What role do executive agencies play in developing the federal budget?

Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead f

nadezda [96]

Answer:

The question is not complete, find below complete question:

Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead for the years was $760,000 and estimated direct labor hours were 20,000. What would be recorded as the cost of job WR53?

A. $200

B. $350

C. $380

D. $730

The correct option is D, $730 as shown below

Explanation:

Overhead absorption rate is given total overhead /direct labor hours

Overhead absorption rate=$760000/20000

=$38/ labor hour

Hence job WR53 would require $380($38*10 hrs) in overhead cost

The total cost of the job is given as follows:

Direct materials $200

Direct labor cost($15*10) $150

Overhead on the job <u> $380</u>

Total cost <u>$730</u>

The job WR53 would cost $730

In essence, for the job to be profitable, it must be sold at a price beyond $730, otherwise the job might be sold at a loss

7 0

3 years ago

Read 2 more answers

Financial statements can be prepared _____. (select all that apply.) multiple select question.

marysya [2.9K]

Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

<h3>What is financial statement?</h3>

Financial statement help to summarize the financial position of a business and it as well help to show the day to day transaction of a company or day to day activities of a business at a particular period of time.

Financial statement of a company can be prepared more that once in a year and financial statement may tend to have fiscal year end that is other than last month of the year which is 31st December.

Therefore Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.

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The complete question is:

Financial statements ______. (Select all that apply.)

a. must have a calendar year end of December 31

b. may be prepared more than once a year

c. may have a fiscal year end other than December 31

d. are prepared just once a year

8 0

2 years ago

Sole Mates Inc. is planning a one-month campaign for July to promote sales of one of its two shoe products. A total of $100,000

Cerrena [4.2K]

Answer:

Sole Mates Inc.

Differential analysis:

Tennis Shoe Walking Shoe

Unit selling price $85 $100

Unit production costs:

Direct materials $19 $32

Direct labor 8 12

Variable factory overhead 7 5

Unit variable selling expenses 6 10

Total variable costs $40 $59

Contribution margin per unit $45 $41

Tennis Shoe Walking Shoe Difference

Alternative 1 Alternative 2

Total contribution margin $315,000 $287,000 $28,000

Advertising costs (100,000) (100,000) 0

Total income (loss) ($215,000) $187,000 $28,000

Promote the Tennis Shoes (Alternative 1) because it will bring in more contribution margin than Alternative 2.

Explanation:

a) Data and Calculations:

Budgeted advertising costs = $100,000

Tennis Shoe Walking Shoe

Unit selling price $85 $100

Unit production costs:

Direct materials $19 $32

Direct labor 8 12

Variable factory overhead 7 5

Fixed factory overhead 16 11

Total unit production costs $50 $60

Unit variable selling expenses 6 10

Unit fixed selling expenses 20 15

Total unit costs $76 $85

Operating income per unit $9 $15

3 0

3 years ago

a personal account earmarked as a retirement supplement contains $292,200. suppose $250,000 is used to establish an annuity that

Hoochie [10]

Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. It will take about 120 quarters until the account balance reaches $0.

Amount invested (Present value) = $250000

Quarterly payment (At the end of each quarter) (P) = $4500

Interest Rate (Quarterly) (r) = 6% /4

= 1.5% = 0.015

A number of quarters (n) = ?

Future value at the end = 0

Present value of Annuity formula:

Present value = P × $(1-(1+r))^{(-n)} / r$

250000 = 4500 × $(1-((1+0.015))^{(-n)} / 0.015$

250000 = 300000 × $(1-((1+0.015)}}^{(-n)}$

250000 / 300000 = $1-(1+0.015)^{(-n)}$

0.83333 = $1-(1.015)^{(-n)$

n = 120

Hence is shall take 120 Quarters until the account balance is $0.

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3 0

1 year ago

18. The following gifts are received in 2016 by a not-for-profit entity: I. $2,000 specified by the donor to be used to pay sala

xeze [42]

Answer:

$7,000

Explanation:

Increase in Temporarily Restricted Net Assets = $2,000 + $10,000 + $5,000 = $17,000

Net increase in Temporarily Restricted Net Assets = Increase in Temporarily Restricted Net Assets - Amount of the conference room furniture purchased = $17,000 - $10,000 = $7,000

Note that the conference room furniture purchased is deducted because the donor did not stipulate a time restriction on holding the furniture.

Therefore, total amount should be recorded as an increase to Temporarily Restricted Net Assets is $7,000.

4 0

3 years ago