Question

The company's overhead costs of $58,000 are allocated based on labor cost. Assume 8,000 units of product A and 9,000 units of Product B are produced. What amount of production costs would be assigned to Product A

Answer 1

$9.7295 amount of production costs would be assigned to Product A

What is production ?

Production is the process of combining different material and immaterial inputs to create something for consumption. It is the act of producing an output, such as a good or service, that has value and contributes to people's utility.

Land, labor, capital, and entrepreneurship are the four production factors.

Production has six facets, according to Peterson and Anand (2004): technology, law and regulation, industry structure, organizational structure, occupational careers, and market.

The four factors of production are inputs used in various combinations to produce goods and services for a profit. Land, labor, capital, and entrepreneurship are the production factors. They are the supply inputs required.

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