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3 years ago

At May 31, 2019, the accounts of Kuhlmann Manufacturing Company show the following:

Business

1 answer:

defon3 years ago

6 0

Answer:

A. $164,200

B. $56,700

Explanation:

KUHLMANN MANUFACTURING COMPANY Cost of Goods Manufactured For the months ended 31st May 2019

May 1

Work in process,$ 14,700

Direct materials used $77,400

Direct labor 50,000

Manufacturing overhead applied 45,000

May 31 Less: Work in process 22,900

Cost of goods manufactured $164,200

Therefore the cost of goods manufactured is $164,200

KUHLMANN MANUFACTURING COMPANY

Cost of Goods Manufactured Schedule For the months ended 31st May 2019

Sales 225,000

May1 finished goods 12,600

Cost of goods manufactured 164,200

Cost of goods available for sales 176,800

May 31 finished goods 8,600

Less: Cost of goods sold 168,300

Gross profit 56,700

Therefore the gross profit is $56,700

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. AEC Company issues common stock that is expected to pay a dividend over the next year of $2 at a stock price of $20 per share

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Answer:

A) 5.0%

Explanation:

AEC Company expects to pay a dividend over the next year of $2 at a stock price of $20 per share, thus the dividend rate over next year = $2/ $20 = 10%

The WACC is 12%, the company is financed by 30% debt and 70% equity, and the cost of debt is 5%;

WACC 12%= 30% x cost of debt 5% + 70% x cost of equity

->Cost of equity = (12% -30%*5%)/70% = 15%

Thus expected growth rate of dividend = Cost of equity 15% - dividend rate over next year 10% = 5%

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3 years ago

Rise ’n Shine Bakeries is a nationwide chain that has plants located throughout the U.S. Top management at Rise ’n Shine believe

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Answer:

The correct answer is letter "B": False.

Explanation:

A decentralized organization is one in which most decisions are taken by low range managers. On the other hand, centralized firms are characterized by following the guidelines of high-level executives. Decentralized companies have the same reporting structure as centralized institutions but each of them working at their hierarchy level.

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3 years ago

The managerial and administrative functions of the federal courts are handled by _____.

padilas [110]

The managerial and administrative functions of the federal courts are handled by the Administrative Office of the United States Courts.

The Administrative Office of the United States Courts (AO) is the administrative agency of the United States federal court system. ... It provides a wide range of administrative, legal, financial, management, program, and information technology services to the federal courts.

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3 years ago

As part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100 and on which accumulated dep

Delicious77 [7]

Answer: $47,900

Explanation:

From the question, we are told that part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100 and on which accumulated depreciation of $72,075 has been recorded.

We are further told that assuming similar equipment would cost $164,400 to replace and the partners agree on a valuation of $47,900 for the contributed equipment, we are told to calculate the amount that would be debited to the equipment account.

It should be noted that in a partnership, when the partners contribute an asset, during the recording of the asset in the partnership book, it is recorded based on the agreed valuation price.

In this case, the partners agree on a valuation of $47,900 for the contributed equipment. Therefore, the amount that should be debited to the equipment account will be $47,900.

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3 years ago

During 2018, TRC Corporation has the following inventory transactions.

Soloha48 [4]

Answer:

Results are below.

Explanation:

Giving the following information:

Jan. 1 Beginning inventory 48 $40 $1,920

Apr. 7 Purchase 128 42 5,376

Jul. 16 Purchase 198 45 8,910

Oct. 6 Purchase 108 46 4,968

For the entire year, the company sells 427 units of inventory for $58 each.

Ending inventory units= 482 - 427= 55

1)

Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units remaining in inventory.

Ending inventory= 55*46= $2,530

COGS= 48*40 + 128*42 + 198*45 + 53*46= $18,644

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,644= $6,122

2)

Under the LIFO (last-in, first-out) method, the ending inventory is calculated using the cost of the firsts units remaining in inventory.

Ending inventory= 48*40 + 7*42= $2,214

COGS= 108*46 + 198*45 + 121*42= $18,960

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,960= $5,806

3)

First, we need to calculate the weighted-average cost:

weighted-average cost= (40 + 42 + 45 + 46) / 4= $43.25

Ending inventory= 55*43.25= $2,378.75

COGS= 427*43.25= $18,467.75

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,467.75= $6,298.25

6 0

3 years ago