The lowest tier of the federal court system is the:

Industries is calculating its Cost of Goods Manufactured at year-end. Sharpland's accounting records show the following:

devlian [24]

Answer:

cost of goods manufactured= $334,000

Explanation:

Giving the following information:

Beginning Raw Materials = $13,000

Ending Raw Materials = $15,000

Direct material purchased= $51,000

Direct labor for the year totaled $131,00

Manufacturing overhead= $153,000.

The Work in Process Inventory account:

beginning balance of $24,000

ending balance of $23,000

<u>To calculate the total manufacturing cost, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 24,000 + (13,000 + 51,000 - 15,000) + 131,000 + 153,000 - 23,000

cost of goods manufactured= $334,000

7 0

3 years ago

What are the two basic requirements to support the declaration of a cash dividend? What are the effects of a cash dividend on as

artcher [175]

Two basic requirements to support the declaration of a cash dividend are:-

1) Retained earning accounts should have a positive balance greater than dividends, as dividend can be issued only from free reserves.

2) the cash account has a balance greater than the amount of dividend declared, as we have to pay cash for dividend in the near future

Cash dividends affect cash and equity on the balance sheet. Retained earnings and cash are deducted by the sum of dividends. Equity dividends do not affect a company's liquidity, only the equities section of the balance sheet.

Learn more about Cash dividends here:brainly.com/question/20374943
#SPJ4

6 0

2 years ago

Bob is a stay-at-home father of two toddlers during the day while his wife is at work. Now, Bob would like to work at least part

dolphi86 [110]

B. Work/life balance so he can spend time with his children

6 0

3 years ago

Concord Company sells merchandise on account for $3300 to Pharoah Company with credit terms of 1/10, n/30. Pharoah Company retur

Oksi-84 [34.3K]

Answer:

Dr Cash $825

Cr Sales Returns and Allowances $800

Cr Sales Discounts $25

Explanation:

Preparation of the journal entry that Concord Company make upon receipt of the check

Dr Cash $825

($800+$25)

Cr Sales Returns and Allowances $800

Cr Sales Discounts $25

(To record receipt of the check)

Sales discount=(Sales Price -Sales return) × 1%

Sales discount=($3300 - $800) × 1% = $25

5 0

3 years ago

Marigold Corp. reported the following year-end information: beginning work in process inventory, $90000; cost of goods manufactu

Stels [109]

Answer:

=$854,000

Explanation:

The cost of goods sold is the expense incurred by a manufacturing firm when making goods to be sold to customers. It is calculated using the formula.

Cost of goods sold = Beginning Stock plus purchases/ cost of goods manufactured minus ending stock

Marigold Corp:

Beginning stock: $162,000

Ending stock: $174,000

cost of goods manufactured, $866000;

cost of goods sold =

$162,000 + 866,000 -$174,000

=$854,000

7 0

4 years ago