$200.10 is the total direct labor cost for an 8-hour work day if a workers paid $15.00 per hour with an overhead charge of 1.45 and a personal time allowance of 1.15.
When a company incurs direct labor costs, it means that all of the expenses associated to paying employees' wages and other benefits for work that is directly relevant to the production of the company's goods or to the delivery of services are paid by the company.
Direct labor costs are the total expenses incurred by the business for paying employees' wages and other perks in exchange for work that is directly relevant to the production of the business's goods or the rendering of its services.
Direct labor cost is one of the significant components of the company’s product cost. It includes the total paid as wages or the other benefits to the company’s employees. They are related directly to the manufacturing of the company’s product or the provision of the services.
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This method works by order. What I mean by order is whoever comes directly before anyone else is to be catered to or to be first priority.
I hope this helps.
Answer:
$17
Explanation:
Calculation for that minimum price
Sales of port wine $32 per bottle
Less Variable costs ($15 per bottle)
Minimum price $17
($32-$15)
Therefore that minimum price is $17
Answer:
The journal entry to record the sale :
Debit : Note Receivable $120000
Credit : Sales Revenue $120000
Explanation:
The journal entry to record the sale includes a Debit entry of a Note Receivable at the amount owed by the customer since there was no immediate payment of cash and a Credit entry of Sales Revenue to recognize Income earned.
