Computing annual predetermined overhead rate

Assignment Help Accounting Basics
Reference no: EM13156123

Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $541,000 and the total direct labor would be 33,000 hours. Its actual total manufacturing overhead for the year was $790,000 and its actual total direct labor was 34,000 hours.

Reference no: EM13156123

Questions Cloud

Calculate the minimum concentration of cr3+ : Calculate the minimum concentration of Cr3+ that must be added to 0.095 M NaF in order to initiate a precipitate of chromium(III) fluoride. (For CrF3, Ksp = 6.6 × 10-11.)
Amortization by straight-line method of bond premium : (1) Issuance of bonds. (2) Payment of first semiannual interest on December 31, 2009. (3) Amortization by straight-line method of bond premium on December 31, 2009.
What is the pressure of the air : the barometer at an indoor pool reads 105 kpa. if the temperature in the room is 30 degrees Celsius, what is the pressure of the air
Overlay the pourbaix diagram for water : Draw another diagram overlaying the Pourbaix diagrams for nickel and silver and use this diagram to explain the likely outcome of holding a solution of nickel ions in a silver container.
Computing annual predetermined overhead rate : Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor hours. At the beginning of the year it estimated that its total manufacturing overhead would be $541,000 and the total direct labor would be 33,000 hours..
Identifying potential threats to an information asset : Discuss the process of identifying potential threats to an information asset. How can potential threats be identified? Comment on the usefulness of using established lists for a given industry as well as interviewing experts who have experience de..
Find confidence interval for the mean weight per white mice : The standard deviation of the population is 0.6 ounces. Which of the following is the 95% confidence interval for the mean weight per white mice?
Identify threats associated with outside vendors : Identify threats associated with outside vendors. Use as an example the threats to the information security of a small internet commerce company with 10 employees. In this example, the company uses an outside vendor for its order fulfillment.
Identification-analysis brainstorming sessions and interview : Describe two or three techniques that you would propose to uncover and account for such biases among your project team members and/or experts participating in risk identification and analysis brainstorming sessions and interviews.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Calculate the depreciation for fiscal year

Calculate the depreciation for each fiscal year using the declining-balance method at twice the rate of straight line depreciation.

  What is erin tax preference for excess depletion

Erin owns a mineral property that had a basis of $10,000 at the beginning of the year. The property qualifies for a 15% depletion rate. Gross income from the property was $120,000 and net income before the percentage depletion deduction was $50,00..

  Deviance in public accounting firms

How has public criticism of the Public Accounting Profession contributed to workplace deviance? What solution are there to decrease deviance in public accounting firms? At least 150 words, thanks for your help in this matter.

  Concept related to overall net operating income

What would be the impact on the company's overall net operating income of buying part W28 from the outside supplier?

  Problem related to statistical concept

When using classical variables sampling for estimation, an auditor normally evaluates the sampling results by calculating the possible misstatement in either direction. This statistical concept is known as

  Total and unit cost of finished goods

Find the total and unit cost of finished goods started in prior period and completed in the current period.

  Management regarding tax implications of contribution

Based on 2008 tax laws, if Salem's taxable income before charitable contributions is $11,500,000 in 2009, calculate the charitable contribution allowance for 2009. Provide a recommendation to Salem management regarding tax implications of this con..

  Prepare journal entries for factoring accounts receivable

Prepare all journal entries to record the preceding information. How the accounts related to BBB's factoring and assignment agreements be reported on BBB's year end financial statements

  Divided between common and preferred stock

If the dividends on preferred stock are one year in arrears (in addition to the current year), how will the total dividend be divided between the common and preferred stock?

  Computing the cost of direct labor

Brick Company's direct labor is 30% of it's conversion cost. If the direct materials cost last week was $52,500 and the manufacturing overhead cost was $21,000, compute the cost of direct labor for the week.

  Determining weighted average number of shares

Compute the weighted average number of shares to be used in computing earnings per share for 2007.

  Spending on security analysis

You are an investment manager who is currently managing assets worth $6 billion. You believe that active management of your fund could generate between an additional one tenth of 1% return on the portfolio. If you want to make sure your active str..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd