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eimsori [14]
3 years ago
8

Snappy Company has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufa

cturing overhead to jobs. Manufacturing overhead cost and direct labor hours were estimated at $54,400 and 32,000 hours, respectively, for the year. In July, Job #334 was completed at a cost of $2,736 in direct materials and $1,664 in direct labor. The labor rate is $5.20 per hour. By the end of the year, Snappy had worked a total of 37,000 direct labor-hours and had incurred $64,650 actual manufacturing overhead cost. If Job #334 contained 120 units, the unit product cost on the completed job cost sheet would be:
Business
1 answer:
Fudgin [204]3 years ago
5 0

Answer:

Unitary cost= $41.2

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (54,400/32,000)

Predetermined manufacturing overhead rate= $1.7 per direct labor hour

<u>Now, we can allocate overhead based on actual direct labor hours:</u>

<u></u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Direct labor hours= 1,664 / 5.2= 320

Allocated MOH= 1.7*320= $544

<u>Finally, the total cost and unitary cost:</u>

Total cost= 544 + 1,664 + 2,736

Total cost= $4,944

Unitary cost= 4,944 / 120

Unitary cost= $41.2

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marta [7]
Could be cause of trade , if you have land it is also good for crops which is production 
3 0
3 years ago
Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
Mashcka [7]

Answer:

d. $4,500

Explanation:

The computation of depreciation expense on the new equipment is shown below:-

For computing the depreciation expense on the new equipment first we need to find out the Depreciation per annum which is here below:-

Depreciation per annum = (Cost - Residual value) ÷ Life

= ($76,000 - $4,000) ÷ 8

= $72,000 ÷ 8

= $9,000

Depreciation for 1 year calendar (July 1 to Dec 31) = Depreciation per annum × 6 months ÷ Total number of months in a year

= $9,000 × 6 ÷ 12

= $4,500

So, the depreciation expenses for the year end up-to 31st Dec is $4,500

8 0
3 years ago
How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitiv
Hatshy [7]

If supply decreases and demand is constant, there would be an increase in equilibrium price while equilibrium quantity would decrease.

If demand decreases and supply is constant,  there would be a a fall in equilibrium price and equilibrium quantity.

If supply increases and demand is constant, it would lead to a fall in equilibrium price and equilibrium quantity.

If demand increases and supply increases, it would lead to an increase in equilibrium quantity and an indeterminate effect on equilibrium price.

If demand increases and supply is constant, there would be an increase in equilibrium quantity and price.

If supply increases and demand decreases, it would lead a fall in equilibrium price and an indeterminate effect on equilibrium quantity.

If demand increases and supply decreases, equilibrium price increases and there is an indeterminate effect on equilibrium quantity.

If demand decreases and supply decreases, equilibrium quantity declines and there is an indeterminate effect on equilibrium price.

<h3>How do these changes affect equilibrium price and quantity?</h3>

If supply decreases while demand remains constant, there would a shift to the left of the supply curve. This would lead to an increase in equilibrium price while equilibrium quantity would decrease.

If demand decreases while supply remains constant, there would a shift to the left of the demand curve. This would lead to a fall in equilibrium price and equilibrium quantity.

If supply increases while demand remains constant, there would a shift to the right of the supply curve. This would lead to an decrease in equilibrium price while equilibrium quantity would increase.

If demand increases, there would be an increase in equilibrium quantity and price. If supply increases, it would lead to an decrease in equilibrium price while equilibrium quantity would increase. The two would lead to an increase in equilibrium quantity and an indeterminate effect on equilibrium price.

If demand increases, there would be an increase in equilibrium quantity and price.

If supply increases it would lead to an decrease in equilibrium price while equilibrium quantity would increase. If demand decreases it would lead to a fall in equilibrium price and equilibrium quantity. It would lead a fall in equilibrium price and an indeterminate effect on equilibrium quantity.

If demand increases, there would be an increase in equilibrium quantity and price. If supply decreases it would lead to an increase in equilibrium price while equilibrium quantity would decrease. Taking these two effects together, equilibrium price increases and there is an indeterminate effect on equilibrium quantity.

If supply decreases it would lead to an increase in equilibrium price while equilibrium quantity would decrease. If demand decreases, it would lead to a fall in equilibrium price and equilibrium quantity. Taking these two effects together, equilibrium quantity declines and there is an indeterminate effect on equilibrium price.

Here is the complete question:

How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market, that is, do price and quantity rise, fall, or remain unchanged, or are the answers is indeterminate because they depend on the magnitudes of the shifts? Use supply and demand to verify your answers. Supply decreases and demand is constant. Demand decreases and supply is constant. Supply increases and demand is constant. Demand increases and supply increases. Demand increases and supply is constant. Supply increases and demand decreases Demand increases and supply decreases. Demand decreases and supply decreases.

To learn more about supply curves, please check: brainly.com/question/26073189

5 0
3 years ago
Question 2
Vesnalui [34]

Answer:

d. willingness to pay of all buyers in the market.

Explanation:

The demand curve shows the relationship between the price of a good or service and the quantity demanded at a particular time.

Therefore, a demand curve reflects:

a. highest price buyers are willing to pay for each quantity.

b.quantity that each buyer will ultimately purchase.

c. value each buyer in the market places on the good.

With this in mind, what the demand curve does not reflect, with these in mind is a willingness to pay of all buyers in the market.

8 0
2 years ago
7. Which situation indicates a mixed economy?
STatiana [176]

Answer:

C Services are provided by both private and public sectors.

Explanation:

In a mixed economy, the private sector has the freedom to participate in economic activities, although the government has a role to play.  A mixed economy allows the private sector to own the factors of production hence are free to decide what business they wish to run. Consumers have the liberty to select their suppliers.  There is competition in the market place as profits motivate entrepreneurs.

The government is involved in the provision of public goods such as roads, hospitals, and schools. It provides regulatory services to the private sector to ensure fairness in the economy.

5 0
3 years ago
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