Marquis company estimates that annual manufacturing overhead costs will be $900,000. estimated annual operating activity bases are direct labor cost $500,000, direct labor hours 50,000, and machine hours 100,000.

compute the predetermined overhead rate for each activity base. (round answers to 2 decimal places, e. g. 10.50.)

overhead rate per direct labor cost
marquis company estimates that annual manufacturin

%
overhead rate per direct labor hour
$marquis company estimates that annual manufacturin

overhead rate per machine hour
$marquis company estimates that annual manufacturin

in january, dieker company requisitions raw materials for production as follows: job 1 $900, job 2 $1,200, job 3 $700, and general factory use $600.

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

You have just received notification that you have won the $2.0 million first prize in the centennial lottery. however, the prize will be awarded on your 100th birthday (assuming you're around to collect), 66 years from now. what is the present value of your windfall if the appropriate discount rate is 8 percent?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of