MsTaylor Works at an Assembly Plant That Produces Footballs

question 99

Multiple Choice

Ms.Taylor works at an assembly plant that produces footballs.She earns $18.00 an hour for straight-time and $36 per hour when she works overtime.She reported that she worked 46 hours during the previous reporting period,which included 6 hours of overtime.
Required:
Compute the total compensation for the week;the amount of compensation that was reported as direct manufacturing labor;the amount of compensation that is reported as a manufacturing overhead cost.

• A)$900;$810;$80
• B)$926;$822;$88
• C)$936;$828;$108
• D)$942;$832;$116
• E)$950;$860;$124

Understand the significance of unique, valuable, and hard-to-imitate resources in sustaining competitive advantage.

Delineate the characteristics and assumptions underlying the Resource-Based View.

Comprehend the impact of competitive advantage on firm performance, including cost reduction and increased pricing power.

Gain insights into the Industrial Organization (IO) perspective on industry structure, performance, and competitive advantage.

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Definitions:

Work in Process

Inventory that includes goods that are in the process of being manufactured but are not yet complete.

Finished Goods Inventory

Manufactured goods that are complete and ready for sale.

Lower of Cost

A principle typically applied in the valuation of inventory and financial assets, stating to record the asset at the lower of its historical cost or current market value.

Net Realizable Value

The estimated selling price in the ordinary course of business, minus the estimated costs of completion and the necessary costs to make the sale.