2
On January 2, Good Sound, Inc. purchased a speaker for sale on account with a listed price of $2,100. On January 15,
Good Sound sold to Sweet Coffee, Inc. a speaker on account for $3,500 with terms of 3/15, n 45. On January 20,
Sweet Coffee paid the invoice in full. What is net amount of Sales Revenue (1.e. Net Sales Revenue) reported to Good
Sound's Income statement?

Answers

Answer 1

Answer:

noise pollution

Explanation:

because it is a very good noise


Related Questions

On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note, AZC dishonors the note and fails to pay. The journal entry that Zest would make to record the failure to pay this note on the due date would include a debit to:____.
A. Notes Receivable for $5,000.
B. Accounts Receivable - AZC for $5,000.
C. Cash for $5,000.
D. Cash for $5,100.
E. Accounts Receivable - AZC for $5,100.
F. Notes Receivable for $5,100.

Answers

C. Cash for 5,000. ……

Over the years, Hampton Industries' stockholders have provided $40,000,000 of capital when they purchased new issues of stock and allowed management to retain some of the firm's earnings. The firm now has 1,000,000 shares of common stock outstanding, and the shares sell at a price of $52 per share. What is Hampton's MVA(market value added)

Answers

Answer:

Hampton Industries

Hampton's Market value added (MVA) is:

= $12,000,000

Explanation:

a) Data and Calculations:

Stockholders' Equity = $40,000,000

Common stock outstanding = 1,000,000

Market price per share = $52

Market capitalization = $52,000,000 ($52 * 1,000,000)

Market value added (MVA) = $12,000,000 ($52,000,000 - $40,000,000)

b) The market value added (MVA) is the difference between the market capitalization of Hampton's stock and the capital contribution of stockholders.

True or false? if false explain. An internally held public debt is like a debt of the left hand owed to the right hand.

Answers

Answer:True

Explanation: AN internally held debt is like a debt of the left hand owned to the right hand. This is a true statement. Left hand and right hand is ib the same body. Similarly,internal debit is taken from public of one's own nation. Just like things are in left hand or right hand, it remains in same person. Similarly, internal debit is borrowed from the people of the nation itself and is held within the nation.

Oriental Foods Inc. is a multinational food and beverage company. Its product labels focus on being foods that are easy to make in 5 minutes or less for a complete meal that's great for lunch or a snack. In this case, Oriental Foods is using _______.

Answers

Answer:

Persuasive labelling

Explanation:

Persuasive labelling is a type of product packaging or appearance that focuses on a promotional theme.

The aim is to increase consumer loyalty and ultimately increase sales.

I'm the given scenario Oriental Foods Inc. uses product labels that informs consumers that the foods are easy to make in 5 minutes or less for a complete meal that's great for lunch or a snack.

This is persuasive labelling

The cost of leather used to produce leather jackets falls by 30%. This will result in ________.
a. a decrease in demand.
b. an increase in the quantity demanded.
c. an increase in demand.

Answers

I believe the answer to your question is C

There are different kinds of cost. The above scenario will result in an increase in demand.

A reduction in the price of leather jackets often makes more people to buy leather jackets, hence reducing the demand for sweatshirts.

If the price of a good is said to falls, the quantity supplied of that good also decreases. The lower the price, the more the demand for that product.

learn more about demand from

https://brainly.com/question/4371942

Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $136,612.
Carlise has identified the following information about its overhead activity cost pools and the two product lines:
Activity Cost Pools Cost Driver Cost Assigned to Pool Quantity/Amount
Consumed by Indoor Line Quantity/Amount
Consumed by Outdoor Line
Materials handling Number of moves $ 18,661 560 moves 430 moves
Quality control Number of inspections $ 76,590 6,000 inspections 5,100 inspections
Machine maintenance Number of machine hours $ 41,360 22,000 machine hours 25,000 machine hours
Required:
1. Suppose Carlise used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.)
Overhead Assigned
Indoor Model ?
Outdoor Model ?
Total ?
2. Calculate the activity proportions for each cost pool in Carlise's ABC system. (Round your answers to 2 decimal places.
Activity Proportions
Indoor Line
Outdoor Line
Materials Handling % ? % ? per Move
Quality Control % ? % ? per Inspection
Maintenance % ? % ? per Machine hour
3. Calculate the amount of overhead that Carlise will assign to the Indoor line if it uses an ABC system.(Round your intermediate calculations to 2 decimal places and round your final answers to the nearest whole dollar amount.)
Indoor Model
Materials Handling ?
Quality Control ?
Maintenance ?
Total Overhead Assigned ?

