Answer:
reduce
decrease
Explanation:
As a result of the new law, the cost of hiring labour would increase. This would lead to a reduction in the demand for labour. This decrease is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded
There would be a leftward shift of the demand curve. This would lead to a fall in equilibrium price and quantity
A school realizes that they need a new copy machine for their main office. The copy machine costs $4,500. After speaking with the financial advisor, they decide to pay 10% of the cost of the machine in cash and finance the rest through their credit union. How much is their monthly payment if the credit union will charge 2% per year compounded monthly for 2 years
Answer:
The monthly payment is $172.29
Explanation:
The computation of the monthly payment is shown below:
Given that
NPER = 2 × 12 = 24
RATE = 2% ÷ 12 = 0.1666%
PV = $4,500 - $4500 × 10% = $4,050
FV = 0
The formula is given below:
= PMT(RATE,NPER,PV,FV,TYPE)
After applying the above formula
The monthly payment is $172.29
Pronghorn Corporation shipped $20,800 of merchandise on consignment to Gooch Company. Pronghorn paid freight costs of $2,200. Gooch Company paid $550 for local advertising, which is reimbursable from Pronghorn. By year-end, 57% of the merchandise had been sold for $22,300. Gooch notified Pronghorn, retained a 10% commission, and remitted the cash due to Pronghorn.Prepare Pronghorn's entry when the cash is received. (Round answers to 0 decimal places, e.g. 1,525. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Date Account Title Debit Credit
Year end Cash $19,520
Advertising expenses $550
Commission expenses $2,230
Revenue from Consignment $22,300
Cost of Goods sold $13,110
Inventory on Consignment $13,110
Cash received by Pronghorn:
= Cash - Advertising - Commission
= 22,300 - 550 - (10% * 22,300)
= 22,300 - 550 - 2,230
= $19,520
Cost of Goods sold:
= 57% * (Value of goods + Shipping)
= 57% * (20,800 + 2,200)
= $13,110
An Internet company located in Southern California has season tickets to the Los Angeles Lakers basketball games. The company president always invites one of the six vice presidents to attend games with him, and claims he selects the person to attend at random. One of the six vice presidents has not been invited to attend any of the last seven Lakers home games.
Required:
What is the likelihood this could be due to chance?
Answer:
27.91%
Explanation:
We are told that the company president invites one of the six vice presidents to attend the games with him. Thus, probability of a vice president getting invited is;
P(vice president invited) = 1/6
Now, we are told that One of the six vice presidents was not invited to attend any of the last seven Lakers home games.
Thus, the likelihood this could be due to chance is;
(1 - 1/6)^(7) = (5/6)^(7)
This gives; 0.2791 or 27.91%
Lewis Company has employed a bookkeeper who is inexperienced. On December 29, after reviewing the records for the year, you discover the following error. On June 1, Lewis Company paid a supplier $300 on account. The bookkeeper recorded this by debiting Cash for $300 and crediting Accounts Payable for $300.
Required:
Prepare a correcting entry on December 26.
Answer:
See below
Explanation:
With regards to the above, wrong entry was;
Cash a/c Dr $300
................................ To Accounts payable Cr $300
However, the correct entry shid have been;
Accounts payable Dr $600
..............................To Cash $600 Cr
(Being an amount paid by Lewis company to a supplier)
Supplies expenses Dr $300
................To Cash $300
Presented below is a condensed version of the comparative balance sheets for Ravensclaw Corporation for the last two years at December 31.
2019 2018
Cash $230,100 $101,400
Accounts receivable 234,000 240,500
Investments 67,600 96,200
Equipment 387,400 312,000
Accumulated Depreciation-Equipment (137,800 ) (115,700 )
Current liabilities 174,200 196,300
Common stock 208,000 208,000
Retained earnings 399,100 230,100
Additional information:
Investments were sold at a loss of $13,000; no equipment was sold; cash dividends paid were $39,000; and net income was $208,000.
Required:
Create a Statement of Cash Flows for 2019.
