Answer
Hi,
The Federal work study fund
Explanation
This is a federally funded program for students that demonstrate financial need who are offered part-time jobs to help them earn money to pay for college or career school fees. The work offered is community service oriented and payments are paid hourly depending on the number of hours a student works.
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Answer:
= $1,244,600
Explanation:
Cost of asset = $2,800,000
Using MACRS depreciation schedule, calculate depreciation amount per year by multiplying each year's depreciation percentage by the cost of the asset;
Depreciation percentage (Yr1 ) = 33.33% or 0.3333 as a decimal
Depreciation amount (Yr1 ) = 0.3333 * $2,800,000 = $933,240
Depreciation percentage (Yr2 ) = 44.45% or 0.4445 as a decimal
Depreciation amount (Yr2 ) = 0.4445 * $2,800,000 = $1,244,600
Answer:
Explanation:
a. The answer to question (a) goes thus:
Direct materials will be:
= (1,100 × $2.60) × $4.80
= $13,728
Direct labor will be:
= (1,100 × 1/2) × $14.00
= $7,700
Overhead will be:
= $7,700 × 90%
= $7700 × 0.9
= $6,930
b. The standard cost of one unit of product will be calculated as follows:
Direct materials = ($2.60 × $4.80) = $12.48
Add: Direct labor (1/2 × $14.00) = $7.00
Add: Overhead = ($7.00 × 90%) = $6.30
Standard cost = $12.48 + $7.00 + $6.30 = $25.78
A is correct.
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