BreBreDoeCCx
27.06.2019 •
Business
In the 2013 third quarter, we issued $350 million aggregate principal amount of 3.4 percent series m notes due 2020 (the “series m notes”). we received net proceeds of approximately $345 million from the offering, after deducting the underwriting discount and estimated expenses. we pay interest on the series m notes on april 15 and october 15 of each year, commencing on april 15, 2014.these series m notes are described as: series m notes, interest rate of 3.4%, face amount of $350, maturing october 15, 2020 (effective interest rate of 3.6%)(a) what journal entry would have been recorded in the third quarter of 2013 to record the issuance of the series m notes? (b) record the interest payment and interest expense on april 15 and october 15, 2014. assume the effective interest method, and record your responses to the nearest thousand dollars.april 15: october 15: (c) assume that, at the end of 2014, the prevailing market rate for interest obligations similar to these notes was 4.0%. what would be the approximate net carrying or book value of the notes at the year end? explain.
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Ответ:
b. $30.00 per hour
Explanation:
Overhead application rate = Budgeted Overhead / Budgeted Activity
= $900,000 / 30,000 labor hours
= $30 per direct labor hour
Conclusion :
The overhead application rate is $30.00 per hour.