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
____ [38]
3 years ago
13

Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 597,000 units. Total estimated

cost for materials and labor are $1,194,000 and $1,671,600. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, e.g. 1.25.)
Business
1 answer:
sertanlavr [38]3 years ago
5 0

Answer: (a) Materials = $2 and Labor = $2.8

(b) Materials = $11,94,000 and Labor = $16,71,600

Explanation:

(a) Standard cost :

Standard cost is evaluated as a per unit amount.

For Materials,

=  \frac{1194000}{597000}

= $2

For Labor,

=  \frac{1671600}{597000}

= $2.8

(a) Budgeted cost :

Budget cost are evaluated as the total amount.

Therefore, for this year the budgeted cost are Materials = $11,94,000 and Labor = $16,71,600

You might be interested in
You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you c
nadya68 [22]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Cash flow= $500

Number of months= 50

Monthly interest rate= 0.07/12= 0.00583

First, we need to calculate the future value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= cash flow

FV= {500*[(1.00583^50) - 1]} / 0.00583

FV= $28,928.06

Now, the present value:

PV= FV/(1+i)^n

PV= 28,928.06/(1.00583^50)

PV= $21,631.67

5 0
3 years ago
Which piece of information would you find on an income statement?
Tatiana [17]

The answer is cost of goods sold... brainliest plz

3 0
3 years ago
A problem with creating team incentive plans is that:
Leni [432]

Answer:

The answer is (B) not all teams are created alike.

Explanation:

This is important since different teams might be composed of differently skilled individuals which might impact their ability to complete the target tasks assigned. When teams that are composed of different skill levels are given similar incentive regardless, it does not reward individual effort and create a stagnant condition.

7 0
3 years ago
If actual output exceeds potential output, the economy: Group of answer choices is experiencing an inflationary gap. may be in a
Lostsunrise [7]

A. Experiencing an inflationary gap; when actual output exceeds potential output the price level rises because employers have to raise wage rates to entice more people into the labor market and employers have to pay more for other inputs that become more expensive to produce.

What is an output gap?

The difference between an economy's actual and potential output is measured economically as the "output gap." The maximum amount of products and services that an economy can produce at its peak efficiency, or when it is operating at capacity, is known as potential output. Potential output is frequently referred to as the economy's production capacity. An output gap suggests that an economy is running at an inefficient rate—either overworking or underworking its resources.­

How it causes inflation?

Potential output, which is often defined as the level of output consistent with no pressure for prices to rise or fall, is frequently used by policymakers to measure inflation. The production gap serves as a quick indicator of the relative importance of the demand and supply sides of the economy in this situation. Thus, the output gap is a crucial link between the real side of the economy, which generates goods and services, and inflation. It quantifies the strength of inflation pressure in the economy.

Learn more about output gap here:

brainly.com/question/23114878

#SPJ4

4 0
1 year ago
Why does the U.S government issue savings bonds?​
Likurg_2 [28]

Answer:

Explanation:

United States savings bonds are debt securities issued by the United States Department of the Treasury to help pay for the U.S. government's borrowing needs. U.S. savings bonds are considered one of the safest investments because they are backed by the full faith and credit of the United States government.

4 0
3 years ago
Other questions:
  • Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producin
    12·1 answer
  • Use the following items to prepare a balance sheet and a cash flow statement.
    13·1 answer
  • Jack rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service
    11·1 answer
  • Johnson Electronics is considering extending trade credit to some customers previously considered poor risks. Sales would increa
    13·1 answer
  • In case of an emergency, once you or someone already on the scene has contacted 9-1-1, the next thing to do is: A) Move them to
    15·1 answer
  • George, the marketing manager of Axil Bicycles, discovers that the company's current market is becoming stagnant and the product
    10·1 answer
  • When planning a budget, the biggest consideration should be the
    15·1 answer
  • A __________ visually shows that the total revenue curve and the total cost curve intersect at a point of zero profit.
    12·1 answer
  • The term given to units that represents the number of completed units that is equal, in terms of production inputs, to a given n
    7·1 answer
  • As environmental uncertainties increase, managers must develop techniques and methods for collecting, sorting through, and inter
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!