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Elenna [48]
3 years ago
7

Tang Company accumulates the following data concerning raw materials in making its finished product: (1) Price per pound of raw

materials—net purchase price $3.00, freight-in $0.50, and receiving and handling $0.20. (2) Quantity per gallon of finished product—required materials 3.50 pounds, allowance for waste and spoilage 0.80 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct materials price per pound of raw materials. $enter a dollar amount rounded to 2 decimal places (b) Standard direct materials quantity per gallon. enter an amount of pounds rounded to 2 decimal places pounds (c) Total standard materials cost per gallon. $enter a dollar amount rounded to 2 decimal places
Business
1 answer:
Nataly_w [17]3 years ago
6 0

Answer and Explanation:

The computation is shown below:

(a) Standard direct materials price per pound of raw materials is

= Purchase price + freight in + receiving and handling

= $3 + $0.50 + $0.20

= $3.70

(b) Standard direct materials quantity per gallon is

= Required material + allowance for waste and spoilage

= 3.50 pounds + 0.80 pounds

= 4.30 pounds

(c) Total Standard direct materials cost per gallon is

= Standard direct materials price per pound of raw materials × Standard direct materials quantity per gallon

= $3.70 × 4.30 pounds

= $15.91

We simply applied the above formulas

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Answer:

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Explanation:

In other words, the substitution effect is when sales fall because the consumers change into cheaper alternatives when its price rises.

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3 years ago
Often an individual will join and support a certain interest group to receive tangible economic advantages from that membership.
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3 years ago
Discuss how structural dimensions of the firm, including formalization, standardization, and centralization, can affect the firm
Andreyy89

Explanation:

A company's organizational structure can be defined as the organization of the company's activities so that it operates more efficiently and effectively and achieves its objectives and goals.

Therefore, the structural dimensions of a company including formalization, standardization and centralization will directly influence the innovation of an organization in relation to several variables such as its internal environment, processes, products and services, as there are organizational structures that are more focused on innovation than others, such as the horizontal structure in relation to the vertical, since the vertical structure is the most rigid and with a higher hierarchy, while in the horizontal structure there is greater autonomy of employees and greater participation in the decision-making process, which is a more flexible environment open to innovation.

5 0
3 years ago
On January 1, 2021, Farmer Fabrication issued stock options for 100,000 shares to a division manager. The options have an estima
Black_prince [1.1K]

Answer and Explanation:

The journal entries are shown below:

1. The revised estimated amount of total compensation is

= 100,000 shares × $6

= $600,000

2. The action shows that the Farmer Fabrication cumulative effect for the year 2022 earnings            

3. The journal entries are shown below:

For the year 2022

Compensation expense

         To Paid-in Capital-Stock options $200,000

(Being the compensation expense is recorded) $200,000

For recording this we debited the compensation expense as it increased the expenses and credited the paid in capital as it increased the stockholder equity

The computation is shown below:

= $600,000 ÷ 3 years

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7 0
3 years ago
If there is a market with the below noted market segmentation, what would the four firm market concentration ratio be?
BlackZzzverrR [31]

Answer:

The correct answer is:

90 (b.)

Explanation:

A concentration ratio is the ratio of the combined market shares percentage held by the largest specified number of firms, compared to the given market size. The concentration ratio ranges from 0% to 100%. If the concentration ratio of an industry ranges from 0% to 50%, that industry is said to be perfectly competitive if the top 5 firms have a concentration ratio of 60% or more, oligopoly is said to occur, and if the competition ratio of one company is 100% it shows monopoly.

In our example, the concentration of the largest four market segments are:

35%, 30%, 15% and 10%

Therefore, the four firm market concentration ratio = 35 + 30 + 15 + 10 = 90    

4 0
3 years ago
Read 2 more answers
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