Answer:
Total manufacturing costs added to production $186,000
Explanation:
The computation of the total manufacturing cost to be added is given below:
Raw materials,beginning $27,000
Add: Purchases of direct materials $36,000
Less: Raw materials,ending -$21,000
Direct materials used $42,000
Direct labor $60,000
Factory overhead costs $84,000
Total manufacturing costs added to production $186,000
Answer: B - 2.09 years
Explanation:
Discounted payback period calculates how long it takes for the amount invested in a project to be recovered from the cash flows generated from the project.
The calculation used in getting the answer is found in the attachment.
Answer:
EPS = $4.50
diluted EPS = $2.46
Explanation:
no option is correct since EPS = $4.50, and the rest of the options are all higher amounts. Diluted EPS are always smaller than EPS.
common stock outstanding = 1,000 stocks
bonds shares (diluted) = 1,000 stocks
net income = $4,500
bond interest = $10,000 x 6% x (1 - 30%) = $420
diluted earnings per share = ($4,500 + $420) / (1,000 shares + 1,000 shares) = $4,920 / 2,000 shares = $2.46
The document which establishes an initial record of the receipt of an inventory is THE RECEIVING REPORT.
The receiving report is usually used by a business to record the details of the products that are received from suppliers. The record documents what is owned to supplier based on the number of goods accepted and the ones that are returned.<span />
Answer:
Explanation:
For passing the journal entry, first, we have to compute the predetermined overhead rate to know that whether the overhead is under applied or over applied.
Predetermine overhead rate = Estimated overhead cost ÷ direct labor cost
= $118,500 ÷ $125,600
=0.94
Now, we can compute the under applied or over applied overhead which is shown below:
= Actual direct labor cost × Pre determined overhead rate - actual overhead
= $115,800 × 0.94 - $108,000
= $108,852 - $108,000
= $852
Since the amount is in positive, so it is over applied overhead and the journal entry is given below:
Manufacturing overhead A/c Dr $852
To Cost of goods sold $852
(Being over applied overhead closed)
