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Mitchell' s Softball Gloves Company estimated the following at the beginning of the year: Assembly Department Testing Department Total Overhead $570,000 $130,000 $700,000 Direct Labor Hours 142,500 32,500 175,000 Machine Hours 32,000 65,000 97,000 Mitchell uses departmental overhead rates. In the assembly department, direct labor hours are used to apply overhead. Machine hours are used to apply overhead in the testing department. Actual data for August is as follows: Assembly Department Testing Department Total Overhead $42,000 $12,000 $54,000 Direct Labor Hours 13,500 2,430 15,930 Machine Hours 4,020 11,000 15,020 Using Departmental overhead rates, which of the following is correct? Answer Applied overhead for the assembly department is $54,000 Applied overhead for the testing department is $4,860. Applied overhead for both departments combined is $63,720 Overhead for the assembly department is underapplied. none of these
What is Omega's taxable income for the current year, assuming qualified production activities income is $20,000?
Finney Company began the year by issuing $20,000 of common stock for cash. The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000. What was Finney's net income for the year?
1. zanny electronics companyuses a standard cost system to collect costs related to the production of its water ski
in the month of june angelas beauty salon gave 3500 haircuts shampoos and permanents at an average price of 30. during
Compute the total, price, and quantity variances for materials - Benjamin Company purchased
during the first week in November, Erin Mills worked 451/2 hours and produced 1,275 units under a piece-rate system. The regular piece rate is $0.35 a unit.
EBV is considering a $5M Series A investment in Newco. EBV proposes to structure the investment as 6M shares of convertible preferred stock.
forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the
treetop corp. makes irrigation sprinkler systems for tree nurseries. ramsey roe treetops new controller can find only
Historic cost should be replaced by an alternative measurement base in order to make financial statement more useful. Critically discuss this statement, concluding with whether or not you agree with it.
pooria corp just completed another successful year as indicated by the following income.nbspnbspnbspnbspnbsp for the
The representatives are paid no salary, but they receive 20 percent of the sales price of every boat sold, and they have the authority to negotiate the boats' prices as far down as their wholesale cost if necessary. Is this plan in the dealership'..
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