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nordsb [41]
3 years ago
11

Primare Corporation has provided the following data concerning last month’s manufacturing operations.

Business
1 answer:
musickatia [10]3 years ago
5 0

Explanation:

                                       Primare Corporation

                                 Cost of Goods Manufactured

Beginning work-in-process inventory                                  $56,000

Manufacturing costs:

Direct materials:                                                  

Beginning inventory                                   $12,000

Purchases                                                    $30,000

Materials available                                      $42,000

Less:  Ending inventory                              -$18,000

Direct materials used                                                             $24,000

Less:Indirect materials included in manufacturing overhead -$5,000

Other manufacturing costs                                                  

Direct labor                                                                     $58,0000

Manufacturing overhead applied to work in process $87,000

Less:  Ending work-in-process                                                  $65,000

Cost of goods manufactured                                                    $155,000

b.                                     Primare Corporation

                                 Cost of Goods Sold

Beginning finished goods inventory                                        $35,000

Add: Cost of goods manufactured                                           $155,000

Finished goods available for sale                                             $190,000

Less:  Ending finished goods inventory                                   -$42,000

Unadjusted cost of goods sold                                                  $148,000

Add: Under applied overhead                                                    $4,000

Cost of goods sold                                                                      $152,000

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If an agent injures a third party during the course of employment, to what extent should the employer be held liable? Under what
postnew [5]

Answer:

The employer will be held liable.

Explanation:

If the external agent brings harm or injury to a third party in the course of an employment, the employer is held liable. When a principal directs an agent to commit for a tort or if the principal is aware of the consequences of carrying the instructions of the agent could cause harm or injure the person, then the principal is liable.

It is called direct liability.

The liability for the intentional tort which is imputed to the principal when the agent acts to further the business of the principal.

The agent is personally liable under the following circumstances :

  •   Foreign principal
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Example :

A credit card company hires a sales person and offers a company van to make sales in that area. The sales person uses the office van to official purposes. But one night, he drove the car to a friend's party and while coming he drove over a pedestrian. In this case, the owner of the company will not be held liable as the sales person uses the company van for his personal use while going out for party with his friends. While causing the accident, the sales person was not not using the office van for official purposes and was not tendering official duties at that time.

3 0
3 years ago
The following are budgeted data:Sales (units ) Production (units)April 15,000 18,000May 20,000 19,000June 18,000 16,000Two pound
zmey [24]

Answer:

Total= 36,800 pounds

Explanation:

Giving the following information:

Sales (units ) - Production (units):

May: 20,000 - 19,000

June: 18,000 - 16,000

Two pounds of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs.

Purchases for May= production for the month + desired ending inventory - beginning inventory

Production= 19,000*2 pounds= 38,000 pounds

Desired ending inventory= (16,000*2)*0.2= 6,400 pounds

Beginning inventory= (38,000*0.2)= (7,600)

Total= 36,800 pounds

3 0
3 years ago
Oriole Company was formed on December 1, 2019. The following information is available from Oriole's inventory record for Product
Leokris [45]

Answer:

FIFO Ending Inventory $ 64900

Explanation:

Oriole Company

Date                         Particulars        Units       Unit Cost       Total Cost

January 1, (beginning inventory)    2,000              $15         30,000

January 5,            Purchases:         2,500              $17          42500

January 25,          Purchases:         2,200               $18         39600

February 16,        Purchases:           1,100                 $19        20900

<u>March 15,               Purchases:         2,200              $20        44000</u>

<u>Total                                                10,000                            $ 177000  </u>

A physical inventory on March 31, 2020, shows 3,300 units on hand.

FIFO means first in first out. It is a method of calculating inventory items. In it the first items purchased are sold out first. Following this rulethe ending inventory FIFO can be calculated by moving backwards from March 15 purchases as follows.

FIFO Ending Inventory $ 64900

March 15 Purchases  2,200 units at $20=$ 44000

February 16,Purchases units 1,100 at $19 =$20900

6 0
3 years ago
The management of Krach Corporation would like to investigate the possibility of basing its predetermined overhead rate on activ
Effectus [21]

Answer:

<em>16,800 dollars.</em>

Explanation:

<em>Overhead rate predetermined at availability. </em>

= Approximate overhead processing times / Capacity machine hours.

= $33,600 / 24,000.

= $1.4 per hour on machine.

<em>Cost of Resources not used. </em>

= (Machine hours at capacity - Actual machine hours) x Overhead speed estimated at load.

= ( 24,000 - 12,000) x $1.4.

= 16,800 dollars.

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