Answer:
Ravensclaw Corporation
Statement of Cash Flows for the year ended December 31, 2019:
Net income $208,000
Add non-cash expense:
Depreciation expense 22,100
Loss from sale of investment 13,000
Cash from operations $243,100
Adjustments of working capital:
Accounts receivable $6,500
Current liabilities -22,100
Net cash from operations $227,500
Investing activities:
Cash from investment sale 15,600
Equipment -75,400
Financing activities:
Cash dividends paid -39,000
Net cash flows $128,700
Explanation:
a) Data and Calculations:
2019 2018 Differences
Cash $230,100 $101,400 +$128,700
Accounts receivable 234,000 240,500 -$6,500
Investments 67,600 96,200 -$28,600
Equipment 387,400 312,000 +$75,400
Accumulated Depreciation-
Equipment (137,800) (115,700) +$22,100 Depreciation Exp.
Current liabilities 174,200 196,300 -$22,100
Common stock 208,000 208,000 $0
Retained earnings 399,100 230,100 +$169,000
Cash dividends +$39,000
Net income = $208,000 ($169,000 + $39,000)
Cash from sold investments = $15,600 ($28,600 - $13,000)
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What’s the anti-money laundering (AML)
program ?
Answer: An anti-money laundering (AML) program is a set of procedures designed to guard against someone using the firm to facilitate money laundering or terrorist financing.
Explanation:
Remsco has taxable income of $73,000 and a charitable contribution limit modified taxable income of $78,500. Its charitable contributions for the year were $8,020. What is Remsco's current-year charitable contribution deduction and contribution carryover (assuming Remsco does not elect to use the 25% of modified taxable income to determine its charitable contribution deduction)
Answer:
$7,850 and $170
Explanation:
The computation of the Remsco's current-year charitable contribution deduction and contribution carryover is given below:
The deduction is limited to 10% of the modified taxable income i.e.
= $78,500 × 10%
= $7,850
And, the carryover amount is
= $8,020 - $7,850
= $170
Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $260,000, and budgeted direct labor hours were 20,000. The average wage rate for direct labor is expected to be $25 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow:
Job 39 Job 40 Job 41 Job 42
Beginning balance $23,700 $34,600 $17,000 $0
Materials requisitioned 18,900 21,400 8,350 12,000
Direct labor cost 10,000 18,500 3,000 2,900
Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 120 percent of cost. (Naranjo had originally developed Job 40 to order for a customer; however, that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the customer worked out its financial difficulties. Job 40 is the only job in Finished Goods Inventory.) Jobs 41 and 42 remain unfinished at the end of the month.
Required:
a. Calculate the overhead rate based on direct labor cost.
b. Set up a simple job-order cost sheet for all jobs in process during June.
Answer:
Naranjo Company
a. The overhead rate = $0.52 or 52%.
b. Job-order Cost Sheet:
Job 39 Job 40 Job 41 Job 42 Total
Beginning balance $23,700 $34,600 $17,000 $0 $75,300
Materials requisitioned 18,900 21,400 8,350 12,000 60,650
Direct labor cost 10,000 18,500 3,000 2,900 34,400
Overhead applied 5,200 9,620 1,560 1,508 17,888
Total production costs $57,800 $84,120 $29,910 $16,408 $188,238
Explanation:
a) Data and Calculations:
Budgeted overhead for the year = $260,000
Budgeted direct labor hours = 20,000
Direct labor rate = $25 per hour
Total budgeted direct labor cost = $500,000 ($25 * 20,000)
Predetermined overhead rate, based on direct labor cost
= $260,000/$500,000 * 100 = 52% or $0.52
Job Sheet:
Job 39 Job 40 Job 41 Job 42 Total
Beginning balance $23,700 $34,600 $17,000 $0 $75,300
Materials requisitioned 18,900 21,400 8,350 12,000 60,650
Direct labor cost 10,000 18,500 3,000 2,900 34,400
Overhead applied 5,200 9,620 1,560 1,508 17,888
Total production costs $57,800 $84,120 $29,910 $16,408 $188,238
Applied Overhead:
Job 39: $10,000*52% = $5,200
Job 40: $18,500*52% = $9,620
Job 41: $3,000*52% = $1,560
Job 42: $2,900*52% = $1,508
Sales revenue $69,360 ($57,800 * 120%)
Cost of goods sold $57,800
Finished goods inventory $84,120
Work in progress inventory $29,910 $16,408
Why do you look like dababy?
Answer:
nah i am dababy if you try to be me again i will turn you into a convertible
Explanation:
Sarah is working on the layout of a company newsletter. What should she keep in mind?
