BUSINESS COLLEGE

The delivered equipment cost for setting up a production and assembly line for two-way floating ball valves is $650,000. If the direct cost and indirect cost factors are 1.82 and 0.31, respectively, and only the direct cost factor applies to delivered equipment cost, the total plant cost estimate is approximately:a. $ 2,034,500b. $ 2,401,230c. $ 2,684,500d. $ 2,983,000

Answers

Answer 1
Answer:

Answer:

$2,034,500 ; A

Explanation:

In this question, we are asked to calculate cost estimate.

One of the methods which we can use to do this is the cost factor technique.

Mathematically, the estimated total cost will be;

Ct = hCe

Where Ce refers to cost at major equipment and h is the overall cost factor.

From the question, we can identify the following;

Ce is $650,000 while h = 1.82 + 1 + 0.31 = 3.13

Inputing these values in the formula, we have;

Ct = $650,000 * 3.13 = $2,034,500
Answer 2
Answer:

Answer:

a) 2, 034,500

Explanation:

the explanation is given in the file attached

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Your boss at Xiangling Hu Products, Inc., has just provided you with the schedule and lead times for the bracket in Problem 3. The unit is to be prepared in week 10. The lead times for the components are bracket (1 week), base (1 week), spring (1 week), clamp (1 week), housing (2 weeks), handle (1 week), casting (3 weeks), bearing (1 week), and shaft (1 week).a) Prepare the time-phased product structure for the bracket. b) In what week do you need to start the castings?

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,100. During the month, it was assigned the following costs: direct materials, $77,100; direct labor, $25,100; and factory overhead, 70% of direct labor cost. Also, inventory with a cost of $114,500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:a.$16,370.

b.$113,300.

c.$83,839.

d.$198,339.

e.$68,970.

Answers

Answer:

a.$16,370.

Explanation:

beginning WIP cost:      11,100

cost added during the period

materials                       77,100

direct labor                  25,100

overhead 70% of DL = 17,570

total added                  119,770

Total cost to be accounted for: 130,870

Cost assignned to

transferred out       114,500

ending WIP               16.370‬

Total cost assigned to 130,870

As the cost to be accounted and the cost assigned to should match we contruct that and solve for the ending WIP

The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Department A and on machine-hours in Department B. At the beginning of the year, the Corporation made the following estimates: Department A Department B Direct labor cost $ 60,000 $ 40,000 Manufacturing overhead $ 90,000 $ 45,000 Direct labor-hours 6,000 9,000 Machine-hours 2,000 15,000 What predetermined overhead rates would be used in Department A and Department B, respectively?

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

Department A:

Direct labor cost= $60,000

Manufacturing overhead= $90,000

Department B:

Manufacturing overhead= $45,000

Machine-hours= 2,000

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Department A:

Predetermined manufacturing overhead rate= 90,000/60,000

Predetermined manufacturing overhead rate= $1.5 per direct labor dollar

Department B:

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Which of the following would help reduce the amount of frictional unemployment? Choose one or more: (A) Websites that advertise job openings across the country
(B) government policies to help promote a stagnant economy
(C) providing tax breaks to firms that engage in technological innovations
(D) interviewing a wide variety of candidates to ensure a diverse workforce
(E) government policies to limit outsourcing of jobs

Answers

Answer: Option A

               

Explanation: In simple words, it refers to the unemployment which occurs due to the employees shifting and moving from one job to another. This kind of unemployment is unavoidable and exist in every economy to some extent.

A website that advertises job will be helpful to employees for gaining information and awareness about new openings.

Hence from the above we can conclude that the correct option A.

Final answer:

Frictional unemployment could be reduced by enhancing job visibility, promoting economic growth, and limiting outsourcing. The best options for this are advertising job openings widely, implementing government policies to promote a stagnant economy, and creating policies to limit job outsourcing.

Explanation:

Frictional unemployment refers to the period of time when a worker is searching for, or transitioning from one job to another. It's a natural form of unemployment due to factors like workers' voluntary decisions to change jobs or the time lag involved in finding a new job.

Options (A) Websites that advertise job openings across the country, (B) Government policies to help promote a stagnant economy, and (E) Government policies to limit outsourcing of jobs would help reduce the amount of frictional unemployment. (A) would increase the visibility of job opportunities, enabling job seekers to find new roles more quickly. (B) would stimulate economic growth, creating more job opportunities. (E) would keep jobs within the country, increasing local employment opportunities.

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Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares. Ben sold his shares to Joe for $10,000 on March 31, 1998. The corp. reported a $50,000 loss at the end of 1998.How much of the loss is allocated to Joe?
A. $20,000
B. $15,060
C. $12,500
D. $10,000

Answers

Answer: $15,060

Explanation:

From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.

We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:

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Identify each of the following statements about linear programming problems as true or false, and then justify your answer.a. For minimization problems, if the objective function evaluated at a CPF solution is no larger than its value at every adjacent CPF solution, then that solution is optimal.
b. Only CPF solutions can be optimal, so the number of optimal solutions cannot exceed the number of CPF solutions.
c. If multiple optimal solutions exist, then an optimal CPF solu-tion may have an adjacent CPF solution that also in optimal.

Answers

Answer and Explanation:

a. The given statement is true as the corner point at the objective function should be feasible solution which is no longer as compared with the value for every adjacent CPF solution as compared with its optimal

b. The given statement is false as the solution can be an edge

c. The given statement is true as it shows the direct relation between the two things

Final answer:

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Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 28,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 116,000. Units completed and transferred out: 144,000. Ending Inventory: 31,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $46,000. Costs in beginning Work in Process - Conversion: $51,850. Costs incurred in February - Direct Materials: $316,730. Costs incurred in February - Conversion: $602,150. Calculate the cost per equivalent unit of conversion.

Answers

Answer:

Cost per equivalent unit = 4.015 per unit

Explanation:

Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.

Cost per equivalent unit = cost / total equivalent units

To determine the conversion cost per equivalent unit, we follow the steps below

Step 1

Determine the total equivalent units

Items                         units                                             Equivalent units

Completed units       144,000      144,000× 100%     144,000

Closing inventory      31,500        31,500 × 60% =     18900

Total equivalent unit                                                   162,900

Step 2

Calculate cost per equivalent unit

Cost per equivalent unit = Total conversion cost/Total equivalent units

                                        = (602,150+ 51,850)/162,900 units

                                         = 4.015 per units
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