I need help with accounting Meridian Manufacturing is developing direct labor standards. Thebasic direct labor wage rate is $14.75 per hour. Employment taxesare 7.5% of the basic wage rate. Fringe benefits are $3.50 per directlabor hour. The standard rate per direct labor-hour should be:a. $7.61b. $19.35c. $14.75d. $18.25

Step 1: Definition of Standard Rate per Direct Labor HourThe Standard Rate per Direct Labor Hour is…

Answered: Meridian Manufacturing is developing…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 9EB: The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method,...

See similar textbooks

Similar questions

Please give me answer accounting
Theresa Corporation, which manufactures baskets, is developing direct labor standards. The basic direct labor rate is $21 per hour. Payroll taxes are 15% of the basic direct labor rate, while fringe benefits such as vacation and health care insurance, are $8 per hour. What is the standard rate per direct labor hour? A. $21 B. $24.15 C. $32.15 D. $ 29
A company is setting its direct materials and direct labor standards for its leading product. Direct material costs from the supplier are $8.00 per square foot, net of purchase discount. Freight−in amounts to $0.10 per square foot. Basic wages of the assembly line personnel are $12.00 per hour. Payroll taxes are approximately 24% of wages. How much is the direct labor cost standard per hour? (Round your answer to the nearest cent.) A. $14.88 B. $2.88 C. $12.00 D. $22.88
A company is setting its direct materials and direct labor standards for its leading product. Direct materials cost from the supplier are $7 per square foot, net of purchase discount. Freight−in amounts to $0.40 per square foot. Basic wages of the assembly line personnel are $17 per hour. Payroll taxes are approximately 20% of wages. Benefits amount to $4 per hour. How much is the direct materials cost standard per square foot? A. $21.00 B. $7.00 C. $28.00 D. $7.40
A worker is paid the day-work rate if she earns less than 100% incentive premium. The standard is 75 units per hour, and the operator completes 140 good parts in 1.4 hours. The wage rate is $25/hour. Find the piece rate. What are the earnings and labor efficiency?
The chief estimator has asked you to determine the average hourly cost for equipnent operators using the information below.. The plan is to work 48 hours per week (8 hours Monday - Saturday). Overtime is paid for over 40 hours at a rate of Tirme and a half. Base Wage - $22.00 per hour Social Security Tax - 7.65% Unermployment Compensation Tax - 2.75% Worker Compensation Insurance $32.00/100 Public liability/Property Damage Insurance $3.10/100 Fringe Benefits $6.25 per hour
For a table manufacturing company, variable cost is $125.00 per Unit, rent is $2,544.00 per month and insurance is $1,095.00 per month. Selling price for a table is $200.00 per Unit, How much is the company contributing to covering their fixed costs or generating profits? Submit
Maestro Co. employs a salesperson whose salary is $2,000 per month. Once the monthly sales exceed $40,000, the salesperson receives the commission of 5% of the sales made. Which of the following Cost Behavior Patterns describe the salesperson’s salary the most? Question 7Select one: a. Variable costs b. Fixed costs c. Semivariable costs d. Step costs
I want answer
A.Prepare Statement of Income and Expenses with a marginal contribution approach. Empresas La Torre presents the following information for the year ended December 31, 2020: Product Costs: Direct materials (Variables) $ 50.00 per unit Direct Labor (Variable) $ 20.00 per hour Variable Indirect Costs $ 10.00 per hour Total Fixed Indirect Costs $ 250,000 Period Expenses Seller Commissions $ 20.00 per unit Variable Administrative Expenses $ 30.00 per unit Total Fixed Administrative Expenses $ 150,000 The company sells solar batteries at $ 200.00 per unit. Making each battery takes 2 hours of direct labor. The company taxes its income at 40%. If the Company sells 10,000 units, prepare a statement of income and expenses using the marginal contribution approach.
naru
What is the contribution margin ratio for yountz company?

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS