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worty [1.4K]
1 year ago
7

The Heidelberg Company began the period with a balance of $13,000 in its Work in Process (WIP) account. During the period the

Business
1 answer:
mixas84 [53]1 year ago
6 0

The cost of goods manufactured is $34,000

What is cost of goods manufactured?

The cost of goods manufactured is the cost of the units of finished goods manufactured during the period under review.

The cost of goods manufactured is determined as opening work-in-process plus labor direct costs, direct materials cost, applied manufacturing overhead and thereafter we deduct the ending work in process, note that the estimated overhead is applicable  since the materials are computed using the purchase cost

cost of goods manufactured=$13,000+$16,000+$10,000+$17,000-$22,000

cost of goods manufactured=$34,000

Find out more about cost of goods manufactured on:brainly.com/question/13767214

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If the severity of risk is low and the frequency of the risk event occurring is high thanwe should Avoid the risk.

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Low frequency/ High severity- The impact of these kinds of risks is very high and can bankrupt a business. Insurance is the best technique to manage these risks that have low loss frequency and high loss severity. Low frequency/ Low severity- Retaining and self-insuring the risk. Risk occurrence is low and impact is also very low. In most cases, the costs of managing them outweigh the cost of retaining them.

Learn more about risk frequency here:- brainly.com/question/254161
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2 years ago
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