Labor data for making one gallon of the finished product in Nien Company are as follows: 1. Price-hourly wage rate $13.80, payroll taxes $0.80, and fringe benefits $1.50. 2. Quantity-actual production time 1.1 hours, rest periods and clean up 0.30 hours, and set up and downtime 0.40 hours. Compute the following. a. Standard direct labor rate per hour. b. Standard direct labor hours per gallon. Standard labor cost per gallon.
Q: Help
A: Given:Sales = 1,990 unitsSelling price = $63Total fixed expenses = $64,000Variable expenses = 42% of…
Q: Mendenhall Corp constructed a building at a cost of 14,000,000. Weighted average accumulated…
A: Concept of Weighted Average Accumulated ExpendituresWeighted average accumulated expenditures…
Q: D.P. May has a net income of $44,000, total assets of $442,000, total liabilities of $211,000, and a…
A: The question requires the determination of the price-earnings ratio. The price-to-earnings (P/E)…
Q: During 2017, Vaughn Manufacturing had sales on account of $828,000, cash sales of $465,000, and…
A: Explanation of Credit Sales:Credit sales refer to sales made on account where the customer is…
Q: Please give me correct answer this general accounting question requirements
A: Step 1: Define Predetermined Overhead RateThe predetermined overhead rate is calculated before the…
Q: Accounting question
A: Step 1: Define Treasury Stock Purchase Impact on Stockholders' EquityWhen a company repurchases its…
Q: Solution for this High -Low method financial accounting sum
A: Explanation: As per high-low method, the variable cost per unit is calculated using the following…
Q: What is the effective cost of trade credit under the credit terms of 2/15, net 40? Assume 365 days…
A: The question requires the determination of the effective cost of trade credit. The effective cost of…
Q: I want to this question answer general Accounting
A: Step 1:Calculate the fixed overhead for the units sold as follows:Fixed overhead = (Beginning…
Q: Right answer
A: To determine the number of pounds of direct materials used, we use the formula for direct materials…
Q: Correct answer please
A: Explanation of Direct Materials Used:Direct materials used refer to the raw materials that are…
Q: Tag. General Account
A: To determine total liabilities and stockholders' equity, we use the accounting equation:…
Q: Please provide answers
A: Explanation of Raw Materials: Raw materials are the basic materials purchased by a company to use in…
Q: General accounting question
A: E(Ri)=Rf+βi⋅(E(Rm)−Rf)Where:E(Ri): Expected return on the stockRf: Risk-free rateβi: Beta of…
Q: Calculate fixed assets
A: Explanation of Statutory Merger: A statutory merger is a type of business combination where one…
Q: The FY 2016 beginning Work in progress inventory
A: Explanation of Total Manufacturing Costs (TMC):Total Manufacturing Costs (TMC) represent the total…
Q: Allocotade corporate overhead:90000
A: Segment contribution margin = Segment sales revenue - Segment variable costs Segment variable costs…
Q: Accounting problem
A: Step 1: Formula for MCEThe formula to calculate Manufacturing Cycle Efficiency (MCE)…
Q: hi teacher please help me with General accounting question
A: Step 1: DefinitionFace Value (FV): The amount paid to the bondholder at maturity ($15,000).Current…
Q: Answer. General Account
A: Correct Answer: f. Assets increase; Owners' equity increase Explanation:When an owner makes a…
Q: The contribution margin ratio is calculated as how? a) Gross margin divided by sales b) Operating…
A: Explanation of Contribution Margin Ratio:The Contribution Margin Ratio is the percentage of sales…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Cash ReceiptsCash receipts are the total amount of money received by a company…
Q: Please given correct answer general accounting
A: Step 1: Formula Shareholders' equity = Total assets - Total liabilities Step 2: Substitution…
Q: If the after tax income is different, why ??? General accounting
A: A. Assuming 2010 tax rates of 15% on dividends and capital gains:Option 1: Sell the stockCapital…
Q: Assume the following (quantity of materials purchased = quantity of materials used): Standards:…
A: Step 1:First calculate the actual quantity: Material price variance = (Actual price - Standard…
Q: Question
A: To determine the beginning work in process (WIP) balance for Neji Company, we use the formula for…
Q: Pasadena Candle Inc. budgeted production of 62,400 candles for the year. Each candle requires…
A: Explanation of Direct Labor Cost Budget:The direct labor cost budget estimates the total cost of…
Q: Jessup Company expects to incur overhead costs of $20,000 per month and direct production costs of…
A: Concept of Overhead Costs:Overhead costs refer to the indirect costs associated with running a…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Return on Equity (ROE)ROE (Return on Equity) measures a company's…
Q: Target costing calculate cost as?
