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3 years ago

Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4

Business

1 answer:

Vikentia [17]3 years ago

8 0

Answer:

Job No 306 351,000 Cost Of Goods Sold

Job No 307 500,000 Finished Goods Inventory

Job No 308 256,500 Work In Process Inventory

Explanation:

We add the March balance and the April balances for each of the jobs to get the desired results.

Marcelino Co

Job No 306

March

Direct Materials 25000

Direct Labor 25000

Applied Overhead 12500

Opening Work In Process 62500

April

Direct Materials 131000

Direct Labor 105000

Applied Overhead (50% of 105,000) 52,500

Total Costs Added In April 288500

Total Costs 351,000

Status on April 30 Finished & Sold

Included in Cost Of Goods Sold

Job No 307

March

Direct Materials 40000

Direct Labor 18000

Applied Overhead 9000

Opening Work In Process 67,000

April

Direct Materials 205000

Direct Labor 152000

Applied Overhead (50% of 152,000) 76,000

Total Costs Added In April 433,000

Total Costs 500,000

Status on April 30 Finished & Unsold

Included in Finished Goods Inventory

Job No 308

March

Direct Materials ------

Direct Labor --------

Applied Overhead -------

Opening Work In Process ------

April

Direct Materials 105000

Direct Labor 101000

Applied Overhead (50% of 101,000) 50,500

Total Costs Added In April 256,500

Total Costs 256,500

Status on April 30 In Process

Included in Work In Process Inventory

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The emphasis on keeping customers for long periods of time is the central focus of ______ value and the reason firms focus on cu

Archy [21]

Answer:

Customer Lifetime Value

Explanation:

Customer Lifetime Value is a measure of how much amount of money a customer spends on your business/products/services over the course of his whole lifetime.

It is a predictor of how well you are doing to retain your existing customers.

Why is it important?

suppose you spend $10 to advertise your product (belt) and a customer buys 5 belts on average every year for 15 years. You get $12 profit for each belt sold.

$12*5*15= 900$ $

Subtract the advertising cost

$900-10=890$ $ This is your customer lifetime value

Now imagine what would have happen if we had to sell these belts to 75 different customers?

The advertising cost to attract 75 customers would have been too much and hence net profit and customer lifetime value would be very less.

$75*10=750$ $

$900-750=150$ $

This is why customer lifetime value is important and businesses focus on retaining their customers for longer periods.

3 0

2 years ago

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. T

Zepler [3.9K]

Answer:

revenue recognized

2018 = $2,800,000

2019 = $4,500,000

2020 = $2,700,000

gross profit

2018 = $616,000

2019 = $990,000

2020 = $383,400

Explanation:

Percentage of 2018 2019 2020

completion method

Cost incurred in $0 $2,184,000 $5,694,000

previous year

+ Cost incurred $2,184,000 $3,510,000 $2,316,600

during the year

Total cost incurred $2,184,000 $5,694,000 $8,010,600

+ Estimated cost to $5,616,000 $2,106,000 $0

be incurred

Total estimated cost $7,800,000 $7,800,000 $8,010,600

to be incurred

Percentage of 28% 73% 100%

completion

Total revenue $10,000,000 $10,000,000 $10,000,000

Total revenue $2,800,000 $7,300,000 $10,000,000

recognized (% of completion x total revenue)

- Revenue recognized ($0) ($2,800,000) ($7,200,000)

in previous year

= revenue recognized $2,800,000 $4,500,000 $2,700,000

in current year

gain/loss 2018 2019 2020

Revenue $2,800,000 $4,500,000 $2,700,000

- Cost incurred ($2,184,000) ($3,510,000) ($2,316,600)

Gross profit $616,000 $990,000 $383,400

8 0

2 years ago

Estimate the cost of expanding a planned new clinic by 25,000 ft2. The appropriate capacity exponent is 0.62, and the budget est

jeka57 [31]

Answer:

cost of expansion = $1389859.55

Explanation:

Given data:

Original size = 185,000 ft^2

New expansion = 25000 ft^2

capacity component = 0.62

total cost for original size of clinic is = $17 million

Size of new clinic = 185,000 + 25,000 = 210,000 ft^2

cost of new clinic $= 17,000,000 \times [\frac{size\ of\ new\ clinic}{185,000}]^{0.62}$

cost of new clinic = $17,000,000 \times [\frac{210,000}{185,000}]^{0.62}$

cost of new clinic = $18,389,859.56

cost of expansion = cost of 210,000 ft^2 - cost of 185,000 ft^2

= 18,389,859.56- 17,000,000

cost of expansion = $1389859.55

4 0

3 years ago

Some ways aptitude can be learned include

juin [17]

Answer: formal education

experience

Explanation:

Aptitude could be described as the capability to learn a particular job or skill. The vital way of learning and aptitude is by formal education experience. Formal education experience is a structured system of learning whereby the students are trained by teachers for a certain period of time. The environment are a classroom type which involves the student making use of various learning material, the learning process cuts across various fields of life.

7 0

3 years ago

A limited liability company is created through filing the ________ with a state official.

krok68 [10]

The formation of a limited liability company is accomplished by filing the limited liability company (with a state official.

A limited liability company is a corporate structure that protects its owners from being personally sued for repayment of the company's debts or liabilities (LLC).

How we form an LLC?

Although the rules for LLCs differ per state, there are some broad similarities. The first step for owners or members is to pick a name.
Articles of incorporation are filed, together with a fee paid to the state. After that, the articles of incorporation can be recorded and filed with the state.
These articles define each LLC member's rights, responsibilities, powers, liabilities, and other obligations.
The paperwork also include the names and addresses of the LLC's members, the name of the registered agent, and the company statement of purpose.

To learn more about LLC

Visit: brainly.com/question/14151441

#SPJ4

3 0

1 year ago