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musickatia [10]
3 years ago
12

Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $ 29,000 $ 31,

000 Work in process $ 17,000 $ 19,000 Finished goods $ 33,000 $ 48,000 Additional information: Raw materials purchases $ 67,000 Direct labor cost $ 92,000 Manufacturing overhead cost incurred $ 60,000 Indirect materials included in manufacturing overhead cost incurred $ 8,400 Manufacturing overhead cost applied to Work in Process $ 59,000 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:
Travka [436]3 years ago
6 0

Answer:

$205,600

Explanation:

The computation of the cost of goods manufactured is shown below

= Direct material used + Direct labor used + Manufacturing Overhead

where,

The direct material used

= Beginning raw material + purchase of raw material - ending raw material - Indirect materials included in manufacturing overhead cost incurred

= $29,000 + $67,000 - $31,000 - $8,400

= $56,600

Manufacturing Overhead would be

= Manufacturing overhead + Beginning work-in-process - Ending work-in-process

= $59,000 + $17,000 - $19,000

= $57,000

So, the cost of goods manufactured is

= $56,600 + $92,000 + $57,000

= $205,600

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Answer:

6%

Explanation:

Given the following :

Amount of bond issued = $10,000,000

Cash paid = $300,000

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$300,000 / $10,000,000

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0.03 * 100%

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Therefore, annual rate of interest :

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3 years ago
How fast does q 500 Hz wave travel if its wavelength is 0.5m
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Hope this helps!

6 0
3 years ago
A manufacturer reports the following costs to produce 10,000 units in its first year of operations:
rewona [7]

Answer:

Option (C) is correct.

Explanation:

Variable overhead per unit:

= Variable overhead ÷ Total units produced

= $70,000 ÷ 10,000

= $7 per unit

Fixed overhead per unit:

= Fixed overhead ÷ Total units produced

= 120,000 ÷ 10,000

= $12 per unit

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= 10 + 6 + 7 + 12

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Read 2 more answers
If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with re
Naddika [18.5K]

Answer:

The correct answer is True

Explanation:

In calculating the equivalent units with respect to labor,the physical units at the start of the period is multiplied by the percentage of completion.

In other words, the equivalent units is shown thus:

Equivalent units =100000 units*20%

Equivalent units =20000 units

This implies that labor has carried  out 20% of the work required to transform the 100000 units into finished products,since only 20% work is completed, the remaining 80% is expected in the next period.

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3 years ago
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