Answers

Answer:

Carlise Corp.

1. Traditional method:

Overhead Assigned

Indoor Model      $63,946    

Outdoor Model  $72,666

Total                   $136,612

2. Activity Proportions

Overhead assigned          Indoor       Outdoor

Materials handling             56.6%      43.4%  per move

Quality control                    54.1%      45.9%  per inspection

Machine maintenance       46.8%     52.2%   per machine hour

3. Overhead assigned using ABC system:

Overhead assigned              Indoor         Outdoor      Total

Materials handling             $10,556         $8,105        $18,661

Quality control                     41,400         35,190         76,590

Machine maintenance        19,360        22,000          41,360

Total overhead assigned  $71,316      $65,295       $136,611

Explanation:

a) Data and Calculations:

Total overhead = $136,612

Activity Cost            Cost Driver          Cost Assigned          Indoor   Outdoor

    Pools                                                 to Pool  

Materials handling Number of moves          $ 18,661             560          430

Quality control       Number of inspections $ 76,590          6,000      5,100

Machine

maintenance        Number of m. hours      $ 41,360         22,000  25,000

Overhead rate based on machine hours:

= $2.91 ($136,612/47,000)

Overhead assigned to each product line:

                                     Indoor     Outdoor

Overhead assigned  $63,946    $72,666

  (22,000/47,000 * $136,612)    ($25,000/47,000 * $136,612)

Overhead rates using activity costing method:

Materials handling $ 18,661/990 = $18.85

Quality control      $ 76,590/11,100 = $6.90

Machine maintenance        $ 41,360/47,000 = $0.88

Overhead assigned              Indoor                Outdoor                Total

Materials handling             $10,556 56.6%      $8,105  43.4%   $18,661

Quality control                     41,400  54.1%       35,190  45.9%   76,590

Machine maintenance        19,360  46.8%     22,000  52.2%    41,360

Total overhead assigned  $71,316  52.2%   $65,295  47.8% $136,611

All of the following are examples of batch-level activities EXCEPT: a. clerical activity associated with processing purchase orders to produce an order for a standard product. b. purchase order processing. c. setting up equipment. d. worker recreational facilities.

Answers

Answer:

d. worker recreational facilities.

Explanation:

The batch-level activities are the expenses that are incurred when the new bathes could be processed. It is only available at bulk not an individual

Since worker recreational facilities are related to the company and it is not related with the batch as it is related how we can motivate the employees

Therefore the option d is correct

Concord Corporation took a physical inventory on December 31 and determined that goods costing $225,000 were on hand. Not included in the physical count were $20,400 of goods purchased from Pelzer Corporation, FOB shipping point, and $22,000 of goods sold to Alvarez Company for $31,400, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.

Required:
What amount should Stallman report as its December 31 inventory?

Answers

Answer:

$267,400

Explanation:

Calculation to determine What amount should Stallman report as its December 31 inventory?

Using this formula

December 31 inventory=Goods costing on hand+Goods purchased+FOB shipping point

Let plug in the formula

December 31 inventory=$225,000+$20,400+$22,000

December 31 inventory=$267,400

Therefore the amount that Stallman should report as its December 31 inventory is $267,400

If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis the indifference curves: Group of answer choices will be straight lines with a slope of 1/2. will be straight lines with a slope of -1. will be right angles whose corners occur on a ray from the origin with a slope of 2. none of these options is correct. will be straight lines with a slope of -1/2.

Answers

Answer: will be straight lines with a slope of -1/2.

Explanation:

An indifference curve simply means the combination of two goods that can give a consumer equal satisfaction, and this makes the consumer indifferent.

It should be noted that along the curve, the consumer will have an equal preference which is for the combinations of the goods that are shown.

