1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
irina [24]
3 years ago
12

Smith Company reports the following information: Cost of goods manufactured $68,250 Direct materials used 27,000 Direct labor in

curred 25,000 Work in process inventory, January 1 11,000 Factory overhead is 75% of the cost of direct labor. Work in process inventory on December 31 is
Business
1 answer:
mafiozo [28]3 years ago
6 0

Answer:

Ending Work in process= $13,500

Explanation:

Giving the following information:

Cost of goods manufactured $68,250

Direct materials used 27,000

Direct labor incurred 25,000

Work in process inventory, January 1 11,000

Factory overhead is 75% of the cost of direct labor.

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

68,250= 11,000 + 27,000 + 25,000 + (0.75*25,000) - Ending WIP

Ending WIP= 11,000 + 27,000 + 25,000 + 18,750 - 68,250

Ending WIP= 13,500

You might be interested in
The difference in average annual income in favor of employees who have college degrees, compared with those who do not have such
Kay [80]

Answer yee:

Explanation:

6 0
3 years ago
What design flaw on this ballot could potentially cause confusion for voters? the ballot appears fine as it is, without any pote
tester [92]
The alignment of the yes and no arrows is confusing in some portions
6 0
3 years ago
Read 2 more answers
Goliath Corp. has beginning accounts receivable of $2,000. During the year, Goliath sold goods to customers on account for $10,0
pishuonlain [190]

Answer:

$12,000

Explanation:

According to the accrual accounting method, the reporting of the transactions should be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.

The revenue should be recorded when it is earned or realized and the expenses are recorded when it is incurred

So, in the given scenario, the amount based on accrual basis sales would be

= Goliath sold goods to customers on account + Goliath also sold goods to customers for cash

= $10,000 + $2,000

= $12,000

3 0
3 years ago
Your friend Reggie needs to write a resume and asked for your help. In at least 150 words, create a guide for Reggie. What are t
spayn [35]

Answer:

Name

Address

Contact Number

Objective

Work Experience

Extra Curricular Activities

School Graduated

Referral

Signature

Explanation:

Simple steps in making a Resume

8 0
3 years ago
Sasha is a single woman who is paid $16 per hour for 2,000 hours of work per year. Using her exemption of $4,050 and her standar
densk [106]
For this case what you must do is the following operation:
 Taxable income = Household income-Personal exemption-Standard deduction.
 Substituting the values we have:
 Taxable income = ((16) * (2000)) - (4050) - (6350)
 Taxable income = 21600 $
 Answer: 
 her taxable income is 21600 $
4 0
3 years ago
Read 2 more answers
Other questions:
  • HELP ME PLEASE!!!!!!!!!!!!
    7·2 answers
  • An Investment Adviser Representative has started a blog on the Internet to promote her services to interested parties. The blog
    9·1 answer
  • An operational plan provides a detailed road map of the steps necessary to achieve operational goals (sometimes referred to as o
    8·1 answer
  • All of the following are conducive to economic growth except
    7·1 answer
  • Why should you purchase insurance?
    5·1 answer
  • Retail companies try to find a. the least profitable method of transferring goods from warehouses to stores. b. the least costly
    9·1 answer
  • Hammes Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and
    7·1 answer
  • Melissa is trying to decide between two digital cameras.
    13·1 answer
  • the cost of land improvements are capitalized separately from land because land improvements tend to have a useful life.
    11·1 answer
  • Suppose the government introduces a new incentive for individuals to save money for retirement. How would this affect the market
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!