FUNDAMENTALS OF COST ACCOUNTING
6th Edition
ISBN: 9781266742040
Author: LANEN
Publisher: MCG
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Textbook Question
Chapter 2, Problem 43E
Basic Concepts
The following data refer to one year for Monroe Fabricators. Fill in the blanks.
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Group worksheets for Rosie’s Flowers Quarters 1-4 and calculate the following: REVENUE, COSTS, NET INCOME (net income=revenue-costs). Costs are 40% of revenue, as referenced in cell B9.
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A mortgage service office has the following four activities involved in approving a loan application.
Note that a working day is 8 hours and there are 60 minutes in one hour.
Activity
A Property survey
B. Credit report
C. Title search
D. Final decision
Time (minutes)
24
37
27
37
Activities B and C are combined together and assigned to two employees, while the other two
employees are responsible for activities A and D respectively. What is the mortgage office's direct
labor utilization (DLU) under this setting?
Numbers only (eg.. 0.445 is acceptable, but NOT 44.5%), keep three decimals if not exact, either round up
or down is ok
Chapter 2 Solutions
FUNDAMENTALS OF COST ACCOUNTING
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