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Q: How much does it cost to construct a refinery of 30000 barrel per day?
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What is the direct labor cost if a company's direct labor is 40 percent of its conversion cost and the manufacturing overhead cost for the last period was 60000 and the direct materials cost was 30000?

60000 + 30000 = 90000 = 60% / 60 = 1500 = 1% x 100 = 150000 = 100% X .4 = 60000 The above solution is incorrect. By definition, the conversion cost is the sum of the direct labor cost and the overhead. Therefore, if we assume x is the conversion cost, then x = 0.4x + 60,000. The solution is conversion cost = 100,000. Hence, the direct labor cost = 40,000. Note that the knowing the direct material cost is not necessary for the computation of the labor cost. I am really bad at math so i just have to think you are right on this one

How do you do percentage increase?

Do you mean 'how do you calculate the percent increase?' If so, talking prices, subtract selling price - cost. Then divide thet answer by the cost and multiply by 100 to change to a percent. Example A car lot sells a car for 36,000 that it bought for 30,000 36000 -30000 = 6000 6000/30000 x 100 = 20% increase Same for anything else ... 1 caught 10 fish this week. I caught 8 least week. What is the incresee? 10 - 8 = 2 2 / 8 x100 = 25% increase

Is total cost different from overhead cost?

Overhead cost is part of total cost and not different from total cost as formula is as follows: Total cost = material cost + labor cost + overhead cost

What are the four measures of cost?

marginal cost, total cost, variable, and fixed cost

How do you calculate cost price?

Total cost price = Material cost + labor cost + overheads costs