The actual labor hours for the year turned out to be 41721

Assignment Help Accounting Basics
Reference no: EM13452959

Willow Creek Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor hours for the upcoming year at 38,500 labor hours. The estimated variable manufacturing overhead was $7.37 per labor hour and the estimated total fixed manufacturing overhead was $601,328. The actual labor hours for the year turned out to be 41,721 labor hours.

Required:

Compute the company's predetermined overhead rate for the recently completed year.

Reference no: EM13452959

Questions Cloud

Deduce the expression for inverse demand curve for : the demand function for einstein bagels has been estimated as followsqx -15.87 - 40.73px 84.17py 0.55ax where qx
Based on the given scenario develop a plan of action that : based on the given scenario develop a plan of action that includes how you would conduct the investigation state how
Write down a 250- to 350-word paper describing why : write a 250- to 350-word paper explaining why preferred stock is referred to as preferred and what some of the
Write down the betas of three risky assets assume riskless : consider a market with only the following three risky assetsnbspnbspexpected return per monthnbsprisk nbspcovariance
The actual labor hours for the year turned out to be 41721 : willow creek corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. at
Describe the range and availability of mutual funds between : 1. what is a mutual fund? explain in detail noting any differences in practice between saudi arabia and the united
Include a summary of findings and a recommendation for : select an assessment from chemical dependency a systems approach with faculty approval and administer the instrument to
What is the rate of interest on a loan of 1500 for 202 : what is the rate of interest on a loan of 1500 for 202 days if the amount of interest in 74.71 using the exact interest
Evaluate the value of tvc for salesoutput level 250000 : over the past 12 months the four winds novelty company firm has recorded its internet sales equals monthly output

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which of the following items might give an mnc with a

which of the following items might provide an mnc with a tax-planning opportunity as it decides where to locate a

  Benskin corporations capital structure consists of 600000

benskin corporations capital structure consists of 600000 of assets and 325000 of liabilities. the average interest

  Calculate the profitability ratios

Calculate the profitability ratios that can be computed from the above information.

  Why would you select the percentage of sales method

Why would you select the percentage of sales method for calculating doubtful accounts instead of the percentage of receivables method?

  Book vaule of the equipment

On January 1, 2010 M. Johnson Company purchased equipment for $30,000. The company is depreciating the equipment at the rate of $500 per month. The book vaule of the equipment at December is?

  Raw materials inventory account problem

The Raw Materials Inventory account is 1. debited for purchase discounts taken. 2. debited for invoice costs and freight costs chargeable to the purchaser.

  First withdrawal at year-end

Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately?

  Equal total payments of accrued interest

American Eagle borrows $90,000 cash by signing a four-year, 5% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2009?

  Walgreens accounting policies

Explain the meaning of the increase or decrease in the LIFO reserve during the 2010. What does this tell you about inventory costs for the company? Are they rising or falling? Explain.

  Theoretical cycle time per unit in minutes

A manufacturing cell has the theoretical capability of producing 40,000 microchips per quarter. The conversion cost per quarter is $90,000. There are 16,000 production hours available within the cell per quarter. The theoretical cycle time per uni..

  Balance sheet of a manufacturer

Which of the following would not be found on the Balance Sheet of a manufacturer?

  Determine the correct amount of net income

Determine the correct amount of net income for October and thetotal assets, liabilities, and stockholders' equity atOctober 31. In addition to indicating the corrected amounts.

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