Monica Geller is an experienced chef. She runs a successful catering business and tailors each event...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Monica Geller is an experienced chef. She runs a successful catering business and tailors each event to the client's needs. In February 2020, she completed all outstanding orders, and then, in March 2020, she worked on only two events, an office party and a wedding. For the office party, direct materials cost was $71,000, and direct labor cost was $274,000. For the wedding, direct materials cost was $58,000 and direct labor was $206,000. Monica pays her staff $25 per hour and allocates overhead costs at a budgeted rate of $20 per direct labor- hour. Q3.1 1 Point How much overhead costs should Monica allocate to each event? (0) Office party (ii) Wedding Q3.2 1 Point Calculate the total cost for each event (i) Office party Enter your answer here (ii) Wedding Enter your answer here Save Answer Monica Geller is an experienced chef. She runs a successful catering business and tailors each event to the client's needs. In February 2020, she completed all outstanding orders, and then, in March 2020, she worked on only two events, an office party and a wedding. For the office party, direct materials cost was $71,000, and direct labor cost was $274,000. For the wedding, direct materials cost was $58,000 and direct labor was $206,000. Monica pays her staff $25 per hour and allocates overhead costs at a budgeted rate of $20 per direct labor- hour. Q3.1 1 Point How much overhead costs should Monica allocate to each event? (0) Office party (ii) Wedding Q3.2 1 Point Calculate the total cost for each event (i) Office party Enter your answer here (ii) Wedding Enter your answer here Save Answer
Expert Answer:
Answer rating: 100% (QA)
Q 31 Office Party No of Direct Labour for Office Party 2740002510960 Hour Offcie Party ... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Coakwell Company worked on only two jobs during May. Information on the jobs is given below: At the beginning of the year, annual manufacturing overhead (MOH) was budgeted at $3,780,000 and Coakwell...
-
Coakwell Company worked on only two jobs during May. Information on the jobs is given below: Job A701Job A702 Direct materials....................................$ 80,000........$ 92,000 Direct...
-
Monica Geller is the assistant chief accountant at BIT Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first...
-
dentify a true statement about penetration pricing. It emphasizes a company's current performance but can sacrifice long-term performance. It requires a company to price goods to cover variable costs...
-
Why is it important to have a written lease? What should a rental contract include?
-
Suppose the delivered bond in the Treasury Bond futures contract has a remaining maturity of 20 years and a 7% coupon. Assume the last coupon was just paid. What is its conversion factor?
-
A windmill has an approach velocity \(V_{1}=24 \mathrm{mph}(35.3 \mathrm{ft} / \mathrm{s})\) and a blade diameter of \(100 \mathrm{ft}\). The blade rotates at \(15 \mathrm{rpm}\). Figure P12.51 shows...
-
The CPA firm of Quigley & Associates uses a qualitative approach to implementing the audit risk model. Audit risk is categorized using two terms: very low and low. The risk of material misstatement...
-
During the current month, Carla Vista Corporation completed Job 310 and Job 312. Job 310 cost $67,200 and Job 312 cost $48,000. Job 312 was sold on account for $86,400. Journalize the entries for the...
-
The bond equivalent yield of a 91-day T-bill is 5%. What is the price of the bill for a $10,000 face value?
-
The following data is used to answer questions 19-21. Avid Available for sale $35,000 39,000 38,500 Classification Cost Market Value, 12/31/09 Market Value, 12/31/10 Fickle Co. held to maturity...
-
Provide Examples of how you could apply the knowledge from Financial Accounting course to improve your workplace.
-
Who are TESCO's shareholders, and what do they want in the following areas: Revenue Growth and Cost Improvement?
-
Balance sheet of the Fed: Key categories In the following table, use the selection menu to define the main categories in the balance sheet of the Federal Reserve Bank. Category Definition Term...
-
Based on your own knowledge and experience, provide FIVE major considerations for choosing software tools to ensure accounting/bookkeeping compliance.
-
What should Bejjani present to the board regarding his plan for next year?
-
What is the main advantage of a 'Multinational Corporation' ( ( MNC ) ? ) ? a ) ) Uniformity in marketing practices across different countries b ) ) Reduction in operational costs due to global...
-
Some people argue that the internal control requirements of the Sarbanes-Oxley Act (SOX) put U.S. companies at a competitive disadvantage to companies outside the United States. Discuss the...
-
Granada Theater Inc. was recently formed. All facilities were completed on March 31. On April 1, the ledger showed: Cash $6,300; Land $10,000; Buildings (concession stand, projection room, ticket...
-
As the end of Ray Companys fiscal year-end approached, it became clear that the company had considerable excess inventory. Jefferson Bunker, the head of marketing and sales, ordered salespeople to...
-
These items are taken from the financial statements of Cleland Co. at December 31, 2010. Building ................ $105,800 Accounts receivable .......... 12,600 Prepaid insurance ........... 4,680...
-
a. Assume that \(y_{1}, \ldots, y_{n}\) are i.i.d. with a negative binomial distribution with parameters \(r\) and \(p\). Determine the maximum likelihood estimators. b. Use the sampling mechanism in...
-
For the data in Table 12.1, confirm that the Pearson statistic in equation (12.3) is 41.98 . Table 12.1 (12.3) Count Observed (j) (nj) Fitted Counts Using the Poisson Distribution (np;) 01234 6,996...
-
Show that the log-likelihood in equation (12.2) has a maximum at \(\widehat{\mu}=\bar{y}\). n L() Inf(y,) = (-+y; In - In y;!). i=1 i=1 (12.2)
Study smarter with the SolutionInn App