Financial Accounting > EXAM > Final_ACCT505_with_Answers 95% 2021 (All)

Final_ACCT505_with_Answers 95% 2021

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1. (TCO F) Sandler Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below. Estimated machine hours 73,000 Es ... timated variable manufacturing overhead $3.49 per machine hour Estimated total fixed manufacturing overhead $838,770 Required: Compute the company's predetermined overhead rate. (Points : 25) Answer Computer Overhead Rate Fixed Manuf OH 838700 Var Manuf OH 252580 (3.46x73000) Per Direct Lab H 3.46 Direct Lab Hours 73000 Est Manuf OH 1091280 (838700+252580) Direct Lab Hours 73000 OH Rate 14.95 (1091280/73000) 2. (TCO C) Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $31,000. Budgeted cash receipts total $135,000 and budgeted cash disbursements total $141,000. The desired ending cash balance is $50,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for November in good form. (Points : 25) Answer Cash Budget for November Beginning Cash balance $31,000.00 Cash Receipts $135,000.00 Total Cash Available $166,000.00 (31000+135000) Less: Cash Disbursement $141,000.00 Excess Cash $25,000.00 (166000-141000) [Show More]

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