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Fantom [35]
3 years ago
5

Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year: Work in Proces

s, January 1 $ 50,000 Work in Process, December 31 37,000 Direct materials used $ 12,500 Total factory overhead 5,500 Direct labor used 26,500 Multiple Choice $13,000. $44,500. $57,500. $94,500. $89,000.
Business
1 answer:
Paraphin [41]3 years ago
3 0

Answer:

b. $44,500

Explanation:

Particulars                             Amount

Direct material used             $12,500

Direct labor used                  $26,500

Total factory overhead         <u>$5,500</u>

Total Manufacturing Cost   <u>$44,500</u>

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iragen [17]

Answer:

a. explicit cost

b. explicit cost

c. implicit cost

d. implicit cost

Explanation:

Explicit costs can be defined as the actual costs incurred to run the business like supplies, utilities, materials or wages, while implicit costs can be defined as the opportunity cost of running the business like the potential salary of working in another job or the possible revenue of renting the current operating location.

a. The wages and utility bills that Sam' pays - explicit cost (actual costs)

b. The wholesale cost for the guitars that Sam' pays the manufacturer - explicit cost (actual costs)

c. The rental income Sam' could receive if he chose to rent out his showroom  - implicit cost (potential revenue lost)

d. The salary Sam' could earn if he worked as a financial advisor - implicit cost (potential revenue lost)

7 0
3 years ago
The bonds issued by Stainless Tubs bear an 8 percent coupon, payable semiannually. The bonds mature in 11 years and have a $1,00
GenaCL600 [577]

Answer:

8.69%

Explanation:

Face value (FV)=$ 1,000.00

Coupon rate=8.00%

Interest per period (PMT) =$30.00

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Number of compounding periods till maturity (N)                                                  22

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4 0
3 years ago
Benefits can represent more than ______ of the employer's total payroll costs. a. 28 percent b. 7 percent c. 66 percent d. 12 pe
gtnhenbr [62]

Answer:

b. 7 percent

Explanation:

Benefits here means the statutory benefits that the employees have a right to receive. These on the legal terms are the requirements, as the employer is required to contribute around 7.65% of the salary paid to the employee towards benefits of social security and Medicare.

This clearly is the standard set for the payroll. Now this also provides for the minimum contributions, thus it provides that at-least these are to be made.

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4 0
3 years ago
Nancy has a portfolio of two stocks. Stock A has an expected return of 8% and stock B has an expected return of 10%. Her funds a
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Using this formula

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