Your firm is an expert on decentralizedfinance systems and designs training classes.You are required to train a four-session class.From previous experience, 85 percentlearning rate is intact for training sessions. Thefirst session will run 50 hours, billed with arate of 100TL per hour with overhead costs of600TL per session. Considering a profitmargin of 20%, calculate the 1-) total price, 2-)each session price and 3-) the breakevensession

The learning curve formula will be used in this problem. The formula is: TN = T1*(ND) where TN…

Answered: d to train a four-s experience, 85 pe…

Business

Accounting

d to train a four-s experience, 85 pe intact for training run 50 hours, bil

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 15. JKL Company processes lumber up to the split-off point where two products (paper and pend…

A: Sales value at split off point is calculated by multiplying the number of units produced at split…

Q: Assume that the following events occurred at Lakewood, Incorporated last month. a. Incurred direct…

A: Work-in-process inventory, also termed 'WIP inventory' is described as raw material in process or…

Q: The direct materials and direct labour standards for one bottle of Clean-All spray cleaner are given…

A: DIRECT MATERIALS COST VARIANCEDirect materials cost variance is the difference between the actual…

Q: Piper Corporation's standards call for 6,475 direct labor-hours to produce 1,850 units of product.…

A: Standard hours allowed: Multiplying actual number of units with standard direct labor hours per unit…

Q: On 1 January 2019 Planet plc began constructing an item of Machinery, the details of this are:o…

A: Costs associated with the initial acquisition, preparation, and placement of the asset for use…

Q: Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses…

A: Labor rate variance = (standard rate per hour- actual rate per hour)*actual hours Labor efficiency…

Q: Average labor cost for the first 700 units of a product is RO 50 and the average labor cost of first…

A: Learning can be defined as the improvement in the skills, knowledge, or performance of an…

Q: 1. The following information is available for Department A of B Manufacturing Corporation for the…

A: " Since you have posted a question with multiple sub parts, we will provide the solution only to the…

Q: McCallum Tool Company has two departments, assembly and finishing. The assembly department takes…

A: Weighted Average method:In process costing we mainly use two methods namely,the weighted average…

Q: INSTRUCTIONS: Answer ALL the following questions. ப A product is manufactured by passing materials…

A: A. Process A and Process B Accounts**Process A Account**| Particulars | Amount ($)** | Particulars |…

Q: Outdoor Company manufactures camping tents from a lightweight synthetic fabric. Each tent has a…

A: a) Standard Material cost for 1700 tents: = 1700*4*5.25 = $35,700 Actual Material cost for 1700…

Q: 3 kilos at RM 5 per kilo 2 hours at RM 5 per hour RM 5 per labour hour RM 6 per labour hour heen…

A: Absorption costing refers to the process of estimating the cost of a product on the basis of its…

Q: A value stream has three activities and two products. The units produced and shipped per week are 50…

A: ABC costing allocates the cost and overhead on reasonable basis. The cost allocation is more…

Q: Question 5 Golden company just finished its second month of operations. Golden mass-produces…

A: The physical flow of units explain about the units accounted for production.

Q: factory overhead was $42,600. What is the Oa. $322,000 Ob. $149,000 Oc. $42,600 Od. $173,000

A: Conversion costs comprise direct labour and overhead prices incurred as a result of the…

Q: Company B furnished you with the following information with respect to material OXO: Annual…

A: Economic order quantity indicates the number of units to be ordered, So that company can minimize…

Q: Direct materials Direct labor 9.00 pound @ $11.25 per pound 5.40 hour @ $24.00 per hour 1.80 hour @…

A: Calculation of Material Price variance for quantity purchasesMaterial price variance for quantity…

Q: 8 - ABC production company calculates production costs according to the phase cost system. The…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: requl be sic Exercises Obj. 2 On May 7, Bergan Company purchased on account 10,000 units of raw…

A: As you have posted multiple questions, and not clearly mentioned which questions to answer, the…

Q: William Limited manufactures a unique hair oil branded Williamline. The product undergoes two…

A: Process costing is the costing process adopted by the manufacturing industry where a separate…

Q: MODULE 4 ACTIVITY Instruction: Answer the following questions below. You can answer the activity…

A: The following calculations are done for the Cebu Wine factory.

Q: (ii) (iii) (iv) (v) (vi) Factory overhead 50% Rs.21, 600 Received during the month 80,000 units at a…

A: Process costing is particularly applicable for manufacturing companies that produce a large volume…

Q: The manufacturing cycle efficiency is: * , Round off to 2 decimal places; Sample format: 11.11% NUBD…

A: Processing time ( In hours ) = 1,500 minutes 60 minutes = 25 hours Manufacturing cycle time =…

Q: Compute for the equivalent unii of production in each of the following cases: No. of days Gallons…

A: Process Costing: It is the method of costing used to ascertain the cost of a product which passes…

Q: Work in Process, Aug 31 (50% complete as to conversion cost) 175,000 Transferred to next department…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: Activity-based costing uses numerous cost pools and numerous cost drivers. one plantwide pool and…

A: Direct material purchase budget :— This budget is prepared to estimate the number of units and cost…

Q: Petroleum Development Oman planning to setup new exploration unit. For setting the new unit total…

A: Given: New unit total overheads = OMR 500,000 Cost relating to setups = 40% Costs relating to…

Q: Tarptent manufactures camping tents from a light weight synthetic fabric. Assume the company's…

A: The variance is the difference between the actual and standard production costs data. The materials…

Q: Q-3: Following data is pertaining to Assembly department. 8,000 Units beginning; All materials, 50%…

A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but…

Q: The debits to Work in Process-Roasting Department for Morning Brew Coffee Company for August,…

A: Prepare a cost of production report.

