Business, 06.06.2020 17:01, kwarwick0915
A company allocates overhead at a rate of 160% of direct labor cost. Actual overhead cost for the current period is $1,020,000, and direct labor cost is $525,000.
a. Determine whether there is over- or underapplied overhead using the T-account.
b. Prepare the entry to close over- or underapplied overhead to cost of goods sold.
Answers: 1
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Business, 22.06.2019 11:40, sriggins1375
Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were:
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Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)
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A company allocates overhead at a rate of 160% of direct labor cost. Actual overhead cost for the cu...
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