Week 4 midterm accounting assessment

QUESTION 6

1. Alton Company has an overhead application rate of 160% and allocates overhead based on direct materials. During the current period, direct labor is $50,000 and direct materials used are $80,000. Determine the amount of overhead Alton Company should record in the current period.

   Save your time - order a paper!

   Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

   Order Paper Now

QUESTION 7

1. A corporation is authorized to issue 9,000 shares of $5 common stock. What should the corporation report as paid-in capital from the issuance of common stock?

QUESTION 8

1. What is customer orientation?

QUESTION 9

1. Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. The company declared a $2,700 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. What is the company’s earnings per share?

QUESTION 10

1. Canoe Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. Canoe Company’s production costs for the year were: direct labor, $30,000; direct materials, $50,000; and factory overhead applied, $6,000. What was the overhead application rate?

"Looking for a Similar Assignment? Order now and Get 15% Discount! Use Code "FIRST15"