Answer:
$175,000
Explanation:
Given:
Per unit cost of manufacturing = $4.50
Normal production rate = 50,000 units per year
Direct materials and direct labor costs = $2.50 per unit
Incremental overhead costs = $50,000 per year
Allocated fixed overhead costs = $50,000 per year
Quoted price = $3.70 per unit
Now,
total relevant cost per unit
= Direct materials and direct labor costs + (allocated fixed overhead costs ÷ Number of units to be made )
= $2.50 +
= $2.50 + $1
= $3.50
Therefore,
Total relevant cost of making 50000 units
= $3.5 × 50,000
= $175,000
Answer:
$60,000
Explanation:
In 2017, uncollectible accounts receivable were written of $90,000, the mount more than Allowance for Doubtful Accounts balance on 1 January 2017. The company must make the entry:
Debit Allowance for Doubtful Accounts: $36,000
Debit Bad debt expense: $54,000
Credit Uncollectible accounts receivable: $90,000
So, before adjunsting, Allowance for Doubtful Accounts had balance of $0 on 31 December 2017.
The allowance should be: 10%x $600,000 = $60,000
and the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017: $60,000-$0=$60,000
Answer:
Equilibrium price and Quantity are the price at which Demand and Supply equal each
1. Local
If quantity demanded = 30 - p
And quantity supplied = p
And we know equilibrium is achieved when both are equal.
Therefore 30 - p = p is equilibrium
2p = 30
P = 15
Equilibrium Quantity demanded & supplied = 30 - 15 = 15.
2. Foreign
If quantity demanded = 20 - p
And quantity supplied = p
And we know equilibrium is achieved when both are equal.
Therefore 20 - p = p is equilibrium
2p = 20
P = 10
Equilibrium Quantity demanded & supplied = 20 - 10 = 10
3. The importer of cars is the demand for foreign = 20 - P
4. The exporter of cars is the supply of foreign cars = P.
Answer:
There is some information missing, and when I looked for it I found similar questions but the demand was already given and the question was about Vincent's total daily income.
Passenger Price Daily demand
Adults $18 70
Children $10 25
Senior citizens $12 55
total 150
total revenue per day = ($18 x 70) + ($10 x 25) + ($12 x 55) = $1,260 + $250 + $660 = $2,170
total operating costs per day = (150 / 50) x $450 = $1,350
operating income per day = $2,170 - $1,350 = $820
Answer:
Equivalent units of work done to date
a. Direct Conversion = 556 unit
b. Materials Costs = 514 unit
Explanation:
Note: Attached is the full question for better understanding
Equivalent units
Physical Direct Conversion
units materials costs
Work in Process beginning 90
Started during current period <u> 515</u>
To account for 605
Completed and transferred 465 465 465
out during current period
Work in Process,ending <u> 140 </u> <u>91</u> <u> 49
</u>
Accounted for <u>605</u>
Equivalent units of work done to date <u>556</u> <u>514</u>
<u>Workings</u>
Work in Process,ending:
Direct materials = 140*65% = 91
Conversion costs = 140*35% = 49