Answer:
the amount of its liabilities is $285,000
Explanation:
From the Accounting Equation, we know that :
Assets - Liabilities = Equity
Therefore,
Liabilities = Assets - Equity
= $710,000 - $425,000
= $285,000
Answer:
The total product cost is $98,230
Explanation:
The product cost is that cost which is related to the manufacturing of a product
The computation of the total product cost is shown below:
= Direct labor + Metal to make the exterior shell of the washing machines + Electricity to run the machinery in the factory + Salary of the manager who oversees the manufacturing
= $20,906 + $50,181 + $18,939 + $8,204
= $98,230
So, this cost which are considered in the computation part is product cost and the rest cost are ignored.
Answer:
Production manager
Explanation:
In the firm or company, the duty of the production manager is to ensure that the manufacturing processes should run efficiently as well as reliably. In short, it means to ensure that the operations are being done through the employees, follow the limitation, which is created in the budget. The production manager will ensure that the firm will accomplish all the objectives by maintaining the profitability at the same time.
The responsibilities of the job involve, organising as well as planning the production, negotiates and create budgets and the timescales with managers and clients.
Answer:
$165,000
Explanation:
The computation of the amount of over- or underapplied overhead is shown below:
The Predetermined overhead rate is
= Predetermined overhead ÷ direct labor cost
= ($300,000 ÷ $200,000)
= 150% of direct labour cost
Now
overhead applied is
= (150% × $280,000)
= $420,000
And,
Actual overhead=$255,000
So,
overhead overapplied is
= $420,000 - $255,000
= $165,000
