Tech Solutions computes its predetermined overhead rate annually based on direct labor-hours. At the beginning of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tech Solutions computes its predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 80,000 direct labor-hours would be required for the period's estimated level of client service. The' company also estimated $680,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $692,000 and its actual total direct labor was 83,000 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available for this job: Direct materials Direct labor cost Direct labor-hours worked $ 38,000 $ 21,000 280 Compute the total job cost for Xavier Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the predetermined overhead rate. Note: Round your answer to 2 decimal places. Predetermined overhead rate per DLH Tech Solutions computes its predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 80,000 direct labor-hours would be required for the period's estimated level of client service. The' company also estimated $680,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $692,000 and its actual total direct labor was 83,000 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available for this job: Direct materials Direct labor cost Direct labor-hours worked $ 38,000 $ 21,000 280 Compute the total job cost for Xavier Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the predetermined overhead rate. Note: Round your answer to 2 decimal places. Predetermined overhead rate per DLH
Expert Answer:
Answer rating: 100% (QA)
Based on the image you sent which appears to be a costvolumeprofit CVP graph I can answer the following questions 1 What is the contribution margin pe... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
in the event of an interrution of earings for a bi-weekly pay period, an electronic record of employment must be used within five business days aftr the interruption of earnings five business days...
-
Question 1: Explain the three different competitive business strategies, provide three (3) advantages and three (3) disadvantages, as well as an example of a business using one of the particular...
-
Each course at college x is worth either 2 or 3 credits. The members of the men's swim team are taking a total of 53 courses that are worth a total of 121 credits. How many 2 credit courses and how...
-
Which of the following is not a suggested procedure to establish internal control over cash disbursements? The bank statement is reconciled monthly. Anyone can sign the checks. Blank checks are...
-
Use the result of Exercise 14 to verify Eq. (4.34); that is, show that for all k, a5 (-(-)>9] 24-2 1 ATA RE- h-1 RE1 i-1
-
Find the center of mass of a homogeneous solid hemisphere of radius R and mass M.
-
Reinhardt Company reported revenues of \(\$ 122,000\) and expenses of \(\$ 83,000\) on its 2018 statement of earnings. In addition, Reinhardt declared \(\$ 4,000\) of dividends during 2018. On...
-
Items a through l represent possible errors and fraud that you suspect may be present at Rex Company. The accompanying List of Auditing Procedures represents procedures that the auditor would...
-
Ms . Ray is age 4 6 and single. This year, Ms . Ray's retirement savings included a $ 2 , 7 2 0 employer contribution to a qualified profit - sharing plan account, and a contribution by Ms . Ray to a...
-
An Internal Service Fund established by a county is intended to operate on a breakeven basis. How might a government dispose of increases or decreases in net position remaining at year end?
-
Xiaomi Inc. is the worlds 3 rd largest smartphone maker and is headquartered in Beijing, China. Xiaomi employs a very different strategy from other smartphone makers like Apple and Samsung. Xiaomi...
-
Trace the flow chart. Show all value changes. Start count = 15 count > 4 True myString = "C" (count/3) count=count - 2 count % 3 == 1 True = myString myString + "D" False False Finish
-
How do leisure, recreation, and tourism differ from one another and how are they interconnected? Give specific examples to illustrate your understanding of these concepts. Additionally, discuss the...
-
We often hear about the problems which surface as a result of underpaying employees, yet overpaying employees can create serious problems as well. This case suggests that organizations may find it...
-
The small cart of mass m is nudged with negligible velocity from its horizontal position at A onto the parabolic path, which lies in a vertical plane. Neglect friction and show that the cart...
-
Determine the materials and labor variances GRAPHICALLY and BY FORMULA Pre pare the flexible overhead budget Determine the overhead variances using the two-way method. Silva Plastics Company has...
-
Appendix G Worksheet: Online Use Future Value and Present Value Tables 1. Cathy Lumbattis inherited $140,000 from an aunt. If Cathy decides not to spend her inheritance but to leave the money in h...
-
ABC company leased new advanced computer equipment to STU Ltd on 1 January 2019.STULtd has to pay annual rental of $290,000 starting at 1 January 2019. It is a four years lease with ultimate rental...
-
Effects of FIFO and Weighted Average} Sheepskin Company sells to colleges and universities a special paper that is used for diplomas. Sheepskin typically makes one purchase of the special paper each...
-
Examine the cash flow measures in requirement 2 of the review problem in this chapter. Discuss the meaning of these ratios. Computing Cash Flows from Operating Activities: Indirect Method
-
During 20x7, Arizona Company issued $500,000 in long-term bonds at 96, repaid $75,000 of bonds at face value, paid interest of $40,000, and paid dividends of $25,000. Prepare the cash flows from the...
Study smarter with the SolutionInn App