Question
Select the best answer for the question 3. Koogle Corporation uses residual income to evaluate the...
Select the best answer for the question 3. Koogle Corporation uses residual income to evaluate the performance of its divisions. The company's minimum required rate of return is 13%. In August, the commercial products division had average operating assets of $530,000 and net operating income of $76,700. What was the commercial products division's residual income in August? A. ($9,971) B. ($7,800) C. $9.971 D. $7,800 Mark for review (Will be highlighted on the review page)
4. Hair Corporation bases its predetermined overhead rate on variable manufacturing overhead cost of $9.50 per machine-hour and fixed manufacturing overhead cost of $947,672 per period. If the denominator level of activity is 8,900 machine-hours, what would be the predetermined overhead rate? A. $9.50 B. $106.48 C. $950 00 D. $115 98
Answers
3.
Residual income = Operating income - Required return
= 76,700 - (530,000*13%)
= 7800
Option D is the answer
.
4.
Predetermined overhead rate = Estimated overhead/Estimated machine hours
= (9.50*8900 + 947,672)/8900
= 115.98
Option D is the answer
Comment if you face any issues
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