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Leya [2.2K]
3 years ago
14

Mary’s hourly wage is twice that of John’s. John’s and Dennis’ hourly wages together total $60. If Dennis earns 1/3 of John’s ra

te, what does Mary make per hour?
Business
1 answer:
kolezko [41]3 years ago
3 0

Answer: $90

Explanation: This problem can be solved by using following equation :-

Let John's hourly wage rate be J, Mary's hourly wage rate be M and Dennis hourly wage rate be D, therefore :-

Mary's rate will be :-

M = 2J............equation 1

AND,

J + D = $60 ..... equation 2

Similarly,

D = 1/3J

Now,putting the value of D in equation 2 we get,

J + 1/3J = $60

J  = $45

Putting the values of J in equation equation 1 we get,

M = 2 * $45

   = $90

So, Mary's hourly wage rate is $90

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Answer:

Cost of units completed = $176,528

Workings are attached:

Explanation:

Equivalent unit of production

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Equivalent units are used in the production cost reports for the producing departments of manufacturers using a process costing system. Cost accounting textbooks are likely to present the cost calculations per equivalent unit of production under two cost flow assumptions: weighted-average and FIFO.

Conversion costs

Conversion costs is a term used in cost accounting that represents the combination of direct labor costs and manufacturing overhead costs. In other words, conversion costs are a manufacturer's product or production costs other than the cost of a product's direct materials.

Expressed another way, conversion costs are the manufacturing or production costs necessary to convert raw materials into products.

The term conversion costs often appears in the calculation of the <u>cost of an</u> <u>equivalent unit in a process costing system.</u>

For the sake of this question, we will be determining the <u>equivalent units of production:</u>

  • Units completed and transferred subject to material and conversion costs
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Download xlsx
4 0
3 years ago
Cleveland Corporation acquired a machine for $42,000 and has recorded depreciation for two years using the straight line method
dsp73

Answer:

The book value of the machine at the end of year 2 is $35,000

Explanation:

Straight line method depreciates the asset on its useful life after deducting salvage value from the cost of the asset.

Depreciation per year = ( Cost of Machine - Residual Value ) / Useful life

Depreciation per year = ( $42,000 - $7,000 ) / 10 years

Depreciation per year = $3,500 per year

Book value of machine at the end of year 2 = $42,000 - ( $3,500 x 2 )

Book value of machine at the end of year 2 = $42,000 - $7,000

Book value of machine at the end of year 2 = $35,000

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1. Cedric enters into a contract with Claudia to buy her house for $150,000. Claudia decides later not to sell
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Answer:

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2 years ago
Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the second quarter. It plans pro
Ksivusya [100]

Answer:

Purchases (in pounds)= 92,550

Total cost= $16,936,650

Explanation:

Giving the following information:

Budgeted production:

2nd quarter= 248,000 units

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Buying price= $183 per pound.

Desired ending inventory= 50% of next quarter’s budgeted materials.

To calculate the budgeted purchase of raw materials, we need to use the following formula:

Purchases= sales + desired ending inventory - beginning inventory

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Purchases (in pounds)= 92,550

Total cost= 92,550*183= $16,936,650

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