Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Unadjusted Ending Balance in the manufacturing overhead account? 9) Neptune Fabrication Plant has provided you with the following information: Total manufacturing overhead costs estimated at

Unadjusted Ending Balance in the manufacturing overhead account?

image text in transcribed
9) Neptune Fabrication Plant has provided you with the following information: Total manufacturing overhead costs estimated at the beginning of the year $252,000 Total direct labor costs estimated at the beginning of the year $129,000 Total direct labor hours estimated at the beginning of the year 5,250 direct labor hours Actual manufacturing overhead costs for the year $242,000 Actual direct labor costs for the year $134,000 Actual direct labor hours for the year 4,800 direct labor hours The company bases its manufacturing overhead allocation on direct labor hours. What was the unadjusted ending balance in the Manufacturing Overhead account? 10) Mira Financial Advisors provides accounting and finance assistance to customers in the retail business. Mira has four professionals on staff, plus an office with six clerical staff. Total compensation, including benefits, for the professional staff runs about $753,000 per year, and it normally has about 8,300 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $575,000. Mira allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Mira's professionals spent 38 hours on their client, Riley Sales. Mira adds a 25% markup on its costs to calculate the amount billed to the customer. How much should the company charge Riley Sales for the month of July? (Round your intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Integrated Accounting For Windows

Authors: Dale Klooster

7th Edition

0538747978, 9780538747974

More Books

Students also viewed these Accounting questions

Question

Find the path and sketch it. z(t) = 1 + i + e -it (0 t 2)

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago