What is Design Thinking? (simple definition)

Whats the differences between fans and customers

Mkey [24]

Fans are people that like your stuff , customers are people that buy your stuff

7 0

3 years ago

Mayer Company uses a process cost system. The Molding Department adds materials at the beginning of the process and conversion c

CaHeK987 [17]

Answer:

Mayer Company

MAYER COMPANY

Molding Department

Production Cost Report

For the Month Ended May 31, 2013

Units to be accounted for

Work in process, May 1 8,000

Started into Production 27,000

Total units 35,000

Equivalent Units:

Units accounted for Units Materials Conversion

Transferred out 30,000 30,000 30,000

Work in process, May 31 5,000 5,000 2,000

Total equivalent units 35,000 35,000 32,000

Costs Unit costs Materials Conversion Costs Total

Costs in May $140,000 $160,000 $300,000

Equivalent units 35,000 32,000

Unit costs $4.00 $5

Costs to be accounted for

Work in process, May 1 $60,000

Started into production $240,000

Total costs $300,000

Cost Reconciliation Schedule Materials Conversion Total cost

Costs accounted for

Transferred out $120,000 $150,000 $270,000

Work in process, May 31 20,000 10,000 30,000

Total costs accounted for $140,000 $160,000 $300,000

Explanation:

a) Data and Calculations:

Beginning WIP 75% complete to conversion

Ending WIP 40% complete to conversion

Work in process, May 31 5,000

Materials = 5,000 (100% * 5,000)

Conversion 2,000 (40% * 5,000)

4 0

3 years ago

Give an example of a natural monopoly industry operating in South Africa.

MariettaO [177]

An example of a natural monopoly industry operating in South Africa include "Eskom".

<h3>What is natural monopoly?</h3>

A natural monopoly occurs when there is an instance in which it is economically viable and better for a single entity to be in full and sole control of the production of a product or service.

Moreover, a natural monopoly is the fact that natural monopolies have extreme economies of scale. It can only start to become profitable when one single firm is able to service the majority of the market.

Learn more about natural monopoly, refer to the link:

brainly.com/question/4417882

#SPJ1

4 0

2 years ago

Greenwood Company manufactures two products; 15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwid

lbvjy [14]

Answer:

1) Plant-wide overhead rate = Total estimated overhead ÷ Direct labor hours

= $728,900 ÷ 10,000

= $73 per DLH

2) Product Y

manufacturing overhead cost = $73 × 8,700 = $635,100

Product Z

manufacturing overhead cost = $73 × 1300 = $94,900

3) Machining ⇒ $227,000 ÷ 11,000 = $21 per MH

<h2>Explanation:</h2>

<u>Using ABC</u>

Step 1: Identify cost activities and their cost drivers

- Machining ⇒ Machine hours

- Machine Setups ⇒ No. of setups

- Production design ⇒ No. of products

- General factory ⇒ Direct Labor hours

Step 2: Assign overhead costs to activities identified

- Machining ⇒ $227,000

- Machine Setups ⇒ $153,900

- Production design ⇒ $91,000

- General factory ⇒ $257,000

<em>Sum</em> = <em>$728,900</em>

Step 3: Calculate Total Estimated Cost Driver Activity

Machining ⇒ 11,000 MHs

- Machine Setups ⇒ 270 setups

- Production design ⇒ 2 products

- General factory ⇒ 10,000 DLHs

Step 4: Calculate overhead rates

- Machining ⇒ $227,000 ÷ 11,000 = $21 per MH

- Machine Setups ⇒ $153,900 ÷ 270 = $570 per setup

- Production design ⇒ $91,000 ÷ 2 = $45,500 per product

- General factory ⇒ $257,000 ÷ 10,000 = $26 per DLH

Step 5: Apply overheads to product

Product Y

- Machining ⇒ 8,700 × $21 per MH =$182,700

- Machine Setups ⇒ 60 × $570 per setup = $34,200

- Production design ⇒ 1 × $45,500 per product = $45,500

- General factory ⇒ 8,700 × $26 per DLH = $226,200

Product Z

- Machining ⇒ 2,300 × $21 per MH =$48,300

- Machine Setups ⇒ 210 × $570 per setup = $119,700

- Production design ⇒ 1 × $45,500 per product = $45,500

- General factory ⇒ 1300 × $26 per DLH = $33,800

<u>Using Plant-wide overhead </u>

Plant-wide overhead rate = Total estimated overhead ÷ Direct labor hours

= $728,900 ÷ 10,000

= $73 per DLH

Product Y

manufacturing overhead cost = $73 × 8,700 = $635,100

Product Z

manufacturing overhead cost = $73 × 1300 = $94,900

5 0

4 years ago

Garth owns two all-terrain vehicles (ATVs), worth $1,000 and $500, respectively. Helen agrees to buy "Garth’s ATV" for $750. Gar

Jobisdone [24]

Answer:

There is no contract since both Helen and Garth made a mutual mistake.

In contract law, a mutual mistake occurs when all the parties involved (Helen and Garth) are mistaken about important material facts that affect the contract (which ATV is being sold). The parties intend to perform but what they consider being part of the contract is not what the other party considers part of the contract. When both parties make a mutual mistake, the contract is cancelled.

Mutual mistakes are not on purpose, they are mistakes committed in good faith.

5 0

3 years ago