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Triss [41]
3 years ago
6

Recently, Job P951 was completed with the following characteristics: Number of units in the job 100 Total direct labor-hours 100

Direct materials $ 800 Direct labor cost $ 10,700 The unit product cost for Job P951 is closest to:
Business
1 answer:
ss7ja [257]3 years ago
4 0

Answer:

$2,851

Explanation:

The above is an incomplete question. However, a similar question is as seen below

Dehner corporation uses a job order costing system with a single plant wide predetermined overhead rate based on direct labor hours. The company based its predetermined overhead rate for the current year on the following data.

Total direct labor hours 70,000

Total manufacturing fixed overhead cost $273,000

Variable manufacturing overhead per direct labor hour $6.

Given that;

Number of units produced = 100

Direct labor hours = 100

Direct materials = $800

Direct labor cost = $10,700

The unit product cost for jobP951 is

Direct materials = $800

Direct labor cost= $10,700

Variable manufacturing overhead = $6 × 100 = $600

Total fixed manufacturing overhead = $273,000

Total cost = ($800 + $10,700 + $600 + $273,000) = $285,100

Unit product cost = $285,100 ÷ 100

Unit product cost = $2,851

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A major lottery advertises that it pays the winner $10 million. However, this prize money is paid at the rate of $ 500,000 each
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Answer:

We have to discount these payments to find the present value

500,000

500,000/1.1

500,000/1.1^2

500,000/1.1^3

We keep on doing this until we reach 500,000/1.1^19

After that we add all the payments and get the value. A less time consuming way of doing it is using a financial calculator

Pv=?

N=19

FV=0

PMT=500,000

=4,182,460.05 we add 500,000 to this because the first payment was not discounted=4,682,460.05= Present Value.

Explanation:

8 0
3 years ago
5. The Federal Reserve's organizationThere are members of the Federal Reserve Board of Governors.The Federal Reserve's role as a
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Answer:

U.S. banks that cannot borrow elsewhere.

Explanation:

  • In the United States, the Federal Reserve goes as a last resort lender to companies that do not have certain other acquisition practices, and the inability to obtain loans can significantly impact the economy.
  • so correct answer is U.S. banks that cannot borrow elsewhere.

3 0
3 years ago
On September 1, 2021, Southwest Airlines borrows $39.3 million, of which $6.6 million is due next year. Show how Southwest Airli
Pavlova-9 [17]

Answer:

Balance sheet

Current liability:

Current portion of long term debt = $6,600,000

Long term liability:

Notes payable = ($39,300,000 - $6,600,000)

                        = $32,700,000

Therefore,

Total liabilities = Current liabilities + Long term liabilities

                        = $6,600,000 + $32,700,000

                        = $39,300,000

4 0
3 years ago
Pure competition is important to economists because it is __________________ . Pure competition is important to economists becau
Ksju [112]

Answer:

a and b

Explanation:

A perfect or pure competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

Due to maximum competition in a pure competition, it is the lowest cost to the buyer.

Pure competition is efficient because, goods are priced at equilibrum

6 0
3 years ago
Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of
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3 0
3 years ago
Read 2 more answers
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