On the basis of this information, the ending work-in-process inventory's stage of completion is: Multiple Choice 60%. 40%. 80%. 70%. some other percentage not listed.

Chapter 5 Questions Answer the following items and upload your responses to the appropriate drop box by the due date. 1. Orange Sun Manufacturing, Inc. produces high quality sunglasses which are marketed and sold under various brand names. The production engineers have determined that each line employee accounts for approximately 10 units per labor hour. If employees work an average of 2000 hours per year, and projected sales for 2017 are 9.5 million units, how many line employees will we need for the coming year

Krumbly Corporation uses the FIFO method in its process costing system. At the beginning of the month, Department D's work in process inventory contained 2,000 units. These units were 100% complete with respect to materials and 40% complete with respect to conversion costs, with a total cost at that point of $13,600. During the month, conversion costs amounted to $8 per equivalent unit. If all 2,000 units are fully complete by the end of the month and transferred out of the department, the total cost of the 2,000 units transferred out will be closest to:

Ann has 3/4 as many stickers as Brenda. Brenda has 2/5
as many stickers as Corrine

a) Find the ratio of the number of stickers Ann has to the number of stickers Corrine has
b) What fraction of the number of stickers Ann has is the number of stickers
Cornine has?
​

Novak Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 34,500 $ 21,000 Cost of goods purchased 177,000 155,000 Cost of goods available for sale 211,500 176,000 Less: Ending inventory 36,000 34,500 Cost of goods sold $175,500 $141,500 Novak made two errors: 1. 2021 ending inventory was overstated by $3,450. 2. 2022 ending inventory was understated by $6,350. Compute the correct cost of goods sold for each year.

Why do managers suggest that ignoring all cash flows following the assigned payback period is not a major flaw of the payback method of capital budgeting analysis? Payback is never used in real practice so it makes no difference how academics apply the method in their studies If the cash flows after the required payback period are significant, managers will use their discretion to override the payback rule. All cash flows after the first two years are highly inaccurate so including them lessens the reliability of the resulting decision. All cash flows after the assigned payback period are relatively worthless in today’s dollars so ignoring them has no consequence. The results of including the cash flows after the required payback period rarely have any effect on the accept/reject decision.v

Diusitech Inc. Income Statement For the Year Ending on December 31 (Millions of dollars)

Year 2 Year 1
Net Sales 3,175 2,500
Operating costs except depreciation and amortization 1,120 1,040
Depreciation and amortization 159 100
Total Operating Costs 1,279 1,140
Operating Income (or EBIT) 1,896 1,360
Less: Interest 256 109
Earnings before taxes (EBT) 1,640 1,251
Less: Taxes (40%) 656 500
Net Income 984 751

Calculate the profitability ratios of Diusitech Inc. in the following table. Convert all calculations to a percentage rounded to two decimal places.


Ratio Value

Year 2 Year 1
Operating margin 75.20%
Profit margin 40.14%
Return on total assets 17.18%
Return on common equity 32.30%
Basic earning power 26.13%


Decision makers and analysts look deeply into profitability ratios to identify trends in a company’s profitability. Profitability ratios give insights into both the survivability of a company and the benefits that shareholders receive. Identify which of the following statements are true about profitability ratios. Check all that apply.

a. A higher operating margin than the industry average indicates either lower operating costs, higher product pricing, or both.
b. If a company’s operating margin increases but its profit margin decreases, it could mean that the company paid more in interest or taxes.
c. An increase in the return on assets ratio implies an increase in the assets a firm owns.
d. If a company issues new common shares but its net income does not increase, return on common equity will increase.

Step 8 of 8

You've got the hang of it. Your

goal now is to adjust prices for

the remaining sections. Try to

find the highest price that will

generate demand for each

section. Change some prices,

then use the Start button to run

through a game. Keep doing this

until you meet the goal below.

Check your progress using

Reports >>Financials. Good luck!

Goal: Profit for a game of

$415,000 or greater.

increases in total factor productivity (TFP) can generate sustained increases in per capita output
growth because increasing
TFP does not cause diminishing returns
TFP lowers the capital stock
TFP lowers human capital
TFP increases the population
Question 9
1 pts
Between 1980 and 2017,
both China and India experienced increased standards of living
India experienced increased standards of living but China did not
Neither India nor China experienced increased standards of living
China experienced increased standards of living but India did not

Hi I need help with this question. I don't know what I'm doing so I hope you can explain how to solve it. Thank you in advance. ​

Anna is a forensic scientist who still uses the methods used by Dr. Leone Lattes. How is this MOST likely demonstrated in Anna’s work?

a) She uses blood types to help solve crimes.

b) She compares bullets to types of guns.

c) She studies the effect of poisons on animals.

d) She looks at fingerprints using a microscope.

The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet.
She has studied three locations. Each would have the same labor and materials costs (food, serving
containers, napkins, etc.) of $1.76 per sandwich. Sandwiches sell for $2.65 each in all locations.
Rent and equipment costs would be $5,000 per month for location A, $5,500 per month for location B, and $5,800 per month for location C.
a. Determine the volume necessary at each location to realize a monthly profit of $10,000.
b. If expected sales at A, B, and C are 21,000 per month, 22,000 per month, and 23,000 per
month, respectively, which location would yield the greatest profits?

A production department's output for the most recent month consisted of 14,000 units completed and transferred to the next stage of production and 14,000 units in ending Work in Process inventory. The units in ending Work in Process inventory were 70% complete with respect to both direct materials and conversion costs. There were 1,800 units in beginning Work in Process inventory, and they were 90% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.

Two European Courts are the Court of Justice of the European Union and the European Court of Copyrights.


False

True

Garret Company has provided the following selected information for the year ended December 31, 2019: Cash collected from customers was $784,000. Cash received from stockholders in exchange for common stock totaled $84,000. Cash paid to suppliers was $368,000. Cash paid to employees was $208,000. Cash to stockholders for dividends was $48,000. Cash received from sale of a building was $240,000. Cash paid for store rent was $34,000. Cash received for interest and dividends was $7,000. Cash paid for income taxes was $54,000. Based on the selected information provided, how much was Garret's cash flow from operating activities

ProTech began business at the start of the current year. The company planned to produce 40,000 units, and actual production conformed to expectations. Sales totaled 37,000 units at $42 each. Costs incurred were: Variable manufacturing overhead per unit $ 19 Fixed manufacturing overhead 240,000 Variable selling and administrative cost per unit 7 Fixed selling and administrative cost per unit 140,000 If there were no variances, the company's variable-costing income would be: Multiple Choice $212,000. $155,000. $240,500. $592,000. None of the answers is correct.