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marin [14]
3 years ago
7

Wavy Company had a beginning work in process inventory balance of $ 32 comma 900$32,900. During the​ year, $ 54 comma 700$54,700

of direct materials was placed into production. Direct labor was $ 64 comma 100$64,100​, and indirect labor was $ 20 comma 400$20,400. Manufacturing overhead is allocated at 120120​% of direct labor costs. Actual manufacturing overhead was $ 87 comma 000$87,000​, and jobs costing $ 225 comma 500$225,500 were completed during the year. What is the ending work in process inventory​ balance?
Business
1 answer:
vampirchik [111]3 years ago
3 0

Answer:

The ending work in process inventory​ balance is $3,120

Explanation:

Ending work in process inventory =

Beginning Work in progress inventory + Direct materials + Direct labor + Manufacturing overhead (applied) – Cost of goods manufactured

Beginning Work in progress inventory =$32,900

Direct materials = $54,700

Direct labor = $64,100​

Manufacturing overhead (applied) = 120% * $64,100 = $76,920

Cost of goods manufactured = $225,500

Ending work in process inventory = $32,900 + $54,700 + $64,100 + $76,920 - $225,500

= $3,120

Therefore, The  ending work in process inventory​ balance is $3,120

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Unfavorable - if the actual cost is more than the budgeted cost, the difference is an extra expenditure for the company.

Flexible budget;

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The report showing the Activity and Spending  Variances for march is given in the file attached below, in other not to cause confusion. Thank you.

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What are the four challenges associated with telecommuting mentioned in the article​
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It decreases the interaction of humans. It also blurs work and personal life. It also create difficulties in demonstrating workload. It enables technology to get in the way.

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What do firms stand to gain by increasing their market power
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Retreaded Tires plans to save $23,500, $24,500, $26,500, and $28,000 at the end of each year for Years 1 to 4, respectively. If
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Answer:

<u><em></em></u>

  • <u><em>Option C. $105,608.11</em></u>

<u><em></em></u>

Explanation:

Basis:

  • Interest compounded monthly
  • rate = 0.021/12 = 0.00175

1. Year 1:

All the figures in dollars.

  • Initial balance: 0
  • Initial balance + interest = 0
  • Deposit at the end of the year: 23,500
  • Final balance: 23,500

2. Year 2:

All the figures in dollars.

  • Initial balance: 23,500
  • Initial balance + interest: 23,500 (1 + 0.00175)¹² = 23,998.28
  • Deposit at the end of the year: 24,500
  • Final balance: 24,500 + 23,998.28 = 48,498.28

3. Year 3:

All the figures in dollars.

  • Initial balance: 48,498.28
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  • Deposit at the end of the year: 26,500
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4. Year 4:

All the figures in dollars.

  • Initial balance: 76,026.60
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  • Deposit at the end of the year: 28,000
  • Final balance: 28,000 + 77,638.62 = 105,638.62

Assuming differences in rounding intermediate values, the answer is the option C.

3 0
3 years ago
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