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matrenka [14]
2 years ago
5

MNO Corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. The company base

d its predetermined overhead rate for the current year on the following data: Total estimated direct labor-hours 50,000 Total estimated fixed manufacturing overhead cost $285,000 Estimated variable manufacturing overhead per direct labor-hour $3.80 Recently, Job P123 was completed with the following characteristics: Total actual direct labor-hours 20 Direct materials $710 Direct labor cost $500 The amount of overhead applied to Job P123 is closest to _______________
Business
1 answer:
Alex_Xolod [135]2 years ago
8 0

Answer:

Allocated MOH= $174

Explanation:

Giving the following information:

Total estimated direct labor-hours 50,000 Total estimated fixed manufacturing overhead cost $285,000 Estimated variable manufacturing overhead per direct labor-hour $3.80

Job P123:

Total actual direct labor-hours 20

First, we need to calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (285,000/50,000) + 3.8

Estimated manufacturing overhead rate= $8.7 per direct labor hour.

Now, we can allocate overhead to Job P123:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 8.7*20= $174

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Wildhorse Construction Company had a contract starting April 2021, to construct a $24900000 building that is expected to be comp
jek_recluse [69]

Answer:

The construction in process amount reported at December 2021 is $13,695,000

Explanation:

In this question, we are asked to state the amount the company will report construction in the process of.

Firstly, we calculate the profit = Total contract price - Expected costs of contract = $24,900,000-$22,900,000 = $2,000,000

The profit in percentage of cost is; 2,000,000/22,900,000 = 8.73%

The costs incurred in 2021 is $12,595,000

The proportionate profit = 12,595,000 * 8.73 = $1,100,000

The construction in process at December 2021 = Cost incurred + Proportionate profit = 12,595,000 + 1,100,000 = $13,695,000

3 0
2 years ago
Define and discuss the four common denominators of all organizations, and provide an example for each component. What is the dif
-BARSIC- [3]

Answer: The four common denominator of every organisation is a)common purpose, b) coordinated effort, c)division of labor, d) hierarchy of authority.

Explanation: Every organisation lembodied with these four common denominators:

1) coordination of effort - This is the formulation and enforcement of policies, rules, and regulations achieved through working together in a way that will maximize resources. individuals and groups contribute their effort through diverse skill sets to create value. For example every company consists of different diverse skill set- accountant, manager, clerk, security guard, etc all these people come together to fuse Thier skills in an effective running of any organization.

2)a common goal: This is achieved when every member of an organisation understands it's company's mission, strategy, and values, it tends to bring unity in the organisation and achieve success. For example When a new employee joins a business, he /she would try to fit into the existing culture which is due to a sense of belonging they feel that they will succeed by taking up the behaviors of people whom have had long membership in the culture and worthy of emulation.

3.) division of labor - This occurs when the common goal is pursued by individuals performing discrete parts of a task for greater efficiency for example in a production company Each worker performs a specific task . boosting productivity and efficiency.

4)hierarchy of authority- Also called the chain of command, is a control mechanism which aims to making people do the right things at the all times by enabling them make decisions quickly when necessary. Here order flows from the topmost pyramid of hierarchy to the lowest pyramid m for example

Nicholas receives a report from his Quality control team that a new drug has successfully passed all regulatory tests and is ready for production and sales to the public. Nicholas then sends directions to his head of finance to prepare a budget for financing the manufacturing and marketingof the new drug. He directs his marketing president to develop a marketing plan production manager to develop a production schedule based on the projected budget received from the finance manager.

Each managers will delegate part of their task to their respective department heads who will in turn, delegate some tasks to the members of respective team. Once the task has been completed, the information will flow back up through the hierarchy to Nicholas where it will be assessed and further decisions and directives will be made.

B)

---Open system: An Open system is an adaptive system with porous boundaries which allows exchange of ideas and information whether random or defined with useful feedback . It interacts with its outside environment and thus exchanges information to change thier system with changing conditions in terms of improvement and development. Examples include Hospitals, educational Sectors, Buisness organisation s etc.

--Closed systems, unlike open systems, are not adaptive, or porous. Only very thorough little information is exchanged.

A closed system does not need interactions with its environment and most times isolates from the environment to function effectively. Such systems are very a rare. Examples include the Millitary- army, Monasteries.

4 0
2 years ago
Poor internal compliance with supply processes may indicate that internal customers do not trust the supply process or the suppl
bagirrra123 [75]
That statement is True

Internal Compliance is carried out to ensure that all process are done according to regulated rules and standard

Poor internal compliance could indicate that certain process is not carried out according to standard, which could damage the trust of internal customers
3 0
1 year ago
Jefferson is interested in starting his own business. He plans to borrow money from the local bank in order to finance the busin
almond37 [142]
They will require him to submit a business plan and a financial plan. The correct option among all the options that are given in the question is option "d" or the last option. The financial plan needs to be perfect for the loan to be passed and also for the business to be successful. The local bank needs to understand the way the company will make profit and pay back the loan.
4 0
1 year ago
Read 2 more answers
Agent Martinez wishes to solicit Medicare Advantage prospects through e-mail and asks you for advice as to whether this is possi
stealth61 [152]

Answer:

Marketing representatives may initiate electronic contact through e-mail but an opt-out process must be provided.

Explanation:

Since in the question it is mentioned that the Martinez requested or solicit for medicare advantage prospects via the e-mail so yes it is possible but for that, she have to contact with Marketing representatives or the company reached to her so that he or she can send the prospectus via mail also the opt-out process is also provided

5 0
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