If a consumer is always indifferent between an additional one grapefruit or an additional two oranges, then when oranges are on the horizontal axis, then the indifference curves will be straight lines with a slope of -1/2. Here, the fact that the slope is negative

is due to the fact that the curve is downward sloping.

Peterson Photoshop sold $2,700 in gift cards on a special promotion on October 15, 2021, and sold $4,050 in gift cards on another special promotion on November 15, 2021. Of the cards sold in October, $270 were redeemed in October, $675 in November, in November, and $330 in December. Of the cards sold in November, $165 were redeemed in November and $385 were redeemed in December. Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months.

At 12/31/2016, Peterson would show a deferred revenue account for the gift cards with a balance of: ____________

a. $1,650.
b. $0.
c. $1,100.
d. $1,485.

Answers

Answer:

1650 I think ... I think so maybe

1. The difference between contribution margin and income from operations is___.
a. net income.
b. variable costs.
c. fixed costs.
d. one of these choices are correct.
2. A company's operating leverage is computed as:____.
a. contribution margin divided by income from operations.
b. profit margin divided by net income.
c. revenue divided by expenses.
d. none of these choices are correct.
3. The __________ is the relative distribution of sales among the products sold by a company.
a. sales mix.
b. mixed cost.
c. product mix.
d. none of these choices are correct.
4. The unit selling price of the overall enterprise product equals the____.
a. average selling price of the products.
b. price of the highest-selling product in the mix.
c. sum of the unit selling prices of each product multiplied by its sales mix percentage.
d. price of the product with the lowest selling price.

Answers

Answer:

1. The difference between contribution margin and income from operations is fixed costs.  income from operations = Contribution margin - Fixed expenses. So therefore, the difference between contribution margin and income from operations is known as fixed costs.

2. A company's operating leverage is computed as contribution margin divided by income from operations. Degree of Operating Leverage = Contribution Margin / Net Operating Income

3. The sales mix is the relative distribution of sales among the products sold by a company.

4. The unit selling price of the overall enterprise product equals the sum of the unit selling prices of each product multiplied by its sales mix percentage.

A job order costing system does which of the following? Select one: A. Is used to determine period costs in a service company B. Is used to determine unit costs when products are manufactured in a continuous flow process C. Allocates manufacturing costs to individual jobs to determine unit costs D. Both A and B E. None of the above

Answers

Answer: C. Allocates manufacturing costs to individual jobs to determine unit costs

Explanation:

Job order costing is used to identify the cost of producing a single units of a good. It is usually used by small to medium scale companies who produce per good or by companies that specialize in the production of a custom goods and services.

Under job order costing, manufacturing costs are allocated to individual jobs in order to determine what the individual jobs cost so that an appropriate selling price can be given.

R&D Technology Corporation just paid a dividend of $0.50 per share. Analysts expect its dividend to grow at 24 percent per year for the next two years and then 8 percent per year thereafter. If the required rate of return in the stock is 16 percent, calculate the current value of the stock.

Answers

Answer:

$8.82

Explanation:

The computation of the current value of the stock is given below:

Given that

The dividend per share is $0.50

The growth rate is 24% for the next two years

And, then it should be 8 % per year

And, the required rate of return is 16%

Now based on the above information, the current value of the stock is $8.82

The calculation is to be shown in the attachment

On December 18, Intel receives $249,000 from a customer toward a cash sale of $2.49 million for computer chips to be completed on January 23. The computer chips had a total production cost of $1.49 million. What journal entries should Intel record on December 18 and January 23

Answers

Answer:

December 18

Debit cash $249,000

Credit deferred revenue $249,000

January 23rd

Debit Cash $2,241,000

Debit deferred revenue $249,000

Credit sales revenue $2,490,000

January 23rd

Debit Cost of goods sold $1.49 million

Credit Inventory $1.49 million

Explanation:

Preparation of the journal entries that Intel should record on December 18 and January 23

December 18

Debit cash $249,000

Credit deferred revenue $249,000

January 23rd

Debit Cash $2,241,000

($2.49 million-$249,000)

Debit deferred revenue $249,000

Credit sales revenue $2,490,000

($2,241,000+$249,000)

