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Debora [2.8K]
3 years ago
5

Parker Corporation has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply ma

nufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours, respectively. In June, Job #461 was completed. Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour. At the end of the year it was determined that the company worked 24,000 direct labor-hours for the year and incurred $54,000 in actual manufacturing overhead costs. If Job #461 contained 100 units, the unit product cost on the completed job cost sheet would be:
Business
1 answer:
AnnyKZ [126]3 years ago
3 0

Answer:

Unitary cost= $62.5

Explanation:

Giving the following information:

Predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours.

Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour.

First, we need to determine the allocated MOH:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 50000/20000= $2.5 per direct labor hour

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base= 2.5* (1500/5)= $750

Total cost= 4000 + 1500 + 750= $6,250

Unitary cost= 6250/100= $62.5

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A student has 4 mangos, 2 papayas, and 3 kiwi fruits. if the student eats one piece of fruit each day, and only the type of frui
Tom [10]

There are 210 ways that he can consume fruits. This can determined using the concept of factorial in mathematics.

Factorial, in mathematics, the product of all positive int or numbers less than or equal to a given positive int or number and denoted by that integer and an interjection point. therefore, factorial seven is written seven!, meaning one × 2 × 3 × 4 × 5 × six × seven.

Factorial zero is defined as equal to one.

Here, we have given the student has three mangoes, two papayas and two kiwi fruits.

so in total he has (3 plus 2 plus 2) =7 fruits.

Let all the fruits be eaten. If he eats one fruit each day then it will take seven days to complete this process.

So according to one popular permutation type where , n=7, n1(mangoes)=3,  n2(papayas)=2,  n3(kiwi)=2.

Using factorial, number of ways =7!/(3!2!2!) =210

Learn more about factorial here:

brainly.com/question/25997932

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4 0
1 year ago
Phoenix Agency leases office space for $7,700 per month. On January 3, Phoenix incurs $105,600 to improve the leased office spac
nadezda [96]

Answer:

$13,200 per year

Explanation:

Amount incurred to improve the office space = $

Improvement expected to yield benefit = 10 years

Remaining life on it's lease = 8 years

Since the office space is not going to remain with Phoenix after the lease period, it means that the improvement expenses will be expensed over the remaining lease period I.e 8 years.

Therefore, the amount of expense that should be recorded the first year related to improvements can be calculated as;

= Amount incurred to improve the office space ÷ remaining life on its lease

= $105,600 ÷ 8

= $13,200 per year

7 0
3 years ago
Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th
LekaFEV [45]

Answer:

ELASTIC

DECREASING PRICE

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise

4 0
3 years ago
In 2021, the Marion Company purchased land containing a mineral mine for $1,150,000. Additional costs of $448,000 were incurred
babymother [125]

Answer:

Marion Company

a1) Depletion of the Mine for two years:

2018: 41,000/310,000 * $1,488,000 = $196,800

2019: 51,000/397,500 * $1,488,000 = $190,913

a2) Depreciation of Mining Facilities:

2018: 41,000/310,000 *$102,300 = $13,530

2019: 51,000/397,500 * $102,300 = $13,125

a3) Depreciation of Mining Equipment

2018: 41,000/310,000 *$46,500 = $6,150

2018: 51,000/397,500 * $46,500 = $5,966

b) Book Values December 31, 2019:

1) Mineral Mine:

Cost = $1,598,000

Accumulated Depletion $387,713 (2018 & 2019)

Book Value = $1,210,287

b2) Structures:

Cost = $102,300

Accumulated Depreciation $26,655 (2018 & 2019)

Book Value = $75,645

b3) Equipment:

Cost = $51,500

Accumulated Depreciation $12,116

Book Value = $39,384

Explanation:

a) Cost of Mine:

Land              $1,150,000

Development $448,000

Less Resale    ($110,000)

Total cost =  $1,488,000

b) Cost of Facilities or Structure:

Building cost = $102,300

c) Cost of Equipment = $51,500 - $5,000 = $46,500

d) Depletion is an accrual accounting technique used to allocate the cost of extracting natural resources.  It is like depreciation and amortization, which lower the cost value of an asset incrementally through periodic charges to income.

e) Depreciation is an accounting method for allocating the cost (the value used up) of a tangible or physical asset over its useful life.

5 0
3 years ago
Exchange corp. is a company that acts as a facilitator in tax-favored real estate swaps. such swaps, know as 1031 exchanges, per
Vikki [24]

Answer:

1) No, the report prepared by the bookkeeper is not useful as a performance report is prepared in <em>per unit</em> <em>basis</em> not on <em>Total basis.</em>

<em />

See performance report attached.

3 0
3 years ago
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