# 5) Ryans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: 16 POINTS Total machine-hours 10,000 Total fixed manufacturing overhead cost \$71,000 Variable manufacturing overhead per machine-hour \$2.50 Recently Job P512 was completed with the following characteristics: Number of units in the job 30 Total machine-hours 60 Direct materials \$870 Direct labor cost \$2,400 Required: a. Calculate the predetermined overhead rate for the year. b. Calculate the amount of overhead applied to Job P512. c. Calculate the total job cost for Job P512. d. Calculate the unit product cost for Job P512

Instructions are listed below

Explanation:

Giving the following information:

The company based its predetermined overhead rate for the current year on the following data:

Total machine-hours 10,000

Total fixed manufacturing overhead cost \$71,000

Variable manufacturing overhead per machine-hour \$2.50

Recently Job P512:

Number of units in the job 30

Total machine-hours 60

Direct materials \$870

Direct labor cost \$2,400

A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base= (71000/10000)+2.5= \$9.6 per machine hour

B) Allocated overhead= 9.6*60 hours= \$576

C) Total cost= 870+2400+576= \$3846

D) Unitary cost= 3846/30= \$128.2

## Related Questions

One way to change your thinking about success and failure is to focus on habits.
True or False

I would answer false, because it really depends on the person, if your habits lead to trouble or cause you to always get stuck because of a fork in the road, then what’s the point of relying and focusing on them. That’s when you know you should change them. On the other hand, if your habits are positive and make you think more positively to able to be successful, then by all means, rely on them :) I hope this helps

Yulan, Inc has beginning Retained Earnings of \$33,000, ending Retained Earnings of \$38,500, and net income of \$20,500. What was the amount of dividends declared during the year?

\$15,000

Explanation:

The retained earnings account balance changes as a result of the payment of dividend and the addition of the income or loss for the year.

Given that

Beginning Retained Earnings = \$33,000

Ending Retained Earnings = \$38,500, and

net income = \$20,500

\$33,000 + \$20,500 - dividend declared = \$38,500

dividend declared = \$33,000 + \$20,500 - \$38,500

= \$15,000

During their first year, Austin and Associates bought \$32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable. What adjusting entry would Austin and Associates make if \$8,000 worth of supplies were on hand at year-end?

The adjusting entry that Austin and Associates would make is a Debit to  Supplies Expense ( \$24,000) and Credit to Supplies (\$24,000)/

The amount of \$8000  is the supplies available, out of \$32,000.

Supplies expense period will be = \$32,000  - \$8000

supplies expense = \$24000

Accounts title                            Debit         Credit

Supplies expense                     \$24,000

Supplies                                                   \$24,000

In conclusion, the adjusting entry that Austin and Associates would make is a Debit to  Supplies Expense ( \$24,000) and Credit to Supplies (\$24,000)/

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Supplies Expense  = \$24,000

Supplies  = \$24,000

Explanation:

given data

bought for CPA firm = \$32,000

supplies on hand = \$8,000

solution

we know here that when \$8000 supplies available out of \$32,000

so supplier during period will be = \$32,000  - \$8000

supplies expense = \$24000

and that is express as

Accounts title                            Debit              Credit

Supplies expense                     \$24,000

Supplies                                                             \$24,000

Nearly all organizations should be viewed as open systems that interact with their environments and depend on them for survival a. True
b. False

b. False. Not all organizations should be viewed as open systems that interact with their environments and depend on them for survival.

Explanation:

Organizational management is crucial to steer the firm in a direction that is beneficial to the company itself and to the environment. There are two major types of organizational systems; open systems and closed systems.

1. Open systems

Open and closed systems are theories that were originally borrowed from the field of biology and later applied in business management. They have proved worthwhile in the field of business. Open systems are organizational systems where the interaction between the business and the environment is free: the sharing of inputs, information and resources. This is because most resources are usually shared between the business and the environment. It can be though of us the company sends out information and based on the feedback from the environment, it adjusts itself accordingly.

The environment in this case are external influences outside the business that can affect the organization.

2. Closed systems

Closed systems are completely isolated systems where the organization is completely cut of from the environment. This means that interaction between the organization and any outside influence is not allowed.

The choice of which kind of organizational technique to be adopted depends on the organization. Each organization have their specific needs.

Which principle of design is used to modify the shape of a design

Explanation:

Edmentum

Principles applied to the elements of design that bring them together into one design. How one applies these principles determines how successful a design may be

Which of the following terms is a general description for a group of crimes? 1.robbery
2.larceny
3.burglary
4.theft

The term "theft" is a general description of a group of crimes that involve taking or attempting to take someone else's property without their permission. The correct option is 4.

What is a description of a crime?

A crime is any intentional act that violates the law, results in bodily harm or psychological distress, property loss or damage, or both. Each person will at some point in their life experience one of the many various forms of crimes that exist. People of all ages, places, and origins are affected by crime.

Robbery is a type of theft that involves using force or the threat of force to take someone's property, while larceny is a type of theft that involves taking someone's property without using force. Burglary is also a type of theft that involves entering someone's property with the intent to steal. Therefore, all of these crimes are specific types of theft.

Thus, the ideal selection is option 4.

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#SPJ2

Which of the following terms is a general description for a group of crimes?

A) Robbery

B) Larceny

C) Burglary

D) Theft

Jonah deposited \$500 in a savings account, which pays 2.5 percent interest. If he keeps it in the account for 3 and a half years, how much interest will he earn?

\$43.75

Explanation:

Data provided in the question:

Amount deposited in the savings account = \$500

Rate of Interest paid by the savings account = 2.5% = 0.025

Time  = 3.5 years

Now,

Using the simple interest formula,

The amount of Interest  = Principle × Rate × Time

or

The amount of Interest = \$500 × 0.025 × 3.5

or

The amount of Interest = \$43.75

A company is planning to purchase a machine that will cost \$26,400 with a six-year life and no salvage value. The company uses straight-line depreciation. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine? Sales \$ 93,000 Costs: Manufacturing \$ 50,000 Depreciation on machine 4,400 Selling and administrative expenses 33,000 (87,400 ) Income before taxes \$ 5,600 Income tax (40%) (2,240 ) Net income \$ 3,360

21.2%

Explanation:

The formula to compute the accounting rate of return is shown below:

= Annual accounting profit ÷ average investment

where,

Annual accounting profit is \$5,600

And, the average investment would be  \$26,400

Now put these values to the above formula

So, the rate would equal to

= \$5,600 ÷ \$26,400

= 21.2%

we simply divide the annual accounting profit by the average investment so that correct accounting rate of return can come

you are applying to a job after reading the listing on a job board website.The listing requests that applicants emails a copy of their resume to the company's recruiter.What's the best way to send your resume?