Instructions: Enter your answers as whole numbers. Marginal Product Marginal Revenue Product Workers Output/Hour 20 4. 20 10 35 3 15 45 The hourly wage for workers is $16. Assuming workers must be hired in increments as shown on the table, Fairly Decent Industries will keep hiring workers until it has workers, but no more.

Q: 3. Last year, Bagger Company had sales revenue of $1,250,000, direct materials of $280,000, direct…

A: Cost of goods sold = Direct material + Direct labor + Overhead            = 280,000 + 310,700 +…

Q: Mazoon Company has information on its revenue and costs is as follows: Selling price per unit $120;…

A: Selling price per unit: It is the price paid to acquire a product in the outside market. Variable…

Q: he amount of labor hours available to Actaltz, SRL in the production of products X and Y amount to…

A: Cost-Volume-Profit analysis or the (CVP) analysis is one of the techniques that is used in cost…

Q: abor data for making one pound of finished product in Khalil Co. are as follows: (1) rice-hourly…

A: The standard rates are the estimated cost as expected by the company for further production.

Q: Costs are often classified in several ways. For example, Lake Company pays $5,000 rent each monthon…

A:

Q: A) Write short note with one word or one sentence for the following – Straight piece rate pay,…

A: Since we answer only three sub-parts, we shall answer first three. Please resubmit a new question…

Q: b) Green Tea’s data show the following information for the financial year, beginning July 2020:…

A: Production budget includes the number of units to be manufactured by estimating a forecast for sales…

Q: A firm makes a ceramic vases for a chain of department store. The output plus cost figures are…

A: Labor productivity measures output productivity based on per labor hour. Business can increase the…

Q: Calculate: A. Find the missing information in the above table. Some values may not be applicable,…

A: “Since you have asked multiple question, we will solve the first 3 question for you. If youwant any…

Q: Star Limited, a management consultancy firm, has operating hours fluctuate from week to week. Its…

A: Cost behavior expresses the relationship between level of activity and the total cost associated.…

Q: The following data related to labor is available for Sunland Repair Shop for 2019: Repair…

A: We will calculate labor cost by dividing the total cost by estimated labor hours

Q: Tutorial software tester Autumn Watts is paid by the day either on a piecework basis or at an hourly…

A: Rate per problem tested $1.50 Rate per hour $10.20 Whichever is higher.

Q: Based on the table, determine the direct labor cost for the first month production (MPS) using a…

A: Direct labor costs include all costs incurred on paying to the employees in consideration of service…

Q: he following information for the past year for the Magic Corporation has been provided: Fixed costs:…

A: Contribution margin refers to a gross or per unit basis. it shows that the incremental money is…

Q: Using cost behavior patterns MFG Company experiences the following cost behavior patterns each…

A: Cost: It can be defined as the total amount that is spent by a business in manufacturing a product.

Q: Mazoon Company has information on its revenue and costs is as follows: Selling price per unit $125;…

A: The contribution margin is the percentage of total contribution to total sales amount. Contribution…

Q: Due to a strike in the plant of one of its competitors, demand for the company's products far…

A: There  is a limiting factor is every production process of a company, such limiting factor is called…

Q: MCO Manufacturer uses a standard costing system and the following information belongs to the…

A: Standard direct labor cost per unit = Standard hours per unit x Standard labor rate per hour where,…

Q: Refer to the following wage breakdown for a garment factory. Hourly Wages Number of Employees $4 up…

A: The question is based on the concept of the frequency distribution of the cost. The frequency…

Q: The management wants you as an executive of the company to estimate the amount of total wages from…

A:

Q: Adams Company is a manufacturing company that has worked on several production jobs during the first…

A: Job order costing: Job order costing is one of the methods of cost accounting under which cost is…

Q: Rock Creek Bottling Company pays its production manager a salary of $6,000 per month. Salespersons…

A: Cost can be classified into two main categories i.e fixed and variable costs. The fixed cost remains…

