Please include details and show formulas on how to complete the problem.. Thanks
Columbus Company provides the following ABC costing information: Activities- Total Costs/ Activity-cost drivers = Labor $336,000/ 8,000 hours
Gas $84,000/ 7,000 gallons
Invoices $180,000 /7,500 invoices
Total costs $600,000
The above activities used by their three departments are: Lawn Department labor- 3,100 hours.. Bush Department- labor 1,500 hours.. Plowing Department Labor 3,400 hours
Gas Lawn= 1,900 gallons... Bush= 900 gallons... Plowing= 4,200 gallons
Invoices Lawn= 1,300 invoices.... Bush= 400 invoices ...Plowing=5,800 invoices
If labor hours are used to allocate the non-labor, overhead costs, what is the overhead allocation rate? 10) A) $75.00 per hour B) $26.67 per hour C) $42.00 per hour D) $33.00 per hour
Which of the following is not an acceptable method of determining the required annual payment of federal income tax for corporations? A) 100 percent of the prior year's tax liability (with a few exceptions) B) 100 percent of the current year's tax liability C) 100 percent of the estimated current year tax liability using the annualized income method D) All of the choices are acceptable methods of determining the required annual payment of federal income tax for corporations. Explain. Explain.
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