Job #178 consists of 500 units and has total of direct materials, $48,000; direct labor, $58,000; and overhead, $35,000. a. What is the unit product cost? b. What are the prime costs per unit? c. What are the conversion costs per unit?
a. ($48,000 + $58,000 + $35,000 ) / 500 units = $282 per unit
b. Prime Costs = Direct Materials + Direct Labor; so ($48,000 + $58,000 ) / 500 units = $212 per unit
c. Conversion Costs = Direct Labor + Overhead; so ($58,000 + $35,000 ) / 500 units = $186 per unit
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Which of the following statements is true?
a. FIFO determines transfered out value by adding the cost of begining WIP Inventory, current period costs needed to complete the beginning WIP inventory, and costs of units started and completed during the current period. b. All of the above statements are true. c. FIFO determines average unit cost (per cost component) by dividing current period cost by EUP. d. First-in, first-out (FIFO) determines EUP (by cost component) by the equivalne units in beginging WIP inventory that were completed during the current period, physical units started and completed during the period, equivalent units in the ending WIP inventory.
What are two advantages of decentralization?
Which statement below does not describe nonverbal communication as stated in the textbook?
a. Allows transmission of subtle messages b. Risk of conveying the wrong message c. Is an important way of communicating d. Can be recorded and archived
Statements of fact about the past and present are called
a. provisions and terms. b. promises and covenants. c. representations and warranties. d. damages and remedies.