Answer:
Gross margin= $744,760
Explanation:
<u>The absorption costing method includes all costs related to production, both fixed and variable.</u> The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unitary fixed overhead= 52,900 / 21,500= $2.46
Total unitary production cost= 10.3 + 12.3 + 3.3 + 2.46= $28.36
<u>Now, the gross margin:</u>
Gross margin= sales - COGS
Gross margin= 21,500*63 - 21,500*(28.36)
Gross margin= $744,760
Answer:
-valid driver's license
- 18 years old or more (for younger than 18 you can look into limited involvement as a junior firefighter.)
- At least a high school diploma or GED.
- pass the physical ability test.
- Pass the written exam
- pass the interview
-You’ll still need to attend a department’s academy once hired
(may be differnt depending on your state, country, etc)
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Answer:
D) Original cost.
Explanation:
When the company uses the lower of cost or market method, it should assign value to its inventory by calculating the middle figure between replacement cost or net realizable value, and net realizable value - normal profit.
In this case, the market value must be either the replacement cost or the net realizable value, but both values are the highest. Since the original cost is below the market value, but above the net realizable value - normal profit, the inventory must be valued at the original cost.
Answer:
The correct answer is B. Correct! Since Ace is not in control of the actions of Kosier (an independent contractor), Ace would generally not be responsible for Kosier's torts.
Explanation:
An independent contractor is a person who is hired to do a specific job. It is said that she is her own boss because she controls how and where the work is done.
These people have greater freedom and only undertake to perform the specific function they agreed with the person owning a company. For example, the independent contractor agrees that he will serve clients at a 9 a.m. store. at 1 p.m. or that he will go to the meetings and prepare a report on the subject assigned to him. Outside these specific functions, the independent contractor controls how he manages his time.
Answer:
The total cost of Job 903 is $5,073.20
Explanation:
The computation of the total cost is shown below:
= Direct material used + Direct labor cost + overhead cost (Predetermined manufacturing overhead rate per direct labor hour × Direct labor hours used in Job 903)
= $3,200 + $1,092 + ($18.60 × 42 labor hours)
= $3,200 + $1,092 + $781.20
= $5,073.20
