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Mkey [24]
3 years ago
6

Leisure Industries manufactures​ custom-designed playground equipment for schools and city parks. Leisure expected to incur $ 62

7 comma 000 of manufacturing overhead​ cost, 41 comma 800 of direct labor​ hours, and $ 919 comma 600 of direct labor cost during the year​ (the cost of direct labor is ​$22 per​ hour). The company allocates manufacturing overhead on the basis of direct labor hours. During September​, Leisure completed Job 309. The job used 160 direct labor hours and required $ 13 comma 000 of direct materials. The City of Hamptonville has contracted to purchase the playground equipment at a price of 23 % over manufacturing cost. . Calculate the manufacturing cost of Job 309. 2. How much will the City of Hamptonville pay for this playground​ equipment?
Business
1 answer:
inn [45]3 years ago
6 0

Answer:

Price= $85263,6

Explanation:

We need to calculate the price paid by the City of Hamptonville for playground equipment.

We know the following information:

Direct material= $13000

Direct labor= 160hours*$22hour= $3520

Manufacturing overhead: it is assigned on labor hours.

We need to calculate the value of manufacturing overhead.

Labor hours presupuested= $41800/$22hour= 1900hours

$/hour of manufacturing overhead= $627000/1900hours= $330

<u>Manufacturing overhead Job 309= 330*160hours= $52800</u>

Manufacturing cost Job 309= direct material + direct labor + Manufacturing overhead= 13000 + 3520 + 52800= $69320

Price=69320*1.23= $85263,6

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Answer:

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4. Dec 31, 2019

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Explanation:

Preparation of the closing entries for the above transactions

1. Dec 31, 2019

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2. Dec 31, 2019

Dr Income summary 60,000

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4. Dec 31, 2019

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6 0
2 years ago
Fergie has the choice between investing in a State of New York bond at 9.2 percent and a Surething bond at 8.5 percent. Assuming
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Answer:

Explanation:

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3 years ago
A market economy cannot produce a socially desirable outcome because individuals are motivated by their own selfish interests.
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