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. Assume a manufacturer incurs 2,000,000 hours of direct productive labor in a year at a total direct labor cost of $50,000,000. The total manufacturing indirect expense for the same period is $67,500,000.a. What is the average direct labor hour rate?b. If the overhead were distributed on the basis of direct labor hours, what would the rate be per hour?c. If the overhead were distributed on the basis of direct labor dollars, what would the percentage rate be?2. Using the same factors as above, assume that we have two projects each requiring 100,000 direct labor hours. On Project A, because of work requirements and personnel assigned, direct labor costs of $2,040,000, or $20.40 per hour, were experienced. Project B, on the other hand, requires a direct labor cost of $2,800,000, or $28.00 per hour. Calculate the amount of overhead that would be allocated to these two projects on a labor hour and a dollar basis.Direct Labor Direct LaborHour Method Dollar MethodProject A $_____________ $____________Project B $_____________ $____________
January 1, 2010, Sands Company had Accounts Receivable $55,000 and Allowance for Doubtful Accounts $4,400. Sands Company prepares financial statements annually and uses a perpetual inventory system. During the year the following selected transacti..
Assume that you must make a presentation to the marketing staff explaining the difference between product and period costs. Your supervisor tells you the marketing staff would also like clarification regarding prime and conversion costs.
Prepare a system flowchart, following good flowcharting practices including annotations, documenting the GCO system as described above. Use VISIO or another flowcharting tool of your choice.
A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.
select two components of internal control. Explain how the role of internal and external audit would differ in assessing these components.
CPAs attest to management assertions by reference to pre-established criteria. What criteria are used to judge the fairness of financial statements during a financial statement audit? Why is it important that the attest function references specifi..
The economic life of the software is estimated at four years. 2012 amortization of the software development costs would be:
on April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a salvage value of $5,000, and a useful life 10 years.
The new management of YC Inc. has increased the amount of their year-end liability-expense accruals by over 35% compared to recent years, primarily in recording estimated future warranty expenses. The most likely reason for this action is to:
How are bad debts accounted for under the direct write-off method? What are the advantages and disadvantages of this method?
If the accounts receivable balance at December 31 was $350,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2012?
A fire totally destroyed office equipment and furniture which Monica uses in her business. The equipment had an adjusted basis of $15,000 and a FMV of $10,000 before the fire.
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