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ad-work [718]
3 years ago
15

Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $ 51,600 Prope

rty taxes, factory $ 15,700 Administrative travel $ 104,400 Sales commissions $ 54,700 Indirect labor $ 42,300 Direct materials $ 168,800 Advertising $ 138,000 Depreciation of production equipment $ 41,200 Direct labor $ 90,900 Required: a. What is the total amount of product cost listed above
Business
1 answer:
horrorfan [7]3 years ago
7 0

Answer:

Product costs= $259,700

Explanation:

Giving the following information:

Direct materials $ 168,800

Direct labor $ 90,900

<u>The product costs are all expenses directly involved in the production. It generally involves the prime costs (direct material and direct labor).</u>

<u />

Product costs= direct material + direct labor

Product costs= 168,800 + 90,900

Product costs= $259,700

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3 years ago
Assume that you have recently purchased 100 shares in an investment company. Upon examining the balance sheet, you note that the
elena55 [62]

Answer: Net Asset Value = 1950

Explanation:

Assets = $225 million

Liabilities = $30 million

Shares outstanding = 10 million

We can compute the Net Asset Value, using the following formula:

<em>NAV\ per\ share= \frac{Assets - Liabilities }{Outstanding\ Shares}</em>

<em>NAV\ per\ share = \frac{225 - 30}{10}</em>

<em>NAV per share = 19.5</em>

<em>Therefore, the NAV of 100 share is 1950</em>

6 0
3 years ago
Assuming that data mining techniques are to be used in the following cases, identify whether the task required is supervised or
Gnoma [55]

Answer:

Explanation:

A Supervised learning allows you to collect data or produce a data output from the previous experience while an unsupervised learning  you do not need to supervise the model.

A.  Deciding whether to issue a loan to an applicant based on demographic and financial data (with reference to a database of similar data on prior customers). - Supervised learning

B.  In an online bookstore, making recommendations to customers concerning additional items to buy based on the buying patterns in prior transactions. - Unsupervised learning

c. Identifying a network data packet as dangerous (virus, hacker attack) based on comparison to other packets whose threat status is known - Supervised learning  

d. Identifying segments of similar customers. - Unsupervised learning

e. Predicting whether a company will go bankrupt based on comparing its financial data to those of similar bankrupt and nonbankrupt firms. - Supervised learning

f. Estimating the repair time required for an aircraft based on a trouble ticket. - supervised learning

g. Automated sorting of mail by zip code scanning. - Supervised learning

H. Printing of custom discount coupons at the conclusion of a grocery store checkout based on what you just bought and what others have bought previously - Unsupervised learning

5 0
3 years ago
Madole Corporation has two production departments,Forming and Customizing.The company uses a job-order costing system and comput
Ludmilka [50]

Complete Question:

Madole Corporation has two production departments,Forming and Customizing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Forming Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year,the company had made the following estimates:

Machining Customizing Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 20,000 2,000 $90,000 $88,000 18,000 1,000 $ 2.00 $ 4.00 During the current month the company started and finished Job K973. The following data were recorded for this job: Job K973 Machine-hours Direct labor-hours Machining Customizing 70 40 40 60.

a. Calculate the estimated total manufacturing overhead for the Forming Department.

b. Calculate the predetermined overhead rate for the Customizing Department.

c. Calculate the total overhead applied to Job K973 in both departments.

Answer:

Madole Corporation

a. Calculation of the Estimated total manufacturing overhead:

                                                                    Machining  Customizing Total

Total fixed manufacturing overhead cost   $90,000    $88,000  $178,000

Variable manufacturing overhead cost         36,000      80,000     116,000

Total overhead cost                                    $126,000  $168,000 $294,000

Estimated total manufacturing overhead cost for the Forming Department = $126,000

b. Calculation of the predetermined overate rate for the Customizing Department = Overhead cost/Direct labor hours

= $168,000/2,000

= $84 per direct labor hour

For Forming department = $126,000/18,000 = $7 per machine hour

c. Total overhead applied to Job K973:

Machining = 70 * $7 =           $490

Customizing = 60 * $84 = $5,040

Total overhead applied = $5,530

Explanation:

a) Data and Calculations:

                                                                            Machining     Customizing

Machine-hours                                                       18,000        20,000

Direct labor-hours                                                   1,000           2,000

Total fixed manufacturing overhead cost           $90,000     $88,000

Variable manufacturing overhead per machine-hour $2.00

Variable manufacturing overhead per direct labor-hour        $ 4.00

Data for Job K973

                                           Machining     Customizing

Machine-hours                     70                     40

Direct labor-hours               40                     60

4 0
3 years ago
Pedrotti Corporation would like to use target costing for a new product it is considering introducing. At a selling price of $40
LiRa [457]

Answer:

$38.40

Explanation:

Target Cost = Selling Price per Unit - Profit Margin per Unit

Here, Selling Price per Unit = $40

Profit Margin = 16% of the Investment in Product

Investment = $ 300,000

Profit Margin = 16% × 300,000

                      = $48,000

Number of Units Sales = 30,000 Units

Profit Margin per Unit:

= Profit Margin ÷ Number of Units Sales

= $48,000 ÷ 30,000

= $1.6

Therefore,

Target Cost per Unit:

= Selling Price per Unit - Profit Margin per Unit    

= $40.00 - $ 1.60

= $38.40

6 0
2 years ago
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