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gizmo_the_mogwai [7]
2 years ago
9

Bassett Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and com

putes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:
Machining Customizing
Machine-hours 17,000 15,000
Direct labor-hours 3,000 6,000
Total fixed manufacturing overhead cost $102,000 $61,200
Variable manufacturing overhead per machine-hour $1.70
Variable manufacturing overhead per direct labor-hour $4.10

During the current month the company started and finished Job T268. The following data were recorded for this job:

Job T268: Machining Customizing
Machine-hours 80 30
Direct labor-hours 30 50
Direct materials $720 $380
Direct labor cost $900 $1,500
If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: (Round your intermediate calculations to 2 decimal places.)

a. $6,763.40
b. $7,440.00
c. $4,831.00
d. $1,932.40
Business
1 answer:
Ludmilka [50]2 years ago
8 0

Answer:

a. $6,763.40

Explanation:

The computation of the selling price is shown below:

But before that the predetermined overhead rate is

For machining

= ($102000 ÷ 17,000) + $1.70

= $7.7 per machine hour

For fabrication

= ($61200 ÷ 6000) + $4.10

= $14.30 per labour hour

Now the selling price is

Direct material ($720 + $380) $1,100

Direct labor ($900 + $1,500) $2,400

Machining department overhead (7.7 × 80) $616

Fabrication department overhead (50 × 14.3) $715

Total manufacturing cost $4,831

Markup 40% $1,932.40

Selling price $6,763.40

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Answer:

c) 48,000

Explanation:

<em>Equivalent Units</em>

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

<em>Equivalent Units = Degree of Completion × Units of products</em>

<em />

<em>Item                                        units          workings                 E.U</em>

Finished products          45,000        100% × 45,000 =     45,000

Closing WIP                      5000             3/5 ×  5000    =       3,000

                          Total equivalent unit                               48,000

Equivalent unit for the conversion cost= 45000 +3000= 48,000

6 0
3 years ago
In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ___________ level
Zielflug [23.3K]

Answer:

1.  Actual Price

2.  Misperceptions theory.

Explanation:

In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ACTUAL PRICE level in the economy deviates from the expected price level. Several theories explain how this might happen.

For example, the MISPERCEPTIONS THEORY asserts that output prices adjust more quickly to changes in the price level than wages do, in part because of long-term wage contracts. Suppose a firm signs a contract agreeing to pay its workers $15 per hour for the next year, based on an expected price level of 100 Year.

The above explanations is the reason why the aggregate supply curve slopes upward in the short run

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Children with asthma can have severe asthma attacks if they catch common
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Answer:

All of the above can prevent the spread of infections

Explanation:

Germs are commonly known to be everywhere and can be spread in various ways, such as through the air in sneezes, coughs, or even breaths.

Hence, in this situation, in order to prevent the spread of germs, it is always advisable to carry out the following:

1. Make sure children take antibiotics every time they get sick

2. Wash your hands and children's hands often with soap and water

3. Cover your face with a re-usable handkerchief when you cough or sneeze

Therefore, the correct answer is "All of the above can prevent the spread of infections."

5 0
2 years ago
A new innovation is _________when it fulfills a similar market need, but does so by building on an entirely new knowledge base.
mamaluj [8]

Answer: technology

Explanation:

I just answered it

4 0
2 years ago
Machine A has an initial cost of $6,000 with total annual maintenance costs of $750. Machine B has an initial cost of $8,500 wit
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When the initial cost of Machine A is $6,000 and that of Machine B is $8,500, then both the machines will have the same current value at the end of 10 years.

<h3>What is the meaning of current value?</h3>

The present market value of an asset that prevails in the market is known as the current value of an asset. Using the given conditions, the current value will be the same as computed under,

\rm Cost\ of\ Machine\ A\ + Maintenance\ Cost(Interest\ Rate)= Cost\ of\ Machine\ B\ +Maintenance\ Cost(Interest\ Rate)

Putting the given value and solving further we get,

\rm Current\ Value\ x\ 7.25\ x\ 10\% = \dfrac{2500}{345}\\\\\rm Current Value= 10

Hence, the significance of current value is aforementioned.

Learn more about current value here:

brainly.com/question/8286272

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5 0
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