1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mel-nik [20]
3 years ago
9

Lucy Sportswear manufactures a line of specialty T-shirts using a job order costing system. In March the company incurred the fo

llowing costs to complete Job ICU2: direct materials, $13,200, and direct labor, $4,900. The company also incurred $1,230 of administrative costs and $6,000 of selling costs to complete this job. Job ICU2 required 800 machine hours. Factory overhead was applied to the job at a rate of $25 per machine hour.
If Job ICU2 resulted in 6,400 good shirts, what was the cost of goods sold per shirt? (Round answer to 2 decimal places, e.g. 3.54.)
Business
1 answer:
wlad13 [49]3 years ago
4 0

Answer:

Unitary cost of goods sold= $5.95

Explanation:

Giving the following information:

direct materials= $13,200

direct labor= $4,900

Job ICU2 required 800 machine hours.

Factory overhead was applied to the job at a rate of $25 per machine hour.

The cost of goods sold is calculated using the direct material, direct labor, and applied factory overhead.

First, we need to calculate the allocated overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 25*800= 20,000

Now, we need to calculate the cost of goods sold per unit:

Total cost= 13,200 + 4,900+ 20,000= 38,100

Unitary cost= 38,100/6,400= $5.95

Unitary cost of goods sold= $5.95

You might be interested in
How is a credit union different from a retail bank
a_sh-v [17]
Credit unions are not-for-profit financial cooperatives. Whose earnings are paid back to members in the form of higher saving rates and lower loan rates.Banks are for profit businesses with earning paid to stockholders only.
7 0
2 years ago
Read 2 more answers
If you own a small business, which of the following helps with your finances?
Montano1993 [528]

Answer:

C. Accountant

7 0
3 years ago
Read 2 more answers
Newdex has net income of $3,000,000 (INCLUDING the effect of expected out-of-pocket costs) and 1,000,000 shares outstanding. It
kkurt [141]

Answer:

$416,667

Explanation:

Current EPS = $3,000,000 / 1,000,000

Current EPS = $3

Net Proceeds per share = $40 * 90%

Net Proceeds per share = $36  

New Number of Shares = $5,000,000 / $36

New Number of Shares = 138888.88

Total Number of Shares Outstanding after the new issue = 1138888.88 shares

Diluted EPS = $3,000,000 / 1138888.88

Diluted EPS = $2.634

Amount of Dilution in EPS = $3 - $2.634

Amount of Dilution in EPS = $0.3658

Net Income must increase by 1138888.88 * $0.3658 = $416,667. So, Newdex's after-tax income must increase to $416,667 to prevent dilution of earnings per share.

6 0
3 years ago
Your company purchased a piece of land five years ago for $150,000 and subsequently added $175,000 in improvements. The current
exis [7]

Answer:

your mom

Explanation:

your mom

6 0
3 years ago
Which of the following statements regarding life insurance needs is / are correct? 1. The human life value approach looks forwar
Tresset [83]

Answer:

The human life value approach looks forward for information.

and

The capitalization of income approach looks at right now only for information.

Explanation:

A life insurance is a form of agreement entered into by an individual and an insurance firm whereby some amount is to be paid to the next of kin of the individual under the insurance. It can also be in the form of payment of bills in the case of the illness of the individual under insurance.

The individual either pays in batches or a one time payment to the insurance agency.

The individual current value is normally considered in analysing his assets and income.

7 0
3 years ago
Other questions:
  • Paulson Company issues 6%, four-year bonds, on January 1 of this year, with a par value of $200,000 and semiannual interest paym
    12·1 answer
  • If you case a car accident, which type of insurance will require you to pay the least out of pocket?
    10·1 answer
  • Which of the following tasks is likely to be done by the HR department?
    9·2 answers
  • When using survey feedback activities:
    10·1 answer
  • Diehl Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following d
    5·1 answer
  • Both the satisfaction of creating new products and the possibility of earning money are _____ for an entrepreneur. risks incenti
    5·2 answers
  • 2. The economic system that is found in a Communistic political system is
    12·1 answer
  • Bethesda Water has an issue of preferred stock outstanding with a coupon rate of 4.20 percent that sells for $90.86 per share. I
    15·1 answer
  • The Corner Hardware has succeeded in increasing the amount of goods it sells while holding the amount of inventory on hand at a
    12·1 answer
  • Explain the difference between a checking and a savings account
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!