1. On July 6, Zonker Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:
Land $ 400,000 Buildings 1,200,000 Equipment 800,000 Total $2,400,000
Zonker Company gave 12,500 shares of its $100 par value common stock in exchange. The stock had a market price of $168 per share on the date of the purchase of the property.
2. Zonker Company expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building.
Repairs to building $105,000
Construction of bases for equipment to be installed later 135,000
Driveways and parking lots 122,000
Remodeling of offi ce space in building, including new partitions and walls 161,000
Special assessment by city on land 18,000
3. On December 20, the company paid cash for equipment, $260,000, subject to a 2% cash discount, and freight on equipment of $10,500.
Instructions Prepare entries on the books of Zonker Company for these transactions
Answers
Answer and Explanation:
1. Land Dr $350,000 ($12,500 × $100 × $400,000 ÷ $2,400,000)
Building Dr $1,050,000 ($12,500 × $100 × $1,200,000 ÷ $2,400,000)
Machinery and equipment Dr $700,000 ($12,500 × $100 × $800,000 ÷ $2,400,000)
To Common stock ($12,500 × $100) $1,250,000
To Paid in capital in excess of par $850,000
(Being the acquisition is recorded)
2. Building Dr ($105,000 + $161,000) $261,000
Machinery and equipment Dr $135,000
Land improvement Dr $122,000
Land Dr $18,000
To Cash $541,000
(being the cash paid is recorded)
3. Machinery and equipment Dr $256,300 ($260,000 × 98%)
To cash
,(being cash paid is recorded)
Related Questions
Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.)
Answers
Answer:
needs further explanation
Explanation:
Which career advancement tool serves as a collection of various aspects related to your professional life?
A (Blank ) is a collection of your activities, performances, awards, and experiences that relate to your professional life.
Answers
Answer:
Career portfolio
Explanation:
Provide an analysis regarding financial accounting issues about the property, plant and equipment section. ABC follows IFRS.
ABC invested excess cash in raw land in 2014. ABC constructed its manufacturing plant, administrative office, research center on a part of this land. The rest of the land will be sold once market value increases further. The general policy is that property taxes and interest related to vacant land are capitalized as part of the cost of the land. During fiscal 2015, $245,000 was capitalized to land. Amortization for building and equipment uses rates and methods of amortization consistent with those permitted by taxing authorities.
Answers
There are several financial accounting issues related to property, plant, and equipment (PP&E) section of ABC, which follows the International Financial Reporting Standards (IFRS).
What is accounting?Accounting is systematic process of recording, classifying, summarizing, and interpreting the financial transactions to provide relevant information for decision making. It involves collecting financial data from various sources such as bank statements, invoices, receipts, and payroll records, and organizing them into meaningful reports such as balance sheets, income statements, and cash flow statements. Accounting enables businesses to track their financial performance, identify trends, and make informed decisions about budgeting, investments, and operations. Additionally, accounting provides important information to stakeholders such as investors, creditors, and regulatory agencies. Accurate and transparent accounting is essential for the success and stability of any organization, as it enables businesses to manage their resources effectively and make informed decisions for future growth.
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You are hired as a consultant for Skater Boys Incorporated, a firm with over five years
experience in the skate board industry.Due to changing demand and a move to
environmentally friendly products, the company wishes to enter the market with a new ecofriendly finish on its skate boards. Based on your analysis of the company’s operations,
Skater Boys Inc has three main choices. After careful inspection of their current equipment
the company can spend $800 in refurbishment of their old equipment or make major
modifications to its operations at a cost of $1100. If these options are not taken, they can also
choose to purchase new equipment at a cost of $1800.
If the firm chooses to refurbish their existing equipment, materials and labour per skate board
will be $1.10 while a material and labour cost of $0.70 per board is associated with the major
modification choice. If however, the company chooses to buy new equipment, the associated
variable cost is estimated to be $0.40 per board.
You are required to do the following analysis
a. Use one diagram to show the cost associated with each decision.
b. Which alternative should Skater Boys Inc. choose if they think they can sell more than 3000 skate boards? Give an explanation for your answer.
c. Given the economic situation, you have advised Skater Boys Inc that the expected demand will be between 1000 and 2000 skates. Considering this new information, which alternative should the firm use?Is this the same alternative chosen for part (b) and explain why they may be the same or different?
d. If the actual demand for skate boards is 4500, how should Skater Boys Inc proceed?
