what are the purpose of the information in Management?​

Answers

Answer 1

Answer:

The purpose of information management is to: design, develop, manage, and use information with insight and innovation. support decision making and create value for individuals, organizations, communities, and societies.

Answer 2

Answer:

It helps dictate how businesses form strategies, and implement processes based on them.


Related Questions

who is the cm of korea​

Answers

Kim boo-kyum is cm ko korea

Answer:

kim book kyum is the cm of korea

Explanation:

hope it helps!!

Item 2 On July 1 of the current calendar year, Plum Co. paid $8,000 cash for management services to be performed over a two-year period beginning July 1. Plum follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31 of the current year for Plum would include:

Answers

Answer:

- July 1st -  December 31st (6 months)

- Here, $8,000 is paid for 2 years (24 months)

So, expenses for 6 month = $8,000 * 6/24 = $2,000

Date  Journal Entry                   Debit    Credit

          Expense                         $2,000

                 Prepaid expense                   $2,000

          (To record the expense)

Suppose Siam Traders has the following results related to cash flows for 2020:

Net Income of $7,200,000
Increase in Accounts Payable of $600,000
Increase in Accounts Receivable of $100,000
Decrease in Debt of $700,000
Depreciation Expenses of $2,000,000
Dividends Paid of $500,000
Decrease in Inventory of $1,000,000
Purchases of Property, Plant, & Equipment of $8,300,000
Other Adjustments from Financing Activities of -$100,000
Other Adjustments from Investing Activities of $400,000
Other Adjustments from Operating Activities of -$200,000

Requried:
Create a statement of cash flows with amounts in thousands.

Answers

Answer:

Siam Traders

Siam Traders

Statement of Cash Flows (in thousands)

Operating Activities:

Net Income                                                                $7,200

Non-cash adjustment:

Depreciation Expenses                                            $2,000

Increase in Accounts Receivable                               ($100)    

Decrease in Inventory                                              $1,000

Increase in Accounts Payable                                    $600  

Other Adjustments from Operating Activities         ($200)

Net cash from operating activities                        $10,500

Investing Activities:

Purchases of Property, Plant, & Equipment         ($8,300)  

Other Adjustments from Investing Activities           $400

Net cash from investing activities                        ($7,900)

Financing Activities:

Decrease in Debt                                                     ($700)  

Dividends Paid                                                         ($500)  

Other Adjustments from Financing Activities of    ($100)

Net cash from financing activities                        ($1,300)

Net cash flows                                                        $1,300

Explanation:

a) Data and Calculations:

Net Income of $7,200,000

Increase in Accounts Payable of $600,000

Increase in Accounts Receivable of $100,000

Decrease in Debt of $700,000

Depreciation Expenses of $2,000,000

Dividends Paid of $500,000

Decrease in Inventory of $1,000,000

Purchases of Property, Plant, & Equipment of $8,300,000

Other Adjustments from Financing Activities of -$100,000

Other Adjustments from Investing Activities of $400,000

Other Adjustments from Operating Activities of -$200,000

Operating Activities:

Net Income of $7,200,000

Depreciation Expenses of $2,000,000

Increase in Accounts Receivable of $100,000    

Decrease in Inventory of $1,000,000

Increase in Accounts Payable of $600,000  

Other Adjustments from Operating Activities of -$200,000

Investing Activities:

Purchases of Property, Plant, & Equipment of $8,300,000  

Other Adjustments from Investing Activities of $400,000

Financing Activities:

Decrease in Debt of $700,000  

Dividends Paid of $500,000  

Other Adjustments from Financing Activities of -$100,000

Travis and Andrea were divorced in 2017. Their only marital property consisted of a personal residence (fair market value of $400,000, cost of $200,000), and publicly traded stocks (fair market value of $800,000, cost basis of $500,000). Under the terms of the divorce agreement, Andrea received the personal residence and Travis received the stocks. In addition, Andrea was to receive $50,000 for eight years. I. If the $50,000 annual payments are to be made to Andrea or her estate (if she dies before the end of the eight years), the payments will qualify as alimony. II. Andrea has a taxable gain from an exchange of her one-half interest in the stocks for Travis' one-half interest in the house and cash. III. If Travis sells the stocks for $900,000, he must recognize a $400,000 gain. a.I, II, and III are true. b.Only III is true. c.Only I and II are true. d.Only I and III are true.