Answer:
should understand deeply to put well the newsletter in approximately file card so as to avoid misplace and disappear of potential file.
Bruce Corporation makes four products in a single facility. These products have the following unit product costs:
Products
A B C D
Direct materials $16.10 $20.00 $13.00 $15.70
Direct labor 18.10 21.50 15.90 9.90
Variable manufacturing overhead 4.90 6.10 8.60 5.60
Fixed manufacturing overhead 28.00 14.90 15.00 17.00
Unit product cost 67.10 62.50 52.50 48.20
Additional data concerning these products are listed below.
Products
A B C D
Grinding minutes per unit 2.25 1.35 0.95 0.55
Selling price per unit $81.20 $73.60 $70.40 $65.10
Variable selling cost per unit $3.10 $3.60 $3.30 $4.00
Monthly demand in units 3,500 2,500 2,500 4,500
The grinding machines are potentially the constraint in the production facility. A total of 10,500 minutes are available per month on these machines. Direct labor is a variable cost in this company.
Required:
Which product makes the MOST profitable use of the grinding machines?
Answer:
Product D
Explanation:
Calculation to determine Which product makes the MOST profitable use of the grinding machines
First step is to calculate the Variable cost per unit
Products
A B C D
Direct materials $16.10 $20.00 $13.00 $15.70
Add Direct labor 18.10 21.50 15.90 9.90
Add Variable manufacturing overhead 4.90 6.10 8.60 5.60
Add Variable selling cost per unit $3.10 $3.60 $3.30 $4.00
Variable cost per unit $42.20 $51.60 $40.80 $35.20
Now let calculate the product that makes the MOST profitable use of the grinding machines
Selling price per unit $81.20 $73.60 $70.40 $65.10
Less Variable cost per unit $42.20 $51.60 $40.80 $35.20
=Contribution margin per unit $39 $22 $29.60 $29.90
÷Grinding minutes per unit 2.25 1.35 0.95 0.55
=Contribution per grinding minutes $17.33 $16.30 $31.16 $54.36
Therefore Based on the above calculation the product that makes the MOST profitable use of the grinding machines is PRODUCT D because it has the highest Contribution per grinding minutes of the amount of $54.36
leases telecommunications equipment from Photon Company. Assume the following data for equipment leased from Photon Company. The lease term is 5 years and requires equal rental payments of $31,000 at the beginning of each year. The equipment has a fair value at the commencement of the lease of $150,000, an estimated useful life of 8 years, and a guaranteed residual value at the end of the lease of $15,500. Photon set the annual rental to earn a rate of return of 6%, and this fact is known to Callaway. The lease does not transfer title or contain a bargain purchase option, and is not a specialized asset.
Required:
How should Callaway classify this lease?
Answer:
Financial lease
Explanation:
The computation is shown below:
The Present value of minimum lease payments is
= Present value of rental payments + Present value of GRV
= $31,000 × Cumulative PV factor at 6% for 5 periods of annuity due + $15,500 × PV Factor at 6% for 5th period
= $31,000 × 4.46511 + $15,500 × 0.79209
= $138,418 + $12,277
= $150,695
Since the lease payments present value would be more than 90% of the fair value so it would be classified as the financial lease
In Year 1, Lobo Corp. reported for financial-statement purposes the following revenue and expenses that were not included in taxable income:
Premiums on officers' life insurance under which the corporation is the beneficiary $5,000
Interest revenue on qualified-state or municipal bonds $10,000
Estimated future warranty costs to be paid in Year 2 and Year 3 $60,000
Lobo's enacted tax rate for the current and future years is 30%. Lobo has paid income taxes of $170,000 for the three-year period ended December 31, Year 1. There were no temporary differences in prior years. The deferred tax benefit to be applied against current income tax expense is:_________
a. $21,000
b. $19,500
c. $18,000
d. $22,500
Answer: $18,000
Explanation:
Interest from municipal bonds is tax free and will therefore result in a permanent difference along with the premium on officers' insurance.
Temporary difference will arise from the estimated future warranty costs to be paid in Year 2 and 3 and this will be a tax benefit because they will only be recognized in Year 2 and 3 but have already been recognized by the tax authority:
= 60,000 * 30%
= $18,000
Which organization would you work best in, an organically or mechanistically structured one, and why?