A: Explanation of Target Costing: This is a strategic pricing method that starts with determining the…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Equity Method for Investment AccountingThe equity method is used to account…
Q: A standard cost: a. is the "true" cost of a unit of production. b. is a budget for the production of…
A: Option a: This option is incorrect because standard cost is not a true cost of production. The…
Q: I want to correct answer general accounting question
A:
Q: Accounting 89
A: Concept of Net IncomeNet income is the profit a company earns after deducting all expenses,…
Q: None
A: The problem pertains to the determination of the selling price using the profit margin ratio. Profit…
Q: That issue interim financial statements ?
A: Definition of Interim Financial Reporting:Interim financial reporting refers to the preparation and…
Q: I need answer
A: Step 1:Under the installment sales method of revenue recognition revenue is recognized when the cash…
Q: Bats, Inc. manufactures one type of baseball bat which requires a specific type of metal. During the…
A: Step 1: Key Information from the ProblemActual production: 5,000 batsActual quantity of metal used…
Q: What is the effective cost of trade credit under the credit terms of 2/15, net 40? Assume 365 days…
A: Effective Cost of Credit = (Discount%/(1-Discount%))*(365/(Credit Period-Discount Period)) Effective…
Q: General accounting
A: Step 1: Define Budgeted Amounts and Standard Cost per Unit1Budgeted Amounts:The budgeted amounts are…
Q: Subject:- General Account
A: Explanation:Debt Finance: Refers to borrowing money that must be repaid with interest. It creates a…
Q: Financial accounting question
A: Step 1: DefinitionDiscount Terms (3/15, net 60):This means a 3% discount is available if payment is…
Q: Financial Accounting
A: Step 1: Determine the original cost of the equipmentStep 2: Subtract the accumulated…
Q: Sub. General Account
A: FIFO (First-In, First-Out)The FIFO inventory method means that the earliest (first) inventory…
Q: Alden, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total…
A: b) Determine Alden's over- or under-applied overhead for March:Step 1: Calculate applied overhead…
Q: Help
A: Definitions Related to the Question:1. Asset Retirement Obligation (ARO):An Asset Retirement…
Q: Subject: Financial Accounting 1
A: Concept of Current Assets:Current assets are short-term resources that a company expects to convert…
Q: General accounting MCQ 3 pts
A: Option a: This option is incorrect because the learning curve concept suggests that unit costs…
Q: The book values and fair values of fixed assets of these two companies
A: Explanation for a: In this case, we are required to calculate the value of consolidated fixed assets…
Q: None
A: Step 1: Define Shareholders' EquityShareholders' equity is the owner's fund, which is invested by…
General Account
Step by step
Solved in 2 steps
- Rocks Industries has two products. They manufactured 12,539 units of product A and 8.254 units of product B. The data are: Â What is the activity rate for each cost pool?Labor data for making one pound of finished product in Khalil Co. are as follows: (1) Price-hourly wage rate $11.00, payroll taxes $1.95, and fringe benefits $1.25. (2) Quantity-actual production time 1.25 hours, rest periods and clean up 0.25 hours, and setup and downtime 0.15 hours. Instructions Compute the following. (a) Standard direct labor rate per hour. (b) Standard direct labor hours per pound. (c) Standard cost per pound.Labour data for making one unit of finished product in Waterway Company are as follows: (1) Price-hourly wage rate $10.00, payroll taxes $0.80, and fringe benefits $1.60. (2) Quantity-actual production time 1.40 hours, rest periods and cleanup 0.50 hours, and set-up and downtime 0.40 hours. Calculate the following: (Round calculations and final answers to 2 decimal places, e.g. 15.25.) a. Standard direct labour rate per hour $enter a dollar amount rounded to 2 decimal places b. Standard direct labour hours per unit enter a number of hours rounded to 2 decimal places hours c. Standard labour cost per unit Senter a dollar amount rounded to 2 decimal places
