The job cost sheet for Job number 83-421 includes the following information:DIRECT MATERIALS:7/12 Requisition R88-566: 20 units @ $ 3.50 per unit7/13 Requisition R88-576: 18 units @ $ 5.00 per unit7/13 Requisition R88-578: 4 units @ $25.00 per unit7/14 Requisition R88-591: 40 units @ $ 1.25 per unitDIRECT LABOR:7/12 Employee 19: 8 hours @ $ 9.00 per hour7/13 Employee 19: 6 hours @ $ 9.00 per hour7/13 Employee 37: 6 hours @ $ 8.00 per hour7/14 Employee 19: 5 hours @ $ 9.00 per hour7/14 Employee 92: 5 hours @ $11.00 per hourFACTORY OVERHEAD: Assigned at 150% of direct labor cost.What is the total cost of Job number 83-421?
What will be an ideal response?
| Total cost of job: | ? | ? |
| DIRECT MATERIALS: | ? | ? |
| 7/12 Requisition R88-566: 20 units @ $ 3.50 per unit … | = | $ 70 |
| 7/13 Requisition R88-576: 18 units @ $ 5.00 per unit … | = | 90 |
| 7/13 Requisition R88-578: 4 units @ $25.00 per unit … | = | 100 |
| 7/14 Requisition R88-591: 40 units @ $ 1.25 per unit … | = | 50 |
| Total direct materials cost ………………………………. | = | $310 |
| ? | ? | ? |
| DIRECT LABOR: | ? | ? |
| 7/12 Employee 19: 8 hours @ $ 9.00 per hour ………… | = | $ 72 |
| 7/13 Employee 19: 6 hours @ $ 9.00 per hour ………… | = | 54 |
| 7/13 Employee 37: 6 hours @ 8.00 per hour …………. | = | 48 |
| 87/14 Employee 19: 5 hours @ $ 9.00 per hour ………… | = | 45 |
| 7/14 Employee 92: 5 hours @ $11.00 per hour ……….. | = | 55 |
| Total direct labor cost …………………………………. | = | $274 |
| ? | ? | ? |
| FACTORY OVERHEAD | ? | ? |
| 150% of direct labor cost (150% ? $274) ……………... | = | $411 |
| ? | ? | ? |
| TOTAL COST ASSIGNED TO THE JOB | = | $995 |
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What are share based compensation plans?
What will be an ideal response?
When assessing performance, one way to compensate for differences among divisions of a multinational organization would be for the parent company to
a. use different target rates of return to compute residual incomes. b. modify the return on investment calculation so that foreign currency fluctuations are removed from all financial statement figures. c. classify all domestic divisions as investment centers and all foreign divisions as profit centers. d. use financial performance measures for units whose records are kept in the domestic currency and non-financial measures for units whose records are kept in a foreign currency.
The accrual basis of accounting is often contrasted with the cash basis of accounting. Which of the following is true of the cash basis of accounting?
a. The cash basis is not subject to manipulation b. Most larger companies use the cash basis of accounting c. The cash basis of accounting provides a strong basis to determine the total assets of the company d. The cash basis provides an inferior picture of operating performance e. The cash basis provides an superior picture of operating performance
Comparisons can be virtually any length
a. true b. false