Answers
a. The associated costs of each decision are as follows:
Refurbishment Modifications New Equipment
Variable cost $1.10 $0.70 $0.40
Expected unit sales 3,000 3,000 3,000
Total variable costs $3,300 $2,100 $1,200
Total Fixed costs 800 1,100 1,800
Total costs $4,100 $3,200 $3,000
b. The Skater Boys Inc. should purchase new equipment instead of refurbishing or modifying its old equipment. The total cost it incurs with the purchase of new equipment is much less than the other alternatives.
c. If expected demand is between 1,000 and 2,000 skates, Modifications of old equipment will be the best alternative.
It is not the same alternative chosen for part b. The reason for the difference is that the total cost for part b favors the purchase of new equipment, whereas, the total cost for part c favors the modifications of the old equipment.
d. If the actual demand is 4,500 skates, the Skater Boys Inc should purchase new equipment because the total cost is $3,600, far less than the total costs of the other alternatives.
Data and Calculations:
Refurbishment Modifications New Equipment
Fixed Cost $800 $1,100 $1,800
Variable cost $1.10 $0.70 $0.40
Assumed unit sales 3,000 3,000 3,000
Total variable costs $3,300 $2,100 $1,200
Total Fixed costs 800 1,100 1,800
Total costs $4,100 $3,200 $3,000
Refurbishment Modifications New Equipment
Expected demand 1,000 2,000 1,000 2,000 1,000 2,000
Total variable costs $1,100 $2,200 $700 $1,400 $400 $800
Fixed costs 800 800 1,100 1,100 1,800 1,800
Total costs $1,900 $3,000 $1,800 $2,500 $2,200 $2,600
Refurbishment Modifications New Equipment
Expected demand 4,500 4,500 4,500
Total variable costs $4,950 $3,150 $1,800
Total Fixed costs 800 1,100 1,800
Total costs $5,750 $4,250 $3,600
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below is A supply curve for knee braces.
At $8 a brace, how many will be supplied?
Suppose that March becomes known as national marathon month, where every major city will host a marathon. Shift the supply curve to show the impact of new firms entering the market.
After news of national marathon month at a price of $8, how many braces will be supplied?
Answers
It should be noted that when price = $8, quantity will be 2 units.
When more firms enter the market, total market supply will shift rightward from SS1 to SS2 in the graph, which will intersect dmand curve at point E2, thus lowering price to P2 & increasing quantity to Q2.
How to explain the supply curveIn economics, the supply curve is a graphic depiction of the relationship between the price of a good and the amount of it that a seller is willing and able to supply.
The graph's vertical axis represents product pricing, and the horizontal axis represents the amount of the product delivered. As shown in above graph, the earlier price of $8 will result in a much higher supply at Q3.
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Consider the following information for Maynor Company, which uses a periodic inventory system:
Transaction Units Unit Cost Total Cost
January1 Beginning Inventory 35 $85 $2,975
March 28 Purchase 45 91 4,095
August 22 Purchase 70 95 6,650
October 14 Purchase 75 101 7,575
Goods Available for Sale 219 $20,508
The company sold 75 units on May 1 and 70 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
A. FIFO
B. LIFO
C. Weighted Average.
Answers
A. FIFO
Ending Inventory: $8,050
Cost of Goods Sold: $13,245
B. LIFO
Ending Inventory: $7,610
Cost of Goods Sold: $13,685
C. Weighted Average
Ending Inventory: $6,930.16
Cost of Goods Sold: $13,577.80
How to find the FIFOA. FIFO (First In, First Out)
Under the FIFO method, the first goods purchased are assumed to be the first goods sold. Therefore, for the May 1 sale of 75 units:
35 units from the January 1 Beginning Inventory (35 units * $85 = $2,975)
40 units from the March 28 Purchase (40 units * $91 = $3,640)
For the October 28 sale of 70 units, we take:
5 units from the March 28 Purchase (5 units * $91 = $455)
65 units from the August 22 Purchase (65 units * $95 = $6,175)
Cost of Goods Sold (COGS) = $2,975 + $3,640 + $455 + $6,175 = $13,245
Ending Inventory:5 units from the August 22 Purchase (5 units * $95 = $475)
75 units from the October 14 Purchase (75 units * $101 = $7,575)
Ending Inventory = $475 + $7,575 = $8,050
B. LIFO (Last In, First Out)
Under the LIFO method, the last goods purchased are assumed to be the first goods sold. For the May 1 sale of 75 units, we take:
35 units from the January 1 Beginning Inventory (35 units * $85 = $2,975)
40 units from the March 28 Purchase (40 units * $91 = $3,640)
For the October 28 sale of 70 units, we take:
70 units from the October 14 Purchase (70 units * $101 = $7,070)
Cost of Goods Sold (COGS) = $2,975 + $3,640 + $7,070 = $13,685
Ending Inventory:
5 units from the March 28 Purchase (5 units * $91 = $455)
70 units from the August 22 Purchase (70 units * $95 = $6,650)
5 units from the October 14 Purchase (5 units * $101 = $505)
Ending Inventory = $455 + $6,650 + $505 = $7,610
C. Weighted Average
Under the weighted average method, we calculate the average cost per unit for all goods available for sale.
