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Gemiola [76]
3 years ago
13

Sobota Corporation has provided the following partial listing of costs incurred during August:

Business
1 answer:
vladimir2022 [97]3 years ago
4 0

Answer:

a. The total amount of product cost is $369,800

b. The total amount of period cost is  $353,300

Explanation:

 Product costs are costs that are directly incurred in the production of goods. Products costs are traceable to production of goods. Examples of products costs are direct material cost and direct labor cost.

In contrast, period costs are costs that are incurred on the general affairs of the business. They are not related to production of goods. They are incurred on administering a business. Example includes salaries paid to directors of a company

Total amount of product cost                                       $                                                                          

Property taxes, factory                                               10,300

Indirect labor                                                               44,100

Direct materials                                                           172,600

Depreciation of production equipment                     48,300

Direct labor                                                                 <u> 94,500</u>

                                                                                    <u>369,800</u>

<u />

Total amount of period cost:                                       $

Marketing salaries                                                     51,900

Administrative travel                                                  105,000

Sales commissions                                                     52,400

Advertising                                                                 <u> 144,000</u>

                                                                                    <u>353,300</u>

     

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Answer:

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Customer incentives are offers given to customers by a company to attract and retain them. Businesses use incentives to convert potential customers into paying clients. Discounts are an example of external customer incentives.  They are used when a business faces competition from similar products by other companies. Business also offer end of the year, anniversary, and other seasonal discounts.

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The new-product process stage of market testing involves which two items? Multiple select question. using realistic purchase con
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The new-product process stage of market testing involves  two items -

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Suppose that the price of a money clip increases from $0.75 to $0.90 and quantity supplied rises from 8,000 units to 10,000 unit
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Explanation:

Please refer to the attached file

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Calculate revenue. Revenue is the quantity sold times the price for the product. The quantity sold will be the smaller of the qu
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Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 88,000 Pounds started into productio
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Answer:

1. materials = 569,000 units , conversion = 556,000 units

2. materials = $1.15 , conversion = $0.70

3. materials = $44,850 , conversion = $18,200 , total = $63,050

Explanation:

For this question, i will assume that the <em>Weighted Average Cost Method</em> is used since we do not have information on the specific method applied by this company.

<u>Calculation of the equivalent units of production for materials and conversion</u>.

1. Materials

Closing Work in Process (65,000 × 60%)            =    39,000

Completed and Transferred to Finished Goods =  530,000

Equivalent units of production for materials       =   569,000

2. Conversion Costs

Closing Work in Process (65,000 × 40%)            =    26,000

Completed and Transferred to Finished Goods =  530,000

Equivalent units of production for materials       =   556,000

<u>Calculation of the cost per equivalent unit for materials and conversion</u>

Remember :

<em>Cost per equivalent unit = Total Costs ÷ Total Equivalent units</em>

<em>therefore,</em>

1. Materials

Cost per equivalent unit =  ($ 106,000 + $ 551,120) ÷ 569,000

                                        =  $1.15

2. Conversion Costs

Cost per equivalent unit =  ($ 59,700 + $ 328,230) ÷ 556,000

                                        =  $0.70

<u>Calculation of the cost of ending work in process inventory for materials, conversion, and in total</u>

Materials ($1.15 × 39,000)                             = $44,850

Conversion Costs ($0.70 × 26,000)             = $18,200

Total cost of ending work in process           = $63,050

3 0
3 years ago
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