Use the following data to answer the question.Inputs of Labor Total Product01234567The average product (AP) when seven units of labor are hired isMultiple ChoiceOO-3.01022364858666318.

The objective of the question is to calculate the average product (AP) when seven units of labor are…

Answered: Use the following data to answer the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From the below given data, which cost has no relationship with the level of output? Type of cost Amounts (OMR) Total cost 6,000 Variable costs 4,000 Semi variable costs 1,000 Fixed cost 1,000 O a. Variable costs O b. Semi variable costs OC. Total cost Od. Fixed cost
Arntson, Incorporated, manufactures and sells two products: Product R3 and Product NO. The annual production and sales of Product of R3 is 800 units and of Product NO is 500 units. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product R3 Product NO Total direct labor-hours Activity Cost Pools Labor-related Production orders. Order size Direct Labor- Expected Hours Per Production 800 500 The direct labor rate is $20.80 per DLH. The direct materials cost per unit is $276.00 for Product R3 and $280.00 for Product NO. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Overhead Cost Activity Measures DLHS orders MHS Unit 4.0 2.0 Total Direct Labor- Hours 3,200 1,000 4, 200 $ 40,836 64, 650 433, 275 $ 538,761 Expected Activity Product R3 Product No 1,000 3,200 900 500 2,500 3,100…
Using this information from Planters, Inc., what is the cost per unit under absorption costing? Round to the nearest penny, two decimal places. Planters, Inc data Cost Production Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Amount 10,348 units $248 293 103 1,008,619
Average Output Product Marginal Product Labor 10 12 15 52 9. Using the above table, the average product and marginal product when 4 workers are employed are 14 and 13, respectively. 13 and 13, respectively. 13 and 14, respectively. 13 and 9, respectively. 123 45
13. If Job Q included 30 units, what was its unit product cost?
Question 1 Answer: Question 2 a Total Manufacturing Costs: Variable Fixed Factory Overhead Total Cost Per Unit b Markup Percentage % Seling Price
Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
Maglie Company manufactures two video game consoles: handheld and home. The handheld consoles are smaller and less expens than the home consoles. The company only recently began producing the home model. Since the introduction of the new product. profits have been steadily declining. Management believes that the accounting system is not accurately allocating costs to products particularly because sales of the new product have been increasing Management has asked you to investigate the cost allocation problem. You find that manufacturing overhead is currently assigned to products based on their direct labor costs. For your investigation, you have data from last year. Manufacturing overhead was $1,366,000 based on production of 340.000 handheld consoles and 89,000 home consoles. Direct labor and direct materials costs were as follows. Direct labor Materials Handheld $1,294, 500 790,000 Cost Driver Number of production runs Quality tests performed Shipping orders processed Total overhead…
10. Determine difference between the three methods used for allocating factory overhead cost to products.
Labor Output 11 18 4 23 26 According to the above table, what is the average product of labor when three laborers are employed? 3. 4 5 6. O000

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Use the following data to answer the question. Inputs of Labor Total Product 0 1 2 3 4 5 6 7 The average product (AP) when seven units of labor are hired is Multiple Choice O O -3. 0 10 22 36 48 58 66 63 18.