This question was created from Econ 312 wk 1 quiz https://www.coursehero.com/file/11850470/Econ-312-wk-1-quiz/

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This question was created from Econ 312 wk 1 quiz https://www.coursehero.com/file/11850470/Econ-312-wk-1-quiz/

11850470-23638.jpeg

11850470-23638.jpeg

11850470-23638.jpeg

 
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I need to know please how to resolve this. See attachements. this is a budgeting class

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I need to know please how to resolve this. See attachements. this is a budgeting class

AC556Week 1 ProblemABC CostingNOTE:It is expected that this problem will be completed using an Excel spreadsheetusing formulas. Please see the Excel Tutorial that is available under the course home tab.The new president of the Wernecke Company was stumped. Why had profits gone down?He had directed the sales department to push the product with the highest contributionmargin, and the sales department had come through with flying colors. The percent offlams sold had increased from 25% of units sold to 37.5% of units sold. So whathappened?FlimsFlamsSales Price per Unit$150$500Direct Materials per Unit$75$200Direct Labor Cost per Hour$25$25Direct Labor Hours per Unit1 hour per unit5 hours per unitNumber of Units Produced25,00015,000The variable overhead for the coming year is estimated to be $3,000,000.Required:1.Calculate the Wernecke Company’s estimated direct labor hours to produce flimsand flams.2.Calculate the predetermined variable overhead rate that will be used in the comingyear using a traditional costing system based upon direct labor hours.3.Using a traditional costing system based upon direct labor hours, compute the unitproduct costs for flims and flams as well as contribution margin per unit.4.It has been suggested to the president to consider the use of an ABC costingsystem to allocate manufacturing overhead. Engineering studies have revealed thefollowing information about estimated manufacturing activities for the comingyear.Activity Cost PoolEstimated OverheadCostExpected ActivityLevelSetups$850,000200 setupsScrap$350,000500 unitsTesting$200,0005,000 testsMachine related$1,600,000100,000 MhrsTotal$3,000,000Calculate the separate predetermined overhead rates for each of the activitieslisted above.
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1. Which is not a source of federal revenue?

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1. Which is not a source of federal revenue?

a) Employment Taxes   b) Estate

and Gift Taxesc) Sales Tax
d) Income taxes on Individuals

2)

What type of deductions is directly deducted from Gross Income?(Points : 6)

a) Above the line deductions
b) Tax exempt incomec) Tax Credits     d) Itemized Deductions

 
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This question was created from Chapter 13 https://www.coursehero.com/file/11244078/Chapter-13/

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This question was created from Chapter 13 https://www.coursehero.com/file/11244078/Chapter-13/

11244078-24548.jpeg

 
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