Awesome Wood Products Manufactures Two Types of Wooden Bookends: Plain

question 92

Essay

Awesome Wood Products manufactures two types of wooden bookends: plain and hand-carved.The following information about the production process is available:

	Plain	Hand-Carved
Number produced	120,000	75,000
Machine hours	95,000	25,000
Inspection hours	7,000	35,000
Revenues	$4,800,000	$4,400,000
Direct costs	$3,800,000	$3,100,000

Total factory overhead is $1,200,000.Of this overhead,$500,000 is related to utilities and the remainder is related to quality control.
a.Determine the total overhead cost assigned to each type of bookend using machine hours as the allocation base.Calculate the gross profit per unit for each product.
b.Determine the total overhead cost assigned to each type of bookend if overhead is assigned using allocation bases appropriate to the overhead costs.Calculate the gross profit per unit of each product.
c.Explain why the unit cost for each model is different between the two methods of allocation.

Analyze the significance of correlations and their implications in psychological research.

Evaluate the importance of ethics and unbiased observations in developmental psychology research.

Understanding experimental design in social psychology, including variables and bias reduction.

Knowing how to interpret data based on descriptive statistics (percentile, median, mode).

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Definitions:

American Capitalist Society

A society characterized by a capitalistic economy, where private ownership, profit motive, and market competition are prevalent.

Ethnic Conspiracy

A belief or theory that a particular ethnic group is secretly working to achieve malignant goals.

Organized Crime

Structured groups engaged in criminal activities, often for profit, such as drug trafficking, extortion, and money laundering.

Burglary

The unlawful entry into a building with the intent to commit a crime, typically theft.