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
pashok25 [27]
3 years ago
9

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Material

s $167,500 $149,080 Work in process 112,230 99,880 Finished goods 85,430 99,880 Direct labor $301,500 Materials purchased during March 321,600 Factory overhead incurred during March: Indirect labor 32,160 Machinery depreciation 19,430 Heat, light, and power 6,700 Supplies 5,360 Property taxes 4,690 Miscellaneous costs 8,710 a. Prepare a cost of goods manufactured statement for March.
Business
1 answer:
snow_lady [41]3 years ago
4 0

Answer:

cost of goods manufactured= $730,920

Explanation:

Giving the following information:

Materials $167,500 $149,080

Work in process 112,230 99,880

Direct labor $301,500

Materials purchased during March 321,600

Factory overhead incurred during March:

Indirect labor 32,160

Machinery depreciation 19,430

Heat, light, and power 6,700

Supplies 5,360

Property taxes 4,690

Miscellaneous costs 8,710

Total overhead= $77,050

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

<u></u>

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

cost of goods manufactured= 112,230 + (167,500 + 321,600 - 149,080) + 301,500 + 77,050 - 99,880

cost of goods manufactured= $730,920

You might be interested in
Robert bought 10 shares of Apex Company for $18 each and later sold all of them at $17 each. This transaction resulted in what t
ikadub [295]

Answer:

capital loss

Explanation:

3 0
3 years ago
Read 2 more answers
Bellswood Jewelers uses an ID card scanner and six-digit code to allow entry into their jewelry vault. The six-digit code is the
erastova [34]

Answer:

Violate Establishment of responsibility

Explanation:

Establishment of responsibility is an characteristic of control such as internal related methods,measures adopted within an organization to safeguard assets and enhance the reliability of accountability, increase efficiency of operations,etc and which is used for assigning of responsibility to an individuals i.e when only ONE person is responsible for a given task.

Bellswood Jewelers makes used of the principle of establishment of responsibility in it operations.

The salesperson who sees another salesperson’s ID card lying unattended in the break room, and then make uses of the card to enter the vault and steal jewelry worth $36,840 had violated the establishment of responsibility of Bellswood

7 0
3 years ago
the loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is
san4es73 [151]

Answer:

$60

Explanation:

According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.

As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.

6 0
3 years ago
A customer buys 1,000 shares of XYZZ stock in a margin account and pays the required 50% margin on settlement date. The customer
expeople1 [14]

Answer:

This request cannot be honored because the securities must be paid for, in full, to process a transfer and ship request

Explanation:

7 0
3 years ago
The restaurant's total cost is a mixed cost that depends on customers served. The restaurant's management uses the high-low meth
harina [27]

Answer:

$29,390

Explanation:

For computing the total cost first we have to determine the variable cost per customer and the fixed cost which is shown below:

Variable cost Per Customer is

= (High total cost - low total cost) ÷ (high number of customer served - low cost of customer served)

= ($28,934 - $28,241) ÷ (14,100 - 11,214)

= $0.24

Now

Fixed cost is

= High cost - (high number of customer served × variable cost per customer)

= 28,934 - (14,100 × 0.24)

= $25,550

So, the total cost for 16,000 customers is

= Fixed cost + variable cost

= $25,550 + (16,000 × $0.24)

= $29,390

7 0
3 years ago
Other questions:
  • When defining its market segments, the xyz company identifies groups based on characteristics such as age, gender, income, and e
    9·1 answer
  • Please tell us if there is an abstraction level of technology that you are particularly interested in
    6·2 answers
  • A C corporation earns $ 8.80 per share before taxes. The corporate tax rate is​ 39%, the personal tax rate on dividends is​ 15%,
    6·1 answer
  • How do employees and managers know what decision-making authority they have regarding firm assets?
    11·1 answer
  • Measures that help to solve economic problems are called ​
    15·1 answer
  • OSHA standards appear in the ___________ and are then broken down into ____________.
    8·1 answer
  • Match the scenarios with the economic concepts they illustrate.
    14·2 answers
  • A stock has an HPR of 9%. The expected dividend yield is 3%.
    12·1 answer
  • An accounts receivable ledger:
    10·1 answer
  • Amazon is considered one of the best digital marketers and is known for establishing relationships with customers. The company t
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!