1b only

predetermined overhead rate =38%

2.

Social Media, Inc (SMI) has two services for users. Toot), which connects tutors with students who are looking for tutoring services, and Tix, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Users Revenues Engineering hours Engineering cost Administrative costs Toot! 14,300 $ 1,900,000 12,800 $ 310,000 Tix 21,100 $1,640,000 8,809 $ 430,000 Total 35,400 $ 3,540,000 21,600 $ 740,000 $ 1,345,200 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the revenue to allocate administrative costs b. Based on the rates computed in requirement (a), what is the profit for each service? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Based on the rates computed in requirement (a), what is the profit for each service? Old Tyme Soda produces one flavor of a popular local soft drink. It had no work in process on October 31 in its only inventory account During November, Old Tyme started 10,100 barrels Work in process on November 30 is 1,250 barrels. The production supervisor estimates that the ending work in process inventory is 20 percent complete An examination of Old Tyme's accounting records shows direct material costs of $16.410 and conversion costs of $20,900 for November. All production is sold as it is produced Required: a. Compute cost of goods sold for November b. What is the value of work-in-process inventory on November 30? c. The president tells the controller that stock analysts expect higher income for the month and asks the controller to change the production manager's estimate about the ending work in process inventory (1) If the controller wanted to comply with the president's request, would he raise or lower the estimated percentage complete from the 20 percent estimate of the production supervisor? (2) What should the controller do? Complete this question by entering your answers in the tabs below. Reg A Reg B Reg Ci Reg C2 Compute cost of goods sold for November. (Do not round intermediate calculations.) Cost of goods sold RedB