Answer: 2. The actually cost for direct materials and direct labor and estimate cost of overhead.
Explanation: JOB ORDER COSTING or job costing is a system for assigning and accumulating manufacturing costs of individuals unit of output. This system is used when the various items produced are sufficiently different from each other and each having a significant cost. (Like when a company's output consists of continuous flows of identical, low-cost units, the process costing system is more appropriate.)
Answer:
Option A is correct because the level of saving in percentage for company A is 2% (5000/250000). Whereas the level of saving in the company B is 1.5% which is lower than the savings of company A. This will increase the standard of life in the long run because greater the savings the greater is the amount invested in Financial assets which will decline the interest rate as the funds for investment are in excess it will decline the demand for loans. This investment will earn its investor more which will change his standard of life.
Remember standard of living is measured by:
GDP per capita= Total GDP/ Total population
So if the GDP per person is higher it means his saving are lower. And if the level of saving are lower then the standard of living will decline because the money available for investment is lower in amount. This will not save him enough to maintain his standard of living.
So its true because the level of saving rate of company A is higher this means the standard of living in the near future will also increase with faster pace.
Answer:
The utilities cost associated with 1,110 machine hours will be $10,505.
Explanation:
High Low method is a way to calculate the variable and fixed cost element of total cost using lowest level of activity and its cost and highest level of activity and its cost.
In this example The Highest activity of Machine hour is in the month of May and Lowest activity is in February.
Using high low method:
Variable cost = ( Highest activity cost - Lowest activity cost ) / ( Highest activity - Lowest activity )
Variable cost = ( Cost in May - Cost in February ) / ( Machine hours in May - Machine Hours in February)
Variable cost = ( $9,625 - $8,360 ) / ( 950 - 720 )
Variable cost = $1,265 / 230
Variable cost = $5.50 per machine hour
Fixed Cost = $8360 - ( 720 x $5.5) = $8360 - $3960 = $4,400
Utility cost of 1110 units = $4,400 + ( 1,110 x 5.5 ) = $4400 + $6,105 = $10,505
Answer:
Overhead absorption rate
= Overhead absorbed/Actual labour cost x 100
= $4,400/$800 x 100
= 550% of direct labour cost
Explanation:
Since the overhead absorbed is $4,400, there is need to divide the overhead absorbed by actual direct labour cost multiplied by 100. This gives the overhead application rate.
Answer:
1.The parties involved can ask the government to raise the allocation of funds to the student community service organization
2. Volunteers will be available to help out in the project
3. About $10000 will be the project cost(The cost of starting and finishing the project to meet the objectives and demands at hand)
Explanation:
Planning of a large party or an event is called a project. This is because, it was a specific party for a specific purpose and It was held on a specific date and time(beginning and end).
A project must have an objective . It must have stakeholders. This whose decision will greatly affect the outcome of the project
The following are the assumption made by the stakeholders of the project:
1.The parties involved can ask the government to raise the allocation of funds to the student community service organization
2. Volunteers will be available to help out in the project
3. About $10000 will be the project cost(The cost of starting and finishing the project to meet the objectives and demands at hand)
The needs identified are:
-Money to support food purchasing.
-Grow the volunteer force.
-Food donations.
-To teamwork and synergy with a common goal.