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
Slav-nsk [51]
3 years ago
12

Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginnin

g of the year to calculate predetermined overhead rates: Molding Finishing Total Estimated total machine-hours (MHs) 4,000 1,000 5,000 Estimated total fixed manufacturing overhead cost $ 19,600 $ 2,400 $ 22,000 Estimated variable manufacturing overhead cost per MH $ 1.10 $ 2.10 During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job A Job M Direct materials $ 13,600 $ 7,500 Direct labor cost $ 20,700 $ 7,400 Molding machine-hours 2,700 1,300 Finishing machine-hours 400 600 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job A is closest to: (Round your intermediate calculations to 2 decimal places.)
Business
1 answer:
saveliy_v [14]3 years ago
7 0

Answer:

The selling price for Job A is $75,978.00

Explanation:

                                        Molding          Finishing          Totals

Machine hours                 4000                1000             5000

Fixed mnf. overheads      19600               2400           22000

Variable manufacturing  

Overheads per machine hours 1.1                2.1

                                                                <u>   JOB A</u>                  <u>JOB B</u>  

Direct materials                                         13,600                    7500

Direct labour costs                                    20,700                  7400

Molding machines      2700*1.1=              2,970  

Finishing        400*2.1=                               840

Fixed mnf: molding 19600*4000/5000= 15,680

Fixed mnf: finishing   2400*1000/5000= <u>  480     </u>

Total cost    (sum of all the above)            $54,270

Mark up = 40%

Mark up=gross profit (GP)*100/cost

40%= GP*100/54270

40*54270/100= GP

GP= 21,708

Sales= cost + GP  

Sales= 21,708+54,270

Sales= $75,978.00

You might be interested in
"When people act contrary to their self-perceptions as reasonable and sensible people, they experience a feeling known as ______
blondinia [14]

Answer:

The answer is letter D. Cognitive Dissonance

Explanation:

When people act contrary to their self-perceptions as reasonable and sensible people, they experience a feeling known as _cognitive dissonance_______.

7 0
3 years ago
Which of the following pair of journal entries correctly records the current month's activity where the company had $21,030 in t
Lelechka [254]

Answer:

----------------------    -   -------------------------------

Factory Payroll         21030

             Cash                        21030

----------------------    -    -------------------------------

Goods in process     16200

Factory Overhead     4830

       Factory Payroll               21030

----------------------    -    -------------------------------

Explanation: The payment of the total labor factory costs must be recorded, we debit the "Factory payroll" cost account and credit the "cash" account as they were paid in cash.

Then we must allocate these costs to the production process, therefore we debit the "goods in process" account for the amount of <u>direct labor</u> consumed, and "factory overhead" for the amount of <u>indirect labor </u>consumed, and finally credit the account " Factory payroll " for the total.

7 0
3 years ago
Who is bored if so lets talk
PSYCHO15rus [73]
Meeeeeeeeeeeeeeeeeee
8 0
3 years ago
Read 2 more answers
Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purc
svetoff [14.1K]

Answer:

Fifo Inventory $665

Moving Average= $ 606

Lifo Inventory $ 592

Explanation:

Purchases                

Date                 Units               Unit Cost             Sales Units     Fifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $122                                             $488</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

<u>                             5                             $ 133                                         </u><u> $665</u>

<u />

Moving Average Method

=   Total Cost of Purchases/ No of items= 13*115 + 6*122+ 7*132/13+6+7

 = 1495+ 732+ 924/26= 3151/26= 121. 192

No of units in the Ending Inventory= 5 * 121.192= $ 605.96

Purchases              

Date                 Units               Unit Cost             Sales Units    Lifo Inventory

July 1                       13                     $115

<u>July 6                                                                              9              </u>

<u>                                4                      $115                                               $460</u>

July 11                       6                      $122

<u>July 14                                                                               6                            </u>

<u>                                   4                      $115                                             $460</u>

July 21                      7                        $132

<u>July 27                                                                               6                           </u>

                              1                          132                                              $132

<u>                             4                            $ 115                                          $460</u>

<u>                             5                                                                       </u><u>       $ 592</u>

6 0
3 years ago
The most important information in a press release should be ________.
Anna [14]
A press release should include important details about a company, events and upcoming important information. The most important information should be stated at the beginning because you only have limited time to capture the eyes of the audience. You need to fill them with the most information as fast as you can so that they remember the key points. 
6 0
3 years ago
Other questions:
  • Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as §1231 asset
    13·1 answer
  • John's car is hit by ben's truck. a doctor tells john that he will be disabled only temporarily. ben's insurance company offers
    7·1 answer
  • Both buyers and sellers of a good are responsive to changes in the price of the product. An increase in the sales tax on the pro
    10·1 answer
  • Examples of _____ controls include production quality control and internal auditing. feedforward feedback vertical horizontal id
    6·1 answer
  • My dad always says, "time is money". question 20 options: irony pun idiom metaphor
    9·2 answers
  • In competitive markets, which of the following is not correct? Group of answer choices No individual buyer can influence the mar
    13·1 answer
  • if the nominal interest rate is 4.00% and the rate of inflation is 2.25%, what is the real interest rate? 1.75% 4.50% 6.25% 9.00
    12·1 answer
  • Barney decides to quit his job as a corporate accountant (which pays $10,000 a month) and go into business for himself as a cert
    6·1 answer
  • What is the main difference between renting and leasing?
    14·1 answer
  • if an investor with no other positions buys 2 dwq jun 45 calls at 3, and he exercises the calls when the stock is trading at 47.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!