Exercise 23-21 Emeric and Ellie’s Painting Service estimates that it will paint 15 small homes, 10 medium homes, and 3 large homes during the month of June 2017. The company estimates its direct labor needs as 40 hours per small home, 76 hours for a medium home, and 134 hours for a large home. Its average cost for direct labor is $29 per hour. Prepare a direct labor budget for Emeric and Ellie’s Painting Service for June 2017.


Answer 1

 Total direct labor cost budget for June 2017   small home is $13,920 ,     medium home is $22,040 and large home is $11,658

Explanation:                            Total direct labor cost budget for June 2017

                                                        small home  medium home   large home

budgeted painting requirement               15                 10                      3

direct labor needs (in hours)                     40                76                    134


Total direct labor hours                             480            760                   402

direct labor cost per hour                          $29            $29                   $29

                                                             -----------------------------------------------------Total direct labor cost budget for          $13,920      $22,040         $11,658

June 2017                                            -----------------------------------------------------

Total direct labor cost =

(Total direct labor hours×direct labor cost per hour )

Related Questions

What kind of good is It? Determine whether each of the following goods is a private good, a public good, a common resource, or a club good. Private Good Public Good Common Resource Club Good A cabana along beach that is open to the public A new sUV that you use to drive your friends around town A large, beautiful fountain in a town square
Professor Wellman is constructing a demographic questionnaire for use in aresearch project. One question asks students to report whether they are currentlyliving in an "urban," "suburban," or "rural" setting. This is an example of a/an:A. nominal scale.B. ordinal scale.C. ratio scale.D. interval scale.
Corporate limited liability mean corporate losses are limited to
The Perez Company had a 12.5% return on a $100,000 investment in new equipment. The investment resulted in increased sales, and the resultant increase in income amounted to 5% of sales. The turnover (asset utilization) was:
The implied warranty of fitness for a particular purpose requires: a. proof that the seller made the first contact with the buyer. b. proof that the seller used the term "warrant." c. proof that the seller is a merchant. d. none of the above

Your company expects to receive CAD 1,200,000 in 90 days. The 90 day forward rate for CAD is $0.80 and the current spot rate is $0.75. If you use a forward hedge, estimate the cost of hedging the receivable if, 90 days later, the spot rate for CAD 90 days later turns out to be $0.82.a. $50,000
b. $50,000
c. $75,000
d. $75,000



Cost of hedging = $24,000


cost of hedging = 1,200,000 * ($0.80 - $0.82) = 1,200,000 * $0.02 = -$24,000

Since the actual forward rate was higher than th eexpected forward rte, the coampny lost money by hedging the operation. The cost of hedging the operation was $24,000.

Describe the Software Development Life Cycle. Describe for each phase of the SDLC how it can be used to create software for an Employee Payroll System that allows employees to log the number of hours completed in a work period and then generate their pay.


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A. If Canace Company, with a break-even point at $259,000 of sales, has actual sales of $350,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales?Round the percentage to the nearest whole number.1. $
2. %



Margin of safety in dollars is $91,000

Margin of safety as percentage of sales is 26%


Margin of safety can be defined as the amount of output or sales that a business can make before it reaches its breakeven point.

To calculate margin of safety in dollars

Margin of safety= Sales - Breakeven sales

Margin of safety= 350,000- 259,000

Margin of safety= $91,000

To calculate margin of safety as a percentage of sales, we use the following formula.

Margin of safety = (Sales- Breakeven point) ÷ Sales

Margin of safety = (350,000- 259,000)÷ 350,000

Margin of safety= 0.26= 26%


1. Margin of Safety(MOS) expressed in dollars =91,000

2. Margin of Safety(MOS) expressed as percentage = 26% (to the nearest whole number)


The MARGIN OF SAFETY is applied as a measure of the difference between the actual sales and break-even sales.

In other words, to find Margin of Safety, you subtract break-even sales from the actual sales.

MOS is used to determine at which level sales can drop before a business incurs losses. It is a tool by which actual or budgeted sales may be decreased without resulting in any loss.

1. Formula for Margin of Safety(in dollars):

Margin of Safety(in dollars) = Actual/Budgeted Sales ➖ Break-even Sales


Actual Sales = $350,000

Break-even Sales = $259,000

➡ Margin of Safety(in dollars) = $350,000 ➖ $259,000 = 91,000(ans)

2. Formula for Margin of Safety (expressed as a percentage) = [(Actual/Budgeted Sales ➖ Break-even Sales) ➗ Actual/Budgeted Sales] ✖ 100%


Actual Sales = $350,000

Break-even Sales = $259,000

➡ Margin of Safety (in percentage) = [($350,000 ➖ $259,000) ➗ $350,000] ✖ 100%

= ($91,000 ➗ $350,000) ✖ 100%

= 0.26 ✖ 100% = 26%(ans).

One year ago, you purchased 100 shares of Southern Foods common stock for $41.60 a share. Today, you sold your shares for $39.70 a share. During this past year, the stock paid $1.40 in dividends per share. What is your dividend yield on this investment?



Dividend yield= 3.53%


The dividend yield is the proportion of the market price that is earned as dividend. The higher the dividend yield the better for the investor.

The dividend yield is calculated as follows:

Dividend yield = Dividend paid /Current market price per share × 100

Dividend yield = 1.40/39.70× 100= 3.52

Dividend yield= 3.53%

Inventing a new soft drink - what would be the input - the conversion, and the output?



The invention of a new soft drink, the input, conversion, and output would be:

  • Input: Knowledge, raw material, and capital, which are required to make a product.
  • Conversion: It is the process of transforming input into the output.
  • Output: It is the result of the product.

Further explanation:

Inventing a new soft drink:

  • Soft drinks are popular beverages made for consumption purposes. Soft drinks are made from the dry and the fresh ingredients and mixing it with the water.
  • Inventing a new product, one should make the product unique from the existing product, new features or flavors should be added to them. The producer should try to make that product which is in demand. A unique product should be made so as to compete in the market.
  • Marketing and promotion should be kept in mind while selling the product.
  • Feedback should be taken from the consumers after selling.

Thus, the input for inventing a new soft drink would be the raw material, knowledge, and capital required to make the product that is a soft drink, the conversion is the process of making input into output, and output is the result of the product.

Learn more:

1. Gross national product:


2. Demand forthe product:


3. Productivity:


Answer details:

Grade: Middle School

Subject: Business

Chapter: Production

Keywords:Inventing a new soft drink, what would be the input, the conversion, and the output, feedback, market, raw material, marketing, promotion, knowledge, dry, fresh, after selling, a unique product should be made so as to compete, the market.

Inventing a new soft drink  -what would be the input - the conversion, and the output?

The input would be the taste/flavor of the new soft drink. When inventing something new, you need to figure out something that will give it a distinct difference over competition. After you have established what you want it to taste like, you need to make the receipe and try it to make sure you like it and can replicated it for consumers. Once the drink has been made for test tasting, having people try the drink will establish whether or not they want to purchase the drink. Once the entire drink has been through the processes of test tasting, if there is good feedback it's time to put the product on the the self as the output.

Because there are a significant number of "green-conscious" consumers, it is a legitimate market segment for many companies that have heretofore relied on more traditional segmentation such as demographics or psychographics. a. True
b. False





Market segments are customer groups, based on common characteristics people within each group share, such as; age, sex, geographic location, race, religion.

The significant increase in the number of green (or environment) conscious consumers make it a legitimate market segment that can be targeted by companies.