The Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. The predetermined overhead rate based on machine hours is a.$62 per machine hour b.$45 per machine hour c.$48 per machine hour d.$50 per machine hour Harding Company Accounts payable $ 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the data for Harding Company, what is the amount of quick assets? A. $203,000 B. $66,000 C. $205,000 D. $131,000 A company with working capital of $345,604 and a current ratio of 2.3 pays a $75,951 short-term liability. Determine the amount of working capital immediately after payment. Select the correct answer. A. $345,604 B. $421,555 C. $75,951 D. $269,653
The Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. The predetermined overhead rate based on machine hours is a.$62 per machine hour b.$45 per machine hour c.$48 per machine hour d.$50 per machine hour Harding Company Accounts payable $ 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the data for Harding Company, what is the amount of quick assets? A. $203,000 B. $66,000 C. $205,000 D. $131,000 A company with working capital of $345,604 and a current ratio of 2.3 pays a $75,951 short-term liability. Determine the amount of working capital immediately after payment. Select the correct answer. A. $345,604 B. $421,555 C. $75,951 D. $269,653
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 3PA: Pocono Cement Forms expects $900,000 in overhead during the next year. It does not know whether it...
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Question
The Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. The predetermined overhead rate based on machine hours is
a.$62 per machine hour
b.$45 per machine hour
c.$48 per machine hour
d.$50 per machine hour
| Harding Company | |
| Accounts payable | $ 40,000 |
| 65,000 | |
| Accrued liabilities | 7,000 |
| Cash | 30,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 110,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 30,000 |
| Property, plant, and equipment | 625,000 |
| Prepaid expenses | 2,000 |
Based on the data for Harding Company, what is the amount of quick assets?
A. $203,000
B. $66,000
C. $205,000
D. $131,000
A company with
Select the correct answer.
A. $345,604
B. $421,555
C. $75,951
D. $269,653
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