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Fudgin [204]
3 years ago
6

Weber Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Supporting records sh

ow that (a) the Assembly Department used $24,000 of raw materials and $35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
lys-0071 [83]3 years ago
7 0

Answer:

WIP assembly 56,000 debit

WIP Finishing 40,000 debit

Factory Overhead 96,000 credit

Explanation:

<u>Assembly</u>

DM 24000

DL 35000

FO 35,000 x 160% = 56,000

<u>Finishing</u>

26000

25000

FO 25,000 x 160% = 40,000

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Pauley Company needs to determine a markup for a new product. Pauley expects to sell 22,000 units and wants a target profit of $
Sever21 [200]

Answer:

variable markup % = 60%

Explanation:

total units sold 22,000

total costs associated with selling the 22,000 units:

variable production costs $18 x 22,000 = $396,000

variable S&A costs $13 x 22,000 = $286,000

fixed overhead = $20,500

fixed S&A = $36,700

total costs = $739,200

total cost per unit = $33.60

selling price = $33.60 + $16 = $49.60

markup percentage = [(sales price - unit cost) / unit cost] x 100

the total markup % = [49.60 - 33.60) / 33.60] x 100 = 47.62%

but since we are going to calculate the markup percentage solely based on variable costs, then:

variable cost per unit = $31

selling price = $49.60

the variable markup % = [49.60 - 31) / 31] x 100 = 60%

8 0
3 years ago
All of the following statements are true EXCEPT:_________.
ale4655 [162]

Answer:

D. the demand for Nike running shoes is less elastic than the demand for shoes.

Explanation:

In this the substitutes would be more for the particular brand rather than the normal running shoes. Since the demand of running shoes might be less elastic as compared to the demand of nike running shows because the consumer shifted from the nike to other brand that are popular. Plus, the elasticity of demand for running shoes is considered to be inelastic as there is many subsitutes

So, the option d is correct

6 0
3 years ago
Mary Walker, president of Rusco Company, considers $23,000 to be the minimum cash balance for operating purposes. As can be seen
scoundrel [369]

Answer:

Cash Basis adjustments -12,000

Explanation:

Adjustments to convert company's income statement to cash basis:

Depreciation Expense $20,000

Gain on sale of long term Investment - $ 10,000

Loss on sale of equipment $2,000

Increase in Account receivable -$40,000

Decrease in Prepaid Expense $4,000

Increase in Inventory -$50,000

Increase in Accounts Payable $63,000

Decrease in Accrued Liability -$9,000

Increase in Deferred Tax Payable $8,000

6 0
3 years ago
Total quality management theorizes that if workers are more responsible, they will ______.
Mkey [24]
A. Increase oveeall quality
8 0
3 years ago
Read 2 more answers
A sound principle to follow in demand forecasting is to
Vaselesa [24]

One of the most important principle in this regard is the appropriate product history which effects the future demand of the product.

<u>Explanation:</u>

Demand forecasting is to make predictions and forecast the demand of the product that has been produced by a particular firm. Since the demand has to be forecasted and predicted, a lot o factors which might be controllable and might be uncontrollable factors have to be taken in mind to forecast the demand.

The things to be kept in mind in this regard are the history of the product where previous sales will affect the prediction of the future demand, the promotions of the product, the trends and so on.

7 0
2 years ago
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