Frinut Company estimates the following overhead costs for the coming year: Equipment depreciation $250,000 Equipment maintenance 50,000 Supervisory salaries 20,000 Factory rent 100,000 Total $420,000 Frinut budgeted $600,000 in direct labor costs and 14,000 machine hours for the coming year. (a) Incorrect answer iconYour answer is incorrect. Calculate the predetermined overhead rate using direct labor costs as the allocation base. (Round answer to 2 decimal places, e.g. 15.25.) Predetermined overhead rate $enter the predetermined overhead rate in dollars per direct labor 1.7 per direct labor Attempts: 1 of 1 used (b) Incorrect answer iconYour answer is incorrect. Calculate the predetermined overhead rate using machine hours as the allocation base. (Round answer to 2 decimal places, e.g. 15.25.) Predetermined overhead rate $enter the predetermined overhead rate in dollars per machine hour 72.86 per machine hour

Answer:

$0.70 per direct labor hour

$30 per direct labor hour

Explanation:

The computation is shown below:

a. For  predetermined overhead rate using direct labor costs is

= Estimated overhead ÷ estimated direct labor cost

= $420,000 ÷ $600,000

= $0.70 per direct labor hour

b. For  the predetermined overhead rate using machine hours is

= Estimated overhead ÷ estimated machine hours

= $420,000 ÷ 14,000 machine hours

= $30 per direct labor hour

Swanson Company has identified the following activities related to indirect production costs: Activity Activity Costs Cost Drivers Machine Setup $180,000 1,500 Setup Hours Materials Handling $50,000 12,500 pounds of materials Electric Power $20,000 20,000 Kilowatt hours Swanson Company has obtained the following data concerning two products: Product 1 Product 2 Number of units produced 4,000 20,000 Direct Material Cost $20,000 $25,000 Direct Labor Cost $12,000 $20,000 Number of setup hours 100 120 Pounds of materials used 500 1,500 Kilowatt-hours 1,000 2,000 Using Activity Based Costing, what is the total production cost per unit for Product 1

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 120 units at $39 10 Sale 90 units 15 Purchase 140 units at $40 20 Sale 110 units 24 Sale 45 units 30 Purchase 160 units at $43 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

The following transactions occurred during March, the first month of operations for Quality Galleries, Inc. * Capital Stock was issued in exchange for $360,000 cash. * Purchased $180,000 of equipment by making a $60,000 cash down payment and signing a note payable for the balance. * Made a $35,000 cash payment on the note payable from the purchase of equipment. * Sold a piece of equipment for cash of $18,000. The equipment was sold at cost, so there is no gain or loss on the sale. What are total assets of Quality Galleries at the end of March

Which applicants would be best qualified for the jobs based on educational level?
O Applicant 2 is qualified to be a Radiologist, applicant 1 is qualified to be an Orderly, and applicants 2, 3, and 4
are qualified to be Biomedical Engineers.
O Applicant 3 is qualified to be a Radiologist, applicant 2 is qualified to be an Orderly and applicants 1 and 4 are
qualified to be Biomedical Engineers
O Applicant 1 is qualified to be a Radiologist, applicant 4 is qualified to be an Orderly, and applicants 2 and 3 are
qualified to be Biomedical Engineers.
O Applicant 4 is qualified to be a Radiologist, applicant 3 is qualified to be an Orderly, and applicants 1, 2, and
are qualified to be Biomedical Engineers

Suppose you are going to receive $13,600 per year for six years. The appropriate interest rate is 8.5 percent. a. What is the present value of the payments if they are in the form of an ordinary annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the present value if the payments are an annuity due? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. Suppose you plan to invest the payments for six years. What is the future value if the payments are an ordinary annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. Suppose you plan to invest the payments for six years. What is the future value if the payments are an annuity due? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You are given the following series of​ one-year interest​ rates: 3​%, 5​%,13 %, 15​% Assuming that the expectations theory is the correct theory of the term​ structure, calculate the interest rates in the term structure for maturities of one to four​ years, and plot the resulting yield curve. 1. Using the point drawing​ tool, plot the interest rate​ (calculated using the data​ above) for each of the four terms to maturity. Properly label each point according to its corresponding term. 2. Using the​ 4-point curved line drawing tool​, connect these points. Label your curve​ 'yield curve'. Carefully follow the instructions​ above, and only draw the required objects.