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Problem - XYZ Company has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate (POHR) in each department. The Machining Department's POHR is based on machine-hours (Mhrs) and the Customizing Department's POHR is based on direct labor-hours (DLH). At the beginning of the current year, the company estimated the following yearly Mhrs and DLH to be used in each department: 20,000 Mhrs and 15,000 DLH in the Marching Department; 10,000 Mhrs and 25,000 DLH in the Customizing Department. The company also estimated the yearly total manufacturing overhead cost in each department: OMR150,000 in the Machining Department and OMR100,000 in the Customizing Department. During the year, Job XY incurred the following number of hours in each department: 46 Mhrs and 30 DLH in the Machining Department; and 80 Mhrs and 50 DLH in the Customizing Department. What is the total amount of manufacturing overhead that should be applied to Job XY during the year?
Prepare the Journal entries related to the disposal of Machine A and B on January
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The current week and Dan's year-to-date earnings before this week were $6,800, what is the total payroll taxes related to the current week?
What potential audit procedures could the team consider to evaluate management's revenue recognition policies
Consider each change to the monetary inputs (the purchase cost, the selling price, and the salvage price) one at a time in Example 12.6. For each such change, either up or down, describe how the cost of understocking and the cost of overstocking c..
Anthony and Latrisha are married and have two sons, James, age 25 and Jonas, age 13. Both sons are properly claimed as dependents. Anthony and Latrisha's marginal tax rate is 25% in the current year and they file a joint return. Both James and Jon..
Michael's employer provides a health insurance benefit with a market value of $6,000. What is Michael's tax liability for the health insurance benefit
Farm Fresh, Inc., supplies sweet peas to canners located throughout the Mississippi River Valley. Like some grain and commodity markets, the market for sweet peas is perfectly competitive. The company's total and marginal costs per ton are given b..
Compute the fixed portion of the predetermined overhead rate for the year
Using the following figure, suppose that a change in fiscal policy shifts AD from AD(1) to AD(2). Which response would be most likely to cause that shift?
A variable rate demand loan showed an initial balance of $12 000, payments of $5000 after 18 months, What was the size of the final payment
In May, $232,500 of overhead was incurred in working 31,500 hours when 32,000 standard hours were allowed. The overhead volume variance is
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