1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mama L [17]
3 years ago
14

5) Ryans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.

The company based its predetermined overhead rate for the current year on the following data: 16 POINTS Total machine-hours 10,000 Total fixed manufacturing overhead cost $71,000 Variable manufacturing overhead per machine-hour $2.50 Recently Job P512 was completed with the following characteristics: Number of units in the job 30 Total machine-hours 60 Direct materials $870 Direct labor cost $2,400 Required: a. Calculate the predetermined overhead rate for the year. b. Calculate the amount of overhead applied to Job P512. c. Calculate the total job cost for Job P512. d. Calculate the unit product cost for Job P512
Business
1 answer:
posledela3 years ago
8 0

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The company based its predetermined overhead rate for the current year on the following data:

Total machine-hours 10,000

Total fixed manufacturing overhead cost $71,000

Variable manufacturing overhead per machine-hour $2.50

Recently Job P512:

Number of units in the job 30

Total machine-hours 60

Direct materials $870

Direct labor cost $2,400

A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base= (71000/10000)+2.5= $9.6 per machine hour

B) Allocated overhead= 9.6*60 hours= $576

C) Total cost= 870+2400+576= $3846

D) Unitary cost= 3846/30= $128.2

You might be interested in
Select all that apply.
Evgesh-ka [11]
As a result of the Great Leap Forward, industrial production declined and power shifted to conservative Communist leaders. The answers would be the second and third option. The Great Leap forward also resulted in widespread famine. This led to decrease production, starvation and even c<span>hallenges to Mao Zedong's position. Hope this answer helps.</span>
4 0
3 years ago
Read 2 more answers
In Step 4, the EUP from Step 2 and the cost per EUP from Step 3 are used to assign costs to the:______ (You may select more than
Licemer1 [7]

Answer:

Option B. Units completed and transferred to finished goods

&

Option C. Units in ending work in process inventory

Explanation:

The reason is that the Equivalent units of Production that include number of units that would have been completed if all the efforts required were applied to the product completion which are the products started and finished during the period. The definition clearly states that the units considered would be the one that are shifted to finished goods from work in progress state in the current year or the one which is at work in progress state.

In the nutshell, the only units that would be considered in the assignment of the cost in the Step 4 will be either Work in Progress (Option C) or the Finished Goods that is shifted to Work in Progress (Option B).

7 0
3 years ago
Suppose we observe that as the price of lettuce increases from $1 to $2 per head, consumers buy only half the number of heads of
alex41 [277]

Answer:

C. A decrease in the quantity demanded

Explanation:

Price Elasiticity

The law of demand and supply would usually hold that an increase in prices will result in a decrease in demand. Furthermore, an increase in demand generates a corresponding increasing in supply as well.

<u>When the demand of a product is sensitive to the changes in price, then we say that price of the product is elastic</u> but if the product demand not strongly influenced  by price then we say that the pricing is inelastic.

In the case of the lettuce, we can say that the price is elastic, because there is a sensitive reaction between an increase in price from $1 to $2 which immediately leads to a halfing of the quantity demanded. The price is elastic such that an increase in price leads to a decrease in quantity demanded.

8 0
3 years ago
Economists usually assume that production is subject to increasing opportunity costs because: a. higher production usually resul
umka2103 [35]

Answer:

d. not all resources are equally suited to producing every good.

Explanation:

The rule of increasing cost of opportunity is the principle that, when you keep increasing the development of one item, the cost of opportunity of creating the next unit rises. It occurs just as you redistribute resources to create one product which was ideally suited to create the initial product.

8 0
3 years ago
With relevant examples discuss intangible business property that is protected by law and which an entrepreneur should consider w
ipn [44]

Answer:

Explanation:

Intangible property are useful resources, they are asset that are not physical but they produce much economic benefits to organization , entrepreneur.some of this asset are Goodwill, brand recognition, as well as intellectual property.

Some of these intangible asset are intellectual property and are protected by law from stealing away by those that are not authorized to it.

Examples of intangible business property that is protected by law are:

✓patent

✓copyright

✓ franchises

✓trade mark

✓Goodwill

✓tradenames

✓ trade secret

1)Patent is one of the intangible asset granted by government and protected to an inventor who is entrepreneur that exclude others from selling as well as using the invention for particular period of time. If an entrepreneur comes up with an invention it will be protected for him/ her. it can be categorized as utility, design, and plant. Example of invention that falls under utility is microwave oven. Other invention are light bulb, printing press.

2) copyright is another intangible property, in which the original works of authorship of an entrepreneur is protected, dramatic, musical work as well as computer software, and architecture of an entrepreneur is protected, this will help the entrepreneur to enjoy the benefits of his/her labor and to grow fast in term of finance.

3)trademark is another intangible property that is protected by law which includes design, expresion, sign that identifies the product of a company from another, when an entrepreneur is starting a business , trademark is important because his/her product will be easier to identify by consumer and this helps business to grow faster. Example is the logo that Apple( apple shape with a bite) uses as trademark on all their products, swoosh logo that Nike uses on their products

4)trade secrets is an intangible property as well as intellectual property that is been protected by law it contains processes, design, information with inherent economic values that are not generally known by everyone, this is important to enterprenurer because trade secret helps the individual with the secret to sustain his/her business without been hijacked. Example of trade secret is the

secret formula for Coca-Cola which other soft drinks producer doesn't know.

5 0
2 years ago
Other questions:
  • On January 1, 2021, D Corp. granted an employee an option to purchase 6,000 shares of D's $5 par common stock at $20 per share.
    7·1 answer
  • Imagine that in 2010, the economy is in long-run equilibrium. Then stock prices rise more than expected and stay high for some t
    8·1 answer
  • The u.s. dollar is an example of ________. convertible currency soft currency nonconvertible currency private currency
    13·1 answer
  • You write one JNJ February 70 put for a premium of $5. Ignoring transactions costs, what is the break-even price of this positio
    11·1 answer
  • Import tariffs generally ________ the output of domestic producers of the affected products and also _________ the output of dom
    5·1 answer
  • revorrow Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets a
    9·1 answer
  • a. Computer stocks currently provide an expected rate of return of 16%. MBI, a large computer company, will pay a year-end divid
    6·1 answer
  • Presented below is information related to Shamrock Corp., which sells merchandise with terms 2/10, net 60. Shamrock Corp. record
    7·1 answer
  • Why the feedback form is so important for the trainer and the training itself?​
    7·2 answers
  • Is water wet or....?
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!