In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost

In December 2014, Infodeo established its predetermined overhead rate for movies produced during year 2015 by using the following cost predictions: overhead costs, $2,025,000,and direct labor costs, $450,000. At year-end 2015, the company’s records show that actual overhead costs for the year are $2,431,600. Actual direct labor cost had been assigned to jobs as follows. Movies completed and released $ 500,000 Movies still in production 43,000 Total actual direct labor cost $ 543,000 1. Determine the predetermined overhead rate for year 2015. 2&3. Enter the overhead costs incurred and the amounts applied during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplied. 4. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold.

Two banks in the area offer 30-year, $230,000 mortgages at 4.8 percent and charge a $3,900 loan

Two banks in the area offer 30-year, $230,000 mortgages at 4.8 percent and charge a $3,900 loan application fee. However, the application fee charged by Insecurity Bank and Trust is refundable if the loan application is denied, whereas that charged by I.M. Greedy and Sons Mortgage Bank is not. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR, but this is not required with nonrefundable fees (presumably because refundable fees are part of the loan rather than a fee). What are the EARs on these two loans? What are the APRs?  

Explain why each of the following situations is an agency problem and what costs to the firm might

Explain why each of the following situations is an agency problem and what costs to the firm might result from it.  Suggest how the problem might be dealt with short of firing the​ individual(s) involved.

a.  The front desk receptionist routinely takes an extra 20 minutes of lunch time to run personal errands.

b.  Division managers are padding cost estimates so as to show​ short-term efficiency gains when the costs come in lower than the estimates.

c.  The​ firm's chief executive officer has had secret talks with a competitor about the possibility of a merger in which she would become the CEO of the combined firms.

d.  A branch manager lays off experienced​ full-time employees and staffs customer service positions with​ part-time or temporary workers to lower employment costs and raise this​ year's branch profit.  The​ manager's bonus is based on profitability.

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