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2 years ago

In four to six sentences, explain the savings-borrowing-Investing cycle.

Business

1 answer:

svet-max [94.6K]2 years ago

6 0

Explanation:

The saving-borrowing-investing cycle generally begins with consumer borrowing to fund their purchases and for seed capital and they then use this capital to invest in their future.

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2 years ago

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3 years ago

Marvin was interested in how his target market spends money around the November/December holidays. He first reviewed existing da

andrezito [222]

Answer: secondary data

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2 years ago

In your own words, explain the usefulness of spreadsheet models.

malfutka [58]

Answer:

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2 years ago

Direct Labor Hours Machine Hours Blending Department Whole milk 260 650 Skim milk 245 710 Cream 215 260 720 1,620 Packing Depart

r-ruslan [8.4K]

Answer:

1. Wee have:

Blending department overhead rate = $110 per machine hour

Packing department overhead rate = $135 per direct labor hour

2. We have:

Whole Milk Total factory overhead = $134,950

Skim Milk Total factory overhead = $118,600

Cream Total factory overhead = $46,150

Explanation:

Note: This question is not complete and the data in it are merged together. The complete question with the sorted data are therefore presented before answering the question as follows:

Spotted Cow Dairy Company manufactures three products—whole milk, skim milk, and cream—in two production departments, Blending and Packing. The factory overhead for Spotted Cow Dairy is $299,700.

The three products consume both machine hours and direct labor hours in the two production departments as follows:

Direct Labor Hours Machine Hours

Blending Department

Whole milk 260 650

Skim milk 245 710

Cream 215 260

720 1,620

Packing Department 

Whole milk 470 500

Skim milk 300 415

Cream 130 165

900 1,080

Total 1,620 2,700

The management of Spotted Cow Dairy Company now plans to use the multiple production department factory overhead rate method. The total factory overhead associated with each department is as follows:

Blending Department $178,200

Packing Department 121,500

Total $299,700

Required:

1. Determine the multiple production department factory overhead rates, using machine hours for the Blending Department and direct labor hours for the Packing Department.

2. Determine the product factory overhead costs, using the multiple production department rates in (1).

The explanation of the answer is now given as follows:

1. Determine the multiple production department factory overhead rates, using machine hours for the Blending Department and direct labor hours for the Packing Department.

Blending department overhead rate = Blending department overheads / Blending department machine hours = $178,200 / 1,620 = $110 per machine hour

Packing department overhead rate = Packing department overheads / Packing department labor hours = $121,500 / 900 = $135 per direct labor hour

2. Determine the product factory overhead costs, using the multiple production department rates in (1).

Note: See the attached excel file for the determination of the product factory overhead costs, using the multiple production department rates.

In the attached excel file the following formulae are used to calculate the product factory overhead costs:

Blending department factory overhead = Machine fours * Overhead rate per machine hour

Packing department factory overhead = Direct labor hours * Overhead rate per direct labor hour

From the attached excel file, we have:

Whole Milk Total factory overhead = $134,950

Skim Milk Total factory overhead = $118,600

Cream Total factory overhead = $46,150

Download xlsx

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2 years ago

In four to six sentences, explain the savings-borrowing-Investing cycle.​

In four to six sentences, explain the savings-borrowing-Investing cycle.