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spin [16.1K]
3 years ago
15

Murphy Manufacturing estimated total manufacturing overhead for 2021 to be $100,000 and uses direct labor-hours as the allocatio

n base. They estimated that 5,000 hours would be used. Actual overhead for 2021 was $120,000 and actual direct labor-hours were 7,500. The overhead applied to a job completed during 2021 that used 200 direct labor-hours was ______. Multiple choice question.
Business
1 answer:
egoroff_w [7]3 years ago
8 0

Answer: 4,000

Explanation:

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Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.3 cus
S_A_V [24]
  • It is recommended to use one consultant with an average service time of 8 minutes/customer.
  • The total cost for the first scenario where there is one consultant with an average service time of 8 minutes per customer is $ 29.05
  • The total cost for the second scenario where there are two consultants with an average service time of 10 minutes per customer is $ 49.16

<u>Explanation</u>:

Given,

Average customer arrival = λ =2.3 customers/hour

Average consultant time1 = μ  = 8 minutes/customer

Average consultant time2 = μ  = 10 minutes/customer

Cost of consultants service = $18

Cost of customer waiting time = $25

Convert the average consultant time to hours/customer

Average consultant time1 = μ  = 60/8 = 7.5 hours/customer

Average consultant time2 = μ  = 60/10 = 6 hours/customer

  • Single consultant queuing model:

Calculations for one consultant

Average no. of customers waiting for service = Lq = λ²/μ(μ-λ)

Average no. of customers waiting for service = Lq = (2.3)²/7.5(7.5 - 2.5)

Average no. of customers waiting for service = Lq = 0.1356

Average no. of customers in the system = L = Lq + λ/μ

Average no. of customers in the system = L = 0.1356 + 2.3/7.5

Average no. of customers in the system = L = 0.442

Total cost = (customer waiting time cost)*L + consultant service cost

Total cost = $ 25 \times 0.442 + $ 18

Total cost = $ 29.05

  • Multi consultant queuing model:

Calculations for two consultants

Average no. of customers waiting for service,

             Lq = ((λ/μ)^k(λμ)/(k -1)(kμ - λ)) \times P₀

Where k = 2 is the number of consultants and P₀ is the probability that all of the k consultants are idle. The value of P₀  can be found in the tables with λ/μ = 2.3/6 = 0.38 and k = 2,  P₀ ≅ 0.685

Average no. of customers waiting for service,

            Lq = (2.3/6)²(2.3 \times 6) / (2-1)(2 \times 6 - 2.3) \times 0.685

Average no. of customers waiting for service = Lq = 0.1431

Average no. of customers in the system = L = Lq + λ/μ

Average no. of customers in the system = L = 0.1431 + 2.3/6

Average no. of customers in the system = L = 0.5264

Total cost = (customer waiting time cost)*L + consultant service cost

Total cost = $25 \times 0.5264 + ($18) \times 2 (since there are 2 consultants now)

Total cost = $ 49.16

3 0
3 years ago
Mary, Ann, and Beth are partners. Their capital balances​ are, ​; ​; and ​, respectively. As per the partnership​ agreement, Mar
77julia77 [94]

Complete Question:

Mary, Ann, and Beth are partners. Their capital balances are $23,000, $41,000 and $30,000 respectively As per the partnership agreement Mary receives a profit share of 2/9, Ann has 4/9, and Beth has 39 Beth withdraws from the partnership by receiving $23.000 What will be the impact of this transaction on the journal entries?

A. Cash will be debited for $30,000

B. Mary. Capital will be debited for S 7,000

C. Ann, capital will be credited for $7,000

D. Beth, Capital will be debited for $30,000

Answer:

D. Beth, Capital will be debited for $30,000

Explanation:

The entry would be reduction in capital by $30,000 because his investment is sold for $23,000 and the remainder $7,000 would be profit for two remaining partners and would be shared with their respective ownership.

The entry is as under:

Dr Beth Capital Account $30,000

Cr               Mary Capital A/c              $2,333            (1/3) of $7,000

Cr               Ann Capital A/c                $4,667            (1/3) of $7,000

Cr              Cash Account                    $23,000

Hence the option D is correct here.

Option A is incorrect because cash wasn't debited with.

Option B is incorrect because Mary capital wasn't debited, it was credited.

Option C is also incorrect because Ann's capital was credited but with (2/3) share.

5 0
3 years ago
Green Corporation (a calendar year taxpayer) had a deficit in accumulated E &amp; P of $250,000 at the beginning of the current
Jet001 [13]

Answer:

Check the following explanation.

Explanation:

Corporation has no accumulated E & P at the time of the distribution. The shareholder has a taxable dividend equal to the current E & P determined at year-end, which was $40,000. The balance of the distribution,$20,000, reduces the shareholder’s basis in the stock, and any excess over basis results in capital gain.

4 0
3 years ago
What is business economy
otez555 [7]

Business economics is a field of applied economics that studies the financial, organizational, market-related and environmental issues faced by corporations.

7 0
3 years ago
As a corporation grows in size of employment, perhaps becoming influential nationally or globally, what public perception is dev
Korolek [52]

As a corporation grows in size of employment C. perceived permanence​ is developed.

A enterprise, every so often called a C corp, is a legal entity it really is cut loose its proprietors. corporations could make a income, be taxed, and may be held legally liable. corporations offer the most powerful safety to its proprietors from personal legal responsibility, but the value to form a enterprise is higher than other structures.

A employer is a standard reference to a enterprise whereas a corporation is a reference to a particular type of commercial enterprise entity. A corporation is owned through its shareholders while a organization may be owned either by the commercial enterprise owner in complete (sole proprietorship), several people

Agencies offer the most powerful safety to its owners from private liability, however the cost to shape a agency is higher than different systems. groups additionally require greater enormous file-keeping, operational techniques, and reporting.

Learn more about corporation here: /brainly.com/question/2514694

#SPJ1

5 0
2 years ago
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