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scoundrel [369]
3 years ago
14

TB MC Qu. 3-209 Chavez Corporation reported the ... Chavez Corporation reported the following data for the month of July: Invent

ories: Beginning Ending Raw materials $ 41,000 $ 37,000 Work in process $ 23,000 $ 31,000 Finished goods $ 39,000 $ 54,000 Additional information: Raw materials purchases $ 73,000 Direct labor cost $ 98,000 Manufacturing overhead cost incurred $ 66,000 Indirect materials included in manufacturing overhead cost incurred $ 10,800 Manufacturing overhead cost applied to Work in Process $ 65,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is:
Business
1 answer:
ss7ja [257]3 years ago
5 0

Answer:

The cost of goods manufactured for July is $ 232,000

Explanation:

<u>Raw Materials Inventories Utilized In Production</u>

Beginning Raw materials        $ 41,000

<em>Add</em> Purchases                        $ 73,000

Less Ending  Raw materials   ($ 37,000)

Used in Production                  $ 77,000

<u>Cost of goods manufactured</u>

Raw Materials                              $ 77,000

Direct labor cost                          $ 98,000

Manufacturing overhead            $ 65,000

Total Cost of Manufacturing     $ 240,000

<em>Add </em>Opening Work in process  $ 23,000

<em>Less</em> Ending Work in process    ($ 31,000)

Cost of goods manufactured   $ 232,000

Not that Manufacturing overhead are included to the amount Applied in the Manufacturing Cost

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Explain why America has a debt problem.
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2 years ago
Parne Two large American beer producers have decided to merge and seek government approval. They claim that by joining forces th
leonid [27]

Answer:

The correct answer is letter "A": Beer prices will go down.

Explanation:

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5 0
3 years ago
For Year 2, Etzkorn Corporation's sales were $1,480,000, its gross margin was $580,000, its net operating income was $63,714, it
mixer [17]

Answer:

Return on equity = Net income/Shareholders' equity x 100

                            = $29,600/$829,000 x 100

                            = 3.57%

The company's return on equity is closest to 3.67%

Explanation:

Return on equity is the ratio of net income to shareholders' equity. The net income = $29,600 and shareholders' equity = $829,000. The division of net income by shareholders' equity gives return on equity.

6 0
3 years ago
Last year, Courtney Company reported sales of $640,000, a contribution margin of $160,000, and an operating loss of ($40,000). B
Elanso [62]

Answer:

 Break-even sales         =  $800,000.

Explanation:

<em>The beak-even point is the units of products to be sold or number of customers to be served to enable a business to cover exactly its total cost from the revenue. At the break-even point, the business makes no profit or no loss because the contribution from sales exactly equals the total fixed cost</em>

<em>Break-even in sales revenue = Total fixed cost/Contribution margin</em>

<em>Contribution margin (%) = Contribution/ sales ×  100</em>

                                        = 160,000/640,000

                                        = 0.25 ×  100

                                        = 25%

<em>Fixed cost =   Contribution -   operating income</em>

                                    = 160,000- -( 40,000)

                             = 160,000 + 40,000

                             = 200,000

<em>Break-even point sales = 200,000/25%</em>

                                       =  $800,000.

3 0
3 years ago
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