Total Cost of Goods Available for Sale = $20,508
Total Units Available for Sale = 219
Weighted Average Cost per Unit = $20,508 / 219 = $93.64 (rounded to 2 decimal places)
For the May 1 sale of 75 units:
COGS = 75 units * $93.64 = $7,023
For the October 28 sale of 70 units:
COGS = 70 units * $93.64 = $6,554.80
Total Cost of Goods Sold (COGS) = $7,023 + $6,554.80 = $13,577.80
Ending Inventory = 74 units * $93.64 = $6,930.16
To summarize:
A. FIFO
Ending Inventory: $8,050
Cost of Goods Sold: $13,245
B. LIFO
Ending Inventory: $7,610
Cost of Goods Sold: $13,685
C. Weighted Average
Ending Inventory: $6,930.16
Cost of Goods Sold: $13,577.80
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The least expensive type of marketing research method is a(n)
Answers
c) “Shadow price is the increase in value created by having one additional unit of a limiting resource at original cost”. Provide a comprehensive real world example of where a shadow price can be calculated with multiple limiting factors and with more than one product. Your answer should be in a form of a short case study roughly 4 or 5 sentences. (5 marks)
Answers
A real world example of shadow pricing would be in a case where a manufacturer produces two product A and B with 2 input such as raw materials and labor.
How is this so?Two products (A & B) are produced through the use of two primary resources: labor & raw materials. To produce one unit of product A, we require roughly an hour's worth (60 minutes) of work time from our available pool.
Also, approximately two pounds worth of our current stockpile must be incorporated into each instance as well. Comparatively speaking, producing one unit from group B takes almost three times that much effort (3 hours' time), but only requires about half as much by weight (a single pound).
Our maximum allowance stands at exactly 60 work-hours across all levels plus another hundred pounds maximum in terms concerning these earthly elements - with that established pricing amounts to a flat rate where five dollars buys us one metric pound whereas ten dollars goes towards hourly wages; so what is their shadow price?
When dealing with limited input availability, the optimal allocation of resources and production process optimization can be achieved using shadow prices. In this regard, it has been determined that labor's shadow price stands at $10 per hour while the shadow price for raw materials is set at $5 per pound.
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Lakeesha Barnett owns and operates a package mailing store in a college town. Her store, Send It Packing, helps customers wrap items and send them via UPS, FedEx, and the USPS. Send It Packing also rents mailboxes to customers by the month. In May, purchases of materials (stamps, cardboard boxes, tape, Styrofoam peanuts, bubble wrap, etc.) equaled $11,550; the beginning inventory of materials was $1,050, and the ending inventory of materials was $950. Payments for direct labor during the month totaled $25,500. Overhead incurred was $18,200 (including rent, utilities, and insurance, as well as payments of $14,050 to UPS and FedEx for the delivery services sold). Since Send It Packing is a franchise, Lakeesha owes a monthly franchise fee of 5 percent of sales. She spent $2,750 on advertising during the month. Other administrative costs (including accounting and legal services and a trip to Dallas for training) amounted to $3,700 for the month. Revenues for May were $103,000.
Required:
a. What was the cost of materials used for packaging and mailing services during May?
b. What was the prime cost for May?
c. What was the conversion cost for May?
d. What was the total cost of services for May?
