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3 years ago

The concept by which pay is distributed based on work produced rather than hours worked was called _______________.

1 answer:

7 0

The concept by which pay is distributed based on work produced rather than hours worked was called piece work. Piece work, or output work as it is sometimes called, is the concept that workers are paid for work produced rather than the number of hours worked. Hope this answers the question. Have a nice day.

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Audrey is debating the superiority of a market economy with her friend Bill. Audrey supports her argument in favor of a market e

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Adam Smith's invisible hand theory is the concept that in a market where people are free to buy and sell as they please, buyers will buy goods that sellers offer at prices that work for all parties.

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3 years ago

Suppose the market for corn is a purely competitive, constant-cost industry that is in long-run equilibrium. now assume that an

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After all resulting adjustments have been completed, the new equilibrium price will less than the initial price and output. The same will happen to the industry output. In each situation in which an increase in product demand occurs in a decreasing-cost industry the result is: the new long-run equilibrium price is lower than the original long-run equilibrium price.

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3 years ago

What is the total manufacturing overhead assigned to the current order for Men's Razors if the firm uses a volume-based plant wi

Brut [27]

Answer:

$7,200

Explanation:

The computation of the total manufacturing overhead assigned is shown below:

= ($168,640 + $127,840 + $554,400 + $1,078,000) ÷ $514,368

= 375% per direct-labor dollar.

Now

= $514,368 ÷ 8,037

= $64 per DL hour.

And,

= $64 × 30 direct labor hours

= $1920.

So,

Manufacturing overhead is

= 1920 × 375%

= $7,200

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3 years ago

Champagne of the South, Inc., a manufacturer of bottled sweet tea, had the following beginning and ending inventories for the

nekit [7.7K]

Answer:

total manufacturing cost added for the period 105,169

Cost of goods manufactured 106,064

Cost of goods sold 110,564

Explanation:

First, we need to know the amount of direct materials used in production.

beginning raw materials 10,000

purchase 27,000

ending (1,702)

indirect materials (2,129)

direct materials 33,169

now, we calculate the cost added during the period

direct materials 33,169

direct labors 30,000

overhead 42,000

total cost added 105,169

next step, we calculate the cost of goods manufactured from the WIP

WIP 17,895

added 105,169

WIP ending (17,000)

COGM 106,064

And last, the cost of goods sold

beginning finished goods 21,000

COGM 106,064

ending finished goods (16,500)

COGS 110,564

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3 years ago

Coast to Coast Surfboards Inc. manufactures and sells two styles of surfboards, Atlantic Wave and Pacific Pounder. These surfboa

podryga [215]

Answer:

Contribution margin ratio:

For East Coast = 10%

For West Coast = 8.05%

Explanation:

As per the data given in the question,

Contribution margin by sales territory report :

C C S Inc.

Contribution margin by Territory

Particulars East Coast West Coast

Sales (a) $8,400,000 $8,610,000

(30,000×$280)+(0×$130)

(21,000×$280)+(21,000×$130)

Less: variable cost of goods sold(b) $6,600,000 $6,657,000

(30,000×$220)+(0×$97)

(21,000×$220)+(21,000×$97)

Manufacturing margin (c=a-b) $1,800,000 $1,953,000

Less: Variable selling expense (d) $960,000 $1,260,000

(30,000×$32)+(0×$28)

(21,000×$32)+(21,000×$28)

Contribution margin (e=c-d) $840,000 $693,000

For East Coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($840,000÷ $8,400,000)×100

= 10%

For west coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($693,000 ÷ $8,610,000)×100

= 8.05%

4 0

3 years ago