Q: 19-Assume that ABC LLC is producing 40000 units of Product A. The direct material cost per unit is…

A: Activity based costing is a costing system in which indirect costs or overheada may be assigned to…

Q: Conversion Costs: $25,000 Conversion Costs Added: $50,000 REQUIRED: Prepare the Process Cost…

A: Process costing is a costing method which is generally used in manufacturing, where the products are…

Q: Required: 1. Compute the following for direct labour a Standard price per kilogram for materials b.…

A: Material Quantity variance 600u Material variance 150…

Q: The number of equivalent units of production for conversion costs for the period was

A: The equivalent units of production which has been completed for the conversion costs is the number…

Q: Required. Compute the direct materials price and quantity variances for the month. (Indicate the…

A: Introduction:- Standard costs are estimates of the actual costs in a company’s production process…

Q: /ext/map/index.html?_con=con&external_browser=0&launchU Direct materials (30 pounds @ $5.10 per…

A: Explanation:Step 1: Calculate actual variable overhead costActual variable overhead cost = Actual…

Q: Only typed solution

A: 1. Materials price variance: Favorable, $750Materials quantity variance: Unfavorable, $1,920 2.…

Q: Q4 The following information pertains to the Moline Facility for the month of May (all materials are…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct…

A: Material price variance = (Standard price - Actual price)*Actual quantity purchased Material…

Q: Question 4: Company prepares a certain product. All materials are added at the beginning of the…

Question

Your firm is an expert on decentralized
finance systems and designs training classes.
You are required to train a four-session class.
From previous experience, 85 percent
learning rate is intact for training sessions. The
first session will run 50 hours, billed with a
rate of 100TL per hour with overhead costs of
600TL per session. Considering a profit
margin of 20%, calculate the 1-) total price, 2-)
each session price and 3-) the breakeven
session

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

(a) The following information relate to 4 employees A,B,C and D. EMPLOYEES. A B C D Actual hours worked 38 36 40 34 Hourly rate of pay K4500 K4320 K4,000 K6,000 Output in units XN 42 120 120 Y Z 72 92 76 270 50 Standard time allowed per unit x 6 minutes y - 9minutes z- 15 minutes Each minute earned is valued at K80 for piece work calculation. You are required to calculate for each employee his earnings using 1) Guaranteed hourly rates only addition to hourly pay. (4 Marks) 2) Piece work, but with earnings guaranteed at 75% of basic pay.(6 Marks) 3) Premium bonus in which the employee received two-thirds of time saved in (4 Marks) (b) B Limited had a staff of 1800 at the beginning of 2012 and owing to series of redundancies caused by the recession, 1200 at the end of the year. Voluntary redundancy was taken by 1500 staff, 300 more than the company anticipated. These excess redundancies were immediately replaced by new employees. (ii) Calculate labour turnover (2 Mark) In relation to…
How to compute the In Process beginning?
4- A company makes production by using Y raw material. The movements of this Y material within the month of April are as follows: (a) April 1, Beginning balance, amount: 8.000 kg, unit price: 20 TL/kg, (b) April 5, Purchase, amount: 12.000 kg, unit price: 25 TL/kg, (c) April 10, Consumption, amount: 10.000 kg, (d) April 15, Purchase, amount: 5.000 kg, unit price: 26 TL/kg, (e) April 20, Consumption, amount: 12.000 kg, (f) April 25, Purchase, amount: 15.000 kg, unit price: 22,20 TL/kg, (g) April 30, Consumption, amount: 8.000 kg. What is raw materials turnover at the end of April if the company employs FIFO? (Note that raw material turnover is calculated as Cost of consumption / Average raw materials) 3,67 O 77,89 3,16 O 87,77
Practice Problem 2 In process Y, 75 units of a commodity were transferred from process X at a cost of RO 1,310. The labour and overhead expenses amounting to RO 190 were incurred. 20 percent of the units entered are normally lost and sold @ RO 4 per unit. The output of the process was 70 units. Prepare process Y Account
18
Shong Company appies overhead based on machne hours. Athe beginning of 20x1. he company estimuted hat manutacturing overhead would be 520.000 and machine hours would tota 20,000. By 20t yearend, actal ovetead ed 4600, and achal machine hous were 2000 On the basis of his normaton he 20xt predemned overhead rate O104 per machine hour 126 per machine hour 121 per machine hour $1.05 per machane hou $22 per machine hour.
Course: Accounting for Decision Making and Control The West Point plan of Walkers Electronics Company has the following standards for component C91: Standards: Material 2 units of material B Material Price $10 per unit of B Direct labor 1 hour Wage rate $10 per direct labour hour Variable support cost rate $25 per direct labour hour Actual results for March Used 4,200 units of B, purchased at $9.75 per unit of B Paid for 2,000 direct labour hours at $11 per hour Incurred $48,000 of variable support costs Manufactured 2,000 units of component C91 Required: Determine any (5) five of following variances for March: Total direct material…
Tri star foot ball manufacturer determine the standard production timefor stitching of a football as 80 minutes. Worker engaged in this operationare classified in the pay scale of 600 dollars per day of 8 hours. During a dayoutput of the four worker were given below. You are required to calculatethe wage of the worker if 100 percent premium is paid for time saved. A…………..9 UNITSB…………..7 UNITSC…………..6 UNITSD…………..5 UNITS
Evaporation is 8% for 20 days processing Compute for the original quantity of each of the ff: 1) 2,940 gals. five days processed 2) 4,840 gals. eight days processed 3) 7,904 gals. three days processed Ref: Cost Accounting, Process Costing
Subject - Acounting