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andrew-mc [135]
3 years ago
7

Teller Co. is planning to sell 900 boxes of ceramic tile, with production estimated at 870 boxes during May. Each box of tile re

quires 44 pounds of clay mix and a quarter hour of direct labor. Clay mix costs $0.40 per pound and employees of the company are paid $12.00 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Teller has 3,900 pounds of clay mix in beginning inventory and wants to have 4,500 pounds in ending inventory.
Required:
What is the total amount to be budgeted for manufacturing overhead for the month?
Business
1 answer:
Shtirlitz [24]3 years ago
5 0

Answer:

Budgeted overhead= $2,877.6

Explanation:

Giving the following information:

<u>Direct labor required:</u>

Production= 870 units

Direct labor hours= 870*0.25= 218 hours

Direct labor cost= $12 an hour

Manufacturing overhead is applied at a rate of 110% of direct labor costs.

<u>To calculate the allocated overhead for the period, we need to use the following formula:</u>

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

Direct labor cost= 218*12= $2,616

Allocated MOH= 1.1*2,616= $2,877.6

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Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fires are
sergejj [24]

Answer:

Option (C) is correct.

Explanation:

Nominal GDP:

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4000 × 3) + (6000 × 1.5)

= 12,000 + 9,000

= $21,000

Real GDP (in 2008 prices)

= (No. of burgers sold × Selling price of each) + (No. of fries sold × Selling price of each)

= (4,000 × $2.50) + (6000 × $2)

= 10,000 + 12,000

= $22,000

GDP deflator:

= (Nominal GDP ÷ Real GDP) × 100

=  (21000 ÷ 22000) × 100

= 95.45

8 0
3 years ago
Maxine wishes to purchase a pair of running shoes made by her favorite brand. Her budget is limited, and she notices shoes made
ANTONII [103]

Answer:

The correct answer is The price of the alternative was too high.

Explanation:

The market price is the price at which a good or service can be purchased in a free market. It is an economic concept of application both in historical aspects of the discipline and in its concrete use and in daily life.

The concept has given rise to both technical and theoretical discussions in the development of economic sciences. These discussions range from the definition of what a market is to what is understood by price, difficulties that acquire a particular importance in the microeconomics, an area in which one of the most important functions of an economist is the determination of prices that maximize profit of a company. However, the problem also extends to the macroeconomic sphere, in which price calculations play a central role in determining the hypothetical economic balance.

8 0
3 years ago
Union Local School District has bonds outstanding with a coupon rate of 3.1 percent paid semiannually and 22 years to maturity.
arlik [135]

Answer:

The price of the bond is $9,537.91

Explanation:

Coupon payment = $10,000 x 3.1 = $310 / 2  = $155

Number of period = n = 22 x 2 = 44 semiannual periods

Face Value = $10,000

Yield to maturity = 3.4% yearly = 3.4% /2 = 1.7% semiannually

Price of bond is the present value of future cash flows, to calculate Price of the bond use following formula:

Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Price of the Bond =$155 x [ ( 1 - ( 1 + 1.7% )^-44 ) / 1.7% ] + [ $10,000 / ( 1 + 1.7% )^44 ]

Price of the Bond = $155 x [ ( 1 - ( 1.017 )^-44 ) / 0.017 ] + [ $10,000 / ( 1.017 )^44 ]

Price of the Bond = $4,774.94 + $4,762.97

Price of the Bond = $9,537.91

5 0
3 years ago
Reedy Company reports the following information for 2012:
asambeis [7]

Answer:

Ending WIP= $13,500

Explanation:

<u>First, we need to calculate the factory overhead:</u>

Factory overhead= 25,000*0.75= $18,750

<u>Now, the ending WIP inventory:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

68,250 = 11,000 + 27,000 + 25,000 + 18,750 - Ending WIP

Ending WIP= $13,500

4 0
3 years ago
Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream
Julli [10]

Answer:

d. Charities

Explanation:

Charity is one  the ways of solving or dealing with externalities that affect a society, without the intervention of the government. This involves the effort of a charitable organization in raising enough money to do something useful for the society to mitigate such externalities affecting it.

As stated in the question above, we can see that the environmental organization is a charitable organization, who have taken it upon itself to advance the course of campaigning against far’s pollution. It is a nonprofit organization that raises money through donations, in order to help finance the campaign. Their main objectives focused on the well-being  the local community.

5 0
3 years ago
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