1. A manufacturing company prepays its insurance coverage for a three-year perio

Question

1. A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,700 and is paid at the beginning of the first year. Eighty percent of the premium applies to manufacturing operations and 20% applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage?

Option A

Option B

Option C

Option D

2. Hayne Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below:



The predetermined overhead rate for the recently completed year was closest to:

$7.89

$30.95

$24.52

$32.41

Option A

Option B

Option C

Option D

Explanation / Answer

2) data is mssing

overhead rate = (manufacturing overhead/ machine-hours) + oberhead per machine hour

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.