January 23rd

Debit Cost of goods sold $1.49 million

Credit Inventory $1.49 million

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $ 146 Units in beginning inventory 0 Units produced 2,470 Units sold 2,040 Units in ending inventory 430 Variable costs per unit: Direct materials $ 50 Direct labor $ 20 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 19 Fixed costs: Fixed manufacturing overhead $ 69,160 Fixed selling and administrative expense $ 20,400 The total gross margin for the month under absorption costing is:

Answers

Answer:

Total gross margin= $75,480

Explanation:

Giving the following information:

Selling price $ 146

Units in beginning inventory 0

Units produced 2,470

Units sold 2,040

Variable costs per unit:

Direct materials $ 50

Direct labor $ 20

Variable manufacturing overhead $ 11

Fixed costs:

Fixed manufacturing overhead $ 69,160

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

First, we need to calculate the unitary production cost:

Unit product cost= direct material + direct labor + total unitary overhead

Unitary fixed overhead= 69,160 / 2,470= $28

Unit product cost= 50 + 20 + (11 + 28)= $109

Now, the gross margin:

Unitary Gross margin= selling price - Unit product cost

Unitary Gross margin= 146 - 109

Unitary Gross margin= $37

Total gross margin= 37*2,040

Total gross margin= $75,480

Assume that Zonk is a potential leveraged buyout candidate. Assume that the buyer intends to put in place a capital structure that has 70 percent debt with a pretax borrowing cost of 14 percent and 30 percent common equity. Compute the weighted average cost of capital for Zonk based on the new capital structure.
A. 8.85%.
B. 12.56%.
C. 13.01%.
D. 9.94%.

Answers

Answer:

A.8.85%

Explanation:

Computation to determine the weighted average cost of capital for Zonk based on the new capital structure.

First step is to calculate the Cost of equity capital using this formula

Cost of equity capital = Risk free rate + (Beta*Market premium)

Let plug in the formula

Cost of equity capital = 2.3% + (1.13*5.3%)

Cost of equity capital=8.28%

Now let determine theWeighted average cost capital

Weighted average cost capital = [.70*.14*(1-.35)]+(.30*.0828)

Weighted average cost capital= [.70*.14*.65]+.02484

Weighted average cost capital=0.0637+.02484

Weighted average cost capital= .0885*100

Weighted average cost capital= 8.85%

Therefore the weighted average cost of capital for Zonk based on the new capital structure is 8.85%

You feel that you will need $2.2 million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of 10.2 percent compounded monthly and plan to save $305 per month until you reach your goal. How many years will it be until you reach your goal and retire

Answers

Answer: 40.7 years

Explanation:

You can use Excel to sold for this using the NPER function.

Rate = 10.2% / 12 months = 0.85%

Payment is $305 per month

Present value is $0

Future value is $2,200,000

Number of periods = 488.1979353

In years this is:

= 488.1979353 / 12

= 40.7 years

Relevant Range and Fixed and Variable Costs
Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 61,600 to 100,800 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:
Components produced 61,600 79,200 100,800
Total costs:
Total variable costs . . . . . . . . . $19,712 (d) (j)
Total fixed costs . . . . . . . . . . . . 22,176 (e) (k)
Total costs . . . . . . . . . . . . . . . . . $41,888 (f) (l)
Cost per unit:
Variable cost per unit . . . . . . . (a) (g) (m)
Fixed cost per unit . . . . . . . . . . (b) (h) (n)
Total cost per unit . . . . . . . . . . (c) (i) (o)
Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.
Cost Report
Components produced 61,600 79,200 100,800
Total costs:
Total variable costs $19,712 (d) $ (j) $
Total fixed costs 22,176 (e) (k)
Total costs $41,888 (f) $ (l) $
Cost per Unit
Variable cost per unit (a) $ (g) $ (m) $
Fixed cost per unit (b) (h) (n)
Total cost per unit (c) $ (i) $ (o) $

Answers

Answer:

Variable cost per unit is constant.

Total fixed cost is constant.

Explanation:

Common property resources like fish stocks in open waters tend to be overutilized because :________.
A. the marginal social cost is always equal to the private marginal cost.
B. the marginal social cost is less than the private marginal cost.
C. the marginal social cost is greater than the private marginal cost.
D. none of the above.

