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3 years ago

LO 2.2Which of the following would not be classified as manufacturing overhead?

Business

1 answer:

iVinArrow [24]3 years ago

6 0

Answer:

Direct labor

Explanation:

To compute the manufacturing overhead, we considering the following:

= Factory utilities + Depreciation on factory equipment + Property taxes on factory building + Indirect factory labor + Indirect materials + Factory repairs+ Factory manager salary

The direct labor is a direct expense which is related to the product whereas the manufacturing overhead records only indirect cost which is not directly related to the product i.e it relates to the factory expenses

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To be successful, what must an entrepreneur be willing to invest? Check all that apply. money unemployment personal safety time

kotegsom [21]

The correct answer is 1, 4, 5.

1. Money.

4. Time.

5. Considerable effort.

Successful entrepreneur is termed as the right attitude towards business and grit to achieve success and also self determination.

A successful entrepreneur has a healthy opinion and sense to self confidence to abilities and skills.

The most important trait for an entrepreneur to be successful is self discipline.

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3 years ago

Read 2 more answers

Japan, with a high population density and a large number of urban centers that grew up before the automobile, has a retail syste

Hitman42 [59]

Answer:

Fragmented Retail system

Explanation:

A fragmented retail system can be defined as a market in which no firm can has or can exert any influence to move the market in a particular direction.

This simply means that a fragmented retail system is one in which no product or firm has a grip or major share in the market. This leaves the market to a lot of small and medium scaled businesses competing with larger companies.

From the question, it can be seen that there a lots of small stores that serves the neighborhood. This means that the small shops cater for the needs of people within its vicinity such that there isn't any need for visiting larger stores.

Cheers

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3 years ago

A worker wants to set aside some money for retirement, hoping to live off the interest income. If the interest rate is 10% and t

Shkiper50 [21]

Answer:

d) 500,000

Explanation:

The amount that the worker is expected to save before retirement is the present value of the expected annual withdrawal using the interest rate of 10% as the discount rate:

savings balance at retirement=yearly cash withdrawal/interest rate

yearly cash withdrawal=$50,000

interest rate=10%

savings balance at retirement=$50,000/10%

savings balance at retirement$500,000

5 0

2 years ago

Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the fi

valentina_108 [34]

Answer:

a.Income Statement using variable costing

2016 2017

Sales $7,872,000 $9,840,000

Less Cost of Sales ($1,338,240) ($1,672,800)

Opening Stock $0 $334,560

Add Cost of Goods Manufactured $1,672,800 $1,338,240

Less Closing Stock ($334,560) $0

Contribution $6,533,760 $8,167,200

Less Expenses :

Fixed manufacturing costs ($3,075,000) ($3,075,000)

Selling Expenses : Variable ($862,920) ($1,082,400)

Selling Expenses : Fixed ($500,000) ($500,000)

Net Income / (loss) $2,095,840 $3,509,800

b.Income Statement using absorption costing

2016 2017

Sales $7,872,000 $9,840,000

Less Cost of Sales ($3,798,240) ($5,362,800)

Opening Stock $0 $949,560

Add Cost of Goods Manufactured $4,747,800 $4,413,240

Less Closing Stock ($949,560) $0

Gross Profit $4,073,760 $4,477,200

Less Expenses :

Selling Expenses : Variable ($862,920) ($1,082,400)

Selling Expenses : Fixed ($500,000) ($500,000)

Net Income / (loss) $2,710,840 $2,894,800

c. Reconciliation of Absorption costing Net Income to variable costing profit

2016 2017

Absorption Costing Net Income $2,710,840 $2,894,800

Fixed Manufacturing Cost in Opening Stock $0 $615,000

Fixed Manufacturing Cost in Closing Stock ($615,000) $0

Variable Costing Net Income $2,095,840 $3,509,800

Explanation:

Part a.

Under Variable Costing, Only Variable Manufacturing Costs are treated as Product costs. Fixed Manufacturing costs and All Non-Manufacturing Costs are treated as period costs.

Part b

Under Absorption Costing, Both Variable Manufacturing Costs and Fixed Manufacturing costs are treated as Product costs. All Non-Manufacturing Costs are treated as period costs.

Part c.

The difference between the Net Income under Absorption Costing and Variable Costing is due to Fixed Manufacturing Costs that are deferred in Inventory. This needs to be reconciled accordingly.

5 0

3 years ago

The following information is available for Birch Company at December 31: Cash in registers $ 2,910 Investment maturing in 9 year

yan [13]

Based on the various account balances that Birch Company has, they should report a total of $38,061 for Cash and Cash equivalents.

Cash and Cash Equivalents are the actual cash that a company holds as well as those that can readily be converted to cash.

They include:

Actual cash
Cash in bank
Cash in petty cash
U.S. Treasury bills
Money market funds

The total of cash and cash equivalent here are:

= Cash in registers + Cash in bank + Cash in petty cash + U.S. Treasury bills

= 2,910 + 23,631 + 320 + 11,200

= $38,061

In conclusion, Birch Company has Cash and Cash Equivalents of $38,061.

Find out more at brainly.com/question/9505730.

3 0

2 years ago