All categories

3 years ago

Larkin Company accumulated the following standard cost data concerning product I-Tal.

Business

1 answer:

Alex_Xolod [135]3 years ago

6 0

Answer:

Standard cost per unit= $282.6

Explanation:

Giving the following information:

Direct materials per unit: 3.00 pounds at $4.20 per pound

Direct labor per unit: 9.00 hours at $12 per hour

Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $18.00 per direct labor hour

The standard cost per unit is the sum of direct material. direct labor, and allocated overhead:

Standard cost per unit= 3*4.2 + 9*12 + 9*18

Standard cost per unit= $282.6

You might be interested in

Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of operations, Pincus provided

Luba_88 [7]

Answer:

Pincus Associates

Journal Entries:

a. Debit Allowance for Uncollectibles $4,800

Credit Accounts Receivable $4,800

To write off uncollectible accounts.

b. Debit Bad Debts Expense $5,470

Credit Allowance for Uncollectibles $5,470

To record bad debts expense for the period.

Explanation:

a) Data and Calculations:

Services on account = $119,000

Uncollectibles written off = $4,800

Cash collections on accounts = $100,800

Accounts receivable balance = $13,400 ($119,000 - 4,800 - 100,800)

Estimated uncollectible allowance = 5% of accounts receivable balance

= $670 ($13,400 * 5%)

Analysis:

a. Allowance for Uncollectibles $4,800 Accounts Receivable $4,800

b. Bad Debts Expense $5,470 Allowance for Uncollectibles $5,470 ($4,800 + $670)

4 0

2 years ago

Suppose, you have $20,000 in your account. You receive a monthly

Setler [38]

Answer:

According to the data provided the opportunity costs is detailed below:

Initial Balance $20,000

Monthly interst $200

Investment $500

________________________

The Opportunity cost is $500

Explanation:

The opportunity cost is the price you pay for not choosing best second alternative when you make a decision. In this case the person has three options:

1. Spending the money

2. Save the money

3. Invest the money

Once the money is spent the opportunity costs is generated and it is measured by the interest rate lost for not keeping the money in the investment that will generate an interest rate of $500 monthly.

3 0

3 years ago

Which section of the business plan contains information about the financial history of the company? A. Financial Analysis B. Fun

Romashka [77]

I believe it is A if not then B hope this helps

6 0

3 years ago

Read 2 more answers

Why is it important to use the right strategies to beat competition?:

Cloud [144]

Answer:

Therefore, competitive strategy is essential for the survival of the product in the market. Having a new competitive strategy to beat rival companies or their products by renaming or redesigning their products will help the company to be more profitable and create an image new on the market.

3 0

2 years ago

Risk acceptance defines the quantity and nature of risk that organizations are willing to accept as they evaluate the trade-offs

NNADVOKAT [17]

Answer:

Tolerance

Explanation:

Risk tolerance: It is defined as level of risk that an organization is willing to take for completing any specific task. Evaluating the risk in the trade off between perfect security and unlimited accessibility as risk of security breach is still there instead of perfect security as there is unlimited accessibility, however, how much risk can be tolerated or accepted need to be evaluated and can be mitigated.

There are different technique been used to minimize the risk factors are:

Avoidance.
Reduction.
Sharing.
Retention.

5 0

3 years ago