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solniwko [45]
2 years ago
7

Presented below are incomplete manufacturing cost data.

Business
1 answer:
rjkz [21]2 years ago
8 0

Answer and Explanation:

The computation of the missing amount is as follows:

As we know that

The total manufacturing cost = Direct Materials Used  + Direct Labor Used + Factory Overhead

So,

(1)

= $42,700 + $64,200 + $52500

= $159,400

(2)

= $298,000 - $78,100 - $144,000

= $75,900

(3)

= $314,000 - $57,400 - $113,000

= $143,600

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A product whose EOQ is 40 units experiences a decrease in ordering cost from $90 per order to $10 per order. The revised EOQ is:
ruslelena [56]

Answer: three times as large

Explanation:

Economic order quantity will be calculated as follows:

EOQ = ✓(2DS/H)

D = Demand in units

Here S = Ordering cost = $10

H = Holding cost

Since S = $10

Therefore, EOQ will be:

= ✓(2DS/H)

= ✓(2 × 10 × D/ H)

= ✓(20D/H)

Since we're to increase the order cost from $10 per order to $90 per order, then EOQ will be:

Since S = $90

Therefore, EOQ will be:

= ✓(2DS/H)

= ✓(2 × 90 × D/ H)

= ✓(180D/H)

3✓20DH

The revised EOQ will then be 3 times as large.

4 0
3 years ago
The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past
Salsk061 [2.6K]

Answer:

Journal entry

Explanation:

Before passing the journal entry we need to do the following calculations

Uncollected amount is

= $4,400 × 50%

= $2,200

Uncollected amount is

= ($4,400 - $2,200) × 0.03

= $2,200 × 0.03

= $66

So, the total amount is

= $2,200 + $66

= $2,266

Now the journal entry is

Bad debt expense $2,266

        To Allowance for uncollectible accounts $2,266

(Being the uncollectible account is recorded)

4 0
3 years ago
Which of the following is/are tactics used by interest groups to influence public opinion? Publicizing voting records of members
Shalnov [3]

Answer:

Publicizing Voting Records and Publishing Research.

Explanation:

As they seek to influence the public opinion and not the government in this question, lobbying would be out as it is a tactic to influence congress members directly and not the public. Publishing voting records could be a valid tactic if said vote records were in favor of the group interest. Funding and publishing research is a valid tactic as well because it serves as a platform to get facts and data to the public, influencing its decision (in the scenario a research findings benefits the interest groups vision, obviously).  

3 0
3 years ago
Kevin lives in New York City and runs a business that sells pianos. In an average year, he receives $735,000 from selling pianos
Tom [10]

Answer:

Implicit Cost and Explicit Cost

Identification of Van's cost as either an implicit cost or an explicit cost of selling pianos:

Implicit costs:

The rental income Van could receive if he chose to  rent out his showroom

The salary Van could earn if he worked as an accountant

Explicit costs:

The wages and utility bills that Van pays

The wholesale cost for the pianos that Van pays  the manufacturer

2. Determining Van's accounting and economic profit of his piano business.

Profit

(Dollars)

                         Accounting Profit    Economic Profit

Sales revenue      $735,000             $735,000

Cost of pianos       (435,000)             (435,000)

Wages and Utility  (255,000)             (255,000)

Opportunity costs:

Rent                                                        (10,000)

Salary as an accountant                       (24,000)

Profit                      $45,000                $11,000

3. Alternatively, the economic profit he would earn as an accountant would be_$34,000___.

4. If Van's goal is to maximize his economic profit, he stay in the piano business.

False

5. Van is not earning a normal profit because his profit is negative.

B. False

Explanation:

Van's economic profit or loss is the difference between the revenue received from the sale of the pianos and the costs of all inputs used, as well as opportunity costs of forgone rent revenue and salary income as an accountant.  To compute economic profit, opportunity costs and explicit costs are deducted from revenues earned.  But to compute accounting profit, only the explicit costs are deducted from revenues earned.

6 0
3 years ago
Which of the following is a reason for advertisers to divert their funds from traditional media? a. Increased funds available fo
Allisa [31]

Consumers’ desire to control their information environment is a reason for advertisers to divert their funds from traditional media.

C) Consumer's desire to control their information environment.

<u>Explanation:</u>

Earlier the information sources were limited and the audience didn't have many options to choose from. The elites and literates would opt for print media and the common audience would opt for radio and other medium of information.

The advertisement agencies would also target the audience based on the information source. Bit with the growing technological advancement, the consumer can now choose their own preferable source of information and hence the advertisers diverted their funds from the traditional media.

7 0
3 years ago
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