Business, 06.12.2021 21:30 jflakes406
Concord Company has gathered the following information about its product.
Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.80 pounds. Materials cost $2 per pound, but Concord always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound.
Direct labor. Each unit requires 2.10 hours of labor. Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Concord’s employees is $13.20. Payroll taxes and fringe benefits are an additional $2.20 per hour.
Manufacturing overhead. Overhead is applied at a rate of $4.80 per direct labor hour.
Compute Concord’s total standard cost per unit. (Round answer to 2 decimal places, e. g. 1.25.)
Total standard cost per units $ .
Answers: 2
Business, 22.06.2019 10:30
On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?
Answers: 2
Business, 22.06.2019 13:30
On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?
Answers: 3
Business, 22.06.2019 14:40
In the fall of 2008, aig, the largest insurance company in the world at the time, was at risk of defaulting due to the severity of the global financial crisis. as a result, the u.s. government stepped in to support aig with large capital injections and an ownership stake. how would this affect, if at all, the yield and risk premium on aig corporate debt?
Answers: 3
Business, 22.06.2019 16:30
On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.
Answers: 1
Concord Company has gathered the following information about its product.
Direct materials: Each u...
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