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lys-0071 [83]
2 years ago
5

Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is a

pplied at the rate of 75% of direct labor costs. Winter Company's total manufacturing costs for the year was _________.
Business
1 answer:
raketka [301]2 years ago
7 0

Answer:

Winter Company's total manufacturing costs for the year was $850,000

Explanation:

Manufacturing cost is the cost used to manufacture a product, both direct and indirect cost incurred in manufacturing process are included. It is the total value of material cost, labor cost and overhead cost.

Direct Material Cost = $500,000

Manufacturing overhead applied = $150,000

As we know Manufacturing overhead applied was 75% of direct Labor cost.

Direct Labor cost  = Manufacturing overhead applied / 75%

Direct Labor cost  = 150,000 / 75% = $200,000

Total Manufacturing Cost = $500,000 + $200,000 + $150,000 = $850,000

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Betsy owned a speedboat that was not operating correctly. She hired Gail, a mechanic, to determine what needed to be repaired or
Alchen [17]

Answer:

Betsy should simply tell the truth: that the boat was actually inspected by two mechanics, but not only it was not repaired, but both mechanics had a very different diagnosis about what was wrong with the boat.

She should also warn the buyer that the boat likely needs at least a new fuel pump, and in case the diagnostic of the first mechanic (Gail) is true, the boat then would likely need an expensive repair.

4 0
2 years ago
Jerry has an insurance policy with a premium of $150 per month. In June, he’s in an accident and receives a bill with a total co
I am Lyosha [343]

Answer:

Amount Jerry owe in June = $2,650

Explanation:

Given:

Premium per month = $150

Total cost (Accident) = $6,000

Deductible amount = $1,500

Coverage limit = $4000

Amount Jerry owe in June = ?

Computation of amount Jerry owe :

Amount Jerry owe in June = Coverage limit - Deductible amount + Premium per month

Amount Jerry owe in June = $4,000 - $1,500 + $150

Amount Jerry owe in June = $2,500 + $150

Amount Jerry owe in June = $2,650

4 0
2 years ago
Frederick W. Taylor is speaking to a friend about scientific management. Which of the following statements might Frederick say?
zvonat [6]

Answer:

(A) The best way to increase your workers' productivity is to study their movements carefully. Figure out the fastest way to get the job done correctly, and then train all of the employees to do it the same way.

(B) Are you promoting people just because you like them? Try having managers make promotion decisions solely on the basis of a person's technical ability to do the work.

Explanation:

<em>Scientific Management theory</em> laid out by <em>Frederick W. Taylor</em> focuses on <em>effective (best) and efficient (less costly)</em> way of getting the work done.

(1) Statement A focuses on <em>motion and time studies</em> respectively.

In <em>motion studies</em>, we are concerned with elimination of unnecessary movements and activities required to perform a job. For eg, in order to manufacture 100 packets of biscuits, 5 processes are required but the processes currently used are 10, so 5 processes must be eliminated in order to save time and costs.

<em>Time studies</em> implies setting up time for performing a particular work activity. The time must be same for all the workers and could be based on the past factory time data of the activity. For eg, an average time per worker can be calculated for the activity taking into consideration the total time spent by total no. of workers on a particular work activity.

(2) Statement B focuses on promoting the persons based on their technical ability to do the work.

<em>Differential piece wage system</em> of F.W. Taylor applies perfectly to this statement. It prescribes paying workers as per the work done by them. For eg, a worker producing 15 units of a good per day would be paid $ 12 a unit, let's suppose and the worker producing less than that would be paid $ 10 a unit. So, the workers producing 15 and more units of a good, have higher technical ability with respect to the production of that good and hence, higher pay. The workers producing less than 15 units have lower technical ability and hence lower pay.

(3) Statement 3 relates to the administrative principle of "Unity of Command" laid out by Henry Fayol and hence, is not the solution statement.  

4 0
1 year ago
Katherine is selecting colors for the background and the text on her web page. What aspect of color theory should she pay attent
Elena-2011 [213]
The answer is contrast. Hope it helps! :)
5 0
1 year ago
Read 2 more answers
A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equ
stiks02 [169]

Answer:

1. $16,350

2. Debit Inventory writeoff (p/l)   $1,650

   Credit Inventory                       $1,650

3. This adjustment will reduce the value of the total assets by $1,650. The total expense will also increase by the same amount thus reducing the net income.

Explanation:

According to IAS 2 inventories which is the accounting standard for Inventories under IFRS, Inventory should initially be recognized at the cost (which includes the cost of the item and other associated cost such as freight).

However, it is required that subsequently, inventory would be measured at the lower of cost or net realizable value. When the cost is higher than the net realizable value, the cost of the inventory will be written down by

Debit Inventory write-off (p/l)

Credit Inventory

Inventory                 Quantity        Cost            NRV        New Amount

Shirts                            35              $60            $70              $60

Mega Driver                 15               $360          $250           $250

Mega Driver II              30              $350           $420          $350

Of all the items , only Mega driver has a cost higher than NRV and the adjustment required amounts to

= (360 - 250) * 15

= $1,650

Ending inventory using the lower of cost and net realizable value.

= (35 * 60) + (15 * 250) + (30 * 350)

= $16,350

Adjustment required

Debit Inventory writeoff (p/l)   $1,650

Credit Inventory                       $1,650

This adjustment will reduce the value of the total assets by $1,650. The total expense will also increase by the same amount thus reducing the net income.

4 0
2 years ago
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