Answer:
i dont know
Explanation:
Dominant religions in certain parts of the world have an effect on entrepreneurship as well as religious ethics pertaining to the cost of doing business.
a. True
b. False
Answer:
a. True
Explanation:
Religion can be defined as a collection of ritu-als and shared beliefs that are typically inclined or hin-ged on a sacred realm.
There are different types of religion practiced across the world and these includes; Islam, Christianity, Buddhism, Hinduism, etc.
Dominant religions in certain parts of the world have an effect on entrepreneurship as well as religious ethics pertaining to the cost of doing business.
This ultimately implies that, emphasis on ethics and values taught by these dominant religions usually have an effect on the followers, as they express it in the various areas of their lives such as in business (entrepreneurship).
A company had the following partial list of account balances at year-end: Sales returns and allowances $ 500 Account Receivables 9,000 Sales Discount 700 Sales Revenue 57, 200 Selling and Administrative Expense 300 The amount of net sales reported on the income statement would be:
Answer:
$56,000
Explanation:
The computation of net sales is shown below.
For the net sales reported, we'll add the sales revenue and deduct the sales return and allowances with sales discount
Net sales reported = Sales revenue - sales return and allowance - sales discount
= $57,200 - $500 - $700
= $56,000
Muecke Inc. is working on its cash budget for April. The budgeted beginning cash balance is $40,000. Budgeted cash receipts total $150,000 and budgeted cash disbursements total $158,000. The desired ending cash balance is $50,000. To attain its desired ending cash balance for April, the company needs to borrow: Group of answer choices $18,000 $0 $50,000 $82,000
Answer:
See
Explanation:
Garland Inc. offers a new employee a single-sum signing bonus at the date of employment, June 1, 2021. Alternatively, the employee can receive $44,000 at the date of employment plus $15,000 each June 1 for four years, beginning in 2024. Assuming the employee's time value of money is 9% annually, what single amount at the employment date would make the options equally desirable
Answer: $84,902.17
Explanation:
Find the present value of the $44,000 and the $15,000 each June for 4 years.
First find the present value of the $15,000 in June 2024:
= 15,000 * Present value interest factor of Annuity due, 4 years, 9%
= 15,000 * 3.5313
= $52,969.50
Then present value it to 2021:
= 52,969.50 / (1 + 9%)³
= $40,902.17
Add this to the $44,000 on June 2021:
= 44,000 + 40,902.17
= $84,902.17
Employee will be indifferent if $84,902.17 is received.
Cornerstone Exercise 6-21 Recording Sales Transactions Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April:
a. On April 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10, n/30. The selling price of the merchandise was $3,100, and the cost of the merchandise sold was $2,225.
b. On April 1, Mathis paid freight charges of $250 cash to have the goods delivered to its warehouse.
c. On April 8, Mathis returned $800 of the merchandise which had originally cost Reece $500.
d. On April 10, Mathis paid Reece the balance due.
Required: Prepare the journal entries to record these transactions on Reece's books. Assume that Reece uses the net method to record sales on account. For a compound transaction, if an amount box does not require an entry, leave it blank. April 1 Accounts Receivable 3,038 Sales Revenue 3,038 (Recorded sale on account) April 1 Cost of Goods Sold 3,100 Inventory 3,100 x (Recorded cost of merchandise sold) April 8 Sales Revenue 3,100 Accounts Receivable 3,100 x (Recorded return of merchandise)
Answer:
April 1
Dr Accounts Receivable $3,100
Cr Sales $3,100
April 1
Dr Cost of Goods Sold $2,225
Cr Inventory $2,225
April 8
Dr Sales Returns and Allowances $800
Cr Accounts Receivable $800
April 8
Dr Inventory $500
Cr Cost of Goods Sold $500
April 10
Dr Cash $2,254
Cr Sales Discount $46
Cr Accounts Receivable $2,300
Explanation:
Preparation of the journal entries to record these transactions on Reece's books
April 1
Dr Accounts Receivable $3,100
Cr Sales $3,100
(Recorded sale on account)
April 1
Dr Cost of Goods Sold $2,225
Cr Inventory $2,225
(Recorded cost of merchandise sold)
April 8
Dr Sales Returns and Allowances $800
Cr Accounts Receivable $800
(Record return of merchandise)
April 8
Dr Inventory $500
Cr Cost of Goods Sold $500
(Recorded cost of merchandise returned)
April 10
Dr Cash $2,254
($2,300-$46)
Cr Sales Discount $46
($2,300*2%)
Cr Accounts Receivable $2,300
($3,100-$800)
(Received customer payment within)
Burgundy, Inc., and Violet are equal partners in the calendar year BV LLC.
