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3 years ago

Crystal corporation makes $2,000 payments every month for leasing office equipment. crystal recorded a lease payment as follows:

1 answer:

4 0

Crystal corporation makes $2,000 payments every month for leasing office equipment. Crystal recorded a lease payment as an operating lease.

An operating lease is a lease that is commonly used for a short term basis and asset. The operating lease payment is found on the financial statement.

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The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.9 hours

topjm [15]

Answer:

-$30,250 favorable

Explanation:

labor efficiency variance = (standard quantity - actual quantity) x standard labor cost

actual quantity = 7,700 hours
standard quantity = 9.9 hours x 1,000 units = 9,900
standard labor cost = $13.70

labor efficiency variance = (7,700 - 9,900) x $13.70 = -$30,250 favorable variance

the variance is favorable, because less hours were actually used than forecasted

5 0

3 years ago

Transmissions are delivered to the fabrication line five at a time. It takes two hours for transmissions to be delivered. Approx

Leokris [45]

Answer:

The Number of kanban card sets is 2.

Explanation:

c = 5

T = 2 hours

d = 3 vehicles/hour

N = d*T(1 + ss)/C

= 3*2(1 + 0.30)/5

= 1.56

Therefore, The Number of kanban card sets is 2.

5 0

3 years ago

Crador Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion co

klasskru [66]

Answer: 62.5%

Explanation:

Equivalent units = Units completed and transferred out + percentage completed of ending inventory

14,800 = (1,100 + 14,000 - 800) + Percentage

14,800 = 14,300 + Percentage amount completed

Percentage amount completed = 14,800 - 14,300

Percentage amount completed = 500 units

Percentage = Ending equivalent units / ending inventory

= (500/800) * 100

= 62.5%

8 0

3 years ago

During the month of April, direct labor cost totaled $9,750 and direct labor cost was 30% of prime cost. If total manufacturing

MatroZZZ [7]

Answer:

manufacturing overhead= $42,000

Explanation:

Giving the following information:

Direct labor= $9,750 (30% of prime costs)

Total manufacturing costs= $74,500

First, we need to determine the direct material costs. We know that prime costs are the sum of direct labor and direct material.

Prime costs= direct labor / 0.3

Prime costs= 9,750 /0.3

Prime costs= $32,500

Direct material= 32,500 - 9,750

Direct material= $22,750

Now, we can calculate the manufacturing overhead:

Total manufacturing costs= direct labor + direct material + manufacturing overhead

74,500 = 9,750 + 22,750 + manufacturing overhead

manufacturing overhead= $42,000

8 0

3 years ago

Wildhorse Construction Company had a contract starting April 2021, to construct a $24900000 building that is expected to be comp

jek_recluse [69]

Answer:

The construction in process amount reported at December 2021 is $13,695,000

Explanation:

In this question, we are asked to state the amount the company will report construction in the process of.

Firstly, we calculate the profit = Total contract price - Expected costs of contract = $24,900,000-$22,900,000 = $2,000,000

The profit in percentage of cost is; 2,000,000/22,900,000 = 8.73%

The costs incurred in 2021 is $12,595,000

The proportionate profit = 12,595,000 * 8.73 = $1,100,000

The construction in process at December 2021 = Cost incurred + Proportionate profit = 12,595,000 + 1,100,000 = $13,695,000

3 0

3 years ago