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Labour Economics

Pricing

Bolus Computer Parts Inc. is in the process of setting a selling price on a new component it has just designed and developed. The following cost estimates for this new component have been provided by the accounting department for a budgeted volume of 50,000 units. Per Unit Total Direct materials $50 Direct labor $

Pricing

Lafluer Corporation needs to set a target price for its newly designed product M14 - M16. The following data relate to this new product. Per Unit Total Direct materials $20 Direct labor $42 Variable manufacturing overhead $10 Fixed manufacturing overhead $1,440,000 Variable selling and administrative e

Job order costing

For the year ended December 31, 2008, the job cost sheets of DeVoe Company contained the following data. Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $25,000 $24,000 $28,800 $ 77,800 Current year's costs 30,000 36,000 43,200 109,200 7641 Balance 1/1 1

Activity based costing

FireOut, Inc. manufactures steel cylinders and nozzles for two models of fire extinguishers: (1) a home fire extinguisher and (2) a commercial fire extinguisher. The home model is a high-volume (54,000 units), half-gallon cylinder that holds 2 1/2 pounds of multipurpose dry chemical at 480 PSI. The commercial model is a low-volu

Job order costing

P3-3A Fiedel Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2008, inventories consisted of Raw Materials $26,000, Work in Process-Mixing $0, Work in Process-Packaging $250,000, and Finished Goods $

Marginal Revenue Product of Labor

Please help with the following problems. To better serve customers interested in buying cars over the Internet, Smart Motors, hired Nora Jones to respond to customer inquiries, offer price quotes, and wrote orders from leads generated by the company's Web site. During the last year, Jones averaged 1.5 vehicle sales per week.

General motors-recommendation and government policy

Giving the current situation with General Motors, our team is recommending that they (GM) reduce their current operations in order to maximize profits. In 250 words, analyze the effects of government policies, social diversity, and business ethics on this recommendation and explain what would be the impact of this in the fu

Eco-Accounting Help

Rollo Enterprises recorded the following activity in work-in-process inventory for September. Direct Labor - $15,000 Direct Materials - $10,000 Factory supervisor's salary, September - 3000 Indirect Materials - 7,000 Factory utilities - 500 1,000 units were started and completed during the month. A. computer the amo

Buy a Component

Climate-Control, Inc., manufactures a variety of heating and air-conditioning units. The company is currently manufacturing all of its own component parts. An outside supplier has offered to sell a thermostat to Climate-Control for $14 per unit. To evaluate this offer, Climate-Control, Inc., has gathered the following informatio

Economic Marginal Cost Problem

2. Smokey's Garage, Inc., provides routine auto diagnostics for customers in the Atlanta, Georgia, metropolitan area. Tests are supervised by skilled mechanics using equipment produced by two leading competitors in the auto test equipment industry. Records for the current year show an average of 4 tests per hour performed on

Variable and Absorption Costing (Accounting)

Please see problem attached. Maxwell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 20 Direct labor $ 7 Variable manufacturing overhead $ 2 Variable selling and administrati

Economis of scale and scope (Decision to open facility)

A multiconcept restaurant incorporates two or more restaurants, typically chains, under one roof. Sharing facilities reduces costs of both real estate and labor. The multiconcept restaurants typically offer a limited menu, compared with full-sized, stand-alone restaurants. For example, KMAC operates a combination Kentucky Fri

3 simple sums

1) FILL IN THE HIGHLIGHTED BOXES WORKERS WAGE RATE TOTAL LABOR COST MARGINAL FACTOR COST 1 $ 12.00 $ 12.00 2 $ 12.10 $ 24.20 3 $ 12.20 4 $ 12.60 3) Using the f

In the US how do Hispanics and Baby boomers affect the workforce and the economy?

Please give me data to show how the increase in Hispanics and increase in Baby boomers (people age 65 and older) affect the Workforce and the US economy? The increase of Hispanics in the labor force obviously, but need data showing what it means? How much of and increase in the labor force? etc. Same with the babyboomers. Ple

Predetermined Overhead rate and Total Job Cost & Overhead applied

B3 Company is a manufacturing firm that uses job-order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 24,000 machine-hours and incur $216,000 in manufacturing overhead cost. During the year, manufact

Accounting Profits

A construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts that had been earning 6% a year and used that money to start up the business. He worked hard the first year, hiring one employee (his only sal

Product Costing - DuPont's Kevlar

Product Costing In the text you used accounting data on DuPont's Kevlar product line to determine the total manufacturing cost to produce a pound of Kevlar. Similar data on DuPont's Teflon product line are provided below. Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $60.0

Ricardian Model

Here is the question (please show me the process how you get the answer): a. In England each unit of wine requires eight hours of labor in its production and each unit of cloth requires four hours. The autarkic price of wine in terms of cloth in England is: i. Two units of cloth. ii. Two units of wine. iii. One unit of clo

Fluffy's Cat Farms

Fluffy's Cat Farms A Delaware Company Pro-forma and Actual Results (Income Statement) As of December 31 of the year indicated. 2005 (Actual) 2006 (Pro-Forma) Sales 100 250 Cost of Goods Sold 50 100 Gross Margin 50 150 Rent and Utilities 10 20 Selling General and Admin 20 50 Total Operating Expenses 30 70 Depreciat

Marginal Product of Labour notes

A firm identifies the following relationship between the real wage it pays and the effort exerted by its workers: Real Wage Effort 8 7 9 10 12 15 13 17 16 19 17 20 The marginal product of labor for this firm is MP

Labour Variances & Labour Efficiency

Standard labor hours per unit of output: 2.8 standard labor rate per hour: 11.50 operations for the last month: actual hours worked: 6900 actual total labor cost: 80,385 actual output: 2300 units What is the labor variance for the month? What is the labor efficiency rate for the month?

Economics Output Maximization and Profit Maximization

What you are solving for in these problems is the optimal input combination based either on what I call Solution #1 and Solution #2; Solution #1 guarantees output maximization and Solution #2 guarantees profit maximization. Use them where appropriate. Use the optimization procedure to get answers not an Excel result. 1. T

Corporate diversity

How has the introduction of females and minorities in the corporate structure impacted the supply of labor and the economy?