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MatroZZZ [7]
2 years ago
5

Juanita Corporation uses a job-order costing system and applies overhead on the basis of direct labor cost. At the end of Octobe

r, Juanita had one job still in process. The job cost sheet for this job contained the following information:
Direct materials $480
Direct labor $150
Manufacturing overhead applied $600

An additional 4 hours of labor was incurred in November to complete this job. Considering the additional work in November, how much should Juanita have transferred to finished goods inventory in November when this job was completed?

a. $1,330
b. $1,730
c. $1,000
d. $1,630
e. $1,230
Business
1 answer:
Aleksandr [31]2 years ago
4 0

Answer:

Juanita Corporation

Considering the additional work in November, Juanita should have transferred $1,980 to finished goods inventory in November when this job was completed

Explanation:

a) Data and Calculations:

Direct materials $480

Direct labor      $150

Manufacturing overhead applied $600

Initial labor hours = $600/$150 = 4 hours

Additional labor hours = 4 hours

Total labor hours = 8 hours

Direct labor rate = $150/4 = $37.50

New Total costs:

Direct materials $480

Direct labor         300 ($37.50 * 8)

Overhead         1,200 ($150 * 8)

Total cost =    $1,980

b) Note that there is additional direct labor cost of $150 for 4 hours and additional manufacturing overhead of $600 for the additional 4 direct labor hours.  When these are factored in, the total cost that should be transferred to finished goods inventory in November rises to $1,980.

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Answer:

A per se violation

Explanation:

A per se violation is one that violates antitrust laws for example agreements made that violates the Sherman antitrust act. It has adverse effects on the competitiveness of a market.

Sherman antitrust act of 1980 is aimed at regulating competitiveness in a market. It prohibits anticompetitive agreements, and unilateral activities that tries to monopolize a market.

In this scenario Omega corporation and precision products, inc., are the principal suppliers of their product in their market. They make an agreement that one will focus on retailers and the other on wholesalers.

This is an attempt to monopolize the market by the two principal suppliers, and is a violation of the Sherman antitrust act.

6 0
3 years ago
Sky Communications (SKY) usually sells a cell phone for $448 plus 12 months of cellular service for $672. SKY has a special, tim
jeka94

Explanation:

The Journal Entry from July 1 and July 31 is shown below:-

1. Cash Dr,                                             $560

            To Deferred revenue                                  $560

(Being cash is received)

2. Deferred revenue                             $336

            To Sales revenue                                         $336

(Being 12 months sales service is recorded)

3. Cost of goods sold                            $280

            To Inventory                                                 $280

(Being cost of goods sold is recorded)

4. Deferred revenue ($336 ÷ 12)            $28

            To Service revenue                                      $28

(Being Deferred service revenue is recorded)

Working Note:-

Cellular service revenue = offer price ÷ total cost of phone and service × cellular service

= (($560 ÷ ($448 + $672)) × $672

= $336

3 0
2 years ago
At December 31, year 3 , Bren Co. had the following deferred income tax items: • A deferred income tax liability of $15,000 rela
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Answer:

(B) A noncurrent liability of $4,000

Explanation:

The non-current liability in respect of deferred tax shall be recognised in the accounts of Bren Co. as at December 31 as follows:

Deferred income tax liability related to non-current assets= $15,000

Deferred income tax asset related to non-current liability = ($3,000)

Deferred income tax asset related to current liability         = ($8,000)

Deferred income tax liability to be recorded at year end   = $4,000

So based on the above discussion the answer is (B) A noncurrent liability of $4,000

8 0
3 years ago
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3 years ago
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Answer:

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Hence, Julio's company is an example of a learning organization.

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<em>In a nutshell, this ultimately implies that it's very important and necessary that organizations sponsor brainstorming sessions and reward employees awesomely, when an out-of-the box idea leads to organizational improvements.</em>

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