Why should you avoid the use of sarcasm , cliches, and idioms in business letters?

Leelanau Corporation uses a job-order costing system. The following data are for last year: Work in process beginning balance $

ratelena [41]

Answer:

The correct answer is $138,500.

Explanation:

According to the scenario, the given data are as follows:

WIP beginning = $10,500

WIP ending = $19,000

Cost of goods manufactured = $323,000

Direct material = $115,000

Direct labor = $78,000

So, we can calculate the amount of overhead by using following formula:

Overheads = Total manufacturing costs - Direct materials - Direct labor

Where, Total manufacturing cost = Cost of goods manufactured + Ending WIP - Beginning WIP

= $323,000 + $19,000 - $10,500

= $331,500

So, by putting the value in the formula:

Overheads = $331,500 - $115,000 - $78,000

= $138,500

Hence, the amount of overhead is $138,500.

3 0

1 year ago

What types of information does managerial accounting provide? (Check all that apply.) Financial Information for internal decisio

jek_recluse [69]

Answer:

Financial and non-financial information for internal decision makers.

Explanation:

Managerial accounting is related to the information that is used for the management of the organization and its information is not widely used for external users. It is almost used by the internal decision makers. The information mostly relates to the effective running of its operations and control mechanism implications.

8 0

2 years ago

Hensely Company, which produces and sells a small digital clock, bases its pricing strategy on a 25 percent markup on the total

Romashka-Z-Leto [24]

Answer:

<u>Contribution margin income statement for the special order-8,000</u>

Sales (8,000× $12) 96,000

Less Variable Costs ($ 240,000/25,000×8,000) (76,800)

Contribution 19,200

Less Fixed Costs 0

Net Income 19,200

The special order results in an incremental income of $19,200, therefore Hensely should accept the special order.

Explanation:

The Fixed Costs are irrelevant for this decision since Hensely has excess capacity and incurrs the expense whether or not the special order is accepted.

<u>Contribution margin income statement for the special order-8,000</u>

Sales (8,000× $12) 96,000

Less Variable Costs ($ 240,000/25,000×8,000) (76,800)

Contribution 19,200

Less Fixed Costs 0

Net Income 19,200

The special order results in an incremental income of 19,200, therefore Hensely should accept the special order

5 0

2 years ago

The General Fund levies property taxes in the amount of $1,000,000 for calendar year 2019. It expects to collect $950,000 during

Musya8 [376]

Answer:

Under the accrual basis, it should recognize $1,000,000 as property tax revenue for the year 2019. The remaining $45,000 that it does not collect in year 2019 will be accounted for as Property Tax Receivable while the $5,000 will be recorded as Uncollectible Expense in 2019.

Explanation:

The accrual concept or basis of accounting requires that all revenues and expenses relating to a fiscal year be recognized in that accounting year. It is not only the actual cash receipts and payments that should be recognized. This means that any revenue that is due but not yet received will be accounted for in the year that the revenue arises. And all the related expenses for raising the revenue will also be accounted for in the same year.

8 0

2 years ago

Hedge Fun is a landscaping firm that specializes in topiary. It contracts with the owners of 125 local homes and provides its se

tekilochka [14]

Answer:

Break-even level of output = 56

Explanation:

Given:

Annual Revenue = $1,300

Total Fixed cost = $28,000

Variable cost = $800

Computation of contribution:

Contribution = Sales - Variable cost

Contribution = Revenue - Variable cost

Contribution = $1,300 - $800

Contribution = $500

Computation of Break-even level of output:

Break-even level of output = Total Fixed cost / Contribution

Break-even level of output = $28,000 / $500

Break-even level of output = 56

3 0

2 years ago