- DomesticHH Electric reports the following information. Direct labor rate Non-materials-related overhead Materials-related overhead Target profit margin (on both conversion and direct materials) a. Compute the time charge per hour of direct labor. b. Compute the materials markup percentage. c. What price should the company quote for a job requiring four direct labor hours and $600 in materials? a. Time charge per hour of direct labor b. Materials markup c. Time and materials price $ 45 per DLH $ 25 per DLH 5% of direct materials cost 20% %A Company establishes the following standards for the costs of one unit of its product. The standard production overhead costs per unit are bascd on direct-labor hours. Calculation for standard per unit cost is as follows: Std Cost Std Qty 3.00 kg | Direct Material Direct Labor Variable Overhead Fixed Overhead* |Total *based on practical capacity of 20,000 direct-labor hour per month Std Price/Rate $ 8.25 per kg $ 10.00 per hour $ 10.00 per hour $ 7.50 per hour 24.75 $ 20.00 2.00 hour $ 20.00 2.00 hour 15.00 2.00 hour 79.75 During December 2020, the Company purchased 30,000 kg of direct material at a total cost of $246,000. The total wages for December were $260,000, 75% of which were for direct labor. The Company manufactured 9,500 units of product during December 2020, using 28,400 kg of the direct material purchased in December and 18,900 direct-labor hours. Actual variable and fixed overhead cost were $200,000 and $150,000, respectively. The scheduled production for the month was…
- VishGiven the following information, determine the product cost of one unit: Direct Materials = $60: Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. O $70 per unit O $80 per unit O $78 per unit $85 per unitThe standard labor rate is $8 per hour. Standard labor allowed per unit is 0.6 hours. The actual cost per labor hour is $7.5 and the actual labor hour per unit is 0.7 hours. What is the standard labor cost per output unit? a. $4.8 b. $5.6 c. $4.5 d. $5.25
- The following direct labor information pertains to the manufacture of Granny: Time required to make one unit - 2 DL hrs; Number of direct labor workers - 50 workers; number of productive hours per week, per worker - 40 hours; weekly wages per worker - P500; Workers' benefits treated as DL costs - 20% of wages. What is the standard direct labor cost per unit of product Granny?Bramble Company accumulated the following standard cost data concerning product I-Tal. Direct materials per unit: 3.0 pounds at $4.50 per pound Direct labor per unit: 8.6 hours at $15.00 per hour Manufacturing overhead: Allocated based on direct labor hours at a predetermined rate of $22.50 per direct labor hour Compute the standard cost of one unit of product I-Tal. (Round answer to 2 decimal places, e.g. 2.75.) Standard cost $ I Per UnitGiven the following information, determine the product cost of one unit: Direct Materials = $60; Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. a. $70 per unit b. $80 per unit c. $78 per unit d. $85 per unit Contribution margin is sales less: a. Fixed overhead and fixed selling and administrative expenses b. Variable Cost of goods sold and variable selling & administrative expenses c. Variable selling and administrative expemses and Fixed selling and administrative expenses d. variable cost of goods sold An investment generates an operating income of $100,000, and the average operating assets are $400,000. What is the return on the investment? a. 100% b. 75% c. 25% d. 20%