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alexdok [17]
3 years ago
15

Newhard Company assigns overhead cost to jobs on the basis of 114% of direct labor cost. The job cost sheet for Job 313 includes

$26,530 in direct materials cost and $10,500 in direct labor cost. A total of 1,400 units were produced in Job 313.
Required:
a. What is the total manufacturing cost assigned to Job 313?
b. What is the unit product cost for Job 313?
Business
1 answer:
UkoKoshka [18]3 years ago
8 0

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated overhead rate= 114% of direct labor cost.

Job 313:

Direct materials= $26,530

Direct labor=  10,500

Number of units= 1,400

<u>First, we need to allocate overhead to Job 313:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 10,500*1.14= $11,970

<u>Now, the total cost:</u>

Total cost= 26,530 + 10,500 + 11,970

Total cost= $49,000

<u>Finally, the unitary cost:</u>

Unitary cost= 49,000 / 1,400

Unitary cost= $35

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stiv31 [10]

The three financial ratios that constitute return on revenue are Cost of goods sold/Revenue, Research and Development expense/Revenue, and Selling, general, & administrative expense/Revenue.

What ism financial ratios?

Financial ratios are instrument used by companies to make comparison or to  measure the relationship  between  different financial statement information or data.

Hence, the three financial ratios that constitute return on revenue  are:

  • Cost of goods sold/Revenue
  • Research & Development expense/Revenue
  • Selling, general, & administrative expense/Revenue

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6 0
2 years ago
Ann Hopkins borrowed $60,000 for her child’s education. She must repay the loan at the end of 8 years in one payment with 512% i
mart [117]

The Maturity Value that Ann must pay is $89,461.

Assuming the rate of interest is compounded annually.

Given,

Principal value = $60,000 = P

Rate of interest = 5.12% = i

Number of years = 8 = T

Since maturity value = Amount

Now, using the formula for calculating the amount,

Amount = P × {(1+i)^T}

Now, substituting the given values in the above formula for amount we get,

Amount = $60,000 × {(1+0.0512)^8}

             = $60,000 × {(1.0512)^8}

             = $60,000 × 1.49101776418

             = $89,461.0658

             = $89,461 (Approximately)

Hence, The Maturity Value that Ann must pay is $89,461.

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7 0
2 years ago
Tamarisk Corporation purchased a truck by issuing an $118,400, 4-year, zero-interest-bearing note to Equinox Inc. The market rat
lianna [129]

Answer:

Dr. Truck                $80,869

CR. Note Payable $80,869

Explanation:

Note issued is a liability instrument. It is a promise of payment f principal amount and interest after a specific period of time. Zero interst interest bearing not does not offer any interest payment but it is issued at a discounted price . Present value of Note payable is the value that should be recognised as a cost of the truck.

Now calculate the present value of the Note.

PV of Zero coupon bond = FV / ( 1 + r )^n

Where

FV = FV maturity value of the note = $118,400

r = Interest rate = 10%

n=  numbers of period = 4 years

Placing Values in the formula

PV of Zero coupon bond = $118,400 / ( 1 + 10% )^4

PV of Zero coupon bond = $80,869

5 0
3 years ago
Question 2
Vesnalui [34]

Answer:

d. willingness to pay of all buyers in the market.

Explanation:

The demand curve shows the relationship between the price of a good or service and the quantity demanded at a particular time.

Therefore, a demand curve reflects:

a. highest price buyers are willing to pay for each quantity.

b.quantity that each buyer will ultimately purchase.

c. value each buyer in the market places on the good.

With this in mind, what the demand curve does not reflect, with these in mind is a willingness to pay of all buyers in the market.

8 0
2 years ago
Listed below are four interbank cash transfers, indicated by the letters a, b, c and d, of a client for late December 20X1, and
zimovet [89]

Answer:

A. Unaffected

B. Unaffected

C. Understated

D. Overstated

Explanation:

C. Understated.

Understated balance is one that is reported as having a lesser balance than it actually does. example of what could cause the situation in which cash is understated is that when check is written on the disbursing bank on the last day of December with a credit to cash, and an associated debit to some expense account so as to decrease reported profits and taxes be it (direct or indirect tjaxes) for the year.

Another example is when a utility bill that is suppose to be paid by the last day of the month but failed to record the expenses, under the accrual basis of accounting, the company should recognize the expenses now even though the bill is not yet due. Until the bill is recorded, the utilities payable is understated

d. Overstated.

An overstated balance is an account balance that is reported as having a greater balance than it actually does, example of such situation is that in which an employee has misappropriated funds during the year, and draw a check transferring funds to the account with the shortage so as to cover the shortage. As of December 31, the shortage is replaced, with no reduction as yet recorded in the account on which it is drawn.

In second example of understated, expense account is understated and because of this net income is overstated.

5 0
3 years ago
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