Business, 27.09.2019 05:10 moranmar2283

Braverman company has two manufacturing departments—finishing and fabrication. the predetermined overhead rates in finishing and fabrication are $18.00 per direct labor-hour and 110% of direct materials cost, respectively. the company’s direct labor wage rate is $16.00 per hour. the following information pertains to job 700: finishing fabrication direct materials $ 410 $ 60 direct labor $ 128 $ 48 required: 1. what is the total manufacturing cost assigned to job 700? 2. if job 700 consists of 15 units, what is the unit product cost for this job?

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Answer from: Kcmayo6019

Instructions are listed below

Explanation:

Giving the following information:

The predetermined overhead rates:

Finishing: $18.00 per direct labor-hour

Fabrication: 110% of direct materials cost.

The company’s direct labor wage rate is $16.00 per hour.

The following information pertains to Job 700:

Finishing: Direct materials $ 410 - Direct labor $ 128

Fabrication: Direct materials $ 60 - Direct labor $ 48

A) Total manufacturing cost= manufacturing cost allocated to finishing + manufacturing cost allocated to fabrication

Number of hours= (128/16)= 8 hours

Total manufacturing cost= (8 hours* 18) + ($60*1.10)= $210

B) Total cost per unit= total cost/Q

Total cost per unit= (total cost of finishing + total cost of fabrication)/Q

Total cost per unit= [(410+128+144)+(60+48+66)]/15

Total cost per unit= $57.07

Answer from: gabiii262

The overhead rates are the rates that are allocated to the production of a product or service. The overhead rate is applied to the direct costs to production by spreading or allocating the overhead costs based on the specific measures.

The predetermined overhead rates:

Finishing- $18.00 per direct labor-hour

Fabrication- 110% of direct materials cost.

The company’s direct labor wage rate is $16.00 per hour.

The following information pertains to Job 700:

Finishing: Direct materials $ 410 - Direct labor $ 128

Fabrication: Direct materials $ 60 - Direct labor $ 48

A) Total manufacturing cost= manufacturing cost allocated to finishing + manufacturing cost allocated to fabrication

$\begin{aligned}\text{Number of hours}=\frac{128}{16}= 8 \ \text{hours}\end{aligned}$

$\begin{aligned}\text{Total manufacturing cost}= (8\ \text{hours}\times 18) + ($60\times1.10)= $210\end{aligned}$

B) $\begin{aligned}\text{Total cost per unit}= \frac{\text{total cost}}{\text{Q}}\end{aligned}$

$\begin{aligned}\text{Total cost per unit}= \frac{\text{total cost of finishing + total cost of fabrication}}{\text{Q}}\end{aligned}$

$\begin{aligned}\text{Total cost per unit}= \frac{(410+128+144)+(60+48+66)}{15}\end{aligned}$

The total cost per unit is $57.07

To know more about the calculation of the different overhead rates, refer to the link below:

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Answer from: Quest

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explanation:

we're are the selections to pick from?

Answer from: Quest

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

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