Answers

Answer: B. b.Only III is true.

Explanation:

It should be noted that in order to qualify as an alimony, then the cash payments have to stop when the payer dies.

It should be noted that the $50,000 annual payments that are to be made to Andrea or her estate if she dies before the end of the eight years doesn't qualify as alimony.

Therefore, the correct option will be that If Travis sells the stocks for $900,000, he must recognize a $400,000 gain.

Therefore, only III is correct.

Molly sells bracelets to Jean's Place, a boutique store. Molly is scheduled to deliver 100 bracelets on July 1. On June 15, Jean, the owner of Jean's Place calls Molly and says "I might not be able to pay for your bracelets." Molly does not deliver the bracelets on July 1. Jean can probably recover from Molly for breach of contract. Group of answer choices True False

Answers

Answer: False

Explanation:

The contract is such that Molly agreed to bring bracelets if Jean would pay for said bracelets.

The terms of the contract therefore are that Jean would pay and Molly would deliver. Jean then calls Molly and says that they will be unable to pay which means that they are not going to be able to hold up their responsibilities in the contract.

Molly has the right to then cancel the contract because the other party will not be able to perform their obligations and face no repercussion for it.

A state of economic scarcity exists when consumers:
A. do not have enough resources to satisfy all of their wants.

B. save their money in banks instead of spending it.

C. borrow too much money to buy unnecessary products.

D. have their economic freedoms restricted by the government.​

Answers

Answer is A
when you don’t have enough resources that for people’s wants and needs that is called scarcity.
the correct answer is A

which of the following would most likely be considered a short term goal

Answers

Bakeing 24 cookies for tomorrows bakesale

Finish knitting a quilt by this sunday

ect

Place and convenience are connected by a core linkage. While GoPro was able to get the product into locations where customers could find it, it made an error when production problems forced it to

Answers

Question Completion with Options:

a. ignore convenience stores in its distribution network.

b. deliver fewer cameras than were needed during a holiday season.

c. miss the customer connection by emphasizing place over convenience.

d. exert too much power in the distribution network.

Answer:

GoPro

production problems forced it to

b. deliver fewer cameras than were needed during a holiday season.

Explanation:

Shortages are avoided by producers as much as possible in order not to cause disequilibrium in the market.  Shortages are not the same as scarcity.  They are temporary setbacks when the quantity demanded outstrips the quantity supplied at the equilibrium market price.  The backlashes result in lost sales and revenue for suppliers.  Shortages may clear ways for competitors to enter the market to meet the unsatisfied demand.

New lithographic equipment, acquired at a cost of $859,200 on March 1 of Year 1 (beginning of the fiscal year), has an estimated useful life of five years and an estimated residual value of $96,660. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected.

Required:
a. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the straight-line method and (b) the double-declining-balance method. Round your answers to the nearest whole dollar.
b. Journalize the entry to record the sale assuming the manager chose the double-declining-balance method.

Answers

Answer and Explanation:

The calculation and the journal entry is given below:

a)

Depreciation expense= (Original cost - Residual Value) ÷ Estimated useful life

= $(859200 - 96660) ÷ 5

= $152508

Year     Depreciation Expense Accumulated depreciation   Book Value,

1            $152508                           $152508                           $706692

2            152508                         305016                            554184

3             152508                            457524                           401676

4              152508                            610032                             249168

5          152508                           762540                              96660

b)

Depreciation rate is

= 100 ÷ 5 × 2

= 40%

Year     Depreciation Expense Accumulated depreciation   Book Value,

1  $343680                               $343680                            $515520

( 40% of 859200)

2       206208                                   549888                             309312

(40% of 515520)

3 123725                                     673613                        185587

4 74235                                      747848                         111352

5  14692                                      762540                               96660

(111352-96660)

c)

The journal entry is  

Cash  $141422.00  

Accumulated depreciation- Equipment  $747848.00  

     To Gain on sale of Equipment   $30070.00

      To Equipment   $859200.00  

(Being the sale of equipment is recorded)      

Chabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Chabot Company's average operating assets were: a. $300,000. b. $60,000. c. $10,800. d. $12,000.

