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nydimaria [60]
3 years ago
6

Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company

produced 42,000 units and sold 34,000 units at a price of $130 per unit. Manufacturing costs Direct materials per unit $ 54 Direct labor per unit $ 20 Variable overhead per unit $ 6 Fixed overhead for the year $ 462,000 Selling and administrative costs Variable selling and administrative cost per unit $ 9 Fixed selling and administrative cost per year $ 115,000 1a. Assume the company uses absorption costing. Determine its product cost per unit
Business
1 answer:
Monica [59]3 years ago
5 0

Answer:

$91

Explanation:

Given the following information,

Direct materials per unit = $54

Direct labor per unit = $20

Variable overhead per unit = $6

Fixed overhead for the year = $462,000

For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.

Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit

Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6

Unitary cost = $11 + $54 + $20 + $6

Unitary cost = $91

Therefore, the product cost per unit is $91

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uring December, Rainey Equipment made a $676,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.5
ExtremeBDS [4]

Answer:

Please refer to the below for the appropriate journal entry

Explanation:

Accounts receivable Dr $726,700

($676,000 + $50,700)

Sales revenue account Cr $676,000

Sale taxes payable account Cr $50,700

{(6% + 1.5%) × $676,000

7 0
3 years ago
Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
vesna_86 [32]

Answer:

Anne Mullens committed embezzlement.

Explanation:

Embezzlement is defined as misappropriation of funds by someone with whom funds have been entrusted.

It is a theft as the money does not belong to the perpetrator. The perpetrator is only entrusted with funds.

One of the conditions for embezzlement is an existence of a fiduciary (trust) relationship between parties.

In the given case, Anne Mullens pocketed $57 cash from recorded amount instead of recording 57$ customer's payment via check. Instead she included the customer's check in the money to be taken to bank.

This is embezzlement of funds by Anne.

7 0
3 years ago
Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the
Svetllana [295]

Complete question:

Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the problems they were encountering and what activities they were required to perform. Joe was performing a:

A. personality test

B. performance appraisal

C. BARS

D. job analysis

Answer:

Joe was performing a job analysis

Explanation:

Job analyzes are a set of protocols for defining the contents for the job and the features or criteria required for the execution of the tasks. Job analytics provide employers with knowledge that helps to recognize which personnel is ideally suited to particular work.

An example of a job analysis model might list tasks or activities of the job and determine each performance level. Within this way, the role of job analysis is critical. Many companies typically take the same generic approach without details on the task description. All workers are tested in a similar set of features or characteristics presuming that they are required for all work.

6 0
3 years ago
Which of the following is NOT a benefit of safety and health programs?
vladimir1956 [14]
<span>"A. Improved morale and productivity." is not a benefit of safety and health programs. The morale levels have absolutely nothing to do with whether or not someone cuts their arm off because they didn't follow safety procedures. </span><span /><span>
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7 0
3 years ago
Read 2 more answers
Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y6. Assume that assets increased by $130 a
sukhopar [10]

Answer:

The owner's equity be as of December 31, 20Y7 is $705

Explanation:

In this question, we apply the accounting equation which is given below

Total assets = Total liabilities + shareholder's equity

The question has said that the liabilities are decreased and the assets are increased.

So, the new asset is = total assets + increased amount

                                 = $1,000 + $130

                                 = $1,130

And, So, the new liability is = total liabilities - decreased amount

                                 = $450 - $25

                                 = $425

So, the shareholder equity would be equal to

= $1,130 - $425

= $705

Hence, the owner's equity be as of December 31, 20Y7 is $705

5 0
3 years ago
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