Answers
a. The cost of materials used for packaging and mailing services during May was $11,650.
b. The prime cost for May was $37,150.
c. The conversion cost for May was $43,700.
d. The total cost of services for May was $84,550.
How to calculate cost of materialsTo answer the questions, calculate various costs based on the given information:
a. Cost of materials used for packaging and mailing services during May:
Cost of materials used = Beginning inventory of materials + Purchases of materials - Ending inventory of materials
Cost of materials used = $1,050 + $11,550 - $950
Cost of materials used = $11,650
b. Prime cost for May:
Prime cost includes direct labor and the cost of materials used.
Prime cost = Direct labor + Cost of materials used
Prime cost = $25,500 + $11,650
Prime cost = $37,150
c. Conversion cost for May:
Conversion cost includes direct labor and overhead incurred.
Conversion cost = Direct labor + Overhead incurred
Conversion cost = $25,500 + $18,200
Conversion cost = $43,700
d. Total cost of services for May:
Total cost of services includes prime cost, conversion cost, and other administrative costs.
Total cost of services = Prime cost + Conversion cost + Other administrative costs
Total cost of services = $37,150 + $43,700 + $3,700
Total cost of services = $84,550
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Dmitri was complaining about his workload before the staff meeting began. Later, when the manager announced that 12 parking spaces would be lost due to construction across the street, he raised his hand and asked, "Then where exactly do you expect us to park?" The manager tried to provide some recommendations, but Dmitri continued to complain until the manager gave up and announced the meeting was over.
What could Caroline do to make the next meeting more effective and productive?
A. Bring a positive attitude
B. Dominate the conversation
C. Help summarize
Answers
Answer:
A
Explanation:
Gene is looking for a loan so that he can buy a car. There are a few different banks where he can apply for a loan. What should he be looking for in a loan?
OA. a low interest rate
OB. a good credit score
OC. an open line of credit
OD. a differed payment plan
Answers
Answer:
The Answer To This Question is B. a good credit score.
Explanation:
What happens when demand decreases while supply increases
Answers
Explanation: When demand decreases while supply increases, it creates a situation of surplus, also known as oversupply. This is because there is now more supply available in the market than there is demand for it, leading to a surplus of goods or services.
As a result, businesses may have to lower their prices to incentivize consumers to purchase their products or services. This can lead to a decrease in revenue for the businesses and potentially even lower profits. In some cases, businesses may also need to reduce their supply in response to the decrease in demand.
If the surplus persists over a longer period, businesses may also need to cut costs, such as reducing staff or production capacity, in order to remain profitable. This can have broader economic implications, such as rising unemployment rates and a decrease in overall economic activity.
Overall, a decrease in demand while supply increases can have negative consequences for businesses and the economy as a whole.
Answer: When demand increases and supply increases it leads to reduction in the equilibrium price.
Explanation:
The market price will fall as a result of a decline in demand and an increase in supply because, for any quantity, consumers now place a lower value on the item and producers are ready to accept a lower price.
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Which of the following describes a saturated market?
A. The prices of competitors are very high.
B. Many people want this product and haven't purchased it yet.
C. Most potential buyers have not heard of the product and don't know it exists.
D. Most potential buyers already have a product that satisfies this need or want.
will give brainliest
Answers
Answer:
D. Most potential buyers already have a product that satisfies this need or want.
Explanation:
A saturated market is one that is not creating additional demand for a product. It means demand for a particular product has reached its optimal level. In a saturated market, the sales growth of a product stagnates. All potential buyers have a product they are happy to consume. New entrants will have a challenge penetrating a saturated market.
Answer:
D. Most potential buyers already have a product that satisfies this need or want.
Explanation:
Why is it important to take notes during long lectures or discussions?
a) To review material later
b) To make sure speakers do not change their opinion in later lectures
c) To reuse notes when giving a presentation
d) To quiz the speakers
Answers
Answer:
B. to make sure speakers do not change their opinion in later lectures.
5 million in total liabilities 4 million dollars in the balance sheet net worth Calculate the debt to worth ratio
Answers
Answer:
1.25
Explanation:
The net worth ratio uses data from the balance sheet to compare the level of a company's debt against its total net worth.
The formula for calculating the debt to net worth ratio is as below.
Debt to networth ratio = Total debts/ Total net worth.
