Andy's utility function for candy is. U(x) = 10vx. If Andy eats 64 pieces of candy,

Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any under o

BartSMP [9]

Answer:

A. $5,250

Explanation:

As for the provided details we have,

The total cost of work in process on 31 March = $14,000

In this amount included as cost of direct labor = $5,000

This means the remaining amount $14,000 - $5,000 = 9,000 relates to cost of direct material and cost of manufacturing overheads.

Also provided that manufacturing overheads are applied using the predetermined rate of 75% of direct labor.

Thus, amount charged to work in process inventory for manufacturing overheads shall be $5,000 direct labor cost $\times$ 75% = $3,750

Thus, direct material cost in work in process = $14,000 - $5,000 - $3,750 = $5,250

3 0

3 years ago

9. Suppose Betty saves $200 each month in her 401(k) account. How much less will her monthly take-home pay be than if she saved

Elenna [48]

Answer:

$160

Explanation:

The way 401(k) savings work is that employees can save from their earnings before tax is deducted, which means that on the $200 saved no tax is deducted, hence, the take of the employee reduces by $200

When there are savings, a tax of 20% would have been deducted from the $200, as a result, the employee would be left with $160($200-($200*20%)), which means that take-home would reduce by $40, the amount tax deducted.

The reduction in take-home=$200-$40

The reduction in take-home=$160

4 0

3 years ago

The "bail-out" money that went to giant financial institutions like citibank and goldman sachs, along with general motors and ch

allsm [11]

The bail-out money that exited to giant financial organizations like citibank and goldman sachs beside with general motors and Chrysler came from the troubled assets relief program. The troubled assets relief program is a program of the united states government to buy toxic assets and equity from financial organizations to reinforce its monetary sector that was employed into law by president george w. bush on october 3, 2008.

5 0

3 years ago

The salesperson's objective is to begin converting a prospect into a customer by creating a desire for the product or service du

Ne4ueva [31]

Answer: Presentation.

Explanation:

The presentation stage is the stage after the approach stage of personal sales, where the marketer introduces a product to a potential buyer and tries to sell the product by listing out the qualities of that product to the buyer.

5 0

3 years ago

Journalize the following transactions for Griffin Company. Assume a perpetual inventory system. Also, assume a constant gross pr

joja [24]

Answer:

1) October 1:

1.1

Debit Cost of Goods sold $3,600

Credit Merchandise $3,600

1.2

Debit Cash $6,000

Credit Revenue $6,000

2) October 7

2.1.

Debit Revenue $670

Credit Cash $670

2.2.

Debit Merchandise $402

Credit Cost of Goods sold $402

Explanation:

1. October 1: when sold goods, the company recorded Cost of Goods sold and revenue:

1.1

Debit Cost of Goods sold $3,600

Credit Merchandise $3,600

1.2

Debit Cash $6,000

Credit Revenue $6,000

2. October 7

The percentage of revenue that merchandise returned = $670/$6,000 = 11.17%

Assume a constant gross profit ratio for all items sold.

Cost of returned merchandise = $3,600 x 11.17% = $402

2.1.

Debit Revenue $670

Credit Cash $670

2.2.

Debit Merchandise $402

Credit Cost of Goods sold $402

5 0

3 years ago