Answer:
$73,600
Explanation:
A learning curve is a correlation between a learner's performance on a task and the number of attempts or time required to complete the task; this can be represented as a direct proportion on a graph
The last unit will be 22nd unit .
Using learning curve table ,
Time required to build 22nd unit = 3125.49 hours
labour cost to build 22nd unit ( $20 per hour ) = $20 x $3125.49
labour cost to build 22nd unit = $62509.80
Using learning curve table ,
material and equipment cost to build 22nd unit = $11090.67
Therefore,
total cost to build the last unit = Labour cost + Material and equipment cost total cost to build the last unit = $62509.80 + $11090.67
total cost to build the last unit = $73600.47
Learning rate for labour hours ( L1) = Time for 2nd unit / Time for 1st unit
Learning rate for labour hours ( L1) = 4500/5000
Learning rate for labour hours ( L1) = 0.90
Learning rate for material and equipment usage
Learning rate for material and equipment usage = Material and equipment cost for 2nd item / Material and equipment cost for 1st item
Learning rate for material and equipment usage = 24000/30000
Learning rate for material and equipment usage = 0.80 or 80 %
Answer:
i hope it helps u :)
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs.
Answer:
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs
Answer and Explanation:
According to the scenario, journal entry for the given data are as follows:
(a).
Vacation Pay Expenses A/c Dr. $40,000
To Vacation Pay Payable A/c. $40,000
(Being vacation pay for the period is recorded)
(b).
Pension Expenses A/c Dr. $222,750
To Cash A/c. $185,000
To Unfunded Pension Liabilities A/c $37,750 ( $225,750 - $185,000)
( Being pension benefit for the period is recorded)
a. 2/3 gallon
b. 5/7 gallon
c. 1 1/2 gallons
d. 1 2/5 gallons
of root beer, and Susan's opportunity cost of making a pizza is ?
a. 2/3 gallon
b. 5/7 gallon
c. 1 1/2 gallons
d. 1 2/5 gallons
of root beer.
Who has an absolute advantage in making pizza, and who has a comparative advantage in making pizza?
Answer:
Explanation:
1. Megan takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza.
If she makes a pizza therefore, that is 2 hours that could have been used to make a gallon of root beer. However, it takes 3 hours to make a complete gallon so in those 2 hours only;
= 2/3 gallons would have been made
2. Susan takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza.
Like Megan above, the 5 hours that would be used for Pizza would have gone towards making a gallon of beer. If it takes 7 hours to make a gallon then those 5 hours would have made;
= 5/7 gallons of root beer.
3. Absolute Advantage: Megan
The person with the absolute advantage is the person that can produce more goods with the same amount of costs. Megan can make more pizza in a smaller amount of time than Susan so she has Absolute advantage.
Comparative Advantage: Megan
The person with a Comparative advantage is the one that has the lowest opportunity cost when producing a good. Megan again has a lower opportunity cost with an opportunity cost of 2/3 gallons.
Answer:
$2,000
Explanation:
The cost incurred by an entity during production may be recognized in two groups namely the fixed costs and the variable cost.
While the fixed cost are cost elements that remain constant at a given range of activity levels, the variable cost change as the activity level (that is the units produced) changes.
The rental cost, supervision and depreciation are cost elements that are fixed.
Hence where 5,000 units were produced, budgeted cost for rent is $2,000.
The budgeted cost for rent would remain at $2,000 even if Laramie, Inc. produces 5,000 units. This is because rent falls under fixed costs, which do not vary with the level of production.
The question is asking for the budgeted costs for rent if 5,000 units were produced by Laramie, Inc. Here, it's important to differentiate between variable costs and fixed costs. Variable costs, including labor and raw materials, increase or decrease with output levels; they vary with the number of units produced. Fixed costs, on the other hand, like rent and depreciation, are expenditures that remain constant regardless of the level of production. From the provided data, we can see that the budgeted fixed overhead for rent is $2,000. This cost does not change with the number of units produced. So, even if 5,000 units are produced, the budgeted cost for rent would still be $2,000.
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Answer:
Packaging Solutions Corporation
1. Planning Budget
Direct labor $68,460
Indirect labor $12,500
Utilities $7,200
Supplies $2,980
Equipment depreciation $28,600
Factory rent $8,500
Property taxes $2,700
Factory administration $15,820
2. Flexible Budget
Direct labor $65,200
Indirect labor $12,100
Utilities $7,100
Supplies $2,900
Equipment depreciation $28,100
Factory rent $8,500
Property taxes $2,700
Factory administration $15,700
3. Spending Variances:
Flexible Actual Spending
Budget Budget Variance
Direct labor $65,200 $66,780 $1,580 U
Indirect labor $12,100 $11,680 $420 F
Utilities $7,100 $7,590 $490 U
Supplies $2,900 $3,190 $290 U
Equipment depreciation $28,100 $28,100 $0 None
Factory rent $8,500 $8,500 $0 None
Property taxes $2,700 $2,700 $0 None
Factory administration $15,700 $15,050 $650 F
Explanation:
a) Data and Calculations:
Planned labor-hours in March = 4,200
Actual labor-hours in March = 4,000
Cost Formulas
Direct labor $16.30q
Indirect labor $4,100 + $2.00q
Utilities $5,100 + $0.50q
Supplies $1,300 + $0.40q
Equipment depreciation $18,100 + $2.50q
Factory rent $8,500
Property taxes $2,700
Factory administration $13,300 + $0.60q
Actual Cost Incurred In March:
Direct labor $ 66,780
Indirect labor $ 11,680
Utilities $ 7,590
Supplies $ 3,190
Equipment depreciation $ 28,100
Factory rent $ 8,900
Property taxes $ 2,700
Factory administration $ 15,050
Flexible Budget:
Direct labor $16.30 * 4,000 = $65,200
Indirect labor $4,100 + $2.00 * 4,000 = $12,100
Utilities $5,100 + $0.50 * 4,000 = $7,100
Supplies $1,300 + $0.40 * 4,000 = $2,900
Equipment depreciation $18,100 + $2.50 * 4,000 = $28,100
Factory rent $8,500
Property taxes $2,700
Factory administration $13,300 + $0.60 * 4,000 = $15,700
Planning Budget
Direct labor $16.30 * 4,200 = $68,460
Indirect labor $4,100 + $2.00 * 4,200 = $12,500
Utilities $5,100 + $0.50 * 4,200 $7,200
Supplies $1,300 + $0.40 * 4,200 $2,980
Equipment depreciation $18,100 + $2.50 * 4,200 = $28,600
Factory rent $8,500
Property taxes $2,700
Factory administration $13,300 + $0.60 * 4,200 = $15,820
The problem involves calculating the planning budget, flexible budget, and spending variances for the Production Department of Packaging Solutions Corporation. The planning budget is based on the expected output, the flexible budget adjusts according to actual results, and the spending variances give the difference between budgeted and actual costs.
The question falls under the field of cost accounting in Business studies. Here, we'll need to calculate the planning budget, the flexible budget, and the spending variances for the Production Department of Packaging Solutions Corp.
1. Planning Budget: The planning budget is based on the expected labor-hours and the production output associated with those labor-hours. In this case, the planned labor hours were 4,200.
The flexible budget adjusts the planning budget to reflect actual operational results. The actual hours worked in March were 4,000, which is what we'll use for the flexible budget calculations.
Spending variances are the differences between what was budgeted (either in the planning budget or the flexible budget) and actual results. They can be calculated by subtracting the actual costs from the budgeted costs. This will provide insights into areas where spending was over or under the budgeted amounts.
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