Answers

should be b! hope this helps

Both IFRS and U.S. GAAP allow deferred taxes to be: presented as noncurrent on the balance sheet. measured using a substantially enacted tax rate. recognized in equity after a fixed asset revaluation.

Answers

Answer:

presented as noncurrent on the balance sheet.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles, it was adopted by the U.S. Securities and Exchange Commission (SEC) and is the comprehensive accounting rules and standard used in recording and reporting financial information.

The IFRS is an acronym for International Financial Reporting Standards,International Financial Reporting Standards, it is a set of accounting rules that ensure financial statements are consistent, transparent and comparable globally.

Both IFRS and U.S. GAAP allow deferred taxes to be presented as noncurrent on the balance sheet.

Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Estimated annual overhead cost $1700000
Actual annual overhead cost $1675000
Estimated machine hours 200000
Actual machine hours 190000

Answers

Answer:

Underapplied overhead= $60,000

Explanation:

Giving the following information:

Estimated annual overhead cost $1700000

Actual annual overhead cost $1675000

Estimated machine hours 200000

Actual machine hours 190000

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,700,000 / 200,000

Predetermined manufacturing overhead rate= $8.5 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 8.5*190,000

Allocated MOH= $1,615,000

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 1,675,000 - 1,615,000

Underapplied overhead= $60,000

Neubart Company owns 100% of the outstanding shares of two European subsidiaries, which operate largely independently and operate in a different industry than Neubart. The subsidiaries' earnings typically are reinvested in their home country. In consolidating the subsidiaries financial statements with those of the U.S. parent, the subsidiaries' financial statement numbers should be:________ a) remeasured using the current rate method. b) remeasured using the temporal method. c) translated using the current rate method. d) translated using the temporal method.

Answers

Answer: c) translated using the current rate method.

Explanation:

It should be noted that the translation method is utilized when the financial statements of a subsidiary unit are being expressed in the functional currency of the parent company.

Following the question given above, in consolidating the subsidiaries financial statements with those of the U.S. parent, the subsidiaries' financial statement numbers should be translated using the current rate method.

Therefore, the correct option is C.

Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680.70. His net pay for the month is:_________
A) $3,857.30
B) $3,510.14
C) $4,538.00
D) $3,162.98
E) $4,190.84

Answers

Answer: $3,510.14

Explanation:

Trey Morgan's net pay will be amount remaining after deducting the FICA taxes for Social security and Medicare and the Federal income tax withheld.

The net pay is therefore:

= 4,538 - (4,538 * 6.2%) - (4,538 * 1.45%) - 680.70

= 4,538 - 281.356 - 65.801 - 680.70

= $3,510.14

You have an opportunity to work three hours of overtime and earn an extra $99 gross income. However, a total of $32 will be taken out for federal, state, and local taxes. You parked in the parking garage and will have to pay $6.50 total to park for the additional hours. You also didn't pack an extra meal, which you already have in the refrigerator at home; so you will have to spend $12 for food. You will also have to pay $55 for additional daycare for your children. According to the marginal principle and everything else equal (ceteris paribus); will you work the overtime? Why or why not? (Show your work) (10 %)

Answers

Answer:

no

the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime

Explanation:

According to the marginal cost principle, i would be willing to work if marginal benefit exceeds marginal cost

Marginal cost = 32 + 6.5 + 12 + 55 = 105.50

Marginal benefit = 99

the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime. So, i won't work overtime

a. Net income was $471,000.
b. Issued common stock for $74,000 cash.
c. Paid cash dividend of $11,000.
d. Paid $130,000 cash to settle a note payable at its $130,000 maturity value.
e. Paid $122,000 cash to acquire its treasury stock.
f. Purchased equipment for $91,000 cash.

Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)

Answers

Answer:

-$189,000

Explanation:

Calculation to determine the cash flows from financing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Issued common stock for cash $74,000

Less Paid cash dividend ($11,000)

Less Paid cash to settle a note payable ($130,000)

Less Paid cash to acquire its treasury stock ($122,000)

Cash flows from financing activities -$189,000

Therefore the Cash flows from financing activities is -$189,000

A trial balance is a(n) (list/balance/chart)
of accounts and their balances at a point in time and is used to confirm that the sum of debit account balances equals the sum of
account balances. Use one word for each blank.

Answers

Answer:

- List; credit

"A trial balance is a(n) list  of accounts and their balances at a point in time and is used to confirm that the sum of debit account balances equals the sum of  credit account balances."

Explanation:

'Trial Balance' is described as the 'statement of the balances of all nominal accounts in a double-entry ledger.' It is primarily made with the aim to examine the equality in the debit, as well as, credit balances. As per the accounting rules, the total value of the debits must be equal to the total of credit values. Any difference or discrepancy in the balance signals that an error has been made in the calculation or making the entries and certain transactions are missed out. Thus, the correct words would be 'list and credit.'

Grays Company uses a perpetual inventory system. On May 1, the company had inventory of 20 units at a cost of $8 each. On May 3, it purchased 30 units at $10 each. 22 units are sold on May 6. Under the weighted average inventory costing method, what amount will be reported as cost of goods sold for the 22 units that were sold

Answers

Answer: $9.20

Explanation:

Using the weighted average inventory costing method, the price is abased on the number of units and their price.

The above inventory cost would be calculated as follows:

= [ (Opening units * Cost of units) + (Units purchased * Cost of purchase) ] / Total units in inventory

= [ (20 * 8) + (30 * 10) ] / (20 units + 30 units)

= [ 160 + 300 ] / 50

= $9.20

The Baldwin Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use

Answers

Answer:

$38,448,000

Explanation:

Calculation to determine What will the book value of this purchase

First step

Depreciation = (cost - salvage)/useful life

Depreciation= (40,900,000 - 4,090,000 )/15

Depreciation=36810000/15

Depreciation=2454000

Now let determine the

Book value=Cost -Depreciation

Book value=$40,900,000-$2,454,000

Book value=$38,448,000

Therefore the book value of this purchase is$38,448,000

Norton Company reported total sales revenue of $55,000, total expenses of $45,000, and net income of $10,000 on its income statement for the year ended December 31, 2010. During 2010, accounts receivable increased by $4,000, merchandise inventory increased by $6,000, accounts payable decreased by $2,000, and depreciation of $18,000 was recorded. Therefore, based only on this information, the net cash flow from operating activities using the indirect method for 2010 was:

Answers

Answer:

By calculation the answer is $16,000.

Norton Company reported total sales revenue of $55,000, total expenses of $45,000, and net income of $10,000 on its income statement for the year ended December 31, 2010.  To calculate the net cash flow from operating activities using the indirect method.

The net income and then adjust for changes in working capital and non-cash expenses.

Net Income: $10,000

Adjustments for Changes in Working Capital:

Increase in Accounts Receivable: $4,000

Increase in Merchandise Inventory: $6,000

Decrease in Accounts Payable: $2,000

Adjustments for Non-cash Expenses:

Depreciation: $18,000

Net Cash Flow from Operating Activities:

Net Income + Adjustments for Changes in Working Capital + Adjustments for Non-cash Expenses

$10,000 - $4,000 - $6,000 + $2,000 + $18,000

$10,000 - $8,000 + $2,000 + $18,000

Net Cash Flow from Operating Activities = $22,000

Therefore, based on the given information, the net cash flow from operating activities using the indirect method for 2010 was $22,000.

To know more about cash flow here,

https://brainly.com/question/27994727

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Katrina needs to use her communication and conflict management skills every day with her team. What stage of development is her team in?​

Answers

Answer:

forming

Explanation:

Storming - stage 2

Decisions don't come easily within group. Team members vie for position as they attempt to establish themselves in relation to other team members and the leader, who might receive challenges from team members. Clarity of purpose increases but plenty of uncertainties persist. Cliques and factions form and there may be power struggles. The team needs to be focused on its goals to avoid becoming distracted by relationships and emotional issues. Compromises may be required to enable progress. Leader coaches (similar to Situational Leadership® 'Selling' mode).