Liabilities are the debts of a business.
in this case, = 5,000,000 / 4,000,000
Debt to net worth ration= 5/4
=1.25
How do different careers in the human services relate to one another
Answers
What type of professional is MOST likely to work for themselves and are not employed by a business or agency?
freelancer
advertising sales agents
editors
market research analysts
Answers
Answer: Freelancer is the correct option.
Explanation: Freelancer is the type of professional who is most likely to work for themselves and is not employed by a business or agency because he or she is an individual going to earn on a per-task basis and they generally work a very short period as they are not directly employed by a business firm or a company on a signed agreement. Thus, they enjoy the liberty to work on a various jobs for different clients from various fields of work.
Please i need an answer
Answers
Answer:I need points
Explanation: by 7-4p 4
On June 15, 2021, Allen sold land held for investment to Stan for $65,000 and an installment note of $300,000 payable in five equal annual installments beginning on June 15, 2022, plus interest at 10%. Allen’s basis in the land is $255,500. What amount of gain is recognized in 2021 under the installment method?
Answers
The amount of gain that will be recognized in 2021 under the installment method, is $27, 857 . 14
How to find the gain recognized?First, find the profit margin on the land sold by Allen to Stan:
= ( Selling price of land - Allen's basis in the land) / Allen's basis in the land
= ( ( 300, 000 + 65, 000) - 255, 500) ) / 255, 500
= 109, 500 / 255, 500
= 42. 857 %
The gain to be recognized, using the installment method is:
= Profit margin x Amount paid by Allen in 2021
= 42. 857 % x $ 65, 000
= $27, 857 . 14
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Should all managers must always aim for the top position?why or why not
Answers
Answer:
The aim for most managers is to meet the requirements of their boss, and skilled managers know they can't do that without the help of the employees they oversee. Managers who fail to involve subordinates in achieving business goals can miss a mark of achievement for themselves and their company
Explanation:
Geoffrey
But how will these open market
operations affect Typical Bank's required
reserves and excess reserves?
Required reserves will not change, but excess
reserves will rise.
Both required reserves and excess reserves will rise.
Answers
Open market operations refer to the buying and selling of government securities by the central bank in order to manage the money supply in the economy. Both required reserves and excess reserves will rise.
When the central bank buys securities from banks, it pays for them by adding reserves to the banks' accounts. This means that the reserves of Typical Bank will increase, including both required reserves (which are set by regulation and based on the bank's deposits) and excess reserves (which are the amount of reserves held above the required amount).
It's important to note that an increase in excess reserves could potentially lead to an increase in lending by banks, which could stimulate economic growth. However, it could also lead to inflation if the increase in lending leads to an excessive increase in the money supply.
The central bank must carefully manage open market operations to maintain stability in the economy.Therefore, the correct answer to the question is: "Both required reserves and excess reserves will rise."
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My major is accounting. Mention your major, describe a little bit the various tasks that someone in that profession performs, and explain how you believe that understanding mental processes and behaviors can enhance your field of work.
Please help
at least 120 words
Answers
Organizational skill is important in profession. Accounting skills require analysis, detailed orientation, communication etc.
What are organizational skills?Organizational skills are required in many professions. Analysis, detailed orientation and communication are some of the organizational skills.
This skills are called as soft skills. communication, team work, and other interpersonal skills are some of the interpersonal skills. Analysis, decision making and innovation are required for organizational skills.
Therefore, Organizational skill is important in profession. Accounting skills require analysis, detailed orientation, communication etc.
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a _____ attempts to gain access to a system for malicious purposes without the owner's consent.
Answers
Answer:
A black hat hacker
Answer: Black hat hacker
Explanation:
Yield to maturity: Serengeti Corp. has five-year bonds outstanding that pay a coupon of 8.8 percent. If these bonds are priced at $1,064.86, what is the yield to maturity on these bonds? Assume semiannual coupon payments. What is the effective annual yield?
Answers
The yield to maturity on the bonds is 3.939% and the effective annual yield is 17.01%.
What are bonds?Bonds are debt securities that are issued by corporations, governments, and other organizations to raise capital. Essentially, when an organization issues a bond, it is borrowing money from investors.
First, we need to calculate the present value of each cash flow. The bond pays a semiannual coupon of 8.8%/2 = 4.4%. It will pay this coupon for ten semiannual periods (5 years x 2 semiannual periods per year). At the end of the ten periods, it will also pay back the face value of the bond, which is $1,000.
