DARA'S SHOP Number of Workers Total Revenue per Day 1 $200 2 $320 3 $400 4 $460
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DARA'S SHOP
Number of Workers |
Total Revenue per Day |
---|---|
1 | $200 |
2 | $320 |
3 | $400 |
4 | $460 |
Assume that the daily wage of a worker at Dara's Shop is $100 and that labor is the only cost of production at the shop. To earn the largest profit, how many workers should Dara hire?
A. 1
B. 2
C. 3
D. 4
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- Q3. Joe's Tax Service prepares tax returns for low-to middle-income taxpayers. Its service operates January 2 through April 15 at a counter in a local grocery store. All jobs are classified into one of three categories: standard, multiform, and complex. Following is information for last year. Also, last year, the fixed cost of rent, utilities, and so forth were $50,000. Standard Multiform Complex Billing rate $60 $125 $250 Average variable costs (30) (75) (150) Average contribution margin $20 $50 $100 Number of returns prepared 1,750 600 350 (a.) Determine Joe's break-even dollar sales volume. Product , Weighted Selling Price , Weighted Contribution Margin Standard Multiform Complex Total Contribution margin ratio: Break-even sales volume: (b.) Determine Joe's margin of safety in sales dollars.Q#2 The ASF Corporation manufactures one product and accounts for costs by a job orders cost system You have obtained the following information for the year ended December 31 2010 from the Corporations books and records Total manufacturing cost added during 2010 was 1,000,000 Cost of goods manufactured was 970,000 Factory overhead was applied to work in process inventory at 80% of direct labor (applied factory overhead for the year 27% of the total manufacturing cost) Beginning work in process inventory January 1 was 80% of ending work-in – process inventory December 31 Required 1. Prepare a formal statement of cost good manufacturedProblem 2–39Inventory Estimates; Partial Data On April 12, after the close of business, Singh & Sons had a devastating fire that destroyed the company’s work-in-process and finished-goods inventories. Fortunately, all raw materials escaped damage because materials owned by the firm were stored in another warehouse. The following information is available:Sales revenue through April 12....................................................................... $330,000Income before taxes through April 12.............................................................. 68,000Direct labor through April 12............................................................................. 120,000Cost of goods available for sale, April 12...................................................... 275,000Work-in-process inventory, January 1............................................................... 21,000Finished-goods inventory, January 1.................................................................…
- Q : 1 Calculate the labour “cost to company” of JP Mthembu for the week ended 13 July 2019.Q : 2 Suppose the expected labour cost of all the employees for the week was R150 000. It is possible that it may be reduced to R130 000 if overtime is avoided but due to productivity issues the cost could increase to R160 000.Calculate the expected labour cost using three-point cost estimating. INFORMATIONJP Mthembu is employed by Solar Manufacturers in Project P. The following are his wage details for the week ended 13 July 2019:Hours worked : Sunday - 4hoursMonday to Thursday - 8 hours:Friday - 9 hours:Saturday - 5 hoursPension fund: employee’s deduction - 7.5 of normal hoursPension fund: employer’s contribution - 9% of normal wagesUnemployment insurance fund: employee’s deduction - 1% of gross wageUnemployment insurance fund: employer’s contribution - 1% of gross wageRemuneration during normal working hours - R150 per hourNormal working week (Monday to Friday) - 8 hours per…In the equation Y = P4,000 + P3X; Y is the cost of workers' compensation insurance and X is direct labor hours. According to this equation, a 100-hour change in total direct labor hours will change the cost of workers compensation insurance by A. P4,000. B. P 300. C. P4,300. D. none of the above amounts.ILLUSTRATION 2: N Stock of Finished Goods January 1st 12,660 December 31st 17,845 Stock of Raw Materials: January 1st 8,040 December 31st 7,160 Sales 464,000 Office rent 2,625 Office rates 1,000 Purchases of Raw Materials 95,000 Carriage Inward