Connect Access Card For Fundamental Accounting Principles
Connect Access Card For Fundamental Accounting Principles
24th Edition
ISBN: 9781260158526
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 25, Problem 15E
To determine

Direct Labor Rate

For any production facility there are three major heads of costs which includes direct labor, direct material and overheads. Direct Labor rate is the rate at which the labor of the factory is paid against each hour that they contribute for production.

Requirement 1:

The rate per hour of direct labor used at HH Auto Repairs.

To determine

Material Markup:

The material mark-up is defined as the loaded profit margin on the base material cost charged by the company on the products sold by them.

Requirement 2:

The material mark up for HH auto repairs.

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Sharon Mars, a recent graduate of Bell's accounting program, evaluated the operating performance of Carla Vista Company's six divisions. Sharon made the following presentation to Carla Vista's board of directors and suggested the Percy Division be eliminated. "If the Percy Division is eliminated," she said, "our total profits would increase by $25,300." The Other Five Divisions Percy Division Total Sales $1,663,000 $100,900 $1,763,900 Cost of goods sold 978,400 76,500 1,054,900 Gross profit 684,600 24,400 709,000 Operating expenses 528,500 49,700 578,200 Net income $156,100 $(25,300 ) $130,800 In the Percy Division, cost of goods sold is $60,100 variable and $16,400 fixed, and operating expenses are $29,100 variable and $20,600 fixed. None of the Percy Division's fixed costs will be eliminated if the division is discontinued. Is Sharon right about eliminating the Percy Division? Prepare a schedule to support your answer. (Enter negative amounts using either a negative sign preceding…
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Connect Access Card For Fundamental Accounting Principles

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