1. Which is most true about the career decision-making process?

Here are selected data for Creek Corporation: Cost of materials purchases on account $ 68 comma 500 Cost of materials requisiti

Varvara68 [4.7K]

Answer:

Thus, Work in process inventory (Ending) = $23,840

Explanation:

Below is the Schedule of Cost of Goods Manufactured:

Cost of materials requisitioned = 51,200

Manufacturing overhead applied = 92,640

Direct materials used = 46,700

Indirect materials = 4,500

Direct labor = 77,200

Total manufacturing cost = 216,540

Work in process inventory, beginning = 30,300

Work in process inventory, ending = 23,840

Cost of goods manufactured = 223,000

Applied Manufacturing overhead = Direct labor cost x 120%

= 77,200 x 120%

Applied Manufacturing overhead= $92,640

Cost of manufactured goods = Total manufacturing cost + Work in process inventory (beginning) - Work in process inventory (Ending)

223,000 = 216,540+30,300 - Work in process inventory (Ending)

Work in process inventory (Ending) = (216,540 +30,300) - 223,000

= 246,840 - 223,000

= 23,840

Thus, Work in process inventory (Ending) = $23,840

8 0

3 years ago

Read 2 more answers

Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces:

Natali [406]

Answer:

Pro Forma Income Statement 30,000 units

Sales($90 * 30,000) $2,700,000

Minus Variable Costs $1,620,000

- Direct Material ($18 *30,000)=540,000

- Direct Labor ($9*30,000) =270,000

- Overhead cost(12.60*30,000)=378,000

- Selling and admin (14.40*30,000)=432,000

Contribution $1,080,000

minus Fixed Costs $378,000

- Manufacturing costs = 270,000

- Selling and admin cost = 108,000

Net Income $702,000

FLEXIBLE BUDGET INCOME STATEMENT

29,000 UNITS 31,000 UNITS

Sales $2,610,000 $2,790,000

Minus Variable costs $1,566,000 $1,674,000

Direct Material $522,000 $558,000

Direct labor $261,000 $279,000

Overhead cost $365,400 $390,600

Selling and Admin cost $417,600 $446,400

Contribution $1,044,000 $1,116,000

Minus Fixed Cost $378,000 $378,000

- Manufacturing cost $270,000 $270,000

- Selling and Admin cost $108,000 $108,000

Net Income $666,000 $738,000

Details 30,000 Units 31,000 Units Variance

Sales $2,700,000 $2,790,000 $90,000 F

Direct Material $540,000 $558,000 $18,000 U

Direct Labor $270,000 $279,000 $9,000 U

Overhead cost $378,000 $390,600 $12,000 U

Selling and Admin $432,000 $446,400 $14,400 U

Total $36,600 F

Explanation:

4 0

3 years ago

Suppose there is a shortage in a local market for clean drinking water (assume this market is free and competitive). Which of th

andrew-mc [135]

Answer:

The correct answer is letter "B": The price will not increase but firms will increase the quantity supplied to promote the social interest.

Explanation:

Perfectly competitive markets are characterized by having companies offering an undifferentiated product, being price takers because firms posses a small market share which does not allow them to have a major influence in the price, and by free entry and exit of competitors.

Then, <em>if there is a shortage of clean drinking water in a local market that is perfectly competitive, the shortage would not last much since new producers would enter the market to process water so it can be offered purified. As drinking water is a basic good, the number of organizations entering the market is likely to be substantial.</em>

4 0

3 years ago

Fresh Foods, a large restaurant chain, needed to determine if it would be cheaper to produce 5,000 units of its main food ingred

ICE Princess25 [194]

Answer:

Fresh Foods

Make or Buy Decision:

1. Make the ingredient in-house.

2. Make in-house is more cost effective by $3,000 ($90,000 - 87,000)

3. If 40% of the fixed overhead can be avoided if the ingredient is purchased externally:

Total cost:

To make in-house = $87,000

To buy = $78,000 ($60,000 + $30,000 x 60%)

To buy now becomes more cost effective by $9,000 ($87,000 - 78,000).

Explanation:

a) Management in production companies are always faced with the buy or make decision. For this type of decision making, the appropriate costs to analyze are the differential (incremental) costs. These are costs that make a difference between alternatives.

b) Calculation of cost:

Make Buy

Total Unit

Purchase $60,000

Direct materials $25,000 $5.00

Direct labor 15,000 3.00

Variable manufacturing overhead 7,500 1.50

Variable marketing overhead 9,500 1.90

Fixed plant overhead 30,000 6.00 30,000

Total $87,000 $17.40 $90,000

Total variable costs $57,000 $60,000

6 0

4 years ago

I one to illuminati now plz help me out

r-ruslan [8.4K]

I don't have their number

4 0

4 years ago