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dezoksy [38]
3 years ago
7

Brief Exercise 24-01 Wildhorse Company uses both standards and budgets. For the year, estimated production of Product X is 565,0

00 units. Total estimated cost for materials and labor are $1,243,000 and $1,638,500. Compute the estimates for (a) a standard cost and (b) a budgeted cost.
Business
1 answer:
laiz [17]3 years ago
6 0

Answer and Explanation:

The computation is shown below:

a. The standard cost is

Fo material

= $1,243,000 ÷ 565,000 units

= $2.20 per unit

And, for labor it is

= $1,638,500 ÷ 565,000 units

= $2.90 per unit

b. The budgeted cost would be remian the same as the total cost i.e. $1,243,000 and $1,638,500

Hence, the same would be considered and relevant

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Q: What was the central point that Bastiat was trying to make in his imaginary petition of the candle makers? A: <span>The "Candle Maker's Petition" is a satire of protectionist </span>tariffs<span> written the by great French economist, </span>Frederic Bastiat.
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3 years ago
List and describe the four basic rights in the private enterprise system
Elodia [21]

Private property

competition

profits

and freedom of choice


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3 years ago
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The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests
nikdorinn [45]

Hello,

Question - The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests.

Answer - "evidence that the defense requests"

Why - "Bagley claimed that the government had violated his due process rights by withholding evidence that the defense could have utilized to impeach the witnesses. The district court held that the evidence was not material because the outcome would have been the same. "


6 0
4 years ago
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At December 31, 2011 the accounting records of Gordon, Inc. contain the following items: If the Notes Payable is $10,000, the De
Vadim26 [7]

The question is incomplete. The complete question is as follows,

At December 31, 2011 the accounting records of Gordon, Inc. contain the following items:

Accounts Payable 2500

Land 30000

Building 31250

Notes Payable ?

Retained earnings 125000

Accounts Receivable 18750

Cash ?

Equipment 40000

Capital Stock 12500

If the Notes Payable is $10,000, the December 31, 2011 cash balance is:

Answer:

Cash = $30000

Explanation:

The accounting equation states that the sum of total assets is always equal to the sum of total liabilities plus total equity. We can state the equation as follows,

Total Assets = Total Liabilities + Total Equity

So,

(30000 + 31250 + 18750 + 40000 + Cash) = (2500 + 10000) + (125000 + 12500)

120000 + Cash = 12500 + 137500

Cash = 150000 - 120000

Cash = $30000

6 0
3 years ago
quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000.
Nostrana [21]

quizlet calaf’s drillers erects and places into service an off-shore oil platform on january 1, 2021, at a cost of $10,000,000. calaf is legally required to dismantle and remove the platform at the end of its useful life in 10 years. calaf estimates it will cost $1,000,000 to dismantle and remove the platform at the end of its useful life in 10 years. (the fair value at january 1, 2021, of the dismantle and removal costs is $450,000.) prepare the entry to record the asset retirement obligation.

Oil Platform 450,000

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What is  asset retirement obligation?

An asset retirement obligation is a contractual requirement for the retirement of a tangible long-lived asset, the timing of which may depend on the occurrence of a future event outside the control of the entity bearing the obligation.

Therefore,

Oil Platform 450,000

Asset Retirement Obligation 450,000

To learn more about asset retirement obligation from the given link:

brainly.com/question/14298631

4 0
1 year ago
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