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alexandr1967 [171]
3 years ago
14

Brief Exercise 23-1 Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 534,000 un

its. Total estimated cost for materials and labor are $1,441,800 and $1,762,200. Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, e.g. 1.25.) Materials Labor (a) Standard cost $ $ (b) Budgeted cost $ $
Business
1 answer:
guajiro [1.7K]3 years ago
6 0

Answer:

a. $6

b.  $3204000

Explanation:

Given:

  • Product X is 534,000 units
  • cost for materials $1,441,800
  • cost for labour: $1,762,200

(a) a standard cost

As we know standard cost is the cost of producing 1 unit and is recorded in a standard cost card. However, the cost of labor, materials and overhead are used to make a single unit, so

standard cost = unit variable cost =  the total cost / the total number of unit.

In this situation, the overheading cost is not gven, so the total cost:

= The cost of labor + materials

= $1,441,800 + $1,762,200

= $3204000

=> standard cost  = $3204000  / 534,000 = $6

(b) a budgeted cost represents the total costs

The total number of units * standard cost

= 534,000 * 6

=   $3204000

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The correct answer to this open question is the following.

The guidelines you will develop for supervisors to successfully respond to employee questions about unionization would be the following.

The first thing the supervisor can do is establish an open door policy to always listen to employees' concerns. This is of the utmost importance because one of the factors that impact employee's morale is the lack of communication and the sentiment of not being important for the organization.  

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What the supervisors can say that is legally permissible in this situation is to inform workers that they have the right to express themselves and be heard, as well as freely join the union they feel most comfortable with, always inviting the worker to first directly address their issues within the company.

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3 years ago
Suppose your company reports $210 of net income and $50 of cash dividends paid, and its comparative balance sheet indicates the
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Answer:

The Operating Activities Section of the Statement of Cash Flows, using the indirect method:

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In preparing the operating activities section of the Statement of Cash Flows, two methods are used.  The direct method and the indirect method.

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Vesting refers to;
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Answer:

The correct answer is A

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So, it is best described as the how long the employee owns or vest any contributions of the employer to the pension plan of the employee.

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Answer:

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Answer:

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