Answer:
The manufacturing overhead applied to work in process is:
D. $79,000
Explanation:
a) Data and Calculations:
Beginning work in process inventory 30,000
Direct materials used in production 50,000
Direct labor 60,000
Total manufacturing costs to account for 219,000
Manufacturing overhead applied to WIP 79,000 (219,000 - 140,000)
Ending work in process inventory 72,000
b) The manufacturing overhead applied to Work in Process is the difference between the total manufacturing costs to account for and the costs of beginning work in process, direct materials, and direct labor for the period. When the ending work in process is deducted from the total manufacturing costs, the resulting figure represents the cost of goods transferred to finished goods inventory.
The real wage paid to the worker is 4 hamburgers per hour.
<h3>What is Wage?</h3>
- A wage is the sum of money that an employer pays an employee for work that was completed within a certain time frame.
- The minimum wage, prevailing rate, annual bonuses, and remunerative rewards like prizes and tip payments are a few examples of wage payments.
- It is broken down into two parts: a direct cost made up mostly of gross pay plus various benefits; and an indirect cost made up primarily of traditional and legal employer contributions and other fees.
- Regular and supplemental pay can be divided into two groups.
- The number of hours worked multiplied by the employee's hourly wage can be used to determine gross wages for hourly workers.
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Answer:
Manufacturing Cost = 94,100
Explanation:
Given that,
Direct materials used = $ 20,500
Direct labor used = 26,000
Factory overhead = 47,600
Beginning work in process = 12,200
Ending work in process = 12,800
Manufacturing Cost = Direct Material + Direct Labor + Factory Overhead
Manufacturing Cost = $20,500 + 26,000 + 47,600
Manufacturing Cost = 94,100
Answer:
a.the reorder point = lead-time demand
Explanation:
The reorder point is when there needs to be a replenishment of depleted stock of inventory.
Lead time is the time between when an order is placed and when delivery of goods and services is made.
So when there is constant demand and fixed lead time, there is no need to keep excess inventory as demand has been anticipated and inventory for the demand is available.
Also the lead time demand from order to delivery is also fixed because demand has been provided for already.
Thus reorder point= lead time demand
Answer: In order to achieve a high rating on the economic freedom of the world index a government should allow labor, capital and goods to move freely without any restriction.
Explanation: In economic freedom, individuals have the opportunity to control their labor and property. The government is not telling them what they can and can not do, it is entirely up to them. Measuring economic freedom is based on the rule of law, government size, regulatory efficiency and open markets.
