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Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company's operations. Standard Custom Direct labor costs $53,500 $116,000 Machine hours 1,430 1,470 Setup hours 100 380 Total estimated overhead costs are $298,600. Overhead cost allocated to the machining activity cost pool is $196,100, and $102,500 is allocated to the machine setup activity cost pool.(a)Compute the overhead rate using the traditional (plantwide) approach. (Round answers to 2 decimal places, e.g. 12.25%.)Predetermined overhead rate % of direct labor cost
(b) Compute the overhead rates using the activity-based costing approach.
(c) Determine the difference in allocation between the two approaches.
Discuss the similarities and differences between the indicators of finance leases under IFRS and the criteria for capitalizing leases under U.S. GAAP.
the following selected accounts appear in the adjusted trial balance columns of the worksheet for goulet
Conduct an analysis of recent article and provide their evaluation and outcome expectations in written paper of 1500-2500 words that discusses:
If a calculator will sell for $42 each, the Variable Costs to produce it are $24 per unit, and the Fixed Costs per month are $39,600, then how many calculators must be sold per month to Break Even?
Assume20% of all sales are cash sales; remaining 80% are sales on account. Calculate the estimated cash from all sources for March.
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Each unit requires 20 minutes of direct labor. If 13,200 units were produced, what was the fixed overhead spending variance?
Hemingway, Inc. applies factory overhead based on direct labor costs. The company incurred the following costs during 2011: direct materials costs, $650,000; direct labor costs, $3 million; and factory overhead costs applied, $1,800,000.
Orange Ltd. Withheld from its employees" paychecks $200,000 in Federal income and Social Security taxes for the May 29 payroll. It then spent the $200,000 on equipment upgrades, missing altogether the May 31 due date for the tax remittances. How m..
How could the foreign competitors profitably sell a similar product for less than manufacturing costs to Houston Electronic?
Hess Co. manufactures a product that sells for $12 per unit. Total fixed costs are $96,000 and variable costs are $7 per unit. Hess can buy a newer production machine that will increase total fixed costs by $22,800 but variable costs will be decre..
What is the rebate expense and liability, respectively, shown on the 2007 financial statements dated December 31?
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