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zmey [24]
3 years ago
6

Lucas Co. has a job-order cost system. For the month of April, the following debits (credits) appeared in the general ledger acc

ount, work-in-process: April 1 Balance $ 24,000 30 Direct materials 80,000 30 Direct labor 60,000 30 Factory overhead 54,000 30 To finished goods (200,000) Lucas applies overhead to production at a predetermined rate of 90% based on direct labor cost. Job No. 100, the only job still in process at the end of April, has been charged with factory overhead of $4,500. The amount of direct materials charged to Job No. 100 was
Business
1 answer:
aliya0001 [1]3 years ago
5 0

Answer:

direct material charge = $8500

Explanation:

given data

April 1 balance = $24000

April 30 Direct materials = 80000

April 30 Direct labor = 60000

April 30 Factory overhead = 54000

April 30 finished goods =  200000

so balance is = finished goods - ( balance + Direct materials + Direct labor + Factory overhead )

put here value

balance =  200000 - ( 24000 + 80000 + 60000 + 54000 )

balance = 18000

so here balance above $18000 is total manufacture cost of job no 100

so direct material charge for job no 100 is

direct material charge =  manufacturing cost - applied cost - direct labour cost

direct material charge = 18000 - 4500 - 5000

direct material charge = $8500

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The responsibility report for the Augusta Division shows budgeted contribution margin of $2,000,000 and budgeted controllable fi
Mumz [18]

Answer:

D) is 20% above expectations.

Explanation:

The Augusta Division was supposed to earn a net profit of $1,000,000 (= $2,000,000 - $1,000,000). Since the division's manager and his/her team were able to cut reduce fixed costs to $900,000 and increase contribution margin to $2,100,000 (either by increasing selling price or reducing variable costs), then the division earned a net profit of $1,200,000 (= $2,100,000 - $900,000). This net profit is 20% higher than expected, therefore the manager's (and his/her team's) overall performance was 20% above expectations.

5 0
3 years ago
Dartmouth Assessment Centre screens and trains employees for a computer assembly firm in Halifax. The progress of all trainees i
alexdok [17]

Answer:

Discourage Torri from continuing. Encourage Julie to continue.

Explanation:

The progress of all trainees is tracked. Those not showing good progress are moved to less demanding programs. This means that there is hope of still doing/getting a job, if they don't pass this test.

REQUIREMENT: By the 10th time doing the test, trainees must be able to complete the task in a maximum of 1 hour.

1st Trainee: Torri Olson-Alves

5 hours on Unit 4;   4 hours on Unit 8

Should Torri be encouraged to continue? NO.

There are 10 units or repetitions in all. If Torri spends 5 hours on Unit 4 and spends 4 hours on Unit 8, then Torri is slow or isn't making much progress. After 4 repetitions, her marginal product only increased by an hour. She most likely won't make it to 1 hour by the 10th repetition.

2nd Trainee: Julie Burgmeier

4 hours on Unit 3;   3 hours on Unit 6

Should Julie be encouraged to continue? YES.

Julie makes a progress of 1 hour after 3 repetitions. We can predict that after another 3 repetitions (on Unit 9) progress would be made again and by Unit 10, she would have met the required benchmark.

3 0
3 years ago
You are called in as a financial analyst to appraise the bonds of Olsen's Clothing Stores. The $1,000 par value bonds have a quo
Dominik [7]

Solution:

a.

N I/Y PV PMT FV

10 × 2 10 / 2 CPT

PV −1,000.00 100 / 2 1,000

10%/2=5% *1000= 50

n=20

i=5%

pmt 50

fv 1000

Answer: $1,000.00

b.

N I/Y PV PMT FV

5 × 2 10 / 2 CPT

PV −1,000.00 100 / 2 1,000

n=8

pmt 50

i 5%

fv 1000

Answer: $1,000.00

a.

Appendix D

Present value of interest payments:

PVA = A × PVIFA (5%, 20)

= $50 × 12.462

= $623.10

Appendix B

Present value of principal payment at maturity:

PV = FV × PVIF (5%, 20)

= $1,000 × .377

= $377.00

Bond price = $623.10 + 377.00

= $1,000.10

b.

Appendix D

Present value of interest payments:

PVA = A × PVIFA (5%, 10)

= $50 × 7.722

= $386.10

Appendix B

Present value of principal payment at maturity:

PV = FV × PVIF (5%, 10)

= $1,000 × .614

= $614.00

Bond price = $386.10 + 614.00

= $1,000.10

6 0
3 years ago
Melissa recently paid $610 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also
zavuch27 [327]

Answer:

A. $2,325

B. $2,325

C. $0; $1,715

D. $598.5

Explanation:

A. Calculation to determine the amount of the travel costs can Melissa deduct as business expenses

Round trip airfare $610

Conference registration fees $385

3 nights lodging $1,005

($335*3)

Meals $150

(300*50%)

Cab fare $175

Total deduction $2,325

Therefore the amount of the travel costs can Melissa deduct as business expenses will be $2,325

b. Calculation to determine What amount of the travel costs can Melissa deduct as business expenses

Based on the information given the amount of the TRAVEL COSTS that Melissa can deduct as BUSINESS EXPENSES will still be $2,325.

Round trip airfare $610

Conference registration fees $385

3 nights lodging $1,005

($335*3)

Meals $150

(300*50%)

Cab fare $175

Total deduction $2,325

c. Calculation to determine What amount of the airfare can Melissa deduct as a business expense

Based on the information given Airfare will NOT BE DEDUCTIBLE

Hence;

Total Airfare deductible = $0

Total expenses deductible = $2,325 - $610

Total expenses deductible = $1,715

d. Calculation to determine the amount of the travel costs can Melissa deduct as business expense

Registration fee $385

Mileage $43.5

($75*0.58)

Parking $170

Total deductible $598.5

Therefore the amount of the travel costs that Melissa can deduct as business expense is $598.5

3 0
3 years ago
Suppose that $2000 is invested in an account that pays interest compounded continuously. Find the amount of time that it would t
PolarNik [594]

Answer:

It will take 13.2 years to reach $4,000.  

Explanation:

Giving the following information:

PV= $2,000

FV= $4,000

i= 0.0525

<u>To calculate the time required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / i

n= ln(4,000/2,000) / 0.0525

n= 13.2

It will take 13.2 years to reach $4,000.  

8 0
2 years ago
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