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vivado [14]
3 years ago
9

Suppose a bakery reports this​ information: beginning raw materials inventory $4,000 ending raw materials inventory 3,000 beginn

ing work-in-process inventory 3,000 ending work-in-process inventory 2,000 beginning finished goods inventory 2,000 ending finished goods inventory 4,000 direct labor 29,000 purchases of raw materials 99,000 manufacturing overhead 21,000 what is the cost of direct materials​ used?
Business
1 answer:
photoshop1234 [79]3 years ago
6 0
To calculate cost of direct materials used, you take Purchases of raw materials and subtract the change in raw materials. The idea is that the cost of raw materials used will be however much raw materials decreased during the period plus the purchase of raw materials.  Beginning raw materials is 4000, and ending raw materials is 3000, a change of -1000. Purchases of raw materials were 99,000. The Cost of Direct Materials is 99,000 - (-1000) = 100,000. 
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True According to the quantity theory of money, if the amount of money in an economy doubles, all else equal, price levels will also double.

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2 years ago
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Answer:

1. Prepare an income statement for Allstar for the past month.

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Sales                              $ 410,000

Commission Cost          ($ 50,000)

Technology Cost           ($ 75,000)

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Admin expenses             ($ 35,000)

Net profit                          $ 40,000

* In absence of information it is assumed that research and development costs of $200,000 meet defination of expense as per accounting standard (IAS 38).

2. Briefly explain why Allstar's income statement has no line for cost of goods sold.

As per question Allstars is a service oriented company. In services oriented company there is no good that company is manufacturing and selling. So there will not be any cost of good sold line item in income statement.

6 0
3 years ago
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Answer:

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I hope this helps.

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Answer:

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It is also important to know that currently, the World Trade Organization has 156 member countries.

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