Answer:
- total product costs incurred to make 27,500 units = $25.10 x 27,500 = $690,250
- total period costs incurred to make 27,500 units = $15.10 x 27,500 = $415,250
- total product costs incurred to make 31,000 units = $25.10 x 31,000 = $778,100
- total period costs incurred to make 24,000 units = $15.10 x 24,000 = $362,400
Explanation:
Average Cost per Unit
- Direct materials $8.90
- Direct labor $5.90
- Variable manufacturing overhead $3.40
- Fixed manufacturing overhead $6.90
- Fixed selling expense $5.40
- Fixed administrative expense $4.40
- Sales commissions $2.90
- Variable administrative expense $2.40
Product costs include direct labor, direct materials, production supplies, and factory overhead. Product costs per unit = $8.90 + $5.90 + $3.40 + $6.90 = $25.10
Period costs include selling and administrative expenses. Period costs per unit = $5.40 + $4.40 + $2.90 + $2.40 = $15.10
Answer:
2 Braided Customers
Explanation:
Given:
Services Rate per customer = 25 $
Marginal Revenue Product = 50 $
Marginal Product = (Marginal Revenue Product / Service rate per customer)
Marginal Product = 50 / 25
Marginal Product = 2 Braided Customers
Answer:
False
Explanation:
The assertion is false that when LIFO is used with the periodic inventory system, cost of goods sold is assigned costs from the most recent purchases at the point of each sale, rather than from the most recent purchases for the period.
Under this method it is <u>at the end of the accounting year that the Inventory account is adjusted to equal the cost of the merchandise that is unsold.</u>
It is important to note that under LIFO periodic (not LIFO perpetual) <u>we wait until the entire year is over before assigning the costs. </u>Then we flow the year's last costs first, even if those goods arrived after the last sale of the year.
Answer:
a. A job needs to be divided into types of work so that it can be coordinated in some logical way. ==>TRUE.
b. Work is the output that comes from the accomplishment of tasks. ==>FALSE.
c. Work is effort directed toward accomplishing results.==>TRUE.
d. Ideally, the work to be done in any organization should be significantly less than the amount of work that the organization needs to have done.==>FALSE
Explanation:
For a Job to be effectively executed, the steps required to carry out the job needs to be properly outlined, this itemized steps can be regarded as the work that needs to be done to properly execute the job.
Every work done has to be goal oriented, this is done to give the workers a sense of direction and also to avoid wasting time, energy and resources on things irrelevant to the job at hand.
Work done on an organization has to be equal to or more than it had planned to carry out in order to achieve the organization overall objectives.
