All categories

2 years ago

Knowledge Check 01 How should the wages of a sheet metal worker in a fabrication plant be classified

Business

1 answer:

Juli2301 [7.4K]2 years ago

7 0

The wages of a sheet metal worker in a fabrication plant should be classified as Product cost.

<h3>What is a product cost?</h3>

A product cost includes all the costs directly related to the production of goods and services. Product costs include:

Direct materials
Direct labor
Manufacturing overheads

Thus, the wages of a sheet metal worker in a fabrication plant should be classified as <u>Product cost</u> because it is a direct labor cost.

Learn more about product costs at brainly.com/question/26194754

You might be interested in

The director of research has asked you to produce a pro forma valuation of a target company using leveraged buyout analysis. A c

statuscvo [17]

6.8 will be the debt-to-EBITDA ratio.

EBITDA* 8.5=Transaction Value

(Transaction value * 0.8) / EBITDA = 6.8

EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a measure of a company's overall financial performance and is used as an alternative to net income in certain circumstances. However, EBITDA can be misleading because it does not reflect the cost of capital investments such as property, plant, and equipment.

This metric also excludes debt-related expenses by adding interest and tax costs to revenues. However, it is a more accurate measure of business performance as it is able to report profit before the effect of accounting and financial deductions.

Learn more about the debt-to-income ratio here: brainly.com/question/24814852

#SPJ4

4 0

2 years ago

A company incurs advertising costs of $10,000. The company's three selling departments have the following sales: Department 1—$1

erik [133]

Answer:

The amount of advertising allocated to:

Department 1: $1,250

Department 2: $3,750

Department 3: $5,000

Explanation:

Total sales of the company = Sales of Department 1 + Sales of Department 2 + Sales of Department 3 = $10,000 + $30,000 + $40,000 = $80,000

Percent of sales of three selling departments:

Department 1 = ($10,000/$80,000)x100% = 12.5%

Department 2 = ($30,000/$80,000)x100% = 37.5%

Department 3 = ($40,000/$80,000)x100% = 50%

Advertising is allocated based on percent of sales. The amount of advertising allocated to:

Department 1 = 12.5% x $10,000 = $1,250

Department 2 = 37.5% x $10,000 = $3,750

Department 3 = 50% x $10,000 = $5,000

5 0

3 years ago

The key distinction between technological efficiency and economic efficiency is that technological efficiency _______ and econo

julsineya [31]

Answer:

The correct answer is option B.

Explanation:

The main difference between technological efficiency and economic efficiency is that technological efficiency is concerned with the quantity of outputs used while economic efficiency is concerned with the value of inputs used.

Technological efficiency implies that a firm is producing a level of input using the least possible quantity of inputs. Economic efficiency occurs when a firm is able to produce a level of output at the least possible cost.

Technological efficiency does not require economic efficiency but economic efficiency require technological efficiency.

8 0

4 years ago

Superior Construction Co. was contracted to plaster all the buildings of a historical preservation project for $2,500,000 over t

Cerrena [4.2K]

Answer:

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

Explanation:

given data

historical preservation project = $2,500,000

time = 2 year

estimated costs = $2,000,000

Actual costs Years 1 = $800,000

Actual costs Years 2 = $900,000

to find out

what amount of gross profit would Superior report in Year 1

solution

we find here first Percentage Completion that is express as

Percentage Completion = Cost to date ÷ Estimated Total Cost .............1

put her value we get

Percentage Completion = $\frac{800000}{2000000}$

Percentage Completion = 40%

and

Revenue Recognized will be here

Revenue Recognized = Percentage Completion × Total estimated Revenue ...............2

Revenue Recognized = 40 % × 25000000

Revenue Recognized = 1000,0000

so here Gross Profit in Year 1 will be

Gross Profit in Year 1 = Revenue Recognized - Cost to date of year 1 ..............3

Gross Profit in Year 1 = 1000,0000 - v800000

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

3 0

4 years ago

True or false?

Sidana [21]

Answer:

The statement is: True.

Explanation:

If we have been given an assignment, it is important to set a schedule of activities to ensure that the final form of our work is delivered on or before the <em>due date</em>, if possible. In the way, there could be problems of various types -for example, technology when delivering a report- that could interrupt our work. Therefore, it is important to consider those risks while scheduling so that we have a contingency plan that will not impact our research and the date we will deliver it.

8 0

3 years ago