Question
In: Accounting
The following budget data are available for Sharp Company:
The following budget data are available for Sharp Company:
Estimated direct labor hours 12,000
Estimated direct labor dollars $90,000
Estimated factory overhead costs $180,000
Actual direct labor hours 11,500
Actual direct labor dollars $92,000
Actual factory overhead costs $181,000
If factory overhead is applied based on direct labor hours, the amount of overhead to be applied is
Formula: Est. OH/Est. DLH-POH Rate; POH Rate x Actual DLH = OH Applied
a. $181,000
b. $184,000
c. $180,000
d. $172,500
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The following data for Hello Company for 2020 is available:
The following data for Hello Company for 2020 is available:Transactions in Common
Shares Jan. 1, 2020, Beginning
number
550,000Apr. 1, 2020, Purchase of treasury
shares
(50,000)July 1, 2020, Stock dividend of
50% Nov. 1, 2020, Issuance of new
shares
250,0004% Cumulative Convertible Preferred Stock10,000 shares, par value is $100, convertible into 150,000
shares ofcommon stock (already adjusted for the stock
dividend).
$1,000,000Stock Options50,000 exercisable at the option price of $10 per share.Average market price in 2020 was $25.(market price and...
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The Light Company manufactures a single product. The following
data is available for 2017:
Selling price………..................................$131
Units in beginning inventory……………….0
Units produced………………………….6,300
Units sold……………………………….5,400
Units in ending inventory………………
900
Variable costs per unit:
Direct
materials…………..
$ 65.00
Direct labor………………..
$ 30.00
Variable manufacturing
overhead $
0.00
Variable
selling/administrative
$ 7.00
Fixed costs:
Fixed manufacturing
overhead:
$75,600
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baseballs) sold by Cano Company, which uses a perpetual inventory
system.
November
1
On hand, 10 units at $2 each
8
Sold, 6 units for $10 each
14
15
Purchased, 30 units at $3 each
Purchased, 10 units at $4 each
25
Sold, 24 units for $10 each
If the company uses the FIFO, LIFO, Weighted Average
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Assume that the following data relative to Eddy Company for 2021
is available:
Net Income for the year : $2,100,000;
On Jan.1,there are 700 ,000 shares of common shares
outstanding
transactions in common shares:
May purchase of 60,000 treasury shares
June stock split 2-1
Nov issuance of 120,000 shares
8% Cumulative Convertible Preferred Stock: $1,000,000,
convertible into 200,000 shares of common stock. (adjusted for
split)
Stock Options: exercisable to 60,000 shares of common stock at
the price of $25 per...
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The following data are available for one of the products sold by
Dahlia Company, which uses a perpetual inventory
system:
Mar.
1
Beginning inventory, 500 units at $4.00 each
7
Purchased 2,000 units at $5.00 each
12
Sold 2,300 units
17
Purchased 1,800 units at $6.00 each
27
Sold 1,900 units
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Dahlia Company, which uses a perpetual inventory system: Mar. 1
Beginning inventory, 500 units at $4.00 each 7 Purchased 2,000
units at $5.00 each 12 Sold 2,300 units 17 Purchased 1,800 units at
$6.00 each 27 Sold 1,900 units 1. Calculate cost of goods sold for
March and the dollar amount of ending inventory on March 31
assuming FIFO is used. 2. Calculate cost of goods sold for...
The following financial data on the Bond Recording Company are available: . The firm is currently considering...
The following financial data on the Bond Recording Company
are available: . The firm is currently considering
whether it should use $450,000 of its earnings to help pay cash
dividends of $1.29 per share or to repurchase stock at$41per
share.
a. Approximately how many shares of stock can the firm
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have gone to pay the cash dividend?
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Q. No. 03 EPS calculations: 1. Following data of ABC & Company is available: a. Sales...
Q. No. 03 EPS calculations:
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a. Sales Revenue Rs. 2,500,000
b. Gross Profit Margin Rs. 80%
c. Operating expenses 30% of GP
d. Depreciation Rs. 60,000
e. Amortization Rs. 30,000
f. Interest Expense Rs. 100,000
g. Tax Rate 35%
h. 10% Preferred Stock, issued 15,000 shares with F.V of Rs. 100
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i. Common Stock, Authorized 100.000 shares and issued shares 30,000
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j. Make...
Assume that the following data relative to Kane Company for 2018 is available: Net Income $2,790,000...
Assume that the following data relative to Kane Company for 2018
is available:
Net Income
$2,790,000
Transactions in Common Shares
Change
Cumulative
Jan. 1, 2018, Beginning number
680,000
Mar. 1, 2018, Purchase of treasury shares
(66,600)
613,400
June 1, 2018, Stock split 2-1
613,400
1,226,800
Nov. 1, 2018, Issuance of shares
234,000
1,460,800
6% Cumulative Convertible Preferred Stock
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Stock Options
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Assume that the following data relative to Kane Company for 2020 is available: Net Income &nbs
Assume that the following data relative to Kane Company for 2020
is available:
Net
Income
$2,100,000
Transactions in Common Shares
Change
Cumulative
Jan. 1, 2020, Beginning number
700,000
Mar. 1, 2020, Purchase of treasury shares
(60,000)
640,000
June 1, 2020, Stock split 2-1
640,000
1,280,000
Nov. 1, 2020, Issuance of shares
120,000
1,400,000
8% Cumulative Convertible Preferred Stock
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(adjusted for split). $1,000,000
Stock Options
Exercisable at the option price...
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