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Question - Company A manufactures custom-made products. On January 1 the company received an order from Customer 1. The job was completed and sold in January. During the month, $45 of direct materials were requisitioned and 6.25 direct labor hours were logged for the job. The company's direct laborers are paid at a rate of $8 per direct labor hour.
At the beginning of the year, the company estimated total manufacturing costs of $225,000 and total direct labor hours of 75,000. Manufacturing overhead is applied to jobs based on direct labor hours logged.
The sales price charged to Customer 1 was cost plus 60%. What was the selling price of the product?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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