Ayala Corporation accumulates the following data relative to jobs started and finished during the month of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $2.10 11.300 $168,720 14,800 $232,608 Standard $1.90 10,900 $166,770 15,300 $235,008 41,500 $66,400 $3.20 $1.60 Overhead is applied on the basis of standard machine hours. 3.20 hours of machine time are required for each direct labor hour. The jobs were sold for $492,000. Selling and administrative expenses were $39,400. Assume that the amount of raw materials purchased equaled the amount used. Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2020. Costs and Production Data Raw materials unit cost Raw materials units Direct labor payroll Direct labor hours Manufacturing overhead incurred Manufacturing overhead applied Machine hours expected to be used at normal capacity Budgeted fixed overhead for June Variable overhead rate per machine hour Fixed overhead rate per machine hour Actual $2.10 11.300 $168,720 14,800 $232,608 Standard $1.90 10,900 $166,770 15,300 $235,008 41,500 $66,400 $3.20 $1.60 Overhead is applied on the basis of standard machine hours. 3.20 hours of machine time are required for each direct labor hour. The jobs were sold for $492,000. Selling and administrative expenses were $39,400. Assume that the amount of raw materials purchased equaled the amount used.
Expert Answer:
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Posted Date:
Students also viewed these accounting questions
-
Young & Young, CPAs, completed an examination of the financial statements of XYZ Company, Inc., for the year ended June 30, 2007 and issued a standard unqualified auditors report dated August 15,...
-
Young & Young, CPAs, completed an examination of the financial statements of XYZ Company, Inc., for the year ended June 30, 2012 and issued a standard unqualified auditor's report dated August 15,...
-
An examination of the Prepaid Insurance account shows a balance of $10,280 at the end of an accounting period, before adjustment. Prepare journal entries to record the insurance expense for the...
-
The number x of bicycle helmets people are willing to buy per week from a retail chain at a price of $p is given by x = 1,000 - 60p + 25 20 ¤ p ¤ 100 (see the figure). (A) Find dx/dp....
-
A survey was conducted by sampling 400 persons who were questioned regarding union membership and attitude toward decreased national spending on social welfare programs. The cross-tabulated frequency...
-
Calculate the mass of air (in kg) that is contained in a classroom that is 12m x 7m x 3m at 293 K and 0.1 MPa.
-
Reconsider the data from Problem 4. Management has expressed some concern over the life of the project and the impact of possible early termination. As a result, you have developed additional data...
-
Rodgers Corporation produces and sells football equipment. On July 1, 2014, Rodgers Corporation issued $65,000,000 of 10-year, 12% bonds at a market (effective) interest rate of 10%, receiving cash...
-
A 25-year-old Latin, G1P1, cisfemale presents to the office with a 6-month history of amenorrhea; reports having regular menstrual cycles every month up until about 1 year ago when her menstrual...
-
At WLU (a famous Canadian university), suppose that instructors mark exams out of 100 and then must convert that mark to a letter grade using the following conversions. A: 80100 B: 7079.9 C: 6069.9...
-
A technology grant provided by the government is available to teachers in order to install a cluster of four computers in their classrooms. From the 6250 teachers, 250 were randomly selected and...
-
Post a brief description of at least one strategy you have used in the past (academically or professionally) that was advantageous in empowering you in terms of one or more of the following skill...
-
Please give a brief description on NIRONE sensor technology 2) Please give a detailed description of how educational institutions can use this technology in operations( as in operations and...
-
A Ford passes a Toyota on the road (both vehicles are traveling in the same direction). The Ford moves at a constant speed of 48.5 m/s. Just as the Ford passes it, the Toyota is traveling at 24.8...
-
1. A brief summary of the Australian cinema industry and also Hoyts cinemas. 2. Analyze the general environment (using PESTLE analysis) of the Australian Cinema Industry and discuss their strategic...
-
12-19. A train starts from rest at station A and accelerates at 0.5 m/s for 60 s. Afterwards it travels with a constant velocity for 15 min. It then decelerates at 1 m/s until it is brought to rest...
-
Your challenge in this assignment is to create an event budget that will result in a positive ROI (Return on Investment) The fictional scenario for this event is that your client has asked you to...
-
What mass of KBr (in grams) should you use to make 350.0 mL of a 1.30 M KBr solution?
-
A corporation operates a highly automated flexible manufacturing facility. The capital-intensive nature of the corporation's operations makes internal control over the acquisition and use of fixed...
-
What is the effect on the nature, timing, and extent of substantive tests of accounts receivable when the risk of material misstatement is assessed as being low instead of high?
-
What is a special purpose entity (SPE)? Explain how Enron used SPEs to commit financial reporting fraud.
-
Continuing to focus on evidence associated with the act, concealment, and conversion, use the evidentiary material to continue the examination. In addition, the examiner also starts to think of terms...
-
Consider the following cash flow profile and assume MARR is 10 percent/year. a. Determine the ERR for this project. b. Is this project economically attractive? EOY 0 2 3 4 5 6 NCF -$100 $15 $15 $15...
-
Quilts R Us (QRU) is considering investing in a new patterning attachment with the cash flow profile shown in the table below. QRU's MARR is 13.5 percent/year. a. What is this investment's external...
Study smarter with the SolutionInn App