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Harris Fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 33,000 direct labor-hours would be required for the period’s estimated level of production. The company also estimated $586,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $2.00 per direct labor-hour. Harris's actual manufacturing overhead for the year was $715,479 and its actual total direct labor was 33,500 hours. Required: Compute the company's predetermined overhead rate for the year. (Round your answer to 2 decimal places.)
Which incentives do managers have to act in the stockholder's interest? Name two and explain each in one or two sentences.
Estimate the amount of Uncollectible Accounts as of December 31, 20X2 and what is the company's Uncollectible Accounts expense for 20X2 - compute the net realizable value of Accounts Receivable at the end of 20X1 and 20X2.
Calculate the flexed and actual budget and calculate the variances - Sales variances, volume and price and direct material variances, usage and price
A company that produces a single product had a net operating income of $75,000 using variable costing and a net operating income of $95,000 using absorption costing. Total fixed manufacturing overhead was $50,000 and production was 10,000 units both ..
Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). The practice is divided into three departments: auditing, tax, and consulting. Prepare the service revenue (sales) budget for 2017 by listing the de..
Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent,
Lefler Company is considering purchasing equipment. The equipment will produce semi-annual cash inflows of $22,000 for 3 years. Lefler requires a minimum annual rate of return of 8%. Assuming that the cash inflows are received at the end of each six-..
Were GE and Boeing bonds issued at a premium or a discount and explain how bonds, both paying the same contractual interest rate, could be issued at different prices.
journals and petty cash payments report.inuke gallery had the following petty cash transactions in february of the
The CFO thinks the WACC should be based on market value weights, but the president thinks book weights are more appropriate. Illustrate what is the difference between these two WACCs?
SunPower Corp. slumped after the second-biggest U.S. solar manufacturer scrapped a target to at least break even this year, in part because of challenging conditions in its power-plant business. What caused the stock price of the company (sunpower co..
Prepare the July income statement for Wrecker Ronnie. Assume that Wrecker Ronnie uses the perpetual inventory method. Find out the invenotry balances at the end of the first month of operations.
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