Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Management Expert

Simple Plant manufactures DNA test strips. Manufacturing overhead is applied to units produced using direct labor dollars as the allocation base. The overhead rate is find outd prior to the beginning of the fiscal year that runs January 1 to December 31. Simple Plant has one manufacturing employee, J. Kusic, and one overhead expense besides indirect labor, property taxes. J. Kusic's salary and fringe benefits for next year are forecast to be $50,000> Kusc is expected to work 2,000 hours at a cost of $25 per hour (50,000/2,000). Eighty percent of Kusic's time is budgeted to be direct labor, and the remainder is budgeted to be indirect labor. Property taxes are projected to be $110,000. There was no beginning balance of work in process on January 1.

a) find out Simple Pant's overhead rate for next year.
b) On January 2, the first working day of the new fiscal year, Kusic works eight hours (five hours on mnufacturing test strips and three hours waiting for raw materials to arrive). Each day Simple Plant posts all entries (transactions ) to the accounts. What are the balances in the Overhead account and the Work-in-Process account at the close of business on January 2?
c) At the end of the year, Kusic's salary and benefits are &50,000, with $44,000 of the total charged to test strips manufactured. Kusic worded 2,000 hours during the year. Property taxes paid during the year amounted to $103,000. What, if any, is the balance in the overhead account before an adjusting entry is made to transfer the balance to other accounts?

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M928648

Have any Question? 


Related Questions in Business Management

Assignmentfor this assignment you will investigate a social

Assignment For this assignment, you will investigate a social media public relations (PR) campaign by an organization. Some examples of platforms are LinkedIn, Twitter, Facebook, Google+, Pinterest, and YouTube. The orga ...

Assignmentanswer one of the essay questions located at the

Assignment Answer one of the Essay Questions located at the end of chapters 1-4 in Introduction to Business Law. Answer one question for each chapter. Each fully developed response (250-400 words) should include the foll ...

Reflection paper about violating a folkwayassignment

Reflection Paper about Violating a Folkway Assignment: Application Project For this assignment you will have the opportunity to conduct an experiment, or quasi-experiment, in order to explore deviance in our society. As ...

Assignment business case and proposal for project

Assignment: Business Case and Proposal for Project Selection You work for Centervale Apparel, a large clothing manufacturing firm. Centervale Apparel has budgeted $9.7 million for new technology initiatives in the coming ...

The purpose of an assignment is to ensure that the learner

The purpose of an assignment is to ensure that the Learner is able to: - Use methods of enquiry and research in a disciplined field. - Interpret and evaluate text. - Have a sound understanding of key principles and theor ...

Assume canada is a small open economy that imports some of

Assume Canada is a small open economy that imports some of the grapes it consumes. a) Draw a diagram showing the equilibrium under free trade in grapes b) Show the effects of a $1 per kg tariff on imported grapes. Show t ...

1 give examples of mergers of the vertical horizontal and

1. Give examples of mergers of the vertical, horizontal and conglomerate types. Use your own examples and explain why in each case. In what situations would a merger be a good idea? 2. How are the natural monopolies diff ...

Explain the terms ethical issues business ethics and moral

Explain the terms ethical issues, business ethics, and moral philosophy. essay format but a small paragraph would do. also my professor uses turnitin so do not want any plagiarisms.

1 what do story points represents in an agile project how

1. What do story points represents in an Agile project? How do they aid in project monitoring and control? 2. What might such a spreadsheet look like in helping you predict the project finish date?

Q1 - how can the risks of innovation be addressed andor

Q1 - How can the risks of innovation be addressed and/or managed? Q2 - How can organizational alliances be used to support implementation? Task 1 Write a 400 to 450 word article describing a product development or manage ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro