Answer:
(a) Total manufacturing costs = $685,000
(b) Total cost of work in process = $721,000
Explanation:
(a) Compute total manufacturing costs.
Total manufacturing cost can be described as the total cost that a manufacturing company incurred within a reporting period to produce goods. This can be computed using the information provided in the question as follows:
Total manufacturing cost = Direct materials used + Direct Labor + Total manufacturing overhead = $199,000 + $238,000 + $248,000 = $685,000
(b) Compute total cost of work in process.
Total cost of work in process refers to the aggregate cost of partially completed goods. This can be computed using the information provided in the question as follows:
Total cost of work in process = Beginning work in process + Total manufacturing costs = $36,000 + $685,000 = $721,000
Answer:
d. 15 chairs/worker/day
Explanation:
Given that
Average of standard dining chairs = 450
Number of employees = 6
Number of days in a week = 5
So, The formula and the computation of the labor productivity of this operation is presented below:
Labor Productivity = Output ÷ Labor Input
where,
Output = 450 standard dining chairs
Labor output = 6 employees × 5 days in a week = 30
So, labor productivity is
= 450 ÷ 30
= 15 chairs per worker per day
Answer:
False
Explanation:
Arbitrage refers to buying and selling stocks, commodities, bonds, currencies, or any other type of security. This process is carried out simultaneously, and a profit is made when the purchase price is lower than the selling price. E.g. a trader that purchases gold from a European seller and immediately sells it to an Asian buyer at a slightly higher price.
As technology advances, arbitrage has become more difficult to carry out because information is available to everyone. Before, a company could purchase a good (e.g. beef) in Texas and sell it at a higher price to a buyer in New York.
Answer:
Credit life Insurance
Explanation:
The scenario describes Credit life insurance
This is a form of insurance policy that that is designed to pay off the balance on a policy holder's outstanding loan in case of death. It is designed for the protection of lender and heirs who are co signers from loss in case of the death of the borrower.
The insurance is liable to the balance on the loan as at the time of the death of the borrower.
Answer:
Following is given the solution for given question.
I hope it will help you a lot!
Explanation:
