1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
torisob [31]
3 years ago
12

Consider the elements of cost in Geordie Ltd, namely, the cost of a product, the cost of direct labour and the cost of non-labou

r expenses (usually referred to as the overhead). In this company the material cost of a product is $6 less than thrice the cost of the direct labour; and the overhead is 3/4 of the direct labour cost. Knowing that the total cost of the product is $120, compute the amount of the material cost of the product, rounded to nearest 100-th
Business
1 answer:
tangare [24]3 years ago
3 0

Answer:

$73.58

Explanation:

Total cost of product = $120

Total cost of product = Cost of material + Direct labor + Overhead

Cost of material = (3 * direct labor) - $6

Overhead = ¾ of Direct labor

Total cost of product = 3DL - $6 + DL + ¾ of DL

$120 = 3DL - $6 + DL + 0.75 DL

$126 = 4.75 DL

Direct Labor = 126/4.75

Direct Labor = $26.53

 

Material cost = 3 * $26.53 - $6

Material cost = $73.58

You might be interested in
Why is money everything? Why is money kore important than life itself? Why does koney control you? Money is scary.
masha68 [24]
Money is life. Money is healthcare and food. Money is shelter. Money is family outings and entertainment. And unfortunately, money seems to be power. 
7 0
3 years ago
Suppose the government imposes a $10 per month tax on cell phone service. If the demand curve for cell phone service is perfectl
dlinn [17]

Answer:

c. $10.

Explanation:

Suppose the government imposes a $10 per month tax on cell phone service. If the demand curve for cell phone service is perfectly inelastic and the supply curve is upward-sloping, the monthly price for <u>cell phone service will increase by $10.</u>

As given, the government imposes a $10 per month tax on cell phone service, which means the price of cell phone services will be costlier and increases, however, the demand curve for cell phone service is perfectly inelastic, which mean price of the product does not have any impact on the demand of the product. Then it is given the supply curve is upward sloping, which reflects the higher price of cell phone service is needed to cover the higher marginal cost of production. Therefore, the monthly price for cell phone service will increase by $10.

6 0
3 years ago
Why is marketing important to an organization? Describe key benefits to implementing a marketing concept, and explain how employ
abruzzese [7]

Answer: Marketing plays an important role in establishing relationships between customers and the organizations offering to the market. ... The marketing function is also tasked with the branding of the organization, participation in publicity activities, advertising and customer interaction through feedback collection.

The Marketing Department plays a vital role in promoting the business and mission of an organization. ... It is the Marketing Department's job to reach out to prospects, customers, investors and/or the community while creating an overarching image that represents your company in a positive light.

The marketing concept is based on the “right” principle. The marketing concept is the use of marketing data to focus on the needs and wants of customers in order to develop marketing strategies that not only satisfy the needs of the customers but also accomplish the goals of the organization.

The roles of the employee in the marketing departments are:

1. Oversees the marketing department

2. provides direction and feedback on major projects.

The accounting departments oversee the cash flow of the company also helps in terms of budgeting.

Explanation:

5 0
3 years ago
Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 9.5% bon
Andre45 [30]

Answer:

Garzon Company

Journal Entries

January 1 Debit 9.5% Bonds Receivable PBS $45,600

Credit Cash $45,600

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,166

Credit Bonds Interest Revenue $2,166

To record the receipt of first semiannual interest.

December 31 Debit Cash $47,766

Credit 9.5% Bonds Receivable $45,600

Credit Bonds Interest Revenue $2,166

To record the receipt of both principal and second semiannual interest.

January 1 Debit 9% Bonds Receivable PBS $52,000

Credit Cash $52,000

To record the purchase of bonds in PBS.

June 30 Debit Cash $2,340

Credit Bonds Interest Revenue $2,340

To record the receipt of first semiannual interest.

December 31 Debit Cash $54,340

Credit 9% Bonds Receivable $52,000

Credit Bonds Interest Revenue $2,340

To record the receipt of both principal and second semiannual interest.

Explanation:

a) Data and Analysis:

January 1 9.5% Bonds Receivable PBS $45,600 Cash $45,600

June 30 Cash $2,166 Bonds Interest Revenue $2,166

December 31 Cash $47,766 9.5% Bonds Receivable $45,600 Bonds Interest Revenue $2,166

January 1 9% Bonds Receivable PBS $52,000 Cash $52,000

June 30 Cash $2,340 Bonds Interest Revenue $2,340

December 31 Cash $54,340 9% Bonds Receivable $52,000 Bonds Interest Revenue $2,340

3 0
2 years ago
Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function
dedylja [7]

Answer:

267 output

Explanation:

The computation of the output produced in the short run is shown below:

As it is given that

AVC i.e average variable cost function = 4.0 - 0.0024Q + 0.000006Q^2

And,

FC i.e fixed cost = $500.

Plus we know that

Total variable cost i.e TVC = AVC × Q i.e Quantity

So,

AVC × Q = TVC

= 4Q - 0.0024Q^2 + 0.000006Q^3

And,

The total cost = Total variable cost + Fixed cost

So,

TC = TVC + FC

= 4Q-.0024Q^2 + .000006Q^3 +$500.

And, the MC i.e marginal cost is

= Total cost  ÷ Quantity

MC = 4 - 0.0048Q + 0.000018Q^2

MC = 4

So,

Price = MC i.e 4

4 - .0048Q + .000018Q^2 = 4

So after solving this Q is 266.67 i.e 267 output

6 0
3 years ago
Other questions:
  • Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 45,800 comforters this year. Each comforter require
    7·1 answer
  • Iron triangles have given way to _____ over the years. intergovernmental lobbying issue networks reverse lobbying iron squares
    12·1 answer
  • Shahia Company bought a building for $73,000 cash and the land on which it was located for $107,000 cash. The company paid trans
    8·1 answer
  • Cole Co. began constructing a building for its own use in January 2016. During 2016, Cole incurred interest of $50,000 on specif
    12·1 answer
  • Bond valuationlong dashSemiannual interest Find the value of a bond maturing in 4 ​years, with a ​$1 comma 000 par value and a c
    7·1 answer
  • Here, the rod has a diameter d of 16 centimeters. The length from point A to point B, LAB, is 2 meters, and the length from poin
    15·1 answer
  • Meat Puppets Company purchased equipment for $7,200 on December 1. It is estimated that annual depreciation on the equipment wil
    6·1 answer
  • Hunter Sailing Company exchanged an old sailboat for a new one. The old sailboat had a cost of $250,000 and accumulated deprecia
    7·1 answer
  • Why or why not hats and hoods should be allowed in school
    15·1 answer
  • ______ are any assets that a firm can draw on when formulating and implementing a strategy.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!