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Strike441 [17]
3 years ago
12

Session Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho

urs. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 70,000 Total fixed manufacturing overhead cost $511,000 Variable manufacturing overhead per direct labor-hour $ 2.10 Recently, Job K913 was completed with the following characteristics: Total direct labor-hours 150 Direct materials $ 705 Direct labor cost $4,650 The total job cost for Job K913 is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice
Business
1 answer:
vitfil [10]3 years ago
8 0

Answer:

Total cost= $6,765

Explanation:

Giving the following information:

Total direct labor-hours 70,000

Total fixed manufacturing overhead cost $511,000

Variable manufacturing overhead per direct labor-hour $ 2.10

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (511,000/70,000) + 2.1

Predetermined manufacturing overhead rate= $9.4 per direct labor hour

<u>Job K913:</u>

Total direct labor-hours 150

Direct materials $ 705

Direct labor cost $4,650

Total cost= 705 + 4,650 + (150*9.4)

Total cost= $6,765

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A new car has an msrp of $26,550, and it comes with a sport package priced at $1500, a navigation package priced at $400, and a
Hitman42 [59]
$29,150 is the correct answer 
$26,550 + $1500 + $400 + $700 = $29,150 
4 0
4 years ago
Read 2 more answers
Why is operations management relevant to managers in other organization functions? Base your discussion on your experience of op
Mars2501 [29]

Answer:

Operations management is relevant to improve the overall productivity in an organization as it involves working with all departments in the organization.

Explanation:

Operations management involves <u>planning, organizing and controlling the production processes by which raw materials are converted into valuable goods and services to be distributed to customers.</u>

An operations manager works with managers in other organizational functions to <u>improve the overall productivity in the organization.</u>

He or she maintains contact with; the financial manager to agree on the budget needed for production, the purchasing manager to determine what raw materials will be purchased for production, the personnel manager to sort out the human resources required for the production process, and the marketing manager to ensure that customer needs are taken into consideration when producing goods and services.

4 0
3 years ago
The primary objective of financial reporting is to provide information:___________.
zimovet [89]

Answer:

b. Useful to capital providers.

Explanation:

Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

The objective of financial reporting include all of the following to provide information that:

1. Is useful to those making investment decisions. This information would help creditors to determine whether they should lend to a client or not; or assist investors in deciding whether they should invest in a business or not.

2. Is useful to those lending out money to business entities. When investors and creditors are well furnished with financial information about an organization, they would be able to assess the amounts of cash, timing, and uncertainty of cash flows from dividends or interest.

3. Is useful to creditors in making decisions about providing resources to business entities.

<em>Hence, the primary objective of financial reporting is to provide information useful to capital providers.</em>

Additionally, financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining financial accounting and reporting standards for general guidance of individuals or capital providers such as investors, issuers and auditors.

6 0
4 years ago
Members of city and county staff are invited to participate in an exercise at the city hall conference room by the local emergen
Marizza181 [45]

Answer:

Tabletop exercise

Explanation:

Tabletop exercise -

It refers to the practice of any emergency situation , in order aware and inform people about any uninvited situation , is referred to as tabletop exercise .

The method is used for preparing people for any natural calamity like fire, earthquake , flood , cyclone etc.

It helps the people to save their lives during any unforeseen situation , so that people tries not to panic or stressed out .

This practice can be organised by the government or the NGO's .

Hence , from the given scenario of the question ,

The correct term is Tabletop exercise .

4 0
3 years ago
A) Give an example of a deferred expense.
mamaluj [8]

Answer:

Payment of a Term Insurance Policy

Explanation:

A term insurance policy has a total price that is usually paid through the period determine for its coverage with monthly payments called premiums. In this case, the expense is deferred for an specific period of time. The logic behind this payments is that you received the service of product without paying the total price of it beforehand.

3 0
3 years ago
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