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vladimir1956 [14]
3 years ago
8

A golf ball manufacturer gives us its data for the year: WIP Inventory, January 1 Units started Units completed and transferred

out WIP Inventory, December 31 Direct materials Direct labor Manufacturing Overhead 0 units 9,500 units 6,400 units 3,100 units $15,478 $7,400 $5,611 Units in ending WIP Inventory were 90% complete for materials and 60% complete for conversion costs. On December 31, the total costs of units completed and transferred would be closest to (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.) A. $30,964 B. $7,327 c. $10,106 D. $7,629.
Business
1 answer:
N76 [4]3 years ago
6 0

Answer:

c. $10,106 if taken separately for Direct Material or Conversion Costs

Or None of these as total cost is $ 10,779+$ 10,081= $20860 for units transferred out

Explanation:

                                         

                                              Units         % of                       Eq. Units

                                                              Completion      D.M          Conversion

Units completed and

transferred out                 6,400 units         100%            6400           6400

WIP Inventory,                  3,100 units         90%,60%       2790           1860

December 31

<u>Total Units to account for                                                 9190             8260</u>

Direct materials            $15,478

Direct labor                    $7,400

Manufacturing Overhead  $5,611

Direct Material Cost per unit= $ 15478/9190= $ 1.684

Conversion Cost per unit=   $13011 / 8260= 1.575=$ 1.58

Direct Material Cost for Completed units = 6400 * $1.684= $ 10,779

Conversion Cost for Completed units = 6400 *1.575= $ 10,081

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On April 23, Mrs. Y purchased a taxi business from Mr. M for a $60,000 lump-sum price. The business consisted of a two-year-old
vladimir2022 [97]

Answer:

Follows are the solution to the given points:

Explanation:

In point a:

It must allocate \$19000 for both the taxicab and \$41,000 for the rest of the license, the client list, and the company name registered.

Its cost of intangible material could be amortized for 180 months starting in April. (\frac{41,000}{180}) \times 9\ \ months = \$2,050 is her amortization deduction.

She could also use Section 179 to decrease her taxable money to \$17,890 (\$36,890 - \$19,000) but include her deduction.

Her taxable annual income is \$15,840 (\$17,890 - \$2,050).

In point b:

They must allocate \$19,000 for the taxi and\$41,000 for their licenses, the customer list as well as the business by interacting with people register. Its cost of the material could be depreciated for 180 months, starting in April.

(\frac{41,000}{180}) \times 9\ \ months = \$2,050  is her amortization deduction.

The taxable income here = \$0 (from \  \$17,100 -\$19,000) = -1,900.

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As all Section 179 is unpaid with other earned income, it is carried forward into the next year.

3 0
3 years ago
The cross-price elasticity between gillette razors and a related good is -3. What happens to the demand for the related good if
Deffense [45]

If the price of Gillette razors falls by 10 percent the demand for the related goods will rise by 34%.

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8 0
1 year ago
If a Cournot duopolist announced that it will double its output A. the other firm will double output also. B. the other firm doe
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Answer:

B) the other firm does not view the announcement as credible

Explanation:

The reason is that the other firm thinks that the announcing firm will make losses as it will not be able to sell the products in an imperfect market where both the firms have identical cost functions and knew all about the cost. So increasing the production when the demand is the same will decrease the price of the product and result in increased losses to the announcing company.

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3 years ago
The negotiated ________ agreement outlines the rights of both parties in the negotiating process, including work hours, wages, e
Kruka [31]

Answer:

labor-management

Explanation:

Labor-management agreement is when the leaders and the employees of a company make an agreement that has the goal of protecting the rights of the parties involved and define aspects like salaries and working conditions of the employees. According to this, the answer is that the negotiated labor-management agreement outlines the rights of both parties in the negotiating process, including work hours, wages, employee benefits and grievance procedures because this agreement between employees and employers establishes the conditions the employees will receive for their services to avoid disputes and protect the rights of the parties.

7 0
3 years ago
Fogerty Company makes two products—titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per U
olchik [2.2K]

Answer:

Fogerty Company

1. Computation of the Activity Rate for each Activity Cost Pool:

a. Machine setup = $31,590/243 = $130 per setup

b. Special processing = $282,000/4,700 = $60 per machine hour

c. General factory = $700,400/41,200 = $17 per direct labor hour

2. Computation of the Unit Product Cost, using activity-based absorption costing:

                                        Titanium Hubs         Sprockets

Direct materials                      $39.00                 $39.00

Direct labor                              $14.40                   $7.20

Overhead                                $23.93                   $7.11

Total unit cost                         $77.33                  $53.31

Explanation:

a) Data:

                                        Titanium Hubs         Sprockets

Direct Labor-Hours per Unit  0.80                     0.40

Annual Production                  29,000 units      45,000 units

Direct materials                       $39 per unit      $12 per unit

Direct labor wage rate is $18 per hour

Total direct labor hours         23,200 hours      18,000 hours

Direct labor cost                     $417,600             $324,000

Direct labor cost per unit         $14.40                  $7.20

Direct materials costs           $1,131,000            $540,000

Activity costing system for Overhead Costs:

                                                      Titanium Hubs    Sprockets      Total

Activity                           Costs          

Machine setups            

 (number of setups)     $31,590           135                108                243

Special processing

(machine hours)       $282,000         4,700                0                4,700

General factory

 (direct labor hours) $700,400      23,200            18,000          41,200

Activity Rate:

a. Machine setup = $31,590/243 = $130 per setup

b. Special processing = $282,000/4,700 = $60 per machine hour

c. General factory = $700,400/41,200 = $17 per direct labor hour

d) Determination of overhead per unit cost

                                        Titanium Hubs         Sprockets

Machine setup                   $17,550                     $14,040

Special processing         $282,000                 $0

General factory               $394,400                 $306,000

Total overhead               $693,950                 $320,040

Annual Production          29,000 units            45,000 units

Overhead cost per unit   $23.929                    $7.112

e) Activity-based costing system is a costing technique where costs are grouped into activity pools and the costs to be allocated to each product or service depends on its consumption from the activity pools involved.  The identification of activities in an organization is a way of explaining that costs are caused by activities and not by their nature or period incurred.

5 0
3 years ago
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