The Shirt Company manufactures shirts in two departments: cutting and sewing. The company allocates manufacturing overhead using a single plantwide rate with direct labor hours as the allocation base. Estimated overhead costs for the year are 200,000 and estimated direct labor hours are 100,000. In June, the company incurred 15,500 direct labor hours. 1) Compute the predetermined OH allocation rate.
2) Determine the amount of OH allocated in June. The estimated costs for the cutting dept are 259,600. They will be allocated based on direct labor hours, which are estimated to be 118,000 hours for the year. The estimated costs for the sewing department are 513,000. Those costs will be allocated based on machine hours, which are estimated to be 190,000 hours for the year. In June, the company incurred 7,000 direct labor hours in cutting and 13,000 machine hours in sewing.
3) Compute the predetermined OH allocation rates for each department.
4) Determine the total amount of OH allocated in June.

Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)

Your subscription to investing wisely weekly is about to expire. you plan to subscribe to the magazine for the rest of your life, and you can renew it by paying $85 annually, beginning immediately, or you can get a lifetime subscription for $620, also payable immediately. assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?