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Ksivusya [100]
3 years ago
11

Sheffield Corp. is planning to sell 1070 boxes of ceramic tile, with production estimated at 800 boxes during May. Each box of t

ile requires 44 pounds of clay mix and a 0.50 hour of direct labor. Clay mix costs $0.40 per pound and employees of the company are paid $17 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Sheffield has 3300 pounds of clay mix in beginning inventory and wants to have 5400 pounds in ending inventory. What is the total amount to be budgeted for direct labor for the month
Business
1 answer:
Zarrin [17]3 years ago
5 0

Answer:

Results are below.

Explanation:

Giving the following information:

Production= 800 boxes

Each box of tile requires 0.50 hours of direct labor.

Employees of the company are paid $17 per hour.

<u>First, we need to determine the number of hours required:</u>

Number of hours= 800*0.5= 400 hours

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

Direct labor cost= 400*17= $6,800

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Rent collected in advance is: Multiple Choice A shareholders' equity account in the balance sheet. A temporary account, not in t
gulaghasi [49]

Answer:

A liability account in the balance sheet.

Explanation:

When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;

Debit Cash account

Credit Unearned/Deferred rental revenue

The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.

As such, the collection of rent in advance is A liability account in the balance sheet.

3 0
3 years ago
Petrenko Corporation has outstanding 2,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bond
cricket20 [7]

Explanation:

The Journal entry is given below :-

Bonds payable                                      $2,000,000

      To common stock                          $1,000,000

      To Discount on common stock     $30,000

      To Paid in capital                            $970,000

The calculation of bonds payable, common stock is below:-

For bonds payable            

= 2,000 × $1,000

= $2,000,000

For common stock

= 2,000 × 50 × $10

= $1,000,000

For paid in capital

= $2,000,000 - ($1,000,000 - $30,000)

= $970,000

4 0
3 years ago
Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in rea
vladimir1956 [14]

Answer:

Consider the following explanations

Explanation:

Q1.) the short run fluctuations in the real GDp is known as the business cycles.

Q2.)yes , it is true that Short-term fluctuations in real GDP are irregular and unpredictable.

Q3.) A decrease in real GDPcoincide with declining personal income, and falling corporate profits. As incomes decline consumer spending also decline on retail goods and services and on durable goods, such asautomobiles. Households also contribute to declining investment expenditures by purchasing fewernew homes. As households spend less on products, firms cut back on industrial production and curbinvestment expenditures on physical capital.The unemployment rate tends to rise during periods of falling real GDP as firms cut back on productionand lay off workers. The unemployment rate tends to fall during economic expansions as firms expands production and hire additional workers.

5 0
3 years ago
Social network marketing is thought of as being earned and is not a strategy for which a company has to pay. False or True
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Answer:

True

Explanation:

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8 0
3 years ago
Suppose that your colleague has accidentally spilled coffee on his laptop and the file containing your firm\'s cost data has bee
Wittaler [7]

Solution:

Q      MC       FC      VC     TC      AFC     AVC     ATC

0       NA       50        0       50       NA      NA       NA

1        50      50       50      105       50       50      105

2        19       50      64       104       20       32       52

3       85        40      149      189    13.33    49.67  63.00

4      223       40      372     412       10        93        103  

TC=FC+VC

FC=40

VC=TC-FC

MC=change in TC

AFC=FC/Q

AVC=VC/0

ATC=TC/0

a) TC when 0=0 = 40 because FC = 40 remains constant and the firm still incurs a total cost equal to its FC when it produces zero output.

b) MC for first unit = 45

c) ATC of 3rd unit = 63

d) AVC for 4th unit = 93      

6 0
3 years ago
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