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For 2010, Omaha Mechanical has a monthly overhead cost formula of $42,900 + $6 per direct labor hour. The firm's 2010 expected annual capacity is 78,000 direct labor hours, to be incurred evenly each month. Making one unit of the companys product requires 1.5 direct labor hours.
1) Determine the total overhead to be applied per unit of product in 2010.
2) Prepare journal entries to record the application of overhead to Work in Process Inventory and the incurrence of $128,550 of actual overhead in January 2010, when 6,390 direct labor hours were worked.
3) Given the actual direct labor hours in part (2) how many units would you have expected to be produced in January?
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When both borrowed an owned funds are mingled int he same account for purposes of categorizing interest expense a repayment of the debt is allocated first to?
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The SEC has always wanted and expected more information and disclosure in the financial statements.
Frozen Delight, Inc. charges an initial franchise fee of $75,000 for the right to operate as a franchisee of Frozen Delight. Of this amount, $25,000 is collected immediately.
During 2010, Durham Manufacturing expected to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost.
A foreign currency transaction gain will be recognized by a U.S. company when it has a receivable from a foreign company
Determine the amount of the bundled product sell price that should be allocated to each individual software item using the incremental method with individual sales items ranked as follows: (1) word processing (2) spreadsheet (3) accounting.
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