1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
monitta
3 years ago
12

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $199,200 of raw materials on credit

; issued materials to production of $196,000 of which $30,300 were indirect. Minstrel incurred a factory payroll of $150,600, of which $40,300 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $15,600 and $27,200 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.
Business
1 answer:
Aleksandr [31]3 years ago
7 0

Answer:

$429,850

Explanation:

The computation of the cost of jobs transferred to Finished Goods Inventory is shown below:

= Beginning Work in Process Inventory + direct material + direct factory payroll + overhead cost - Ending Work in Process Inventory

Here,  

Direct material = Total material - indirect material  

                         = $196,000 - $30,300

                       = $165,700

Direct factory payroll = Total factory payroll - indirect labor

= $150,600 - $40,300

= $110,300

And, Overhead cost = 150% of direct labor cost

= 150% × $110,300

= $165,450

Now the cost of job transferred would be

= $15,600 + $165,700 + $110,300 + $165,450 - $27,200

= $429,850

You might be interested in
Sarah’s Organic Soap Company makes organic liquid soap. One of the raw materials for her soaps is organic palm oil. She needs 90
Nuetrik [128]

Answer:

$1905

Explanation:

Here we will have to calculate Economic Order Quantity to lower the ordering ordering and holding cost as much as we can. So here we will use the following formula to calculate the best number of units that we should order, which is as under:

Economic Order Quantity = SquareRoot (2 * Annual Demand * ordering cost per order / Holding cost per unit per year)

Here

Annual Demand = 900kg of palm oil per day  * 52 weeks *  5 day a week / 7

Annual Demand = 900 * 52 * 5 / 7 = 33,429

And

Ordering cost per order = $57 per order

Annual holding cost per unit per year is 20% of $5.25 per kg which is $1.05.

So by putting values, we have:

Economic Order Quantity = Square Root (2 * 33,429 * 57 / 1.05)

Economic Order Quantity = 1905 kgs

4 0
3 years ago
“If the minimum wage rate is higher than the equilibrium wage rate, fewer people will be hired because the cost of labor is too
icang [17]

If the minimum wage rate is higher than the equilibrium wage rate, fewer people will be hired because the cost of labor is too high. I agree.

Explanation:

  • If the minimum wage is set above the equilibrium wage rate, it has powerful effects. The Labor Market and the Minimum Wage The equilibrium wage rate is $4 an hour. The minimum wage rate is set at $5 an hour. So the equilibrium wage rate is in the illegal region
  • If the minimum wage is set below the equilibrium wage rate, it has no effect. The market works as if there were no minimum wage. If the minimum wage is set above the equilibrium wage rate, it has powerful effects.
  • The equilibrium market wage rate is at the intersection of the supply and demand for labour. Employees are hired up to the point where the extra cost of hiring an employee is equal to the extra sales revenue from selling their output.
  • When the labor market is in equilibrium, the economy is at full employment.
5 0
3 years ago
Economics is the study of how individuals and societies make choices under the condition of:.
Lubov Fominskaja [6]

Economics is the study of how individuals and societies make choices under the condition of scarcity.

<h3>What is economics?</h3>

The study of how individuals use resources and respond to incentives  by using it  in  decision-making is known as Economics. It is a vast study that helps us comprehend past trends, analyze current headlines, and forecast future events.

It signifies that the price of the product or service exceeds the supply of that product or service. As a result, scarcity might limit the options available to customers, who make up the economy in the end.

       

Individuals, organizations, and governments all use economics to understand their behaviors and decisions. It gives people a way to comprehend how people interact in a market-driven society and to analyze how government policies affect them.

Learn more about Economics, here:

brainly.com/question/14355320

#SPJ1

7 0
2 years ago
Read 2 more answers
____ consumption occurs when consumers "set apart" objects and events from normal activities and treat them with respect. ____ c
solong [7]

Answer:

  • Sacred consumption
  • Profane consumption

Explanation:

This differentiation is based on special religious events (e.g. religious holidays) that considered some goods as sacred, while profane had to do with everyday life.

Some modern marketing strategies try to build sacred brands. For example, Google has become our God of all knowledge and no one even dares to challenge that almost religious belief. Anyone can make their own coffee or buy coffee at any coffee shop, but Starbucks is different, it has built a sense of emotional connection with the public. It's not any coffee that we need or want.  

6 0
3 years ago
Time management and world view college success
Stolb23 [73]

Explanation:

As most students discover, college is not the same as high school. For many students, college is the first time they are “on their own” in an environment filled with opportunity. And while this can be exciting, you may find that social opportunities conflict with academic expectations. For example, a free day before an exam, if not wisely spent, can spell trouble for doing well on the exam. It is easy to fall behind when there are so many choices and freedoms.

One of the main goals of a college education is learning how to learn. In this chapter we zoom in on learning how to skillfully manage your time. To be successful in college, it’s imperative to be able to effectively manage your time.

In the following Alleyoop Advice video, Alleyoop (Angel Aquino) discusses what many students discover about college: there is a lot of free time—and just as many challenges to balance free time with study time

7 0
3 years ago
Read 2 more answers
Other questions:
  • The job of the ____ is to match the wishes of the id with their counterparts in the physical environment.
    14·1 answer
  • Which infant formula is typically the least expensive?
    11·1 answer
  • __________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced,
    11·1 answer
  • Security frameworks establish behavior expectations and define policy. Policies cannot address every scenario employees will fac
    14·1 answer
  • On January 1, Year 1, Bell Corp. issued $340,000 of 10-year, 8 percent bonds at their face amount. Interest is payable on Decemb
    11·1 answer
  • A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 19,
    15·1 answer
  • What’s a commercial bank most likely going to do with your money when you deposit it?
    14·1 answer
  • With a tax of $4,000 on $20,000 of
    14·1 answer
  • What is NOT a reason a new product might fail?
    13·1 answer
  • In one day madison laundry washed 4,000 pounds of laundry with 5 workers who each worked 8 hours. what was its productivity?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!