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lana66690 [7]
2 years ago
6

Newhard Company assigns overhead cost to jobs on the basis of 115% of direct labor cost. The job cost sheet for Job 313 includes

$29,710 in direct materials cost and $10,600 in direct labor cost. A total of 1,750 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?
Business
1 answer:
Nina [5.8K]2 years ago
8 0

Answer:a.Total manufacturing costs for Job 313 =$52,500

Unit Product Cost for Job 313=$30

Explanation:

Total manufacturing costs=Direct materials+Direct labor costs+Overhead costs

But Overhead cost =115% of direct labor cost

= 115% x $10,600

=$12,190

Total manufacturing costs =$29,710 + $10,600+$12,190

=$52,500

Unit Product Cost=Total Manufacturing costs/ Total Number of Units Produced =$52,500 /1,750 units

=$30

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Sheridan Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 485 units that
Kipish [7]

Answer:

Value of closing inventory = $25771.04

Explanation:

To calculate the value of ending inventory under a periodic average cost method, we will calculate the average price per unit of inventory at the end of the month. To calculate the average price per unit, we simply divide the total cost of the inventory by the total number of units for the month.

Average cost per unit = Total cost of all units for the month / Total units available for the month

<u />

<u>Total cost of all units:</u>

Beginning inventory (485 * 66)            32010

Purchase 1     (725 * 69)                        50025

Purchase 2     (364 * 71)                    <u>    25844</u>

Total                                                       107879

<u>Total Units</u>

Beginning Inventory     485

Purchase 1                     725

Purchase 2                    <u>364</u>

Total                              1574

Average cost per unit =   107879 / 1574

Average cost per unit = $68.54

Units of closing inventory = 1574 - 1198     =   376 units

Value of closing inventory =  376 * 68.54

Value of closing inventory = $25771.04

6 0
3 years ago
In Appellia, it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources t
EleoNora [17]

Answer:

b. diminishing returns to specialization.

Explanation:

Diminishing returns is also called diminishing productivity. It states that as additional unit of input is used in production it will get to a stage where more of input will be required to maintain output levels.

If the same level of input is used it will result in reduction in output over time.

This is exemplified in this secanrio where it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons.

It takes more input to increase output by 1 ton

7 0
2 years ago
Describe a product, and then give an example of a time when the demand for this product might be high and the demand for this pr
d1i1m1o1n [39]
An inner tube for a swimming pool would be in high demand during the summer months, and in incredibly low demand in the winter months. 
7 0
3 years ago
Craft, Inc. normally produces between 120,000 and 150,000 units each year. Producing more than 150,000 units alters the company'
SVETLANKA909090 [29]

Answer:

The production range between 1120,000 and 150,000 is called Relevant range

correct option is c) relevant range

Explanation:

given data

normally produces = 120,000 to 150,000 units

to find out

The production range between 1120,000 and 150,000 is called

solution

The production range between 1120,000 and 150,000 is called Relevant range because there are 2 point

  • if Craft, Inc. need to reduce fixed expenses then production volume is reduce less than 120000 unit
  • if Craft, Inc. need to increase fixed expenses than production volume is increases more than 150000 unit

and if expected fixed expenses will not change than the production volume is 120000 units to 150000 units

so that production range between 1120,000 and 150,000 is called Relevant range

correct option is c) relevant range

7 0
3 years ago
"The Free-Float Company, a company in the 36% tax bracket, has riskless debt in its capital structure which makes up 40% of the
Strike441 [17]

Answer:

Equity Beta = 1.1413

Explanation:

The formula to find the asset beta is

Asset Beta = Equity Beta/(1+(1-tax rate)(Debt/Equity))

We will put the values given in the question in this formula

Asset Beta = 0.8

Tax rate = 0.36

Debt = 0.40

Equity = 0.60

0.8=Equity Beta/(1+(0.64)(0.40/0.60)

0.8=Equity Beta/1+0.4266

0.8=Equity Beta/1.4266

1.4266*0.8= Equity Beta

Equity Beta = 1.1413

6 0
3 years ago
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