on Raw Materials 2,355 Manufacturing wages 132,150 Factory expenses 9,140 Depreciation: Plant and Machinery 16,250 Delivery vans 3,125 Stock of Work in Progress: January 1st 4,370 December 31st 4,735 Factory Fuel 9,175 Advertising 2,585 Van running expenses 11,575 Salesmen's Commission 3,565 Maintenance of factory equipments 54,000 Lighting (3/5 factory) (2/5 office) 40,000 Salaries (factory 7,500) 25,000 Insurance (factory 16,000) 22,400 The following shows the figures extracted from the books of Ojolo, a manufacturer for the yer ended 31st December, 2009. You are required to prepare the Manufacturing, Trading, Profit and Loss account for the year ended 31st December, 2009
- Problem 2–39 On April 12, after the close of business, Singh & Sons had a devastating fire that destroyed the company’s work-in-process and finished-goods inventories. Fortunately, all raw materials escaped damage because materials owned by the firm were stored in another warehouse. The following information is available: Sales revenue through April 12........................................................................ $330,000 Income before taxes through April 12 ............................................................. 68,000 Direct labor through April 12........................................................................... 120,000 Cost of goods available for sale, April 12........................................................ 275,000 Work-in-process inventory, January 1 ............................................................. 21,000 Finished-goods inventory, January 1 ............................................................... 37,000 Gross…Ay 1. Please show me the step by step and the formula Question 1: Keri Weinberg earns both $10/hour, $10 for every sale of Product A, and $14 for every sale of Product B. During the most recent week, she worked 54 hours and sold 26 units of Product A and 41 units of Product B. Question 2: Samuel Worthy earns both $7.25/hour and a 10% commission on all sales. During the most recent week, he worked 42 hours and made total sales of $11,000.Pay Level Garments Produced Rate per Garment1 1—50 $2.602 51—100 $3.253 101—150 $3.504 Over 150 $4.10 Calculate last week's total gross pay (in $) for employee "Goodrich, P." who produced 105 garments.
- Ch. 3 MG Homework Saved Help Save & Exit SubmitThe following four companies use a process cost system:Required:Treating each case independently, find the missing amount solana co. vista.co Ray Inc. Lindsay company conversion cost ? 235200 56350 ? direct labor 43000 ? 25300 13300 depreciation 2400 17400 ? 1500 manufacturing overhead 25500 143600 ? ? rent 16100 ? 10100 830 direct materials 89100 362050 39600 17050 supervisors salary 5200 19450 2700 1900 utilities ? 34200 8850 630Problem 2–41 Determine the missing amounts in each of the following independent cases. Case A Case B Case C Beginning inventory, raw material ...................................... ? $20,000 $15,000 Ending inventory, raw material ........................................... $90,000 ? $30,000 Purchases of raw material .................................................... 100,000 85,000 ? Direct material ..................................................................... 70,000 95,000 ? Direct labor .......................................................................... ? 100,000 125,000 Manufacturing overhead ...................................................... 250,000 ? 160,000 Total manufacturing costs.................................................... 520,000 345,000 340,000 Beginning inventory, work in process ................................ 35,000 20,000 ? Ending inventory, work in process ...................................... ? 35,000 5,000 Cost of goods…Q2 Oman Chromite manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $ 12,800 and two jobs in process: Job No. 439, $ 8000 and Job No. 440, $ 4,800. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 439 $10,000 $7,600 440 14,000 12,000 441 17,600 $41,600 30,400 $50,000 General use 3,200 4,800 $44,800 $54,800 Oman Chromite manufacturing applies manufacturing overhead to jobs at an overhead rate of 90% of direct labor cost. Job No. 439 is completed during the month. Instructions (a) Prepare summary journal entries on May 31 to record: (i) the requisition slips, (ii) the time tickets, (iii) the assignment of manufacturing overhead to jobs, and (iv) the completion of Job No. 439. (b) Post the…