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
bixtya [17]
3 years ago
15

The following cost data for the year just ended pertain to Heartstrings, Inc., a greeting card manufacturer: Service department

costs* $ 100,000 Direct labor: wages 485,000 Direct labor: fringe benefits 96,000 Indirect labor: fringe benefits 31,000 Fringe benefits for production supervisor 10,000 Total overtime premiums paid 55,000 Cost of idle time: production employees§ 40,000 Administrative costs 150,000 Rental of office space for sales personnel† 15,000 Sales commissions 6,000 Product promotion costs 10,000 Direct material used 2,100,000 Advertising expense 97,000 Depreciation on factory building 116,000 Cost of finished-goods inventory at year-end 115,000 Indirect labor: wages 141,000 Production supervisor’s salary $ 46,000 COMPUTE EACH OF THE FOLLOWING:1)TOTAL PRIME COSTS2)TOTAL MANUFACTORIN OVERHEAD COSTS3)TOTAL CONVERSION COSTS4)TOTAL PRODUCT COSTS5)TOTAL PERIOD COSTS
Business
1 answer:
Afina-wow [57]3 years ago
5 0

Answer:

Explanation:

Giving the following information:

Service department costs= $ 100,000: Period

Direct labor: wages 485,000: Product - DL

Direct labor: fringe benefits 96,000: Product - DL

Indirect labor: fringe benefits 31,000: Product - MOH

Fringe benefits for production supervisor 10,000: Product - MOH

Total overtime premiums paid 55,000: Product - DL

Cost of idle time: production employees 40,000: Product - DL

Administrative costs 150,000: Period

Rental of office space for sales personnel 15,000: Period

Sales commissions 6,000: Period

Product promotion costs 10,000: Period

Direct material used 2,100,000: Product - DM

Advertising expense 97,000: Period

Depreciation on factory building 116,000: Product - MOH

Cost of finished-goods inventory at year-end 115,000

Indirect labor: wages 141,000: Product - MOH

Production supervisor’s salary $ 46,000: Product - MOH

First, we will classify each cost as product/ period, and Direct Material (DM), Direct Labor (DL) and manufacturing overhead (MOH).

A) Prime costs= direct material + direct labor

Prime costs= 2,100,000 + (485,000 + 96,000 + 55,000 + 40,000)

Prime costs= 2,100,00 + 676000= 2,776,000

B) Manufacturing overhead= 31000 + 10000 + 116000 + 141000 + 46000= $344,000

C) conversion cost= direct labor + manufacturing overhead

CC= 676000 + 344000= 1,020,000

D) Product costs= DM + DL + MOH= 2100000+676000+344000= $3,120,000

E) Period cost= 100000 + 150000 + 15000 + 6000 + 10000 + 97000= $378,000

You might be interested in
CDB stock is currently priced at $82. The company will pay a dividend of $4.65 next year and investors require a return of 10.9
lidiya [134]

Answer:

g = 0.05229 or 5.229% rounded off to 5.23%

Explanation:

Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,

P0 = D1 / (r - g)

Where,

  • D1 is dividend in year 1 or the next dividend
  • g is the growth rate
  • r is the required rate of return

Plugging in the available values for P0, D1 and r, we can calculate the value of g.

82 = 4.65  /  (0.109 - g)

82 * (0.109 - g) = 4.65

8.938 - 82g  =  4.65

8.938 - 4.65 = 82g

4.288 = 82g

g = 4.288 / 82

g = 0.05229 or 5.229% rounded off to 5.23%

8 0
3 years ago
According to expectancy theory, the three primary elements that determine how willing an employee is to work hard at tasks impor
ollegr [7]
The three primary elements are INSTRUMENTALITY, VALENCE AND EXPECTANCY.
The expectancy theory of motivation states that, an individual is will behave in a certain manner as a result of the way in which he has been conditioned to select a specific behavior over other forms of behavior. This implies that workers are usually motivated by the reward they get for the work they performed.<span />
4 0
3 years ago
What is one way learning to budget now will affect your future?
bagirrra123 [75]

Answer:

not saving up

Explanation:

I dont have one

5 0
2 years ago
Suppose the economy is operating in long-run equilibrium and a positive demand shock hits. We expect a short-run increase in rea
Pepsi [2]

Answer:

The correct answer is: an expansionary gap; decrease the money supply.

Explanation:

An expansionary gap is when genuine output surpasses potential output. At the end of the day, the economy is incidentally working over its long-run potential as estimated by real GDP.

3 0
3 years ago
Which of the following statements about the Uniform Commercial Code (UCC) is true? Group of answer choices The UCC contract form
sergey [27]

Answer:

1- The UCC contract formation includes offer, acceptance and consideration.

Explanation:

Elements "Offer" and "Acceptance" together form mutual assent. Also, in order to be enforceable, the contract must be for a legal purpose and parties to the contract must have capacity to enter into the contract, that part is related to consideration.

Offer → gives power of acceptance to another party, besides it includes the agreement´s essential elements (they have to be definite and certain).

Acceptance → must be a mirror image of the offer.

Consideration → All common-law contract must contain this element as a valid one. It means that there must be a bargained for interexchange of acts or promises, both parties incurring new legal detriment or obligations as a consequence of the contract.

8 0
3 years ago
Other questions:
  • Koffee, a brand of instant coffee, gives away a free coffee mug with its logo imprinted on it with every purchase of a 500g pack
    11·1 answer
  • The consumer price index was 177.1 in 2001 and 179.9 in 2002. therefore, the rate of inflation in 2002 was about:
    12·1 answer
  • Stone purchased farm land from Fowler with the idea of developing it. Fowler took part payment in cash and the balance in the fo
    8·1 answer
  • Which type of financial institution typically has membership requirements? AOnline Commercial Bank BCommercial Bank CFederal Res
    11·2 answers
  • Rajiv is a person whose wants are satisfied by using goods and services. Rajiv is a _____.
    12·2 answers
  • When the Central government cut taxes and increases spending to stimulate the economy during a period of recession, such actions
    8·1 answer
  • Generally, we calculate elasticity as the: percentage change in quantity demanded/supplied divided by the change in price. perce
    12·1 answer
  • At a rate of 6.5%, what is the future value of the following cash flow stream?
    11·1 answer
  • You just received a $5,000 gift from your grandmother. You have decided to save this money so that you can gift it to your grand
    9·1 answer
  • The following materials standards have been established for a particular product: Standard quantity per unit of output 4.2 pound
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!