Answer:
Total unitary manufacturing cost= $32
Explanation:
Giving the following information:
Direct materials $ 13
Direct labor $ 5
Variable manufacturing overhead $5
Fixed manufacturing overhead per year $90,000
Units produced= 10,000 units.
<u>The absorption costing method includes all costs related to production, both fixed and variable. </u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unitary fixed overhead= 90,000/10,000= $9
Total unitary manufacturing cost= 13 + 5 + 5 + 9
Total unitary manufacturing cost= $32
Answer:
$8.20/Direct Labor hours
Explanation:
Cost of performing engine repair work = Shop and repair equipment depreciation + Shop supervisor salaries + Shop property taxes + Shop supplies
Cost of performing engine repair work = $40,000 + $133,000 + $22,000 + $10,000
Cost of performing engine repair work = $205,000
Direct Labor Hours = Direct Labor/Direct Labor rate
Direct Labor Hours = 500,000/$20 per hour
Direct Labor Hours = 25,000 hours
Predetermined shop overhead rate per direct labor hour = $205,000 / 25,000 Hours = $8.20/Direct Labor hours
Inventory costing methods place primary reliance on assumptions about the flow of goods
Complete Question:
Pribuss Engineering prepares its financial statements according to International Financial Reporting Standards. During 2018, the company incurred the following costs related to a new product design:
Research for New Design $2.4M
DVMPT of New Product $1.3M
Patent Filing Fees $52K
The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed and the new product was patented before the end of the 2018 fiscal year. What amount should Pribuss expense in its 2018 income statement related to the above expenditures?
Answer:
The Research expenses of $2.4M that are written as expense in the Income statement and the Development costs of $1.3M and patent legal fees of $53k are capitalized.
Explanation:
The reason is that the International Standard IAS 38 Intangible Assets says that the expenditure incurred on the research that hasn't entered development phase must be written as expense in the year and the expenditure incurred on the development phase of the research outcomes must be capitalized to the extent it is ready for use. In this case $1.3M is clearly a development cost and patent legal fees of $53k is the expenditure that will prepare the asset and making it ready for use, so it must also be capitalized.
Ukraine and its regions have a one-of-a-kind opportunity to benefit from international outsourcing.
- Due to the possibility of positioning in today's market as both a provider of outsourcing services and a customer, Ukraine and its regions have a one-of-a-kind opportunity to benefit from international outsourcing.
- In the first case, this can be accomplished through an appealing ratio of high skills to low wages, as well as a satisfactory level of infrastructure development; in the second case, it can be accomplished by gaining access to cheaper or scarce resources, new technologies, and best business practices, which serves as the foundation for the transition of Ukrainian enterprises to innovative development.
- Given the benefits and opportunities that the customer company receives when using outsourcing, it is an effective way of doing business.
- The innovative outsourcing business model is an important direction of modern business development in the global marketplace.
- Personnel outsourcing is now an effective tool for improving the performance of any enterprise, taking into account the aforementioned benefits and limitations that the customer receives in their application.
- However, outsourcing should not be regarded as a universal tool for resolving enterprise issues and problems, as some tasks cannot be delegated to independent professionals.
- Any enterprise's business strategy must be consistent with the potential risks.
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