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
Ket [755]
3 years ago
7

A company incurred the following costs: Selling and administrative expenses: $45,000; Direct materials: $15,000; Income tax expe

nse: $10,000; Direct labor: $30,000; Factory overhead: $5,000. Total manufacturing costs reported on the schedule of cost of goods manufactured are $
Business
1 answer:
Westkost [7]3 years ago
5 0

Answer:

$50,000

Explanation:

<em>Manufacturing cost is sum of direct material plus direct labour and manufacturing overhead</em>

Direct material is the cost of all materials directly consumed for production purpose.

Direct labour is the cost of labour hours used for directly for production purpose

Manufacturing cost = 15,000+30,000 + 5000

                              =$50,000

You might be interested in
Companies that use job-order costing ______. Multiple choice question. make unique products use a series of standardized process
tamaranim1 [39]

Companies that use job-order costing make unique products.

<h3>What is job-order costing?</h3>

Job order costing can be defined as a costing method that is used to calculate the cost of each unique item  produce or the cost of producing each unique product that is different from the ones in the market.

Example companies can make use of job-order costing when they produce a unique bag or shoe for their customer.

Since this product they produce for this customer is unique, the manufacturer can tend to use job order costing to determine the price or selling price they will to charge the customer.

A company can use a job order cost method if it produce products with unique characteristics.

Inconclusion companies that use job-order costing make unique products.

Learn more about  job-order costing here: brainly.com/question/24516871

7 0
2 years ago
When a classified balance sheet is prepared, merchandise inventory is:
adell [148]

Answer:

The correct answer is (C) Reported as a current asset.

Explanation:

The current asset, also called a current or liquid asset, is the asset of a company that can become liquid (become money) in less than twelve months. For example, bank money, stocks, and financial investments.

We can also understand the current asset as all those resources that are necessary to carry out the day-to-day activities of the company. It is known as current because it is a type of asset that is in continuous movement, can be sold, used, converted into liquid money or delivered as payment without too much difficulty.

8 0
3 years ago
At the beginning of 2020, Concord Company acquired a mine for $3,251,600. Of this amount, $124,000 was ascribed to the land valu
Sav [38]

Answer:

A. $737,520

B. $530,320

Explanation:

a. Computation for the total amount of depletion for 2020.

First step is to calculate the Depletion Rate

Depletion Rate = ($3,251,600 - $124,000 + $49,600 + $210,800)/12,100,000

Depletion Rate= $3,388,000/ 12,100,000

Depletion Rate= 0.28

Now let calculate the total amount of depletion for 2020.

2020 Total amount of depletion= 0.28 × $2,634,000

2020 Total amount of depletion= $737,520

Therefore the total amount of depletion for 2020 is $737,520

B. Computation for the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020.

Expense amount charged= ($737,520/$2,634,000)* 1,894,000

Expense amount charged=0.28 *1,894,000

Expense amount charged=$530,320

Therefore the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020 is $530,320

7 0
2 years ago
On January 2, 2009, L Co. issued at par $20,000 of 4% bonds convertible in total into 1,000 shares of L's common stock. No bonds
MrRissso [65]

Answer:

The correct answer is $1.2 per share.

Explanation:

According to the scenario, the computation of the given data are as follows:

Interest expense of Bonds = $20,000 × 4% = $800

Now, Interest expense of Bond, After tax = $800 × ( 1 - 50%) = $800 × 0.50

= $400

So, we can calculate the diluted earning by using following formula:

Diluted Earning = (Net income + Interest expense after tax) ÷ Total outstanding shares outstanding

Where, Total outstanding shares = 1,000 shares + 1,000 shares = 2,000 shares

By putting the value, we get

Diluted earning = ($2000 + $400 ) ÷ 2,000

= $1.2 per share

4 0
3 years ago
Which of the following statements explains what information bank customers will most typically receive when securing loans?
SIZIF [17.4K]

Answer:

<u><em>A.</em></u>

<u><em>The loan will be set for a given range, and the bank will establish a rigid payment plan</em></u>

Explanation:

Hope this helps:)

7 0
3 years ago
Other questions:
  • The palmer acres inn is trying to determine its break-even point during its off-peak season. the inn has 50 rooms that it rents
    8·1 answer
  • Liabilities and owner's equity of a company are $150,000 and $30,000, respectively. Determine assets using the accounting equati
    12·1 answer
  • To satisfy MSRB disclosure requirements for new municipal issues, a customer would be provided with a copy of the: A legal opini
    15·1 answer
  • You invested $1,500,000 with a market-neutral hedge fund manager. The fee structure is 2/20, and the fund has a high-water-mark
    13·1 answer
  • Mrs. and Mr. Strange, who are filing a joint return, have adjusted gross income of $50,000 in 2019. During the tax year, they pa
    5·1 answer
  • Some companies want to get their products into as many outlets as possible. These companies understand that the more exposure th
    9·1 answer
  • The lower the ___, the less interest you will pay.
    11·1 answer
  • 4) The management of Stanforth Corporation is investigating automating a process. Old equipment, with a current salvage value of
    9·1 answer
  • Boyd Docker engaged in the following activities in establishing his photography studio, SnapShot!:
    6·1 answer
  • O'Reilly Beverage Company reported net income of $650,000 for 2021. In addition, the company deferred a $60,000 pretax loss on d
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!