Burgundy uses a fiscal year ending April 30, and Violet uses a clean year.
Burgundy receives an annual guaranteed payment of $100,000 for use of capital contributed by Burgundy.
BV's taxable income (after deducting the payment to Burgundy, Inc.) is $80,000 for 2016 and $90,000 for 2017.
1. What is the amount of income from the LLC that Burgundy must report for its tax year ending April 30, 2017?
2. What is the amount of income from the LLC that Violet must report for her tax year ending December 31, 2017?
Answer: a. $141667
b. $45000
Explanation:
1. What is the amount of income from the LLC that Burgundy must report for its tax year ending April 30, 2017?
Guaranteed payments = $100,000
Share of 2016 income = ($80000 × 50% × 8/12) = $80000 × 0.5 × 0.67 = $26667
Share of 2017 income = ($90000 × 50% × 4/12) = $15000
Income = $100000 + $26667 + $15000
= $141,667
2. What is the amount of income from the LLC that Violet must report for her tax year ending December 31, 2017.
This will be the share of 2017 income which will be:
= 50% × $90000
= 0.5 × $90000
= $45000
Wattan Company reports beginning inventory of 14 units at $42 each. Every week for four weeks it purchases an additional 14 units at respective costs of $43, $44, $47, and $52 per unit for weeks 1 through 4. Compute the cost of goods available for sale and the units available for sale for this four-week period. Assume that no sales occur during those four weeks.
Answer:
$3192
70
Explanation:
the cost of goods available for sale = (14 X 42) + (14 X 43) + (14 X 44) (14 X 47) + (14 X 52) = $3192
14 X 5 = 70
Most effective bad-news messages contain a variety of components. Indirect bad-news messages contain the following components in this order: greeting, buffer, rationale for the bad news, the bad news, an expression of concern, an explanation of impacts on the bad-news recipients, possible solutions and a focus on the future, an expression of goodwill, and a closing.
Assume that you manufacture and sell exercise equipment. A customer recently purchased an elliptical from you. He sent a message requesting the replacement of a broken pedal. The parts warranty is for three months. The customer's message was sent to you four months after the purchase, so the warranty is no longer in effect. You will write a message to him denying his claim.
Match each of the options below to the items.
a. Closing
b. Concern
c. Rationale
d. Buffer
e. Bad News
f. Greeting
g. Possible Solutions
h. Focus on the Future
1. Since it's been four months since your purchase. the broken pedal is no longer under warranty.
2. We know it's inconvenient while your elliptical is not in use, and we'd like to help you get your pedal replaced as quickly as possible.
3. Match each of the options above to the items below.
4. Since it's been four months since your purchase, the broken pedal is no longer under warranty.
5. We know it's inconvenient while your elliptical is not in use, and we'd like to help you get your pedal replaced as quickly as possible.
6. Best wishes, Jenny Peterson
Answer:
1. Since it's been four months since your purchase. the broken pedal is no longer under warranty. ⇒ BAD NEWS.
This will fall under the Bad News because it is news that the customer would not want to receive.
2. We know it's inconvenient while your elliptical is not in use, and we'd like to help you get your pedal replaced as quickly as possible.⇒ CONCERN.
Falls under concern because it expresses sympathy at the customer's situation.
6. Best wishes, Jenny Peterson ⇒ CLOSING
This falls under Closing because such salutations are used to end a letter or response.
You have acquired a new CT scanner at a cost of $750,000. You expect to perform 7,000 procedures per year over the estimated 5-year life of the scanner. Assuming no salvage value and an annual increase in replacement cost of 10 percent, what capital charge per procedure should the hospital levy to provide for replacement cost in the second year
Answer:
The capital charge per procedure that the hospital should levy to provide for replacement cost in the second year is:
= $64.82 per procedure.
