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FinnZ [79.3K]
2 years ago
14

The Work in Process Inventory account had a beginning balance of $16,200 on April 1. During April, the cost of direct materials

used was $408,000 and direct labor cost assigned to production was $56,000. A total of $72,000 of overhead was assigned to production in April. If the cost of finished goods manufactured was $523,500, what was the balance in the Work in Process Inventory account on April 30?
Business
1 answer:
zhenek [66]2 years ago
4 0

Answer:

$28,700

Explanation:

We know that

Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of finished goods manufactured

where,

Total manufacturing cost = cost of direct materials used + direct labor cost + overhead  cost

= $408,000 + $56,000 + $72,000

= $536,000

So, the ending work in process inventory would be

= $16,200 + $536,000 - $523,500

= $28,700

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Answer:

a) Sales volume variance = $1496000 unfavorable

flexible-budget variance = $192000 favorable

b) For direct materials

Price variance = `$135000 unfavorable

efficiency variances = $527920 favorable

For direct manufacturing labor

Price variance = `$36600 unfavorable

efficiency variances = $914815 favorable

Explanation:

a) Sales volume variance = (Actual units sold - Budgeted units sold) x Budgeted price per unit = (4800 - 7000) × $680 = $1496000 unfavorable

flexible-budget variance =  (Actual price - Budgeted price) x Actual units sold= ($720 - $680) × 4800 = $192000 favorable

b) For direct materials

Price variance = (Actual cost - standard cost) x Actual quantity of units purchased = ($5.95/ pound - $8/pound) × 66000 pound= `$135000 unfavorable

efficiency variances = (Actual unit - Standard unit) x Standard cost per unit = (66000 pound - 10 pound) × $8 per pound= $527920 favorable

For direct manufacturing labor

Price variance = (Actual cost - standard cost) x Actual hours = ($48/hour - $50/hour) × 18300 hours = `$36600 unfavorable

efficiency variances = (Actual hours - Standard hours) x Standard cost per hour= (18300 hour - 3.7 hour) × $50/hour = $914815 favorable

4 0
2 years ago
Summer Dean was walking through the mall and found a gym bag lying on the ground. The decision Dean must make as to whether to k
suter [353]

Answer:

Ethics

Explanation:

Ethics also called moral philosophy involves how an individual systemises, defends and recommends the concept of right or wrong.

Summer is facing an ethical decision of either returning the bag or keeping it for herself. Her decision will be based on her definition of right or wrong.

If her moral philosophy is one that does not see theft as something that is wrong, she will decide to keep the bag. If on the other hand she sees keeping the bag that is not her own as wrong she will decide to return it.

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2 years ago
1. How has an understanding of consumer behavior helped Coppertone grow in the United States and around the globe? 2. Describe t
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Answer: The answers are provided below

Explanation:

1. The understanding of consumer behavior which has helped Coppertone grow in the United States and around the world are:

• Its understanding of consumer behavior was along with changing behaviour of consumers.

• Its understanding was along with consumer's changing needs.

• Providing innovative solutions that are in accordance with consumer preferences.

Note that at the beginning, Coppertone started as a tanning product, but later developed nee products when the consumers preferences changed from tanning to skin protection.

2. . The Five stage purchase decision process for a Coppertone customer are:

a. Problem recognition - This is the stage of understanding the problem.

b. Search for information. It is the stage of seeking solution to the problem

c. Comparision of alternatives - This is the stage where the comparative analysis is done. This stage is influenced by the product, price, availability etc.

d. Decision of purchasing - This is the stage of decision making that is based on the comparisons made.

e. Post-purchase feedback - This is the stage whereby the consumer will evaluate the product performance. This stage is vital to retaining existing consumers.

3. The factors that can influence the Coppertone consumer purchase decision process are:

• Psychological: It is the intention of consumers to protect their skin from the sun while going out thereby maintaining their good look.

• Sociological : It is in human behaviour to replicate the things that are being done by other people in the society.

• Situational Factor: This is a case whereby consumers are left with no other alternatives than purchasing a particular product brand to meet their need.

4. The marketing activities Coppertone utilized to help it grow in the marketplace are:

• Advertisment: Coppertone advertisment strategy really worked through its use of the advertisement campaign for “the Coppertone Girl” and also their famous tagline “Tan, Don’t Burn.” This helped spar the product’s popularity.

• Use of social media: They also engage with their customers on social media nd other websites.

5. The challenges that would be faced by Coppertone in the future are:

• There will be an unbalanced demand and supply since the requirement of the product is seasonal.

• Selective usage of the product by the customer can hampers the sale.

• There may be the need for more innovative products in order to meet customer needs.

The recommendation related to each challenges are:

• Awareness should be created among the customers about their self health and looks, in order for them to shift away from seasonal usage.

• New products should be launched aggressively. This is because customers are trendy nowadays and also appealing marketing techniques should be used.

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In my guess there would be about 20
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Global use of cell phones grew rapidly between 1989 and 2000. below is a scatterplot of the percentage of people in the world wh
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Answer:

Explanation:

A)

The regression equation is,

ln(Cell Phone Subscribers) = -820.894 + 0.411704 Year

or,

Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 Year)

For the year 2005,

Percent of Cell Phone Subscribers = exp(--820.894 + 0.411704 * 2005)

= 96.79%

B)

P-value for the significance of the slope is very low (0.000). Thus, the model is statistically significant and the prediction of the model is highly reliable.

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2 years ago
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