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Sunny_sXe [5.5K]
3 years ago
12

Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets

to its commercial customers. Company personnel who earn $260,000 typically perform both tasks; other firm-wide overhead is expected to total $60,000. These costs are allocated as follows:
Bouquet Production Delivery Other
Wages and salaries 60 % 30 % 10 %
Other overhead 50 % 40 % 10 %
Skyline anticipates making 20,500 bouquets and 4,000 deliveries in the upcoming year.
1. The cost of wages and salaries and other overhead that would be charged to each delivery is closest to __________?
2.The cost of wages and salaries and other overhead that would be charged to each delivery is closest to __________?
Business
1 answer:
Jet001 [13]3 years ago
6 0

Answer:

1. $9.07

2. $25.5

Explanation:

(a) Total Cost:

= 260,000 × 60% (Wages and Salaries) + 60,000 × 50% (Other Overhead)

= $186,000

Cost of Wages and Salaries and Other Overheads Charged to Each Bouquet:

= Total Cost ÷ Total Bouquets

= $186,000 ÷ 20,500

= $9.07

(b) Total Cost:

= 260,000 × 30% (Wages and Salaries) + 60,000 × 40% (Other Overhead)

= $102,000

Cost of Wages and Salaries and Other Overheads Charged to Each Delivery:

= Total Cost ÷ Total Delivery

= $102,000 ÷ 4,000

= $25.5

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5 0
2 years ago
term fixed price contract to build an office tower for​ $10,000,000. In the first year of the contract Tullis incurs​ $3,000,000
almond37 [142]

Answer: $750,000

Explanation:

Given that,

Fixed price contract = $10,000,000

Cost incurred in the first year = $3,000,000

Remaining costs to complete =​ $5,000,000

Tullis billed =​ $4,000,000 in year 1

Collected​ by the end of the year = $3,500,000

Percentage of work completed = \frac{Expenditures\ Incurred\ from\ Inception\ to\ Date}{Total\ Estimated\ Costs\ for\ the\ Contract}

= \frac{3}{8} \times 100percent

= 37.5%

Revenue recognized = 37.5% of $10,000,000

                                    = $3,750,000

Income recognized = Revenue recognized - Cost incurred in the first year

                                 = $3,750,000 - $3,000,000

                                 = $750,000

8 0
3 years ago
A combination of high crude oil prices and government subsidies for ethanol have led to a sharp increase in the demand for corn
Firlakuza [10]

Answer:

a) Increase

b) Increase

c) Increase

d) Increase

e) Increase

Explanation:

a) The price of corn

The increase in the demand for corn will cause an increase in the price of corn

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The quantity of corn supplied will increase rapidly in the short run before equilibrium will be established in the market

c) The cost of producing soybeans and wheat crops will Increase due to the High demand for corn hence the supply will decrease as well

d) The price of cereals and other products produced from corn will Increase as well

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3 0
3 years ago
Janice’s firm is entering a new market and she plans to set prices to take sales away from the established market leader even th
miv72 [106K]

Answer:

The correct answer is Sales-orientation.

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The orientation towards sales is seen in sectors where competition is high, usually when supply is slightly higher than demand. In these cases, if consumers are not pushed, they will not buy the company's products.

Companies are going to focus on manufacturing more products than demand is able to absorb. In order to sell them all, aggressive sales and communication policies will be used.

6 0
3 years ago
In a command economy, Individuals fellow thir self-interest without government intervention True or False İf false, correct the
Ostrovityanka [42]

Answer:

False

Explanation:

In a command or planned economy, the factors of production are owned and controlled by the government.  The government makes all the significant economic decisions such as production, distribution, and pricing.  

The government prepares a central plan for the entire economy. The plan determines the production level, the goods and services to be produced, and their prices.  The central government employs all workers. The private sector does not exist.

8 0
3 years ago
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