As per the description provided, the stage of team development at which Katrina's team would be:

- Storming stage

The team development has been divided into five stages:

FormingStormingNormingPerformingAdjourning

The storming stage is described as the stage where every member comes up with his/her ideas and attempts to impress their peers.

This leads to competition among the members of the team and the development of conflicts.

Therefore, the leaders like Katrina intrude in order to resolve the disagreements and handle competition to ensure that the project goes in the right direction.

Thus, the 'storming' stage is the correct answer.

Learn more about 'Team Development' here:

brainly.com/question/2133587

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August. Merchandise inventory, August 1 $ 96,610 Merchandise inventory, August 31 100,530 Purchases 254,660 Purchases returns and allowances 13,340 Purchases discounts 6,320 Freight in 4,070Cost of Merchandise Sold for August = ______.

Answers

Answer:

Cost of merchandise = $235150

Explanation:

Below is the calculations:

Cost of merchandise = Opening inventory - ending inventory + purchases - purchase return - purchase discount + freight

Now plug the value in the above formula:

Cost of merchandise = 96610 - 100530 + 254660 - 13340 - 6320 +4070

Cost of merchandise = $235150

A truck that cost $72,000 and on which $60,000 of accumulated depreciation has been recorded was disposed of for $18,000 cash. The entry to record this event would include a

Answers

Answer:

Gain of $6,000.

Explanation:

Calculation to determine what The entry to record this event would include

Using this formula

Gain=(Accumulated depreciation+Cash)-Cost

Let plug in the formula

Gain=($60,000+$18,000)-$72,000

Gain=$78,000-$72,000

Gain=$6,000

Therefore The entry to record this event would include a gain of $6,000

Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October:

Units Percent Completed Materials Conversion Work in process,
October 1 49,000 90% 60%
Work in process, October 31 27,000 69% 46%

The department started 389,000 units into production during the month and transferred 411,000 completed units to the next department.

Required:
Compute the equivalent units of production for October. Show your complete solution.

Answers

Answer:

Materials 429,630

Conversion 423,420

Explanation:

Computation for the equivalent units of production for October.

MATERIALS

Equivalent units of production= 411,000 + (27,000*69%)

Equivalent units of production=411,000 + 18,630

Equivalent units of production= 429,630

CONVERSION

Equivalent units of production= 411,000 +(27,000*46%)

Equivalent units of production =411,000+12,320

Equivalent units of production= 423,420

Therefore the equivalent units of production for October is:

Materials 429,630

Conversion 423,420

TR Company conducts business exclusively in State V, which levies a 5 percent sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. The cost of the equipment was $90,000, and TR paid $5,400 sales tax to State B. TR also bought machinery in State D. The cost of the machinery was $200,000, and TR paid $7,000 sales tax to State D.

Required:
a. How much use tax does TR Company owe to State V with respect to the equipment bought in State B?
b. How much use tax does TR Company owe to State V with respect to the machinery bought in State D?

Answers

Answer:

a. Particulars                                                       Amount

Value of property purchased in State B A      $90,000

Tax rate in State V B                                              5%    

Pre-Credit use tax C (A*B)                                 $4,500

Credit Sales tax paid to State B D                   ($5,400)

Use tax owed to State V E (C+D)                      $0          

b. Particulars                                                          Amount

Value of property purchased in State D A        $200,000

Tax rate in State V B                                                  5%      

Pre-credit use tax C (A*B)                                   $10,000

Credit Sales tax paid to State D D                     ($7,000)  

Use tax owed to State V E (C+D)                       $3,000    

The American Recovery and Reinvestment Act, signed by President Barack Obama in 2009, aimed at: Group of answer choices providing higher unemployment benefits to the residents of the economy. removing the supply bottlenecks in the economy. ensuring free trade flows across the world. stimulating the aggregate demand in the economy. closing an expansionary gap through a contractionary fiscal policy.

Answers

Answer: Stimulating the aggregate demand in the economy.

