Homework Answers
| c | ||
| Double Declining Depreciation rate | 40% | =1/5*2 |
| Depreciation expense | ||
| 2020 | 11020 | =110200*40%*3/12 |
| 2021 | 39672 | =(110200-11020)*40% |
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Exercise 10 06 a c (Part Level Submission) Whispering Winds company purchased a new machine on...
RESOURCES oters 14,1. | Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order...
RESOURCES oters 14,1. | Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. -4 (Part Level In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department -12 (Video) Submission) -6 (Video) Submission) -4A...
Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order cost system in each...
Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on Ehe basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department D Manufacturing overhead Direct labor costs Direct labor hours Machine hours $1,170,000 $1,462,500 100,000...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance 2,125.) BRIDGEPORT COMPANY Partial Balance Sheet December 31, 2020 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 6 nere to search W R . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units of activity method,...
Exercise 2-5 (Video) (Part Level Submission) Ikerd Company applies manufacturing overhead to jobs on the basis...
Exercise 2-5 (Video) (Part Level Submission) Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $317,250 for the year, and machine usage is estimated at 126,900 hours. For the year, $334,900 of overhead costs are incurred and 130,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate per machine hour Click if you would like...
By accessing this Question Assistance, you will learn while you earn points based on the Point...
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your i Part on on) (b1) Assume that Bridgeport uses the straight-line method. Prepare the journal entry to record 2020 depredation. (Credit accous entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for ta 2,125.) tudy Account Titles and Explanation Debit Credit By accessing this Question Assistance, you will...
CALCULATOR PRINTER VERSION « BACK NEXT Exercise 9-24 Gotham Company purchased a new machine on October 1, 2022, at...
CALCULATOR PRINTER VERSION « BACK NEXT Exercise 9-24 Gotham Company purchased a new machine on October 1, 2022, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Depreciation using the Declining-balance methods LINK TO TEXT...
Exercise 10-06 a-c Sarasota Company purchased a new machine on October 1, 2020, at a cost...
Exercise 10-06 a-c Sarasota Company purchased a new machine on October 1, 2020, at a cost of $113,500. The company estimated that the machine will have a salvage value of $13,500. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.g. 2,125.) 2020 Depreciation expenses LINK TO TEXT Compute the depreciation expense under units-of-activity for 2020, assuming machine usage...
DACR Exercise 9-6 (Part Level Submission) Rottino Company purchased a new machine on October 1, 2015,...
DACR Exercise 9-6 (Part Level Submission) Rottino Company purchased a new machine on October 1, 2015, at a cost of $145,500. The company estimated that the machine will have a salvage value of $14,900. The machine is expected to be used for 11,000 working hours during its 5-year life. (a) Your answer is correct. Compute the depreciation expense under straight-line method for 2015. (Round answer to O decimal places, e.g. 2,125.) 2015 Straight-line method 6,530 SHOW SOLUTION SHOW ANSWER LINK...
Exercise 14-02 a-c (Part Level Submission) Crane Corporation was organized on January 1, 2019. During its...
Exercise 14-02 a-c (Part Level Submission) Crane Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,075; 2020, $13,900; and 2021, $28,000. Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative Allocation to...
Exercise 22-19 (Part Level Submission) Rap Corporation produces outdoor portable fireplace units. The following per unit...
Exercise 22-19 (Part Level Submission) Rap Corporation produces outdoor portable fireplace units. The following per unit cost information is available: direct materials $23, direct labor $29, variable manufacturing overhead $13, fixed manufacturing overhead $20. variable selling and administrative expenses $11, and fixed selling and administrative expenses $16. The company's ROI per unit is $24. (a) Your answer is correct. Compute Rap Corporation's markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, 9. 10.50.) Absorption-cost pricing markup percentage SHOW...
RESOURCES oters 14,1. | Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. -4 (Part Level In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department -12 (Video) Submission) -6 (Video) Submission) -4A...
Problem 2-4A (Video) (Part Level Submission) Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on Ehe basis of direct labor cost in Department D, direct labor hours in Department E, and machine hours in Department K. In establishing the predetermined overhead rates for 2020, the following estimates were made for the year. Department D Manufacturing overhead Direct labor costs Direct labor hours Machine hours $1,170,000 $1,462,500 100,000...
(62) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance 2,125.) BRIDGEPORT COMPANY Partial Balance Sheet December 31, 2020 By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 6 nere to search W R . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units of activity method,...
Exercise 2-5 (Video) (Part Level Submission) Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $317,250 for the year, and machine usage is estimated at 126,900 hours. For the year, $334,900 of overhead costs are incurred and 130,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate per machine hour Click if you would like...
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your i Part on on) (b1) Assume that Bridgeport uses the straight-line method. Prepare the journal entry to record 2020 depredation. (Credit accous entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for ta 2,125.) tudy Account Titles and Explanation Debit Credit By accessing this Question Assistance, you will...
CALCULATOR PRINTER VERSION « BACK NEXT Exercise 9-24 Gotham Company purchased a new machine on October 1, 2022, at a cost of $90,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Depreciation using the Declining-balance methods LINK TO TEXT...
Exercise 10-06 a-c Sarasota Company purchased a new machine on October 1, 2020, at a cost of $113,500. The company estimated that the machine will have a salvage value of $13,500. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.g. 2,125.) 2020 Depreciation expenses LINK TO TEXT Compute the depreciation expense under units-of-activity for 2020, assuming machine usage...
DACR Exercise 9-6 (Part Level Submission) Rottino Company purchased a new machine on October 1, 2015, at a cost of $145,500. The company estimated that the machine will have a salvage value of $14,900. The machine is expected to be used for 11,000 working hours during its 5-year life. (a) Your answer is correct. Compute the depreciation expense under straight-line method for 2015. (Round answer to O decimal places, e.g. 2,125.) 2015 Straight-line method 6,530 SHOW SOLUTION SHOW ANSWER LINK...
Exercise 14-02 a-c (Part Level Submission) Crane Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,075; 2020, $13,900; and 2021, $28,000. Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative Allocation to...
Exercise 22-19 (Part Level Submission) Rap Corporation produces outdoor portable fireplace units. The following per unit cost information is available: direct materials $23, direct labor $29, variable manufacturing overhead $13, fixed manufacturing overhead $20. variable selling and administrative expenses $11, and fixed selling and administrative expenses $16. The company's ROI per unit is $24. (a) Your answer is correct. Compute Rap Corporation's markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, 9. 10.50.) Absorption-cost pricing markup percentage SHOW...
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