The following is summary of information presented on the financial statements of a company on December...
The following is summary of information presented on the
financial statements of a company on December 31, 2015.
| Account | 2015 | 2014 |
| Current Assets | $82,000 | $70,000 |
| Accounts Receivable | 60,000 | 68,000 |
| Merchandise Inventory | 62,000 | 53,000 |
| Current Liabilities | 52,000 | 46,000 |
| Long-term Liabilities | 39,000 | 45,000 |
| Common Stock | 70,000 | 50,000 |
| Retained Earnings | 65,000 | 40,000 |
What would a horizontal analysis report show with respect to long-term liabilities?
|
long-term liabilities decreased by $30,000 |
||
|
long-term liabilities decreased by $10,000 |
||
|
long-term liabilities decreased by 13.33% |
||
|
long-term liabilities decreased by 40% |
Homework Answers
Horizontal analysis of long term liabilities
| 2015 | 2014 | $ | % | |
| Long term liabilities | 39000 | 45000 | -6000 | 6000/45000 = -13.33% |
So answer is c) Long term liabilities decreased by 13.33%
Predetermined Overhead Rate = Estimated Total Manufacturing Overhead Cost / Estimated Total Direct Labor Hours Predetermined Overhead Rate = $664,000 / 26,000 hours Predetermined Overhead Rate ≈ $25.54 (rounded to 2 decimal places)
The correct answer is that the company's plantwide predetermined overhead rate for the year is approximately $25.54 per direct labor-hour.
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Just Dew It Corporation reports the following balance sheet
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information for 2014 and 2015.
Prepare the 2015 combined common-size, common–base year balance
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calculations. Round your answers to 4 decimal places, e.g.,
32.1616.)
Any help is appreciated :)
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