Pricing the original contract

Assignment Help Accounting Basics
Reference no: EM13130120

Calculate the amount of the final price adjustment because of defective pricing based on the Contractor unintentionally overpriced their material costs by $75,000 and under-priced their direct manufacturing labor costs by $50,000. Overhead rates used to price the original contract are:

Material OH 15%

Engineering OH 75%

Manufacturing OH 124%

Lawn Maintenance OH 1.5%

G&A 24%

Reference no: EM13130120

Questions Cloud

Shares of no-par common stock : A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value.
What does it mean for a person to have dignity : What does it mean for a person to have dignity, and is it something that we give away or something that is taken away? Neither? Both? Do you agree with Craig Ewert’s decision? Why or why not? Support your answer beyond only giving an opinion.
Find best action to invest in a particular stock : You would like to invest if the price is likely to rise in the long run. You have data on the daily average price of this stock over the past 12 months. Your best action is to?
What is the nlrb and its relationship to the nlra : what are the elements that an employee must meet to prove discrimination under the NLRA, and what must an employer show to defend against such a claim?
Pricing the original contract : Calculate the amount of the final price adjustment because of defective pricing based on the Contractor unintentionally overpriced their material costs by $75,000 and under-priced their direct manufacturing labor costs by $50,000. Overhead rates u..
Computing percentages : Suppose that a county ordinance requires a 2 1/5% 'fall' for a sewage pipe from the house to the main pipe at the street. How much vertical drop to nearest foot must there be for a horizontal distance of 55 feet.?
How much heat is evolved per gram of fuel burned : 3.5 g of a hydrocarbon fuel is burned in a vessel that contains 250. grams of water initially at 25.00 C. After the combustion, the temperature of the water is 26.55 C.
Per capita cost per police officer : Calculate the per capita cost per police officer. Explain why increased population can result in increased per capita taxes, even though the per-capita cost per police officer declines with population.
Calculate price that you think will make business break even : Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable cost. Calculate the price that you think will make the business break eve..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Why the directors duty to prevent insolvent trading

Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the 'veil of incorporation' being lifted for insolvent trading.

  What issues must you consider in advising amy

In addition, due to a bearish stock market, the value of the entity's investment portfolio has declined 15% from its purchase price. What issues must you consider in advising Amy and the corporate trustee?

  Preparing a four-column bank reconciliation

By preparing a four-column bank reconciliation ("proof of cash") at year-end, an auditor will generally not be able to detect:

  Comprehensive variance analysis-turner corporation

Turner Corporation produces overdrive transmission parts for several small specialty automobile companies. Prior to founding the firm, Benson Turner, the company's president, had an illustrious stock-car-racing career.

  Determine the quantity of spoiled units

Explain the product and the production process. Describe how you would find out the quantity of spoiled units that are normal versus abnormal. Explain how you would determine the cost of good units, normal spoilage and abnormal spoilage.

  Convertible preferred stock dividend

On September 1, 2008, Melissa paid $50,000 for 500 shares of WH Inc. common stock. On October 15, 2010, Melissa received a taxable 10% convertible preferred stock dividend (i.e., 50 shares).

  Budgets for different types of organizations

Please address the differences in creating budgets for the following entities: manufacturing, non-manufacturing, serviced-based business, and not-for-profit organizations.

  Accounting model of business valuation

What does the accounting model of business valuation focus on?

  Determining cost function of firm

Find out the range of outputs for which cost function C(q) = f +cq^2 where c>0 is characterized by

  Problem related to interest expense

Jane's Donut Co. borrowed $200,000 on January 1, 2009, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2011. In connection with this note, what amount should Jane's report as interest expen..

  Problem regarding preferred stockholders

No dividends were paid the previous 2 years. If Koon declares $400,000 of dividends in the current year, how much will preferred stockholders receive if the preferred stock is cumulative?

  Determining fixed assets book value

The balance in the equipment account is $904,000, and the balance in the accumulated depreciation-equipment account is $316,400.

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