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3 years ago

Why is labour productivity important for some businesses?

Business

1 answer:

Verizon [17]3 years ago

6 0

Answer:

Labor productivity is directly linked to improved standards of living in the form of higher consumption.

Explanation:

As an economy's labor productivity grows, it produces more goods and services for the same amount of relative work.

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Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $

Viefleur [7K]

Answer:

A. $2.40 per Machine hour

B. Underapplied = $10,000

C. cost of goods sold (debit) $10,000 , overheads (credit) $10,000

Explanation:

A) Compute the manufacturing overhead rate for the year

Overhead Rate = Total Fixed Overheads / Budgeted Activity

= $300,000 / 125,000 Machine hours

= $2.40 per Machine hour.

B) What is the amount of under- or over applied overhead at December 31st?

Under Applied Overheads = Actual Overheads > Applied Overheads

Over Applied Overheads = Actual Overheads < Applied Overheads

Actual Overheads = $322,000

Applied Overheads = $2.40 × 130,000 hours = $ 312,000

Underapplied = $10,000

C) Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.

cost of goods sold (debit) $10,000

overheads (credit) $10,000

7 0

3 years ago

Read 2 more answers

Personal finance and I need help

Alex777 [14]

A. It is decreased by 50,000 (I'm 50% sure)
6% of 50,000 is 3,000

3 0

3 years ago

According to the article by Hutchinson, Farris and Anders (2007), cash-to-cash analysis is difficult because financial data and

Margarita [4]

Answer:

False

Explanation:

"Cash-to-cash Analysis and Management" by Hutchinson, Farris and Anders talks about the availability of the financial data and computer technology in assisting a business when it comes to determining its cash-to-cash position (C2C), as well as the benchmarks needed for comparison.

Cash-to-cash analysis was difficult in the past, however, it is easier nowadays. The supply chain is even examined at a broader view than before. C2C efficiency is possible by utilizing the readily available financial date and computer technology. So, this makes the statement above as "false."

So, this explains the answer.

6 0

3 years ago

A business issued a 120-day, 5% note for $84,000 to a creditor on account. Journalize the entries to record (a) the issuance of

sveta [45]

Answer:

a. Issuance of note:

Date Account title Debit Credit

XX-XX Accounts Payable $84,000

Notes Payable $84,000

b. The payment of the note at maturity, including interest. Assume a 360-day year.

Interest payment = 84,000 * 5% * 120/360

= $1,400

Date Account title Debit Credit

XX-XX Note Payable $84,000

Interest payable $1,400

Cash $85,400

3 0

3 years ago

Revenue on account amounted to 54,000. Cash collections of accounts receivable amounted to $2,300. Expenses for theperiod were 5

Georgia [21]

Answer:

Option (D) is correct.

Explanation:

Given that,

Revenue on account = $54,000

Cash collections of accounts receivable = $2,300

Expenses for the period = $52,100

company paid dividends = $450

Net income for the period:

= Revenue on account - Expenses for the period

= $54,000 - $52,100

= $1,900

Therefore, the net income for the period is $1,900.

8 0

3 years ago