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1 year ago

The total cost of a job is calculated by adding the total of direct labor cost, direct materials cost, and:

1 answer:

7 0

The total cost of a job is calculated by adding the total direct labor cost, direct materials cost, and: applied manufacturing overhead cost

The total cost of a job is also called job costing. Job costing is used by the professional or organization when they complete a job for a client. Because job costing is important for professionals who do different or custom jobs to track the financial cost of each job. Each job has different parameters so the cost to complete the job varies from job to job.

The total cost of a job is a key to measuring the revenue. Professionals compute the total job cost after completing the job or at the end of the job. However, they use a sheet to record cost information about the job.

The formula for the total cost of a job is given below:

Total cost of a job = direct labor cost + direct materials cost + applied manufacturing overhead cost

You can learn more about job costing at

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Chevelle, Inc. has sales of $487,000 and costs of $394,500. The depreciation expense is $43,800. Interest paid equals $18,200 an

laiz [17]

Answer:

The correct answer is $13,325.

Explanation:

According to the scenario, the given data are as follows:

Total sales = $487,000

Cost of goods sold = $394,500

Depreciation expense = $43,800

Interest paid = $18,200

dividends paid = $6,500

Tax rate = 35%

so, first we calculate net income.

Net income = ( Total sales - Cost of goods sold - Depreciation expense - Interest paid ) - 35%

= ($487,000 - $394,000 - $43,800 - $18200 ) - 35%

= $30,500 - $10,675

= $19,825

Addition to retained earnings = Net income - Dividends Paid

= $19,825 - $6,500

= $13,325

Hence, the correct answer is $13,325.

6 0

3 years ago

Bedrock Company reported a December 31 ending inventory balance of $414,000. The following additional information is also availa

Paha777 [63]

Answer:

The corrected balance of ending inventory is $391200 and option d is the correct answer.

Explanation:

The amount of goods sent on consignment by Bedrock of $72400 are already included in the inventory value. These goods belong to Bedrock, the consignor, until they are sold off by the consignee. Thus, no adjustment is needed for this amount.

The ending inventory balance only needs one adjustment that is for office supplies. The office supplies are office consumables and a separate asset than the inventory of the business which is solely for the purpose of selling operations. Thus, the office supplies amount will be deducted from the inventory value.

The correct balance = 414000 - 22800 = $391200

3 0

3 years ago

Tom is trying to save money by having a telephonic conversation with an important customer instead of flying in to talk to him d

Katyanochek1 [597]

The answer in the given spaces provides is; effectiveness and efficiency.

Tom is trading communication effectiveness because he chooses to call the customer and that he is trading it with communication efficiency because it is more efficient if he is to engage of flying and talking to the customer directly.

7 0

4 years ago

EA6.

fredd [130]

Answer:

1. Break-even in units is 150 units

2. Break-even in dollars is $60,000

3. Contribution Income Statement for 130 units

Marlin Motors

Income Statement

For the month ended November 30

Sales revenue (130 x 400) $52,000

Variable cost (130 x 160) (20,800)

Contribution margin $31,200

Fixed cost (36,000)

Loss $4,800

4. Units to sell is 350

5. Dollars sale is $140,000

6. Contribution Income Statement for $200,000 sales revenue

Marlin Motors

Income Statement

For the month ended February

Sales revenue (500 x 400) $200,000

Variable cost (500 x 160) (80,000)

Contribution margin $120,000

Fixed cost (36,000)

Profit $84,000

Explanation:

1. To compute the Break-even point in units,

Formula is BEP = total fixed cost / unit contribution margin

Step 1. Compute the unit contribution margin

Unit selling price $400

Less : variable cost 160

Unit contribution margin $240

Step 2. compute the unit break-even in units using the formula.

BEP = total fixed cost / unit contribution margin

BEP = $36,000 / 240

BEP = 150 units

2. To compute the Break-even point in dollars,

Formula is BES = total fixed cost / contribution margin ratio

Step 1. Compute the contribution margin ratio

Unit selling price $400

Less : variable cost 160

Unit contribution margin $240

So, $240 divided by $400 equals 60% (CMR)

Step 2. compute the unit break-even in dollars using the formula.

BEP = total fixed cost / contribution margin ratio

BEP = $36,000 / 60%

BEP = $60,000

3. To prepare the contribution margin income statement, we will multiply the units sold of 130 units by $400 unit selling price to get the sales revenue. Then multiply 130 units by $160 to get the variable cost. Further illustration below;

Sales revenue (130 x 400) $52,000

Variable cost (130 x 160) (20,800)

Contribution margin $31,200

Fixed cost (36,000)

Loss $4,800

4. To compute the units to sell to realize the target profit we will use the formula:

(Total fixed cost + Target profit )/ unit contribution margin

Step 1. Compute the unit contribution margin

Unit selling price $400

Less : variable cost 160

Unit contribution margin $240

Step 2. compute the units to sell using the formula.

(Total fixed cost + target profit) / unit contribution margin

($36,000 + $48,000) / 240

Answer is 350 units

5. To compute the sales in dollars to realize the target profit of $48,000,

Formula is (Total fixed cost + target profit) / contribution margin ratio

Step 1. Compute the contribution margin ratio

Unit selling price $400

Less : variable cost 160

Unit contribution margin $240

So, $240 divided by $400 equals 60% (CMR)

Step 2. compute the target sales in dollars using the formula.

(Total fixed cost + target profit) / contribution margin ratio

($36,000 + $48,000) / 60%

$84,000 / 60%

Answer is $140,000

6. Contribution Income Statement for $200,000 sales revenue. FIRST we must determine how many unit are sold to have that sales revenue. $200,000 sales revenue divided by unit selling price of $400 equals 500 units. To further illustrate, see presentation below.

$200,000 / $400 = 500 units

Marlin Motors

Income Statement

For the month ended February

Sales revenue (500 x 400) $200,000

Variable cost (500 x 160) (80,000)

Contribution margin $120,000

Fixed cost (36,000)

Profit $84,000

7 0

3 years ago

In April 2013, Sparkle Enterprises purchased the Crimson Mine at a cost of $18,000,000. The mine is estimated to contain 500,000

DaniilM [7]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

In April 2013, Sparkle Enterprises purchased the Crimson Mine for $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold.

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= (16,000,000/500,000)*120,000= $3,840,000

6 0

3 years ago