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

When looking at a business you will find that we are

When looking at a business, you will find that we are focused on how much consumers are willing to spend on each product. We do this through the use of elasticity. What are examples of inelastic products that you have pu ...

What is the deficiency of the solow model with technical

What is the deficiency of the Solow Model with technical progress? How does the endogenous growth model improves on the Solow Model? What are macro and micro-intertia? What are the determinants of micro-intertia?

Assignment business plan this assignment consists of two 2

Assignment : Business Plan This assignment consists of two (2) sections: your final business plan and your business plan financials. Create a final draft. Use any / all feedback you have received to polish your plan to t ...

The marketing strategy for a business can play a major role

The marketing strategy for a business can play a major role in the success or failure of this business. For this assignment, provide a specific and comprehensive discussion about the marketing strategy of a business you ...

Identify four policies the government enacted following the

Identify four policies the government enacted following the financial crisis. Evaluate what effect these policies would have on the economy from both a short-run and a long-run perspective. Be sure to include: -The disti ...

Read the horizon consulting case on pages 97-99 of your

Read the "Horizon Consulting" case on pages 97-99 of your textbook. After reading the case, answer the following questions: How successful was the post-meeting? What factors contributed to the success or failure of the p ...

Demonstrate mastery of positive team management practice -

Demonstrate mastery of positive team management practice - write three pages with two references. Research, critique and discuss this article in the light of our topic.

Discuss the swot technique with respect to at least one

Discuss the SWOT technique with respect to at least one element each that you identified in two of the four quadrants. Explain how this knowledge could be used in the strategic planning process within your selected compa ...

This week we spent a lot of time discussing mass

This week, we spent a lot of time discussing mass incarceration, the war on drugs, and racial inequity. In recent times, a racial justice social movement has emerged directly challenging what Michelle Alexander calls, "T ...

Questionconsider the following normalized relations from a

Question: Consider the following normalized relations from a database in a large retail chain: STORE  ( Store ID,   Region, ManagerID, Square Feet) EMPLOYEE ( EmployeelD .  WhereWork, EmployeeName, EmployeeAddress) DEPAR ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate