Answer:
Cooperatives
Explanation:
Cooperatives are people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations.
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Hi there
First find Predetermined oH rate
Predetermined oH rate is
total estimated overhead divided by
estimated direct labor
Predetermined oH rate=
450,000÷180,000
=2.5
the amount of overhead to be allocated to finished goods inventory if there is $20,000 of total direct labor cost in the jobs in the finished goods inventory is
2.5×20,000
=50,000. ...answer
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Answer:
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Walter Co. is a manufacturer because it uses raw materials, and has a stock of merchandise inventory, work-in-progress inventory, and finished goods inventory. The current assets of Walter Co. will be:
Current Assets:
Cash 6,000
Inventories
Raw materials inventory 21,000
Work in progress inventory 40,000
Finished goods inventory 25,000
Merchandise inventory 48,000
Total inventory 1,34,000
Other assets
Accounts receivable 41,000
Prepaid expenses 1,000
Current assets 2,22,000
A manufacturing company is a company that takes in raw materials processes the raw materials and then sells the finished goods manufactured in the market. So the current assets section of the balance sheet of Walter Co. is given which will be written on the right side of the balance sheet.
Learn more about manufacturing companies here:
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