Explanation:
a) Data and Calculations:
Cost of CT Scanner = $750,000
Annual increase in replacement cost = 10%
Estimated useful life of the scanner = 5 years
Number of procedures per year over the estimated 5-year life = 7,000
Total number of procedures = 35,000 (7,000 * 5)
Replacement cost in 2 years = $750,000 * FV factor
= $750,000 * 1.21
= $907,500
Amount to charge per procedure = $907,500/14,000
= $64.82
Which of the following would be considered a subtopic for a mind map?
uses
social media
photo sharing
blogging
Among the given terms, "uses" is most likely to be a subtopic for a mind map. Hence, the correct option is A.
A mind map is a visual tool that is used to organize and connect information in a hierarchical and organized way. It is often used to help generate ideas, plan projects, and solve problems. Among the given answers, options b, c and d could be used as main heading depending on topic. Uses is more likely to be a subtopic.
Therefore, the ideal selection is option A.
Learn more about, mind maps, here:
https://brainly.com/question/30403888
#SPJ1
Esquire Comic Book Company had income before tax of $1,750,000 in 2021 before considering the following material items:
1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $415,000.
2. The division generated before-tax income from operations from the beginning of the year through disposal of $650,000. The company incurred restructuring costs of $80,000 during the year.
Required:
Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%.
Answer:
Net income = $1,548,750
Explanation:
The 2021 income statement for Esquire can be prepared as follows:
Esquire Comic Book Company
Income Statement
For the Year Ended 20201
Details $ $
Income from continuing operations
Operating income 1,750,000
Restructuring costs (80,000)
Income from continuing operations 1,830,000
Income (loss) from discontinued operation
Loss on disposal of discontinued operation (415,000)
Income from discontinued operation 650,000
Net income (loss) from discontinued operation 235,000
Income before tax 2,065,000
Income tax expense (25% * 2,065,000) (516,250)
Net income 1,548,750
credit default swap definition.
Answer:
a financial contract whereby a buyer of corporate or sovereign debt in the form of bonds attempts to eliminate possible loss arising from default by the issuer of the bonds. This is achieved by the issuer of the bonds insuring the buyer’s potential losses as part of the agreement. if that makes sense.
Suppose a monopolist is producing a level of output such that MR > MC. Which of the following best describes what will happen as the firm moves to its profit-maximizing equilibrium? A) Marginal revenue will rise and marginal cost will fall. B) Marginal cost and marginal revenue will both rise. C) Marginal revenue will fall and marginal cost will rise. D) Marginal cost and marginal revenue will both fall.
Answer: C) Marginal revenue will fall and marginal cost will rise.
Explanation:
The profit-maximizing equilibrium is the production point where the Marginal Revenue equals the Marginal cost.
As the monopolist moves towards this point, they will see their marginal costs increase because they will be producing more goods.
For a monopolist to sell more goods however, they will need to reduce their prices. This means that Marginal revenue will come down.
Marginal revenue will keep decreasing and Marginal cost will keep increasing until both of them become equal to each other.
Which bank deals with short term of credit A. Agricultural bank B. Comersial bank C. Industrial Bank D. None of these
Answer:
B) commercial bank
Explanation:
i hope it helps you :)
Bruce Corporation makes four products in a single facility. These products have the following unit product costs: Products A B C D Direct materials $ 14.40 $ 10.30 $ 11.10 $ 10.70 Direct labor 19.50 27.50 33.70 40.50 Variable manufacturing overhead 4.40 2.80 2.70 3.30 Fixed manufacturing overhead 26.60 34.90 26.70 37.30 Unit product cost $ 64.90 $ 75.50 $ 74.20 $ 91.80 Additional data concerning these products are listed below. Products A B C D Grinding minutes per unit 3.90 5.40 4.40 3.50 Selling price per unit $ 76.20 $ 93.60 $ 87.50 $ 104.30 Variable selling cost per unit $ 2.30 $ 1.30 $ 3.40 $ 1.70 Monthly demand in units 4,100 4,100 3,100 2,100 The grinding machines are potentially the constraint in the production facility. A total of 53,700 minutes are available per month on these machines. Direct labor is a variable cost in this company. How many minutes of grinding machine time would be required to satisfy demand for all four products
Answer:
59,120 minutes
Explanation:
Computation of total minutes of grinding machine time required to satisfy the demand for all products:
Products Minutes per unit Demand (Units) Total Minutes Required
A 3.90 4100 15990
B 5.40 4100 22140
C 4.40 3100 13640
D 3.50 2100 7350
Total minutes required 59,120