predetermined overhead pool rates. Required: 1. Prepare a performance report for Westcott’s manufacturing costs in 2010. 2. Assume that one of the products produced by Westcott is budgeted to use 10‚000 direct labour hours‚ 15‚000 machine hours‚ and 500 moves and will be produced in five batches. A total of 10‚000 units will be produced during the year. Calculate the budgeted unit manufacturing cost. 3.
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whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation? 4. Question: (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1‚600 steak dinners will be produced and sold: materials‚ $4‚080; hourly labor (variable)‚ $5‚200; rent (fixed)‚ $1‚700; depreciation‚ $800; and other fixed costs‚ $600. Each steak dinner sells for $14.00 each. How much is the budgeted variable cost per unit? 5. Question: (TCO 1) which
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Workshop 1 – Chapters 1-3 Exercise 2-2 (15 minutes) | | Product Cost | Period Cost | 1. | The cost of the memory chips used in a radar set | X | | 2. | Factory heating costs | X | | 3. | Factory equipment maintenance costs | X | | 4. | Training costs for new administrative employees | | X | 5. | The cost of the solder that is used in assembling the radar sets | X | | 6. | The travel costs of the company’s salespersons | | X | 7. | Wages and salaries
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influenced by government. Microeconomics involves the analysis of how consumers make decisions about what to consume‚ how firms decide what and how much to produce‚ and how the interactions of consumers and firms determine how much of a good will be sold‚ and at what price. Many interesting questions can be approached by applying the methodology developed. For example‚ how will a cut in price of V3 Motorola hand - phone affect the quantities of these items that people buying? It is the standard approach
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supply chains so as to compete with their competitors. Productivity is the value of outputs (services and products) produced divided by the value of input resources (wages and cost of equipment). The labour productivity is given by‚ Labour Productivity=OutputLabour Hours As a manager‚ the thing we need to know is what the customer pays or simply by the number of units produced or customer served. The value of input can be judged by their cost or by the number of hours worked. For Week=1; Sud
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Schulich School of Business Mokhles Hossain York University Fall 2012 Econ 2000 Applied Macroeconomics Assignment # 1 Solution Value: 100 Due: Thursday‚ October 11‚ 2012 NOTE: Late assignments will not be accepted Show all your work to get full marks Assignments must be typed (except for diagrams) Question 1 (10 points) Suppose i) Identify the endogenous and exogenous variables of the model. There are three variables and four constants (two intercepts
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two lamps that sell for six dollars total revenue is twelve dollars. This answer is found by using the formula quantity x price. If an additional lamp was produced‚ the marginal revenue would show if there was any change to the total previously found. To find the marginal revenue one must divide the total revenue by the quantity of items sold. Fortunately‚ in a competitive market the marginal revenue will also equal the price of the good. Another area a business owner should be proficient in is
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Inseparability Inseparability of production and consumption involves the simultaneous production and consumption which characterizes most services. Whereas goods are first produced then sold and then consumed‚ services are first sold‚ then produced and consumed simultaneously(Regan‚ 1963).Since the customer must be present during the production of many services‚ for example an airline trip‚ inseparability “forces the buyer into intimate contact with the production process”(Carmen and Langeard‚ 1980)
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Product or also known as GDP is the total market value of all the final goods and services produced within the economy in a given year. Real GDP measure the total output and does not increase just because the price increases. Real GDP uses the same prices for both years. From the information that was provided in the question we can then find what the growth in real GDP will be. The value of the real GDP’s produced in 2013 were 10 shirts at $20 dollars each and 5 hamburgers at $5 dollars each. Since
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Second of all‚ end inventory is calculated as End Inventory=Beginning Inventory+(Units Produced-Units Sold)* Cost per Unit. Under level production‚ unit produced is constant each month. Third of all‚ it is believed that altogether $1‚080‚000 will be saved if Polar Sport adopts level production. This figure can be trace by comparing the Cost of Goods Sold under seasonal production ($11‚880‚000) and Cost of Goods Sold under level ($10‚800‚000) Last but not least‚ if Polar Sort adopts level production
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