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almond37 [142]
3 years ago
7

Balerio Corporation's relevant range of activity is 9,000 units to 14,000 units. When it produces and sells 11,000 units, its av

erage costs per unit are as follows: Average Cost per Unit Direct materials $ 7.30 Direct labor $ 3.90 Variable manufacturing overhead $ 2.20 Fixed manufacturing overhead $ 14.10 Fixed selling expense $ 2.65 Fixed administrative expense $ 1.70 Sales commissions $ 0.50 Variable administrative expense $ 0.40 Required: a. For financial reporting purposes, what is the total amount of product costs incurred to make 11,000 units
Business
1 answer:
Anna11 [10]3 years ago
5 0

Answer:

$302,500

Explanation:

The computation of total amount of product costs is shown below:-

Product cost for 11,000 units = Direct material + Direct labor + Manufacturing overhead cost incurred

= ($7.30 + $3.90 + $2.20 + $14.10) × 11,000

= $27.50 × 11,000

= $302,500

Therefore for computing the total amount of product costs we simply applied the above formula.

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Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) Record liability, (b) D
const2013 [10]

Answer:

a) Disclose in the notes

b) no Disclosure

c) Record a liability

Explanation:

There are three scenarios to be considered

1) It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable

First, premise is that Huprey Co. is facing a lawsuit and the possibility of a loss is most possible. If Huprey Co is able to recognize the amount of loss, then he would have been able to record a liability but the inability to estimate the loss means, the company can o<u>nly make appropriate disclosure in notes</u>

2)Huprey is being used for damages of $2 million. It is very unlikely (remote) that Huprey will lose the case.

This second premise is also a lawsuit on damages for $2 million, however, it is most reasonably acceptable that Huprey will win the lawsuit. As such there is no loss, that way there will be no disclosure in Huprey Co's books.

3.  Huprey can reasonably estimate that a pending lawsuit will result in damages of $1.25 million, it is probable that Huprey will lose the case.

The probability of losing a case means that there will be a loss to be recorded in the books and since the damages are already estimable to be $1.25 million. Huprey Co should record a liability

4 0
3 years ago
Brian is a truck driver who delivers products throughout Massachusetts. His friend Chris is a traffic planner for the same state
DiKsa [7]

Answer:

Assuming that you can only choose one answer, the most suitable one would be (A) Chris designs models to make traffic flow better, which enables Brian to get to his company’s warehouse faster.

Explanation:

This answer is correct because Chris is a traffic planner – thus he merely designs the traffic flow, he does not create it, thus making answer (D) incorrect. Though (B) is true, it doesn’t relate to Chris’ career, making it false as well. As for (C), the answer is not correct because Chris doesn’t design the maps of the state, he only designs the traffic flow.

6 0
3 years ago
Read 2 more answers
Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he purchased it for
Shtirlitz [24]

Answer:

a. $17,978

b. $300,000

Explanation:

Conditions

  • The  cotton country of lancaster, california has owned his home for ten years
  • purchased it for $178,000, cotton bought a $160,000 homeowner's insurance policy
  • the replacement cost of the home is now $300,000

a.    hence,

the proportion of the house insured = \frac{InsuranceAmount}{PriceOfThe Home} \times 100%

                                                             = \frac{160000}{178000}\times 100

                                                             =   89.89%

Percentage amount covered by the policy

= proportion of the house insured = 89.89%

Amount covered by the policy in dollars

= $20,000 × 89.89%

= $17,978

b

Amount of insurance on the home that cotton should now carry to be fully reimbursed for a fire loss  = current value of the home

= $ 300,000

5 0
3 years ago
A PERSONS ABILITY TO PAY DEBTS FROM REGULAR INCOME AND THEIR EARNING POWER IS CALLED?
nadya68 [22]
Freedom!!!!!!!!!!!!!!!!!!!
4 0
3 years ago
Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was p
Eddi Din [679]

Answer: $2650

Explanation:

Using the specific identification method, its ending inventory (after the December 24 sale) will be:

Units for sale = 5 units

Units sold = 1

It should be noted that the unit that was sold was the one that was bought on July 9th.

Ending units will now be:

= $800 + ($2 × $900) + $950 - $900

= $800 + $1800 + $950 - $900

= $3550 - $900

= $2650

6 0
3 years ago
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