Q: Dreckman Corporation is a service company that measures its output by the number of customers…

A: Fixed expenses do not change with the change in the level of production or sales volume. These…

Q: A  factory has fixed monthly costs of $32,000.  Each product costs $6 in variable costs.  During the…

A: a) Computation of profit per item:

Q: National manufacturing firm pays wages using Taylor's differential piece rate system. Standard time…

A: The Numerical has covered the concept of the Taylor Differential Piece Rate System. In this system,…

Q: The following data related to labor is available for Bramble Repair Shop for 2019: Repair…

A: Labor charge per hour means the total cost incurred related with labor divided with total number of…

Q: From the following information, calculate the incomes of employees X and Y under the straight bit…

A: Straight piece rate system is the easiest method of payment by result in which payment is according…

Q: Using job order costing in a service company Roth Accounting pays Jack Smith $90,000 per…

A: Job order costing is a method used for assigning the cost of manufacturing to a product. The direct…

Q: uppose, Wage rate:$25/hr Standard of production: 5 units/hr Work shift: 10 hrs/day Work week: 6 days…

A: Wages are paid to workers either on a time-rate basis or on a piece-rate basis.  The time-rate basis…

Q: management. What was the actual rate paid per direct labor hour in July? Round your answer to the…

A: Step -1 Find Standard Direct Labor Rate Per Hour Direct Labor Efficiency Variance = (SH − AH) × SR…

Q: Ardhi Company Ltd is considering the type of remuneration scheme to adopt for its employees. The…

A: 1. Earnings using Basic guaranteed hourly rates = Actual Hrs. worked* Basic hourly rate of pay 2.…

Q: Suppose that Larimer Company sells a product for $20. Unit costs are as follows: Direct…

A:

Q: "For each of the cost items described below, choose the graph (see next page) that best represents…

A: The question is based on the concept of Business Transaction Analysis.

Q: Given Manufacturing Company produces a variety of products. The firm operates 24 hours per day with…

A: Total wages would comprise of basic wages plus premium paid.

Q: A manufacturing company supplies 6645 products to construction job sites. The average monthly fixed…

A: Break-even point is the point which lets the company know how much units or revenue must be earned…

Q: b) Green Tea's data show the following information for the financial year, beginning July 2020: July…

A: Production budget includes the number of units to be manufactured by estimating a forecast for sales…

Q: ompute for the total cost per month using costing labor cost by the given data Compute for the…

A: Statement showing total cost per month Particulars Amount Amount Monthly…

Q: Data     Units   Per unit   Relevant?   Sales price per unit…

A: Nothing is free, nothing has value and to create the value there incurs costs to manufacture the…

Q: Adams Company is a manufacturing company that has worked on several production jobs during the first…

A: Gross profit: Gross profit is a profit for a company arrived after deducting cost associated with…

Q: APPLY THE CONCEPTS: Prepare a contribution margin income statement Assume that you are part of the…

A: Income statement is prepared with a view to ascertain the net income of an entity by deducting total…

Q: Suppose that the company sold all of its completed jobs, adding 40% mark up on its cost. How much is…

A: Prime cost means the addition of direct material and direct labor and other direct expenses.…

Q: Calculate the earnings of workers, A, B and C under Merrick’s differential piece rate system from…

A: In Merrick's differential piece rate system, If worker efficiency is up to 83% is paid at basic wage…

Q: HH Auto Repair reports the following information for the coming year Labor rate, including fringe…

A: Labor rate per hour is the charge of labor for one hour of work. Markup is the additional amount…

Q: Howard Cooper, the president of Campbell Computer Services, needs your help. He wonders about the…

A: A pro forma income statement can be used by startups to generate a fictitious approximation of their…

Q: Hico Bottling Company pays its production manager a salary of $5,000 per month. Salespersons are…

A: Option a is the answer

Q: Mazoon Company has information on its revenue and costs is as follows: Selling price per unit $175;…

A: Total variable costs = direct materials + direct labor + manufacturing overhead selling costs…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.