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3 years ago

Fill in the blanks.

1 answer:

5 0

Marginal cost is defined as "the cost added by producing one extra item of a product," according to dictionaries. Having that in mind, the correct answer is 1) marginal cost.
A company charges $5 for its product. This monetary amount represents the marginal cost of making an extra unit of the product.

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If a gain of $5,292 is realized in selling (for cash) office equipment having a book value of $50,960, find the total amount rep

kati45 [8]

Answer:

$56,252

Explanation:

For the investing activities we should post the proceeds from the sale, not the gain or the book value of the equipment

if there is a gain, then it was sold above the book value by this amount

proceeds - book value = gain

book value: 50,960

gain: 5,292

proceeds - 50,960 = 5,292

proceeds = 50,960 + 5,292 = 56,252

8 0

3 years ago

Department M had 2,000 units 59% completed in process at the beginning of June, 11,400 units completed during June, and 900 unit

satela [25.4K]

Answer:

Total equivalent units= 10,490

Explanation:

Equivalent Units

To apportion cost between work in progress and completed units in a particular period, we use equivalent units. Equivalents units are notional whole units which represent incomplete work and are used to apportion cost between completed units and work in progress

Equivalent Units = Degree of Completion × Units of inventory

Under the first in first out(FIFO) method, to account for the units of work completed the opening inventory are separated and distinguished from the units newly introduced in the period.

Another principle under this method is that only the percentage of work yet to be completed on the units of opening are done in the current period

Fully worked = 11,400 -2000 = 9400

The fully worked represents units of inventory started this current period and completed in the same period.

It implies that out of 11,400 completed in the period 2,000 units represent the opening inventory carried forward and the balance is fully worked

Item working Equivalent units

Opening inventory (100-59)%× 2000 = 820

Fully worked 100% × 9400 = 9400

Closing inventory 30% × 900 = 270

Total equivalent units 10490

3 0

3 years ago

Model, Inc., produces model automobiles made from metal. It operates two production departments, Molding and Painting, and has t

Vesnalui [34]

Answer:

Total Service Costs Molding :350031.22 Painting: 205081. 46

Explanation:

Given Data

Model, Inc.

Service

Administration, Accounting, Maintenance

Costs $269,000, $402,000, $199,000,

Building area 12,000 63,000 69,300

Employees 44 14 22

Equipment value

(in thousands) $ 177.00 $ 236.00 $ 17.50

Production

Molding Painting

Costs

Direct Materials $242,500 $211,000

Direct Labor $327,500 $219,000

Overheads $105,000 $82,500

Building area 441,000 56,700

Employees 66 88

Equipment value

(in thousands) $ 118.00 $ 59.00

First we find the activity rates for each cost using total cost driver except self usage

1) Maintenance $ 199,000

Equipment Value= 177 + 236+ 118+ 59= 590 ( in thousands) ( all but maintenance itself )

Maintenance per equipment = 199,000/590,000= 0.3373 per equipment

2) Accounting,= $402,000,

Employees=44 + 22 + 66 + 88 = 220

Accounting per Employee= $402,000,/220= 1827.27 per Employee

3) Administration= $269,000

Building area =63,000 +69,300 +441,000+ 56,700= 630,000

Administration per square footage= 269,000/ 630,000= 0.4269= 0.43 per square

Then we multiply the rates to find the service costs allocated.

Production

Molding Painting

Costs

Direct Materials $242,500 $211,000

Direct Labor $327,500 $219,000

Overheads $105,000 $82,500

Service Cost Allocated

Building area 0.43*441,000 0.43* 56,700

= 189630 =24381

Employees 66* 1827.27 88 *1827.27

= 120599.82 = 160799.76

Equipment value

(in thousands) $ 118.00* 0.3373 $ 59.00 *0.3373

= 39801.4 = 19900.7

Total Service Costs 350031.22 205081. 46

Total Costs 1025031.22 717581. 46

6 0

3 years ago

The COI management plan aims to

nydimaria [60]

A Conflict of Interest (COI) management plan aims to prevent an employee from being subject to scrutiny due to issues of conflict of interest. If something is revealed on an employee’s conflict of interest disclosure that might be perceived as an actual or potential conflict, then a plan is drawn. This plan describes the nature of the conflict and outlines how the management will prevent a conflict of interest from escalating.

4 0

3 years ago

Read 2 more answers

Mountain View Company produces hiking boots. The direct labor standard for each pair of boots is 1 hour at a cost of $ 19.00 per

dem82 [27]

Answer:

Labour rate variance

= (Standard rate - Actual rate) x Actual hours worked

= ($19 - $18) x 3,000 hours

= $3,000(U)

Actual rate = Actual direct labour cost

Actual direct labour hours worked

Actual rate = $54,000

3,000 hours

Actual rate = $18 per direct labour hour

Explanation:

Labour rate variance is the difference between standard rate and actual rate multiplied by actual direct labour hours worked. Actual direct labour hours worked is calculated as actual direct labour cost divided by actual direct labour hours worked.

7 0

2 years ago