Answer:
This question is incomplete, here's the complete question:
As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs.
Job 102 was started in production in May and the following costs were assigned to it in May: direct materials, $8,000; direct labor, $2,900; and overhead, $1,189. Jobs 103 and 104 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 are finished in June, and Job 104 is expected to be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions. (Assume this company�s predetermined overhead rate did not change across these months).
Explanation:
The process of Job costing is implemented in those industries where diverse jobs are undertaken. Each and every job has some unique and distinctive features that differentiate it from other. The total cost incurred for completion of Job is recorded in a sheet identified as the Job cost sheet. And after completion it is reassigned to finished stock.
Looking at the question, three jobs are considered. Job 102 was started in May and was completed by June. Other jobs begin in June and will be finished in July. The figures are to be calculated up to June.
The answer of point 1 and 2have been explained in the attached image:
Answer:
The amount of $224,000 should Blevert report as a liability at December 31, 2017
Explanation:
For computing the liability amount, we have to do the following calculations which is shown below:
= (Total sales value over the three year × sum of estimated warranty cost percentage for three year) - total warranty expenditure
= {$4,000,000 × (1% + 3% + 5%)} - ($136,000)
= {$4,000,000 × 9%} - ($136,000)
= $360,000 - $136,000
= $224,000
Answer:
The correct answer to this question is A) because resources are not equally good in each production activity.
Explanation:
PPS or Production possibility frontier ( which is often as production possibility curve ) shows the possible combinations( of two products or services) with maximum outputs that can be produced in an economy when all the available resources are fully and efficiently used.
The reason why opportunity cost is increased while moving along PPS is because when we increase the output of one good , that means we are allocating more resources towards this good ,that means we will be left with the fewer resources to carry out the production of other good , so therefore the opportunity cost would increase.
Answer:
Per unit bid by Thailand Polishing in dollars = $1.2
The price per unit for India Shine in dollars = $1.5
The price per unit for Sacramento Glow = $1.2
Explanation:
Number of units of polished disks = 200
Bid by Thailand Polishing = 2,400 baht
Bid by India Shine = 2,400 rupees
Bid by Sacramento Glow = $240
Now,
Per unit bid by Thailand Polishing = 
= 12 baht
Since, $1 = 10 baht
or
1 baht = $0.1
Therefore,
Per unit bid by Thailand Polishing in dollars = 12 × 0.1 = $1.2
The price per unit for India Shine = = 12 rupees
also,
$1 = 8 rupee
or
1 rupee = $0.125
Therefore,
The price per unit for India Shine in dollars = 12 × 0.125 = $1.5
The price per unit for Sacramento Glow = 
= $1.2
