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
Leokris [45]
4 years ago
7

Work in process inventory on December 31 of the current year is $44,000. Work in process inventory increased by 60% during the y

ear. Cost of goods manufactured amounts to $275,000. The total manufacturing costs incurred in the current year are
Business
1 answer:
andreyandreev [35.5K]4 years ago
7 0

Answer:

Total manufacturing cost will be $291500

Explanation:

We have given work in progress inventory on December 31 of current year is $44000

It is given that work in progress inventory is increased by 60% during the year

So in beginning work in progress inventory =\frac{44000}{1.6}=27500 $

We have given cost of goods manufactured = $275000

Cost of goods manufactured = work in progress inventory + total manufacturing costs incurred - Ending work in progress inventory

So 275000 = 27500 + total manufacturing costs incurred  - 44000

Total manufacturing costs incurred = 275000 - 27500 +44000 = $291500

You might be interested in
Cullumber Company incurred $800000 of research and development costs in its laboratory to develop a new product. It spent $15000
cricket20 [7]

Answer:

$212,000

Explanation:

Calculation to determine the total amount that should be debited to Patents through July 31, 2017

Using this formula

Total amount debited to Patents=Legal fees for patent+Legal fees in a successful defense of patent

Let plug in the formula

Total amount debited to Patents=$150,000+$62,000

Total amount debited to Patents=$212,000

Therefore the total amount that should be debited to Patents through July 31, 2017 is $212,000

4 0
3 years ago
A sector is a diversified group of companies.<br> True or False
timurjin [86]

Explanation:

A diversified company is a type of company that has multiple unrelated businesses or products. A company may decide to diversify its activities by expanding into markets or products that are related to its current business.

For example, an auto company may diversify by adding a new car model or by expanding into a related market like trucks.

Diversified Industries covers a wide range of sub-sectors including Automotive, Transport & Logistics, Building Materials & Construction, Capital Goods, Business Services, Metals and Oil Field Services. Even the way industrial products are developed, manufactured and commercialized is changing. I would say the answer is <u>True</u>

5 0
3 years ago
Price elasticity of demand along a linear, downward-sloping demand curve increases as price falls.
Ksivusya [100]
False.

It DECREASES. The midpoint of the demand curve will be unitary elastic, whereas above it, it will be elastic and below it, it will be inelastic.
8 0
3 years ago
Organizational core values are the answer to which of the following questions? How do we accomplish our goals? Which of the valu
Ipatiy [6.2K]

Answer: The correct answer is “How do we accomplish our goals?”

Explanation: An organization’s core values are the fundamental beliefs of the organization. The are the guiding principles that guide the activities and employees of the organization. They answer the question “How do we accomplish our goals?”

8 0
3 years ago
For more than a thousand years, the Catholic Church required its members to abstain from meat on Fridays. Catholics customarily
bonufazy [111]

Answer:

Option (b) is correct.

Explanation:

Before 1966, Catholics were restricted from consuming meat on Fridays and they ate fish on Fridays. But after 1966, there were no such restrictions are there and they are free to eat meat on Fridays, now Catholics also consume meat on Fridays.

This will result in an increase in the demand for meat and demand for fish decreases. So, this will shift the demand curve of fish leftwards and demand curve of meat rightwards.

4 0
3 years ago
Other questions:
  • Anchor Company purchased a manufacturing machine with a list price of $85,000 and received a 2% cash discount on the purchase. T
    13·1 answer
  • Investors require a return of 13 percent on the stock for the first three years, a return of 11 percent for the next three years
    14·1 answer
  • On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per share. Journalize the issuance of th
    14·1 answer
  • Which of the following is not given as a reason for the high level of merger activity in the u.s.? synergistic benefits arising
    8·1 answer
  • Wehrs Corporation has received a request for a special order of 8,600 units of product K19 for $45.50 each. The normal selling p
    15·1 answer
  • E-Eyes just issued some new preferred stock. The issue will pay an annual dividend of $20 in perpetuity, beginning 20 years from
    7·1 answer
  • Whats the percent value of a $150 payment made every year forever at an interest rate of 73%?​
    12·1 answer
  • On November 1, Year 2, Stokes Company paid Eastport Rentals $32,000 for a 12-month lease on warehouse space. Required Record the
    14·1 answer
  • Find the duration of a 6% coupon bond making annual coupon payments if it has three years until maturity and a yield to maturity
    11·1 answer
  • A subsidiary of Porter Inc., a U.S. company, is located in France. The functional currency of this subsidiary is the dollar. The
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!