All categories

2 years ago

Kennedy Company reports the following costs and expenses in May.

Business

1 answer:

mamaluj [8]2 years ago

4 0

Answer:

a. $161,350

b. $398,050

c. $81,140

Explanation:

Total amount of manufacturing overhead

Factory utilities $16,500

Depreciation on factory equipment $12,650

Indirect factory labor $48,900

Indirect materials $70,800

Factory manager's salary $8,000

Property taxes on factory building $2,500

Factory repairs $2,000

Total $161,350

Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.

The total amount of product costs

Direct materials used $157,600

Direct labor $79,100

Manufacturing Overhead $161,350

Total $398,050

Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.

The total amount of period costs

Depreciation on delivery trucks $3,800

Sales salaries $48,400

Repairs to office equipment $1,300

Advertising $23,000

Office supplies used $4,640

Total $81,140

Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.

You might be interested in

From 1973 to 1986, growth in the United States economy was over 33 percent, while the percent growth in United States energy con

Ierofanga [76]

Answer: D

Explanation:

We are given a comparison between 'economic growth' and 'growth energy consumption' and told that the first increased and the second did not. We are also told that a certain amount of oil is being saved by energy improvements. As it is difficult to infer a likely answer in 'must or could be true' type questions, we'll go over all of the options, the Alternative approach.

A. We have no information on the relative ease of finding new sources of oil. No

B. We have no information on how to reduce oil imports. No

C. We have no information on what caused energy consumption to remain steady. No

D. This is exactly what happened so is true. This is almost certainly our answer, let's go over (Correct )

E. We have no information on the link between development of energy sources and growth. No

(D) is our answer; note that all other answers explicitly added information not in the original passage. This is what you need to watch out for in these types of questions.

7 0

2 years ago

Suppose that the adult population in the town of Springfield is 225 million. If 40 million are unemployed and 100 million are em

amid [387]

Answer:

a) 29%

Explanation:

The formula to compute the unemployment rate is shown below:

Unemployment rate = (Number of Unemployed workers) ÷ (Total labor force) × 100

where,

Number of unemployed = 40 million

Total labor force = Number of unemployed + number of employed

= 40 million + 100 million

So, the unemployment rate would be

= (40 million) ÷ (140 million) × 100

= 29%

5 0

2 years ago

Infinity Clock Company prepared the following static budget for the year: Static Budget Units/Volume 5 comma 000 Per Unit Sale

aalyn [17]

Answer:

a) Operating income - $33,800

Explanation:

The flexible budget would be prepared for a different activity level of 6,300 production units but using the assumptions of the fixed budget

Sales revenue - ($7× 6,300 units ) : 44,100.00

Less Variable cost - ($1 × 6,300 units ) : ( 6,300)

Contribution 37,800

Less Fixed costs (4,000)

33,800

Note that the fixed costs of $4000 remains the same for both the static and flexible budgets. This is because the activity level of 6,300 units of the flexible budget remains within relevant range. So the fixed cost would not change.

4 0

2 years ago

Which of the following is an argument for free trade?

ipn [44]

i think it's" B" , from the explanation!

Explanation:

Free trade increases the size of the economy as a whole. It allows goods and services to be produced more efficiently. ... Free trade is good for consumers. It reduces prices by eliminating tariffs and increasing competition. Greater competition is also likely to improve quality and choice.

4 0

2 years ago

An effective minimum wagea. imposes a price ceiling on the wages of various categories of low-skill workers.b. increases the dem

Strike441 [17]

Answer:

d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.

Explanation:

Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.

Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.

Minimum wage isn't a price ceiling but a price floor.

Minimum wage increases the income of Labour.

5 0

2 years ago