Answers

Answer:

C. the marginal social cost is greater than the private marginal cost.

Explanation:

In the case when there is common property resources such as the fish stock that lies in the open waters should be overutilized as the marginal social cost should be more than the private marginal cost because if there is high utlization so it will make the problem in the environment also the cost should be borne by the present and upcoming generations

Therefore the option c is correct

Nation Furniture is a furniture manufacturing facility. Its workers just signed a two-year contract. The price level in the economy has increased.
a. If the price level increases, input prices will:_____.
a) increase.
b) decrease.
c) remain constant.
b. If the price level increases, output prices will:___.
a) increase.
b) decrease.
c) remain constant.
c. In the short run, the firm will experience a(n):______.
a) increase in economic profits.
b) decrease in economic profits.
c) increase in economic loesses.

Answers

Answer:

a. c) remain constant. b. a) increase.c. a) increase in economic profits

Explanation:

a. The workers have just signed a two-year contract which means that in the short run, their wages are fixed to what was agreed to in the contract. Input prices will therefore remain constant.

b. Output prices on the other hand will increase to match the increase in price levels.

c. The company would therefore see an increase in economic profits because they are getting a higher revenue from the increased prices of outputs than they are incurring costs from the constant input prices.

Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the lease will be $2,468. The first payment will be at the end of the current year and all subsequent payments will be made at year-ends. If the discount rate is 5%, the present value of the lease payments is closest to :___________

Answers

Answer:

$12,528

Explanation:

The computation of the present value of the lease payment is given below:

= annual payment × PVIFA factor for 6 years at 5%

= $2,468 × 5.0757

= $12,528

We simply multiply the annual payment with the pVIFA factor so that the  present value of the lease payment could come

the ness company sells $5,000,000 of five-year, 10% bonds at the start of the year. the bonds have an effective yield of 9%. present value factors are below: The amount of bond premium amortization for Year 2 is:

Answers

Answer:

The amount of bond premium amortization for Year 2 is:

=  $35,421.26

Explanation:

a) Data and Calculations:

Face value of bonds = $5,000,000

Selling price of bonds = $5,194,482.56

Premium on bonds = $194,482.56

Coupon interest rate = 10%

Effective yield = 9%

Annual interest payment = $500,000 ($5,000,000 * 10%)

N (# of periods)  5

I/Y (Interest per year)  9

PMT (Periodic Payment)  500000

FV (Future Value)  5000000

Amortization Schedule

Period PV                            Annual PMT     Interest        Amortization

Year 1       $5,194,482.56     $500,000.00   $467,503.43      $32,496.57

Year 2      $5,161,985.99      $500,000.00 $464,578.74       $35,421.26

Year 3      $5,126,564.73     $500,000.00 $461,390.83       $38,609.17

Year 4    $5,087,955.56      $500,000.00 $457,916.00     $42,084.00

Year 5     $5,045,871.56      $500,000.00 $454,128.44    $45,871.56

End of Year 5 FV = $5,000,000

Results

PV = $5,194,482.56

Sum of all periodic payments $2,500,000.00

Total Interest $2,305,517.44

Suppose ABCD's stock price is currently $50. In the next six months, it will either fall to $40 or rise 8 to $60. What is the current value of a six-month call option with an exercise price of $50? The six- month risk-free interest rate is 2% (periodic rate).
A. $5.39
B. $15.00
C. $8.25
D. $8.09

Answers

The answer is B. $15.00

Skysong, Inc. has the following inventory data: July 1 Beginning inventory 30 units at $19 $570 7 Purchases 105 units at $20 2100 22 Purchases 15 units at $22 330 $3000 A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the average cost method, the value of ending inventory is

Answers

Answer: $1000

Explanation:

Using the average cost method, the value of ending inventory will be calculated thus:

Average cost per unit = Total cost / Total number of units

= $3000/150

= $20 per unit

Value of ending inventory = 50 units × $20 = $1000

Therefore, the value of ending inventory is $1000.

Hello I need help please

Answers

Answer:

A

Explanation:

saying they don't know is a clear sign of being uninformed

Answer:

I want to say the correct answer is d.

