Answer:
Total manufacturing cost of job 302 : $
Direct material cost 15,100
Direct labour cost(190hrs x $38) 7,220
Manufacturing overhead(190hrs x $19) 3,610
Total manufacturing cost 25,930
Overhead absorption rate = Budgeted overhead/Budgeted activity level
= $784,700/41,300 hrs
= $19
Explanation:
In this scenario, we need to add the direct material cost, direct labour cost and manufacturing overhead in order to obtain the total manufacturing cost. Overhead absorption rate is calculated from the company's budget provided in the question. Overhead is absorbed on direct labour hours. The direct labour hourly rate of $38 was provided in the question
A conflict of interest between the stockholders and managers of a firm is referred to as the agency problem (option c).
<h3>What is the agency problem?</h3>
The agency problem is a conflict of interest between the managers of the company and the principal (shareholders). The agency problem
occurs when the interest of the managers and the shareholders are not aligned.
For example, if the income of managers are tied to net income, it might motivate managers to undertake risky projects that might not maximise shareholders wealth. This would lead to agency problem.
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This promptness in business meetings exemplifies how the perceptions of <u>time </u>differ among nations.
<h3>What is the promptness in business meetings?</h3>
Promptness in business meetings is defined as a habit or characteristic of getting to business meetings earlier than the scheduled time to avoid any delay or unforeseen circumstances.
Americans value promptness in business meetings because it shows how punctual you're and how you'll be when delivering assignments and projects.
- However, it is common in Mexico and Spain for a meeting to start thirty minutes late.
This signifies how the perception of <u>time </u>differs among nations where time is being valued differently.
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Answer: $76
Explanation:
If Blue Wagon sells everything it produces, this means that the capacity of the factory is underutilised and so more goods can be produced.
The fixed cost for producing 3,000 tires will therefore be the fixed costs for producing 4,000 tires.
= 20 * 3,000
= $60,000
Total cost when 4,000 tires are produced is;
= Variable costs + fixed costs
= (38 * 4,000) + ( 14 * 4,000) + ( 9 * 4,000) + 60,000
= 152,000 + 56,000 + 36,000 + 60,000
= $304,000
Cost per tire;
= 304,000/4,000
= $76
Answer:
Date Account titles and Explanation Debit Credit
Bad Debt Expense $8,400
Allowance for doubtful account $8,400
($9,600 credit required - $1,200 already existing)
(To record bad debt expenses)
Particulars Amount
Account receivables $307,200
Less: Allowance for doubtful account <u>$9,600</u>
Net amount of accounts receivable <u>$297,600</u>
