User Account

All Pages

How much gross profit will have been earned on job

Assignment Help Financial Accounting
Reference no: EM132653771

Ready Brakes specializes in brake repair in automobiles. The company applies overhead costs to jobs on the basis of direct labour hours. For the current year, total manufacturing overhead was expected to cost $50,000. The total expected direct labour hours were anticipated to be 8,000. The company was working on job #842, a brake pad replacement on a Volkswagen Golf.

The following costs were incurred:

New Brake Pads: $8

Labour: 40 minutes of employee time - wage rate of $9 per hour.

Required:

Question a) Determine the cost of the job.

Question b) Assuming the company charges a flat rate of $50 to replace brake pads, how much gross profit will have been earned on Job #842?

Reference no: EM132653771

Questions Cloud

Describe the phase and block maintenance philosophies : Describe the "Phase" and "Block" maintenance philosophies, please include the positives and negatives of each and the dictating factors which would influence
What is the probability that a household views television : a. What is the probability that a household views television between 6 and 8 hours a day (to 4 decimals)?
What are the health benefits of vegetarian diets : In our society today, people are looking for alternative ways to eat to help ensure they're living a healthier lifestyle. One of the popular eating styles.
What would you tell parents regarding the use of vitamin : Have you ever thought about how many vitamins and minerals are required in your daily diet? Can you obtain all the vitamins and minerals in your food.
How much gross profit will have been earned on job : Assuming the company charges a flat rate of $50 to replace brake pads, how much gross profit will have been earned on Job #842?
Find the nash equilibrium in prices : Find the Nash Equilibrium in prices assuming firms choose prices simultaneously.
Calculate the investment payback period and irr : Calculate the investment Payback period and IRR. Denise, an Australian resident, is a self-funded retiree from Sydney, who is planning
Teckana initial production possibilities curve : Two countries, Marland and Teckana, can produce either clothing or food using all their available resources at constant opportunity cost.
Form of intellectual property protections : We discussed the concept of dead-weight-loss arising from a firm monopolizing the market. However, government often grants monopolies

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd