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3 years ago

Laubitz Company begins operations on Apr.1. Information from job cost sheets shows the following:

Business

1 answer:

Inessa [10]3 years ago

6 0

Answer:

1. 2. April 30 $11600

31-May $20100

2. April 30 $3,200

31-May $11,90

3. Profit April 0

May$800

June $2975

Explanation:

1) Calculation for Work in Process Inventory at

April 30 and 31-May

Work in Process Inventory at

April 30=7500+4100

Work in Process Inventory at

April 30=$11600

Work in Process Inventory at31-May =4100+6900+4700+4400

Work in Process Inventory at31-May= $20100

2) Calculation for Finished Goods Inventory at

April 30 and 31-May

Finished Goods Inventory at

April 30: $3,200

Finished Goods Inventory at 31-May =7500+4400

Finished Goods Inventory at 31-May= $11,900

3) Calculation for Gross Profit

Gross Profit April : 0

Gross Profit May =3200*25%

Gross Profit May=800

Gross ProfitJune :- Job 10 =(7500+4400)*25% Gross Profit June 2975

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Answer:

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Explanation:

The computation of price allocated is shown below:-

Ratio of values $90,000 : $60,000 : $30,000

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3 years ago

The equipment and structures available to produce goods and services are called

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Answer:

physical capital (c)

Explanation:

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Norma-Jean [14]

Explanation:

The identification of the cost driver is presented below:

This identification is required so that the indirect cost can be allocated according to the each cost pool

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Inspections = Number of inspections

Test = Number of test

Insurance, plant = Machine hours or square feet

Engineering design = Engineering Hours

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Machine setup, indirect labor = Number of setups

Property taxes = Machine hours or square feet

Oil, heating = Machine hours or square feet

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3 years ago

For an auto insurance company, the average cost of collision claims is $500 per year for careful drivers and $3000 per year for

Rainbow [258]

Answer:

option (c) $875 per year

Explanation:

Given;

Average cost of collision claims for careful drivers = $500 per year

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thus,

Careful drivers = (100% - 15%) = 85%

Therefore,

Insurance company's breakeven price for the collision insurance

= (Poor drivers known × Average cost of collision for poor drivers ) +( Careful drivers × Average cost of collision claims for careful drivers)

= 0.15 × $3000 + 0.85 × $500

= $450 + $425

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Hence, the correct answer is option (c) $875 per year

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3 years ago

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Answer:

implied

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3 years ago