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Inessa05 [86]
3 years ago
14

Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Direct materials $7,000 Direc

t labor 3,000 Manufacturing overhead 2,000 Selling expense 8,000 Last month, 4,000 units were produced and sold. Required: 1. Classify each of the costs as product cost or period cost. Direct materials Product cost Direct labor Product cost Manufacturing overhead Product cost Selling expense Period cost 2. What is the total product cost for last month? $ 4,000 3. What is the unit product cost for last month? $ per unit
Business
1 answer:
Sav [38]3 years ago
5 0

Answer and Explanation:

1. The classification of estimated manufacturing overhead is shown below:-

Direct materials =  Product cost

Direct labor = Product cost

Manufacturing overhead = Product cost

Selling expense = Period cost

2. The computation of total product cost for last month is shown below:-

= Direct materials + direct labors + manufacturing overhead

= $7,000 + $3,000 + $2,000

= $12,000

3. And, the unit product cost is

= Total product cost ÷ number of units

= $12,000 ÷ 4,000 units

= $3 per unit

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$500, $250

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You lend​ $5,000 to a friend for one year at a nominal interest rate of​ 10%. Inflation during that year is​ 5%. As a​ result, you will receive​ $<u>500</u> at the end of the​ year, but that money has a purchasing power of​ $<u>250</u>.

The nominal rate determines the amount that will received which is 10% of $5000 = $500

However the real rate determines the purchasing power of the amount to be received which is: Nominal rate - Inflation rate = Real rate,

Therefore the real rate = 10% - 5% = 5%

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Inflation is the single major factor that affects the purchasing power of money, hence the inflation effect must always be subtracted from any returns lenders are expecting, to get their real returns.

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d) All current customers who up to a certain point in time have NOT bought in the jewelry category but did buy jewelry in the next time frame

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