Isabelle Pty Ltd Uses a Budgeted Factory Overhead Rate to Apply

question 288

Essay

Isabelle Pty Ltd uses a budgeted factory overhead rate to apply overhead to production.The following data are available for the year ended 31 December 2018.
$\begin{array}{lll}&\text {Budgeted}&\text {Actual}\\ \text { Factory overhead } & \$ 675000 & \$ 716000 \\\text { Direct labour costs } & \$ 450000 & \$ 432000 \\\text { Direct labour-hours } & 12500 \mathrm{dlh} & 13325 \mathrm{dlh}\end{array}$

Required:
a.Determine the budgeted factory overhead rate based on direct labour-hours.
b.What is the applied overhead based on direct labour-hours?
c.Is overhead overapplied or underapplied? Explain.
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Understand the consequences and procedures for dissociation of a partner under the Revised Uniform Partnership Act (RUPA).

Define and discuss dissolution under the UPA, including causes.

Examine the impact of a partner's withdrawal on a partnership and creditor's rights under the UPA.

Analyze the distribution of assets and liabilities among partners upon dissolution of a partnership under the UPA.

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Definitions:

Behavioral Cardiology

A field of study focusing on the psychological aspects of cardiovascular health and the impact of behavior on heart disease.

CVD Risk

Refers to the likelihood of having cardiovascular disease, which includes conditions affecting the heart and blood vessels.

Psychosocial Risk Factors

Elements in a person's social and psychological environment that can increase their likelihood of developing a psychological disorder.

Hypertension

A chronic medical condition where the blood pressure in the arteries is persistently elevated, also known as high blood pressure.