1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pogonyaev
3 years ago
15

Tandoi Furniture started and finished Job 310 during April.The company's records show that the following direct materials were r

equisitioned for Job 310:Direct Materials for Job 310:Lumber: 50 units at $5 per unitPadding: 11 yards at $13 per yardUpholstery fabric: 28 yards at $30 per yardLabor time records show the following employees (direct labor) worked on Job 310:Labor Time Records for Job 310:Jeff Paradise: 11 hours at $9 per hourJohn Maddock: 12 hours at $18 per hourTandoi allocates manufacturing overhead at a rate of $14 per direct labor hour.Requirements:1. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310's job cost record2. Job 310 consists of six recliners. If each recliner sells for $725, what is the gross profit per recliner?
Business
1 answer:
mihalych1998 [28]3 years ago
6 0

Answer:

Total Direct Materials Cost               $ 1,233

Total Direct Labour Cost                   $   315

Total Manufacturing Overhead        $ 322

Profit per recliner                                $ 415

Explanation:

Computation of Direct Materials Cost

Lumber 50 units @ $ 5 per unit                                                    $ 250

Padding 11 yards @ $ 13 per yard                                                  $ 143

Upholstery fabric 28 yards @ $ 30 per yard                                <u>$ 840</u>

Total Material Cost                                                                       <u> $ 1,233</u>

Computation of Direct Labour Cost

Jeff Paradise 11 hours @ $ 9 per hour                                          $    99

John Maddock 12 hours @ $ 18 per hour                                     <u>$  216</u>

Total Labor Costs                                                                           <u>$ 315</u>

Computation of Manufacturing Overhead

Total number of hours     23 hours

Overhead rate $ 14 per direct labour hour

$ 23 per hour * $ 14 per hour                                                       <u> </u><u>$ 322</u>

Total Manufacturing Costs                                                          <u> $ 1,860</u>

Costs per recliner  $ 1,860/6                                                         <u>$ 310</u>

Sales price                                                                                       $ 725

Profit per recliner                                                                            $ 415                                                                          

You might be interested in
The risk associated with the unlikelihood that one of the key members will be struck by lightning would most likely be handled b
vova2212 [387]

Answer:

B) Retaining

Explanation:

Retaining risk refers to the risk in which the company could able to take the decision with respect to the responsibility for some particular risk

Here in the given situation it represents that the risk is associated with one of the key members so this presents the responsibility that should be considered while retaining a risk

Hence, the correct option is B.

7 0
3 years ago
Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory accou
Sergio039 [100]

Answer and Explanation:

1. The computation of the predetermined overhead rate is shown below:

= Overhead applied ÷ direct material cost

= $846,000 ÷ $1,800,000

= 47%

2. The direct labor and overhead cost assigned to the job is shown below:

Total cost $89,000

Less: direct material cost $32,000

Less: overhead cost  $15,040 ($32,000 × 0.47)

Direct labor cost $41,960

7 0
3 years ago
How much does a pediatrician make in a month?
Sati [7]
 they make  135000 a month

3 0
3 years ago
Which of the following is considered important in a company's attempt to strengthen partner relationships? Group of answer choic
enot [183]

Answer:

All of the above are considered important in strengthening partner relationships

Explanation:

Partner relationship exists when two or more people come together to undertake a business venture. Profits and losses are between all partners.

Maintaining a good partner relationship ensures that the business performs and meets its goals.

A strategic path for objectives of the partners means the business does not only plan but executes its plans.

Shared vision and objectives ensures the partners work in harmony to achieve set targets.

The obejecives should be measureable, this sets realistic milestones.

Also shared vision and objectives should be formally agreed to by all parties.

8 0
3 years ago
Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a
Marina CMI [18]

Answer:

$250  ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3>  particulars                                                                   amount</h3>

Beginning accounts receivable                                                     14000

+ Credit sales made during the year                                             172000

(-) collections from debtors                                                            (170000)

(-) expected salary return & allowances for credit sales               (2000)

Ending accounts receivable                                                          14000

Percentage of bad debt                                                                 1.5%

Total bad debts balance required ( 14000*1.5%)                          210

+ Already debit balance in allowance for doubtful account         40

Total debit to be made in bad debts                                              250

Total debts = total bad debts balance required + already debit balance in all

                  =  210 + 40 = $250

7 0
3 years ago
Other questions:
  • Consider a hypothetical economy where there are no taxes and no international trade. households spend $0.80 of each additional d
    9·1 answer
  • Maxwin Infomatics Corp., a nationwide logistics company, has announced the opening of a new unit for the manufacturing division.
    15·1 answer
  • You buy a put option to sell stock at $35. The price of the stock is $34 when you bought it, and the price paid for the put is $
    15·1 answer
  • During March, the production department of a process operations system completed and transferred to finished goods 23,000 units
    6·1 answer
  • A manager hires labor and rents capital equipment in a very competitive market. Currently the wage rate is $12 per hour and capi
    6·1 answer
  • Kelsey Construction has purchased a crane that comes with a 5-year warranty. Repair costs are expected to average $5000 per year
    10·1 answer
  • Please help answer economics questions for 100 points and brainliest
    12·1 answer
  • Credit reporting agencies are required to exclude negative information that is older than five years old. A) True B) False​
    7·1 answer
  • Fran, a spokesperson for her company, gives a speech harshly criticizing the mayor and his business policies. Fran's boss, howev
    14·1 answer
  • the number of families receiving assistance under TANF had dropped by ______ within five years of its enactment
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!