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Snowcat [4.5K]
3 years ago
11

direct materials $34, direct labor $27, variable manufacturing overhead $15, fixed manufacturing overhead $43, variable selling

and administrative expenses $20, and fixed selling and administrative expenses $28. Its desired ROI per unit is $31. Compute the markup percentage using absorption-cost pricing.
Business
1 answer:
Natalija [7]3 years ago
6 0

Answer:

Mark- up = 26.05%

Explanation:

<em>Absorption costing is method of costing where overheads are charged to units produced using volume-based bases. e.g machine hours, labour hours e.t.c. Units are valued using full cost per unit </em>

Full cost per unit= Direct material cost + direct labor cost + variable manufacturing overhead + fixed manufacturing overhead

Note that the selling and administrative expenses are period cost which are not to be considered as production cost, hence they are excluded.

Full cost per unit= 34 + 27 +15 +43 = 119

ROI per unit/profit per unit = 31

Mark- up under absorption costing is profit expressed as a percentage of of the full cost.

Mark- up = 31/119 × 100 = 26.05%

Mark- up = 26.05%

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The journal entry to record the purchase of materials on account in process cost accounting is a(n): Multiple choice question. i
Lilit [14]

The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.

<h3>What is a journal entry?</h3>

Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.

In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.

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7 0
2 years ago
This style of leadership may stunt the development of employees and ties the organization’s success to its leader.
antiseptic1488 [7]

Answer:

Autocratic

Explanation:

In autocratic leadership, the manager or leader makes all decisions on behalf of the company or group. The leader does not seek or consider the inputs of others when making decisions. The autocratic leadership style is the same as the dictatorship style.

An autocratic leader issues orders or commands which the subordinates are expected to follow to the latter. When the organization archives success, all the credit goes to the leader.

8 0
3 years ago
Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $215,000. The
Rudiy27

Answer:

a. $135,845.77

b. $79,154.23

Explanation:

The computation of the basis is shown below:

a. For Land

= Total value of the property × land appraised value ÷ Total appraisal value

= $215,000 × $158,750 ÷ $251,250

= $135,845.77

b. For warehouse

= Total value of the property × warehouse appraised value ÷ Total appraisal value

= $215,000 × $92,500 ÷ $251,250

= $79,154.23

The total appraisal value is

= $92,500 + $158,750

= $251,250

8 0
3 years ago
Consider the following transactions for Huskies Insurance Company:
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Answer:

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

31-Dec

Dr Interest receivable $1,750

Cr Interest revenue $1,750

31-Dec

Dr Deferred Revenue $4,000

Cr Revenue or Service Revenue $4,000

Explanation:

Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

(Being to adjust 12 month depreciation)

31-Dec

Dr Interest receivable ($50,000 x 7% x 6/12) $1,750

Cr Interest revenue $1,750

(Being to adjust 6 month interest revenue accrued)

31-Dec

Dr Deferred Revenue ($16,000 x 3/12) $4,000

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(Being to record earned revenue for 3 months)

6 0
2 years ago
. Specifically what recruiting sources would you use to attract participants to the Techtonic Academy, and apprenticeship progra
Sholpan [36]

The use of current employees as brand ambassadors can be the way that one would  use to attract participants to the Techtonic Academy, and apprenticeship programs.

<h3>What is meant by recruiting sources?</h3>

This is the term that is used to refer to the way that a business would be able to get other workers to be on board in that particular firm. One of the ways that this is done is through the use of the people that currently work in the given establishment.

Hence the The use of current employees as brand ambassadors can be the way that one would  use to attract participants to the Techtonic Academy, and apprenticeship programs.

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6 0
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