Hill Company uses job-order costing. At the end of the month, the following data was gathered:Job #Total CostComplete?Sold?803$611yesyes804$423yesno805$805nono806$682yesyes807$525yesno808$250nono809$440yesyes810$773yesno811$267nono812$341nonoHill's selling price is cost plus 50% for each of its products. What is the selling price of Job 806
Answers
Answer:
$1,023
Explanation:
As for the provided information, we have:
Total cost associated with JOB 806 = $682
Is it completed = Yes
Are the product sold = Yes
Now, it is provided that the selling price of products = Cost + 50% of cost
Or simply Cost 150% = Selling Price of goods
Therefore, selling price of this job = $682 150% = $1,023
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Answers
Answer:
The correct answer is letter "A" and "C": Position the bad news strategically between other sentences.; Accentuate the positive.
Explanation:
The objective of the message must be to provide the benefits over the disadvantages of the company being acquired by a large firm. The disadvantages can be provided in between sentences to rest importance but the advantages must be highlighted at every moment to give a positive impression of the acquisition to the employees.
Oct. 31 A check was written to reimburse the fund and increase the fund to $196.00.
A count of the petty cash fund disclosed the following items:
Currency $59.00
Coins 2.07
Expenditure receipts (vouchers):
Supplies $24.73
Miscellaneous items 15.03
Postage 38.33
Freight-Out 5.43
Journalize the entries in october that pertain to the petty cash fund.
Answers
Explanation:
The journal entries are shown below:
1. Petty cash A/c $146
To Cash A/c $146
(Being the petty cash fund is established)
2. Office supplies A/c Dr $4.73
Miscellaneous items $15.03
Postage $38.33
Freight-Out $5.43
Cash short and over A/c $21.41 (Balancing figure)
Petty cash A/c $50 ($196 - $146)
To Cash $134.93 ($196 - $59 - $2.07)
(Being the expenses are recorded)
Answers
Answer:
$252,000
Explanation:
The question is to determine the contribution of Sam's Bookstore for the first quarter
Contribution Margin represents the profit an organisation can generate from the sale of a product. in order to calculate, the variable costs are deducted from the revenue from sale.
The formula for Contribution margin = Sales- the cost of goods sold - variable selling expense.
Selling Price = $65
Reported ales = $910,000
First, we determine the number of books sold in the first quarter
= $910 000/ $65 = 14 000 books
Second, since the store sold 14,000 books in the first quarter, the total variable selling cost for the books sold
= total books sold x the variable selling expense per book
= 14,000 x $4 = $56,000= total variable selling expense
Third, since the store sold 14,000 books in the first quarter, the total variable administrative cost for the books sold
= total books sold x the variable administrative expense per book
= 14,000 x $3 = $42,000= total variable Administrative expense
Four, determine the contribution margin as follows:
Sales - cost of goods sold - variable selling expense - variable administrative expense
= $910,000-$560,000- $56,000-$42,000= $252,000
Answers
Answer:
$151,673
Explanation:
Average cost method calculate the cost of the inventory on the average price basis. Cost of goods sold is the cost of the goods sold in the given period.
Description Units Rate Value
Beginning Inventory 7,400 $11.00 $81,400
Purchases 3,100 $12.00 $37,200
Purchases 12,200 $12.50 $152,500
Total Inventory 22,700 $11.94273128 $271,100
Sale 12,700 $11.94273128 $151,673
Cost of Goods Sold = $271,100 x 12,700 / 22,700 = $151,673
Answers
Final answer:
Dunkin Donuts' actions of taste testing, research, and consumer feedback represent 'Market Research'. This process helps them collect and analyze data about consumer preferences, trends, and competition, thereby assisting them in making informed product decisions.
Explanation:
In the context of Dunkin Donuts' actions, this represents Market Research. Market Research is the process of gathering and analyzing data about the market, including information about customer preferences, trends, and competing products. For a company like Dunkin Donuts, this helps to ensure that they are meeting consumer demand, staying ahead of trends, and maintaining a competitive edge in the donut and coffee market. For example, they might survey customers about their preferred donut flavors, or test new product offerings in select locations to see how they perform. Based on the feedback, they make decisions on what to offer on a wider scale.
Learn more about Market Research here:
Answers
Answer:
Allocated administrative expense to Meat department = $17,000
Explanation:
The basis of allocating the administrative expense is the floor space occupied by the the department.
Administrative expense
= Floor space occupied/Total floor area × Administrative expense
Total floor area= (1,470+980+2,450)= 4,900 square feet
Floor area occupied by meat department = 2,450
Administrative expense = $34,000
Allocated administrative expense to Meat department:
= (2,450/4,900) × $34,000 = $17,000
= $17,000
Answer:
$17,000
Explanation:
Using the floor spacing occupied by each department as the basis for the allocation of the administrative expense. In other words, the bigger the square feet occupied, the bigger the total administrative expense to be allocated.
Given
Department Square Feet Dollar Sales
Produce 1,470 $ 99,000
Bakery 980 $ 49,000
Meats 2,450 $ 61,000
Totals 4,900 $ 209,000
And the Amount Administrative Square feet of floor space $ 34,000
Then the administrative cost allocated to the meat department
= (2450/4900) * $ 34,000
= $17,000