Explanation:

I want to say that is the correct answer but I am not sure.

When preparing the operating activities section of the statement of cash flows using the direct method, revenues and gains with no cash inflows are added back to net income. True or False 16

Answers

Answer: False

Explanation:

The primary reason for the Statement of Cashflows is to see how the company spends and receives its cash so that it can get a better view of just how much actual cash the company has.

This means that the method of preparing the cashflow statement could either be direct or indirect and this would not affect the fact that only items that have actual cash flows will be recorded.

Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $52,000 during the year. Income generated through the brokerage account was as follows: Municipal interest $104,000 Taxable dividends and interest 520,000 If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct

Answers

Answer: $43,160

Explanation:

The amount of investment interest that can be deducted is:

= Interest expense * Proportion of total income that is taxable

Municipal interest is not taxable so the proportion of total income that is taxable is:

= Taxable dividends and interest / Total income

= 520,000 / (520,000 + 104,000)

= 0.83

Amount of investment interest that is deductible:

= 52,000 * 0.83

= $43,160

The debits to Work in ProcessâAssembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,441 Conversion costs, 3,000 units, 40% completed 5,477 Materials added during April, 10,000 units 27,805 Conversion costs during April 32,363 Goods finished during April, 12,000 units 0 April 30 work in process, 1,000 units, 40% completed 0 All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is
a.$2.81
b.$2.49
c.$2.89
d.$3.24

Answers

Answer: c. $2.89 per unit

Explanation:

Using the First-In, First-Out method, we need to find the equivalent units first:

= Equivalent opening units + Units started and completed + Equivalent ending units

= (Opening units left to be completed) + (Units completed - opening units) + (proportion of closing units completed with respect to conversion)

= (3,000 * (1 - 40%)) +  (12,000 - 3,000) + (1,000 * 40%)

= 11,200 units

Conversion costs = 32,363

Conversion cost per units:

= 32,363 / 11,200 units

= $2.89 per unit

Firm X is considering the replacement of an old machine with one that has a purchase price of $70,000. The current market value of the old machine is $18,000 but the book value is $32,000. The firm's tax rate is 30%. What is the net cash outflow for the new machine after considering the sale of the old machine? Disregard the effect of depreciation of the new machine if acquired.
A. $47,800
B. $70,000
C. $52,000
D. $40,100 20.

Answers

Answer:

A. $47,800

Explanation:

Calculation to determine the net cash outflow for the new machine after considering the sale of the old machine

First step

Loss on sale of old machine = 18000 - 32,000

Loss on sale of old machine = ($14,000)

Second step

Tax savings from loss on sale=14,000 x 30%

Tax savings from loss on sale = $4200

Third step

Net benefit from sale of old machine = Sales proceeds + tax on loss of sale

Net benefit from sale of old machine= $18,000 + $4200

Net benefit from sale of old machine= $22,200

Now let determine the Net cash outflow for new machine

Net cash outflow for new machine = Cost of new machine – Net benefit

Net cash outflow for new machine= $70,000 – $22,200

Net cash outflow for new machine= $47,800

Therefore the net cash outflow for the new machine after considering the sale of the old machine is $47,800

TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a predetermined overhead rate based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 22,000 Fixed overhead cost $ 253,000 Variable overhead cost per direct labor-hour $ 1.00 During the year, a customer brought in her car for repairs. The following information was available with respect to the car's repairs: Direct materials $ 703 Direct labor cost $ 317 Direct labor-hours used 8 If TCost-908 sets its selling prices by adding a markup percentage of 40% of its total job cost, then how much would the company have charged this customer for her car's repairs?

Answers

Solution :

1.  Predetermined overhead rate

Fixed [tex]\text{overhead cost}[/tex]    (253,000 / 22,000)    =  $ 11.5

Variable [tex]\text{overhead cost}[/tex] per direct labor-hour  = $ 1

Predetermined overhead rate                          = $12.5

2.  Total job cost                  $

   Direct materials               703

  Direct labor cost               317

 Applied overhead (8 hours x $12.5 per direct labor hour)   = 100

 Total job cost                    = $ 1120

3. Charges     = $ 1120 x 140%

                      = $1568

 

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