Answer:
$32,000
Explanation:
Cost of goods sold refers to all direct expenses incurred in producing goods and excludes all selling and indirect costs.
Cost of goods sold = Sales value - Gross Profit
Gross profit = Sales value - Direct costs - overhead costs
Gross profit per unit = $120 - ($50 + $ 20 + $10)
Gross profit per unit = $40 per unit
Gross profit in value = $40 per unit × No of units = $40 × 400 units = $16,000
Budgeted sales value = Selling price per unit × Budgeted sales units
= $120 × 400 chairs = $48000
Thus, budgeted cost of goods sold = Budgeted sales value - Gross Profit in value
= $48000 - $16000 = $32000
<u>Note</u>: While computing gross profit, selling and administrative expenses would be excluded since those are used while computing net income. Also, cost of goods sold excludes selling and administrative i.e . indirect costs.
Answer:
a. All of the above
Explanation:
Attending refers to being present or being available for someone. Listening refers to patiently hearing the client and their issues.
Attending and listening are the ways which depict the trait of empathy, which refers to sympathizing with understanding and trying to experience others feelings.
At the same time, attending and listening activates many areas of brain which aids in effective communication and better comprehension.
Also, such traits serve as a basis for conducive working alliance between counselor and the client.
Answer:
$17,000 Favorable
Explanation:
Provided information, we have
Standard hours for each unit = 0.8 hours
Standard Rate per hour = $34
Actual quantity produced = 7,650 units
Actual labor hours used = 5,620
Actual rate per hour = $118,020/5,620 = $21 per hour
Standard hours for Actual output = 7,650 
0.8 = 6,120 hours
Labor Efficiency Variance = (Standard Hours - Actual Hours) Standard labor rate per hour
= (6,120 - 5,620) $34
= $17,000 Favorable
As the amount is positive and actual hours used is less than standard hours the variance is favorable.
<span>A work order is created as soon as the customer places the request for a product or service. Since the manufacturing or the creation of the item begins only after order is made, all the resources and the raw materials should be in place well before time.</span>
Answer:
3,000 $100 bills equivalent to $300,000
Explanation:
The economic order quantity (EOQ) is the optimum quantity of a good to be purchased or required at a time in order to minimize ordering and carrying costs in inventory.
EOQ = the square root of [(2 times the annual demand in units times the incremental cost to process an order) divided by (the incremental annual cost to carry one unit in inventory)]
- annual demand in units = 12,500 x 12 = 150,000
- incremental costs to process an order = $300
- incremental annual cost to carry one unit in inventory = 10% x 100 = $10
EOQ = √[(2 x 150,000 x $300) / $10] = √($90,000,000 / $10) = √9,000,000 = 3,000 bills
