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zhuklara [117]
4 years ago
10

Lean AccountingCom-Tel Inc. manufactures and assembles two models of smartphones-the Tiger Model and the Lion Model. The process

consists of a lean cell for each product. The data that follow concern only the Lion Model lean cell.For the year, Com-Tel Inc. budgeted these costs for the Lion Model production cell:Conversion Cost Categories BudgetLabor $166,300 Supplies 63,000 Utilities 22,700 Total $252,000 Com-Tel plans 3,000 hours of production for the Lion Model cell for the year. The materials cost is $71 per unit. Each assembly requires 18 minutes of cell assembly time. There was no May 1 inventory for either Raw and In Process Inventory or Finished Goods Inventory.The following summary events took place in the Lion Model cell during May:Electronic parts were purchased to produce 10,200 Lion Model assemblies in May.Conversion costs were applied for 9,700 units of production in May.9,510 units were completed and transferred to finished goods in May.9,220 units were shipped to customers at a price of $336 per unit.If required, round your answers to the nearest cent.Required:1. Determine the budgeted cell conversion cost per hour.$ per hour2. Determine the budgeted cell conversion cost per unit.
Business
1 answer:
Vedmedyk [2.9K]4 years ago
3 0

Answer: 1. $84 per hour

2. $25.20 per unit

Explanation:

The conversion costs are manufacturing or the production costs that are necessary to convert raw materials into final products.

1. The budgeted cell conversion cost per hour will be:

= Budgeted Conversion Cost/Planned Hours of Production

= $252,000 ÷ 3000

= $84 per hour

2. The budgeted cell conversion cost per unit will be:

= Manufacturing Time × Cell Conversion Cost Rate

= 18/60 × $84

= $25.20 per unit

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Elenna [48]

Answer:

D. The amount a company originally paid for specialized equipment for a plant.

Explanation:

A sunk cost is the expenditure that a company has already incurred and cannot be retrieved or taken back. In other words, a sunk cost can be defined as the expenditure that is already paid and cannot be taken back.

Among the given options, an example of a sunk cost is the amount a company paid for specialized equipment. This is a prepaid amount that cannot be canceled or taken back, resulting in a fixed expenditure and can no longer be recovered.

Thus, the correct answer is option D.

7 0
3 years ago
You write one MBI July 139 call contract (equaling 100 shares) for a premium of $17. You hold the option until the expiration da
Bogdan [553]

Answer:

$600 loss

Explanation:

A call option is defined as a contract that exists between ba buyer and seller of a call option to exchange securities held at a particular price within a specific period.

To calculate the profit realised on the investment

Profit from call option= (150- 139) * 100

Profit from call option= $1,100

Profit from premium= 17 * 100

Profit from premium= $1,700

Profit on investment= Profit from call option - Profit from premium

Profit on investment = 1,100 - 1,700 = -$600

So there is a loss of $600

4 0
3 years ago
Read 2 more answers
Riverbed Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares of $50 par value preferred
masya89 [10]

Answer:

The answer is given below;

Explanation:

 Preference stocks  950*50    Dr.$47,500

 Paid in capital in excess of par-preference shares  Dr.$  13,300                                  

 (64-50)*950

  Common Stocks  1,900*10        Cr.$19,000

  Paid in capital in excess of par-common stocks    Cr.$41,800

   (64*950)-(1900*10)                                        

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3 years ago
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kolbaska11 [484]

Answer:

selling an investment for more than they paid for it

Hope this helps plz mark me brainliest

7 0
3 years ago
During 2017, Waterway Industries expected Job No. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. Wa
ELEN [110]

Answer:

$945,000

Explanation:

The computation of the amount transferred to the finished goods is shown below:

= Material + labor + overhead

= $470,000 + $190,000 + $190,000 × $300,000 ÷ $200,000

= $470,000 + $190,000 + $285,000

= $945,000

hence, the amount transferred is $945,000

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3 years ago
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