Shakti Company budgets overhead cost of $105-000 for the year- The com.docx

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Shakti Company budgets overhead cost of $105 , 000 for the year. The company reports the following for its standard and deluxe models. 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 7,500 direct labor hours. 2. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overheac cost per unit for each model. 3. Compute the total product cost per unit for both models. Complete this question by entering your answers in the tabs below. Compute the total product cost per unit for both models. 2. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overhe :ost per unit for each model. 3. Compute the total product cost per unit for both models. Complete this question by entering your answers in the tabs below. 2. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overheac cost per unit for each model. 3. Compute the total product cost per unit for both models. Complete this question by entering your answers in the tabs below. The standard model uses 2 direct labor hours per unit and the deluxe model uses 3 direct labor hours per unit. Compute overhead cost per unit for each model. .

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S \& H FOOTWEAR Hassein graduated from McGill Univeryity in 2006 with a degree in besiness. He has always had an interest in foctwear, working part-time in high school at his parents" shoe store in Midland, Ontario. After graduation, he got a job with a Iarge Mantreal-based retailer. In 2009 , thussein met Sally at a shoe eapasition in Las Vegas, which he attends every year to see the introducticn of new styles fram around the world. Sally graduated from George Brown College in Toronto in 2007, and has been working in Toronto for a fashion show retaller with nine storen in Foronto, managing the Yorkdale store, the fagship of the chain. Sally and Iussein share a passion for footwear, especially tashionable footwear. After their first meetine Sally and Hassein kept in touch, and often met at various footwear shows or when Sally was an buring trips to Montreal. The last tirne they met was in Milan, the shoe fashion Mecca of the world, and thared their plans for the future. It turned but that they were beth tired of working in a large city and would lke to move to a smaller town in Ontario. However, there were very tew jobs available, and those that came up otlered peor salaries campared to their Montreal and Toronto wages. Although neither saw themselves as entrepreneurs, they had what every entrepreneur needs; indastry experience or what venture capitalats call "domain" experience. As well, both had managed to save some money since eraduation. They also had another entrepreneurial trait. passion, in shis case for everything to do with shoes. They discovered they had both been to the Bata 5 boe Museum in Toronto several tintes, and they both loved ltalian shoes. After many late night discussions, Saly and Hursein decided to team up and either start a shoe store or buy an ewsting one. Sally and Hussein incorpocated a company called H \& 5 . Footwear inc, and lasued themselves 100 shares each, They each put $25 , 000 into the company, and arranged for a tentative bank loan of SS0,000 from a major bank. They began focking at mid-siae towns in Oriario. Their criteria alse included a cesmepolian culture and bie-town amenties. They drew up a list which included tondon, Guelph, kingsten, and Windsar, all university tewns with many ameritiet, relatively robust markets, and growing populations. Since Sally and Hussein are bath avid kayakers and Kingstan had the most appeal far water sperts, they began to look around kingston for a wite for their shoe store or for a shoe store to buy. They found a thoe store for sale on Princess Street in dowentown Xingston. The cwner wished to retire and had purchased a condominiurm in Florida. Neither his son ner his daughter was interested in taling dver the atore, so he decided to well his business as an ongoing concern. He started the store in 1985 and built is up to $500 , 000 in revenue (2011), with one full time and two parttime employees. The premises are rented on a fris-year renewable lease with two and a haif .

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RunHeavy Corporation (RHC) is a corporation that manages a local band. It had the following activities during its first month. Prepare journal entries to record the transactions and appropriate adjustments. I have completed every journal entry correctly except for letter i. Please help and show me how you found the income before tax, I have tried everything and cannot seem to find the right answer! [The following information applies to the questions displayed below.] RunHeavy Corporation (RHC) is a corporation that manages a local band. It had the following activities during its first month. a. RHC was formed with an investment of $10 , 200 cosh, paid in by the leader of the band on January 3 in exchange for common stock. b. On January 4, RHC purchased music equipment by paying $1 , 000 cash and signing an $9 , 200 promissory note payable in three years. c. On January 5. RHC booked the band for six concert events, at a price of $2 , 600 each, but no cash was collected yet. d. Of the six events, four were completed between January 10 and 20 . e. On January 22, cash was collected for three of the four events. f . The other two bookings were for February concerts, but on January 24, RHC collected half of the $2 , 600 fee for one of them. 9. On January 27, RHC paid $2 , 140 cash for the band's travel-related costs. h. On January 28, RHC paid its band members a total of $2 , 100 cash for salaries and wages for the first three events. 1. As of January 31, the band members hadn't yet been paid wages for the fourth event completed in January, but they would be paid in February at the same rate as for the first three events. 1. As of January 31. RHC has not yet recorded the \$111 of monthly depreciation on the equipment. k. Also, RHC has not yet paid or recorded the $69 interest owed on the promissory note at January 31. 1. RHC is subject to a 25% tax rate on the company's income before tax. .

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