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Nat2105 [25]
3 years ago
15

Two friends, rachel and joey, enjoy baking bread and making apple pies. rachel takes two hours to bake 1 loaf of bread and one h

our to make 1 pie. joey takes four hours to bake 1 loaf of bread and four hours to make 1 pie. what is joey's opportunity cost of baking 1 loaf of bread
Business
1 answer:
alisha [4.7K]3 years ago
6 0
<span>Joey's opportunity cost of baking 1 loaf of bread is 1 pie or 4 hours of time due to the fact that it takes Joey the same amount of time to bake 1 loaf of bread as it does to bake 1 pie.</span>
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Adjusting and paying accrued wages L.O. C1, P1 Pablo Management has seven part-time employees, each of whom earns $205 per day.
Marizza181 [45]

Answer:

1- Wages Expense (Dr.) $1,025

Wages Payable (Cr.) $1,025

2- Wages Expense (Dr.) $1,845

Wages Payable (Cr.) $1,025

Cash (Cr.) $820

Explanation:

Wages expense = $205 * 5 days a week = $1,025 per week.

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Conor broke his wrist while playing basketball in the backyard. He ended up in the hospital. After an X-ray, MRI, doctor visit a
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$6,000

Explanation:

A deductible is the amount Conor has to pay before his medical bills and prescriptions start getting coverage from his insurance.

Step 1: 10,000 - 2,000 = 8,000

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Step 2: 20% of 8,000 or 0.20 times 8,000 = 1,600

Step 3: add $2,000 (the deductible you have to pay) and $1,600 (the co-pay)

Total amount that Conor will have to pay for the hospital: $3,600

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Houston Houston Office Equipment manufactures and sells metal shelving. It began operations on January​ 1,2014.
Vanyuwa [196]

Solution:

1) If 2 pounds of direct materials are used to make one unit of finished product, then 115,000 units × 2 lbs, or 230,000 lbs were used at $0.65 per lb of direct materials i.e. ($149,500 ÷ 230,000 lbs.).

The Formula for calculating Ending Direct Material Cost =  [Ending Direct Material Inventory * Cost per lb]

Therefore, Ending Direct Materials cost is 1,900 lbs. * $0.65 = $1,235.

2) Manufacturing Costs for 115,000 units  

   Variable Fixed Total

   Direct materials costs – $149,500  + Direct manufacturing labor costs – 31,500  + Plant energy costs – 3,000  + Indirect manufacturing labor costs

 

   (Variable + Fixed) i.e. 15,000+12,000 - 27,000  + Other indirect manufacturing costs

 

   (Variable + Fixed) i.e. 10,000+32,000 - 42,000

    So, Cost of goods manufactured - $253,000

Average unit manufacturing cost = $253,000 ÷ 115,000 units

                                                       = $2.20 per unit

Finished Goods Inventory at Dec. 31, 2014 = $15,400

Therefore Finished goods inventory total units = $15400 / $2.20

                                                                                = 7,000 units

3) Units sold in 2014 = Beginning inventory + Production – Ending inventory

                                   = 0 + 115,000 –7,000

                                 = 108,000 units

Therefore, Selling price in 2014 = Total Revenues / Units Sold

                                                      = $583,200 ÷ 108,000

                                                      = $5.40 per unit

4) Operating Income for 2014

            Revenues(108,000 units sold × $5.40) = $583,200

           Cost of units sold:

            Beginning finished goods, Jan. 1, 2014 = $0

            Cost of goods manufactured = $253,000

           Cost of goods available for sale = $253,000

           Ending finished goods, Dec. 31, 2014 = $15,400

           So, Cost of Units sold ($253000 - $15400) = $237,600

Therefore, Gross margin = Total Revenue - Cost of Units Sold

                                          = $583,200 - $237,600

                                         = $345,600

Operating costs:  Marketing, distribution, and customer-service costs

Variable + Fixed i.e. ($126,000 + $48,000) = $174,000

Administrative costs = $57000

Total Operating Costs = $231,000

Therefore Operating income for 2014 = $345600 - $231,000

                                                                = $114600

3 0
3 years ago
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