Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Management Expert

Simple Plant produces DNA test strips. Manufacturing overhead is applied to units produced by using direct labor dollars as allocation base. Overhead rate is computed prior to beginning of fiscal year which 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 predict to be $50,000> Kusc is expected to work 2,000 hours at cost of $25 per hour (50,000/2,000). 80 % of Kusic's time is budgeted to be direct labor, and 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) Compute Simple Pant's overhead rate for next year.

b) On January 2, first working day of 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 accounts. prepare down the balances in Overhead account and Work-in-Process account at close of business on January 2?

c) At the end of year, Kusic's salary and benefits are &50,000, with $44,000 of total charged to test strips manufactured. Kusic worded 2,000 hours in the year. Property taxes paid in the year amounted to $103,000. What, if any, is balance in overhead account before adjusting entry is made to transfer balance to other accounts?

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M930903

Have any Question? 


Related Questions in Business Management

Using your local telephone directory locate a service that

Using your local telephone directory, locate a service that offers background checks. Select one at random and call to determine the costs of conducting such checks. How much should an organization spend on conducting th ...

What is the velocityin ftsof a sandbag 025 s after it is

What is the velocity(in ft/s)of a sandbag 0.25 s after it is released from a hot-air balloon that is stationary in the air?

Writenbspa 750- to 1050-word paper that applies at least

Write  a 750- to 1,050-word paper that applies at least two interpersonal theories and one intrapersonal theory to your personal and/or professional life. For each theory you discuss, provide one example of how you have ...

What are the advantages and disadvantages of contracting

What are the advantages and disadvantages of contracting out certain services that had been provided by the government? Please be specific.

Question 1select one of the ethical scenarios listed below

QUESTION 1: Select one of the ethical scenarios listed below: A company uses patient DNA for research without the patient's knowledge or consent A nonprofit organization sells fetal tissue for research Management invites ...

Section financial positionanalyze the statement of

Section: Financial Position Analyze the statement of financial position of Yahoo for 2013 and comment on whether the company has a weak or strong balance sheet. What are the most significant changes in the position of Ya ...

Read an article or two about different type of conflict at

Read an article or two about different type of conflict at a workplace and give your opinion on what you think about them. Glaring example should be taken from your experience on such conflicts. Your standard is importan ...

Assume that the demand for real money balance mp is

Assume that the demand for real money balance (M/P) is M/P=0.6Y-100i, where Y is national income and i is the nominal interest rate (in percent). The real interest rate r is fixed at 3 percent by the investment and savin ...

What is the principal difference between content and

What is the principal difference between content and process motivational theories? As best you, compare and contrast a leading content theorist with a leading process theorist. Be sure to clearly identify which is which ...

Knowing the public keys to the rsa public-key encryption

Knowing the public keys to the RSA public-key encryption are n = 77 and e = 7, what are the private keys.

  • 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