The present value of each semiannual coupon payment can be calculated using the following formula:
PV = C / (1 + r/2)^n
Where C is the coupon payment, r is the semiannual yield to maturity, and n is the number of semiannual periods until the payment.
Using the given numbers, we get:
PV of each coupon payment = $44 / (1 + r/2)^n
The present value of the face value payment can be calculated as:
PV of face value payment = $1,000 / (1 + r/2)^10
Now we can calculate the present value of all the cash flows by adding up the present values of each coupon payment and the face value payment:
Bond price = PV of coupon payments + PV of face value payment
$1,064.86 = $44 / (1 + r/2)^1 + $44 / (1 + r/2)^2 + ... + $44 / (1 + r/2)^10 + $1,000 / (1 + r/2)^10
To solve for r, we can use a financial calculator or a spreadsheet program. Using a financial calculator, we get a semiannual yield to maturity of 3.939%.
To calculate the effective annual yield, we first calculate the semiannual effective yield:
Effective semiannual yield = (1 + 3.939%)² - 1 = 8.149%
Then we can calculate the effective annual yield by compounding the semiannual effective yield:
Effective annual yield = (1 + 8.149%)² - 1 = 17.01%
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An indirect distribution channel uses agents, wholesalers, and/or retailers.
Question 6 options:
True
False
Answers
FILL IN THE BLANK the general electric model can be compared to swot analysis. market attractiveness corresponds to the_____element is swot analysis, whereas business strength corresponds to the_______ element.
Answers
Swot analysis and the general electric model are comparable. In a swot analysis, company strength refers to the internal aspect, while market attractiveness corresponds to the external element.
Which of the following actions could a marketer do while conducting a situational analysis?A situational analysis determines possible clients, examines predicted growth, evaluates competitors, and creates a realistic assessment of your company using market research. It entails focusing on the specific goals of the company and determining the elements that help or hinder those goals.
When a company launches a new product or service, which growth approach is employed?Market development plan is a growth strategy used by businesses or organizations to reach target consumers they haven't yet attained or aren't already serving with their offerings.
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Rachelle owns a business with her brother, ryan. last year, their company earned a profit of $200,000. rachelle paid taxes on her $100,000 share on her individual tax return because?
A (wrong)
C (wrong)
D (maybe)
Answers
Rachelle paid taxes on her $100,000 share on her individual tax return because she and her brother own a partnership that has pass-through taxation.
A tax return is a form (or series of forms) submitted to a taxing body that lists income, expenses, and other crucial tax data. Tax returns give taxpayers the option to determine their tax obligations, plan out their payments, or ask for reimbursement for any taxes they have paid in excess of what is required. In the majority of nations, anybody or any business with taxable income, such as wages, interest, dividends, capital gains, or other earnings, is required to file tax returns annually.
A partnership is a legal agreement between two or more parties to run a business and split the profits. Partnership agreements come in a variety of forms. In particular, all partners in a partnership business share earnings and liabilities equally, although in other cases, partners may have restricted liability.
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daily activities of financial management
Answers
Answer:
Daily reporting.
Analysing targets.
Meeting with department heads.
Managing and coordinating monthly reporting, budgeting and reforecast processes.
Explanation:
A long-term incentive is a type of
incentive given to employees that
is designed to be paid over
or longer.??
Answers
Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 6,100 units, but its actual level of activity was 6,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
Fixed element per month Variable element per unit
Revenue - $32.60
Direct labor $0 $3.90
Direct materials 0 12.10
Manufacturing overhead 33,400 1.80
Selling and administrative expenses 28,300 0.40
Total expenses $61,700 $18.20
Actual results for May:
Revenue $200,564
Direct labor $22,786
Direct materials $73,824
Manufacturing overhead $43,922
Selling and administrative expenses $31,896
The direct labor in the planning budget for May would be closest to:_________
a. $23,010
b. $22,633
c. $22,786
d. $23,166
Answers
Answer:
$23,595
Explanation:
The computation of the direct labor in the planning budget is shown below:
Direct labor in planning budget is
= Actual level of Activity × Direct labor per unit
= 6,050 × $3.90
= $23,595
For calculating the direct labor in the planning budget we simply multiplied the actual activity level by the direct labor per unit
This is the answer but the same is not provided in the given options