Byrd company produces one product, a putter called go-putter. byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one go-putter. the normal production capacity for this putter is 120,000 units per year. the total budgeted overhead at normal capacity is $1,080,000 comprised of $360,000 of variable costs and $720,000 of fixed costs. byrd applies overhead on the basis of direct labor hours.

during the current year, byrd produced 76,600 putters, worked 98,400 direct labor hours, and incurred variable overhead costs of $143,395 and fixed overhead costs of $602,095.

compute the predetermined variable overhead rate and the predetermined fixed overhead rate.

a. predetermined overhead rate
b. compute the applied overhead for byrd for the year.
c. overhead applied
d. compute the total overhead variance.
e. total overhead variance
f. favorable nor unfavorable

Acme published a story about paul and as a result paul sued acme for damage to his reputation, emotional distress, and punitive damages. paul won an award of $20,000 for damages, $5,500 for emotional distress, and $50,000 for punitive damages. what amount must paul include in his gross income

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.