Explanation:

When former President Obama took over the governing of the nation in 2009, the country was in the midst of one of the worst global depressions that it had ever been through. Employment was high and aggregate demand was low.

President Obama therefore embarked on an expansionary fiscal policy by passing the American Recovery and Reinvestment Act which was to target certain sectors of the economy with the view of increasing investment in those sectors and consumption so that Aggregate demand can be stimulated in the economy as those two things are components of Aggregate demand.

Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the journal entry necessary to record the repurchase of stock on June 30?A. Debit Common Stock $2,300; credit Cash $2,300.
B. Debit Common Stock $20; debit Treasury Stock $2,290; credit Cash $2,300.
C. Debit Common Stock $2,300; credit Treasury Stock $2,000; credit Paid-In Capital, Treasury Stock $300.
D. Debit Cash $2,300; credit Paid-in Capital, Treasury Stock $300; credit Treasury Stock $2,000.
E. Debit Cash $2,300; credit Treasury Stock $2,300.

Answers

Answer:

When shares are repurchased, they are recorded at the cost price in the books which means that they will be recorded at:

= 100 * 40

= $4,000

Cash will then be credited because assets are credited when they reduce.

Treasury stock will be debited to show that Equity is reducing.

Date                       Account Title                                 Debit                  Credit

June, 30                Treasury Stock                            $4,000

                               Cash                                                                       $4,000

On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $4,500, terms 4/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $1,000. On June 24, SH completely fulfills its obligation to Oakley by making a cash payment. What is the amount of cash paid by SH to Oakley

Answers

Answer: $3360

Explanation:

Based on the information given in the question, the amount of cash paid by SH to Oakley will be calculated as thus:

SH will be entitled to a discount of 4% since the payment was made within the discount period, therefore, the discount that is applicable will be:

= $4500 - $1000

= $3,500

Therefore, the amount of cash payment that is made by SH to Oakley will be:

= $3,500 - (4% × $3,500)

= $3500 - (0.04 × $3500)

= $3500 - $140

= $3360

Therefore, the amount of cash paid by SH to Oakley is $3360.

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item.

Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value)
Model A 12 $106 $102
Model B 45 84 70
Model C 36 254 243
Model D 31 85 88
Model E 41 132 148

Required:
Determine the value of the inventory at the lower of cost or market.

Answers

Answer:

The value of the inventory at the lower of cost or market price is:

= $21,170.

Explanation:

a) Data and Calculations:

Product  Inventory    Cost per Unit  Market Value per Unit     LCNRV

              Quantity                              (Net Realizable Value)

Model A       12                $106                   $102                  $1,225 (12*$102)

Model B      45                    84                       70                     3,150 (45*$70)

Model C     36                  254                    243                     8,748 (36*$243)

Model D     31                     85                      88                     2,635 (31*$88)

Model E     41                    132                    148                      5,412 (41*$132)

Total cost of inventory based on LCNRV (per item)        $21,170

epartments have estimated annual factory overhead costs of $256,000 and $480,000, respectively. The Fabrication Dept. expects 25,000 machine hours this year. The Assembly Dept. expects $592,000 DL cost this year. Calculate the factory overhead cost that will be charged to each unit of the two products using multiple production dept. factory overhead rates (round to nearest $0.00).

Answers

Answer:

Factory overhead cost charged to each unit:

                                                     Fabrication     Assembly

Factory overhead rates                  $10.24             $0.81

Machine hours per unit                   5

Direct labor cost per unit                                       $118.40

Factory overhead cost per unit   $51.20             $95.90

Explanation:

a) Data and Calculations:

                                         Fabrication            Assembly

Annual overhead costs  $256,000              $480,000

Expected machine hours   25,000                             0

Expected direct labor costs         0               $592,000

Overhead rates                $10.24                  $0.81

                         ($256,000/25,000)             ($480,000/$592,000)

Assuming number of units produced = 5,000

Each unit will consume   5 (25,000/5,000)   $118.40 ($592,000/5,000)

                                    machine hours           direct labor cost

Overhead cost per unit = $51.20                  $95.90

                                     ($10.24 * 5)               ($118.40 * $0.81)

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