Question

What is the basis for self-regulation in a green economy?

a) Following natural flows
b) Community and intelligent design
c) Make more money
d) Human creativity

Answer 1

Greer Company's direct labor cost for the year is calculated by subtracting the direct materials used and the overhead applied from the total manufacturing costs, resulting in a direct labor cost of $464,000.

Step-by-step explanation:

To determine Greer Company's direct labor cost for the year, we need to consider the total manufacturing costs and the known data points relating to materials and overhead. The formula we use is: Total Manufacturing Costs = Direct Materials + Direct Labor + Overhead Applied.

From the data provided:

• Total Manufacturing Costs = $856,000
• Direct Materials Used = $208,000
• Overhead Applied = $184,000

Using these values, we can rearrange the formula to solve for Direct Labor:

Direct Labor = Total Manufacturing Costs - Direct Materials Used - Overhead Applied

Direct Labor = $856,000 - $208,000 - $184,000

Direct Labor = $464,000

Therefore, the direct labor cost for Greer Company for the year is $464,000.