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lorasvet [3.4K]
3 years ago
7

Tonneau Corporation had the following information available for October 2018: Work in Process, October 1 $20,000 Materials place

d into production, October 27,500 Direct labor, October 37,500 Factory overhead rate is 150 percent of direct labor costs. Job cost sheets had the following balances: Job Z1 $32,500 Job Z2 55,000 Job Z3 35,000 Job Z4 18,750 Jobs Z3 and Z4 were not completed at the end of December. What is the cost of goods finished during October for Tonneau Corporation
Business
1 answer:
Harlamova29_29 [7]3 years ago
6 0

Answer:

The cost of goods finished during October for Tonneau Corporation is 487,500.

Explanation:

Only two jobs,  Z1 & Z2 are finished during october. so, the cost of goods finished is given by:

cost of goods finished = Cost of Job Z1 + Cost of Job Z2

                                     = $32500 + $55000

                                     = $87,500

Therefore, The cost of goods finished during October for Tonneau Corporation is 487,500.

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Where are the details of skills and qualities required for a post usually found? *
bija089 [108]

Answer:

Personal skills and qualities that employers look for in candidates for ... Overall, employers look for job candidates with strong personal skills because ... They are just as, if not more, important to employers, though you'll need a mix of both. ... two employees utilizing their information technology skills working on fixing a tech ...

Explanation:

8 0
3 years ago
If patricia were to paint her living room alone, it would take 4 hours. her sister naomi could do the job in 5 hours. how long w
Mila [183]

Practicia completes the job in one hour = 1/4

Naoimi completes the job in one hour = 1/5

If Parcticia and Naoimi does it together,let us suppose in x number of hours.

The equation so form is:

(1/4)*x + (1/6)*x = 1 (i.e job finished)

The Least common multiple(LCM) of 4 and 6 = 12

12*(1/4)*x + 12*(1/6)*x = 12*1

Therefore, solving the equation we get,

3x + 2x = 12

5x = 12

x = 12/5

x= 2 2/5 hours or 2.24 hours

Therefore number of hours they took to complete the work is 2 hours and 24 minutes or 2.24 hours.

4 0
3 years ago
[The following information applies to the questions below.]
Zepler [3.9K]

Answer:

The corresponding budgets in column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A are matched in the explanation below

Explanation:

1.) Budgeted Income Statement

E.) Sales Budget

2.) Budgeted Balance Sheet

D.) Payables Budget

3.) Cash Flow Budget

A.) Direct Materials Budget

4.) Cost of Goods Sold Budget

B.) Cost of Goods Sold Budget

5.) Production Budget

C.) Production Budget

5 0
3 years ago
Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek
Ann [662]

Answer:

1 Paid rent for May, $5,000.

Dr Rent expense 5,000

    Cr Cash 5,000

3 Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000.

Dr Merchandise inventory 36,000

    Cr Accounts payable 36,000

4 Paid freight on purchase of May 3, $600.

Dr Merchandise inventory 600

    Cr Cash 600

6 Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000.

Dr Accounts receivable 68,500

    Cr Sales revenue 68,500

Dr Cost of Merchandise Sold 41,000

    Cr Merchandise inventory 41,000

7 Received $22,300 cash from Halstad Co. on account.

Dr Cash 22,300

    Cr Accounts receivable 22,300

10 Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000.

Dr Cash 54,000

    Cr Sales revenue 54,000

Dr Cost of Merchandise Sold 32,000

    Cr Merchandise inventory 32,000

13 Paid for merchandise purchased on May 3.

Dr Accounts payable 36,000

    Cr Cash 36,000

15 Paid advertising expense for last half of May, $11,000.

Dr Advertising expense 11,000

    Cr Cash 11,000

16 Received cash from sale of May 6.

Dr Cash 67,130

Dr Sales discounts 1,370

    Cr Accounts receivable 68,500

19 Purchased merchandise for cash, $18,700.

Dr Merchandise inventory 18,700

    Cr Cash 18,700

19 Paid $33,450 to Buttons Co. on account.

Dr Accounts payable 33,450

    Cr Cash 33,450

20 Paid Korman Co. a cash refund of $13,230 for returned merchandise from sale of May 6. The invoice amount of the returned merchandise was $13,500 and the cost of the returned merchandise was $8,000.

Dr Sales revenue 13,230

   Cr Cash 13,230

Dr Merchandise inventory 8,000

    Cr Cost of Merchandise Sold 8,000

20 Sold merchandise on account to Crescent Co., terms 1/10, n/30, FOB shipping point, $110,0000. The cost of the merchandise sold was $70,000.

Dr Accounts receivbale 110,000

    Cr Sales revenue 110,000

Dr Cost of Merchandise Sold 70,000

    Cr Merchandise inventory 70,000

21 For the convenience of Cresecent Co., paid freight on sale of May 20, $2,300.

Dr Accounts receivable 2,300

    Cr Cash 2,300

21 Received $42,900 cash from Gee Co. on account.

Dr Cash 42,900

    Cr Accounts receivable 42,900

21 Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88,000.

Dr Merchandise inventory 88,000

    Cr Accounts payable 88,000

24 Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000.

Dr Accounts payable 5,000

    Cr Merchandise inventory 5,000

26 Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800.

Dr Sales revenue 7,500

   Cr Cash 7,500

Dr Merchandise inventory 4,800

    Cr Cost of Merchandise Sold 4,800

28 Paid sales salaries of $56,000 and office salaries of $29,000.

Dr Wages expense 85,000

    Cr Cash 85,000

29 Purchased store supplies for cash, $2,400.

Dr Supplies 2,400

    Cr Cash 2,400

30 Sold merchandise on account to Turner Co., terms 2/10, n/30, FOB shipping point, $78,750. The cost of the merchandise sold was $47,000.

Dr Accounts receivable 78,750

    Cr Sales revenue 78,750

Dr Cost of Merchandise Sold 47,000

    Cr Merchandise inventory 47,000

30 Received cash from sale of May 20 plus freight paid on May 21.

Dr Cash 110,100

Dr Sales discounts 2,200

    Cr Accounts receivable 112,300

31 Paid for purchase of May 21, less return of May 24.

Dr Accounts payable 83,000

    Cr Cash 82,170

    Cr Purchase discounts 830

       

I prepared a general ledger for May in an excel spreadsheet that I attached.

Download pdf
5 0
2 years ago
The store where you bought new home furnishings offers you two alternative payment plans. The first plan requires a $4,000 immed
blondinia [14]

Answer:

The nominal annual interest rate is built into the monthly payment plan is 14.4%

Explanation:

E = P×r×(1 + r)n/((1 + r)n - 1)

where:

E is the EMI

p is the Principal

r is the nominal rate

n is the number of periods

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           r = 14.4% P.A

Therefore, The nominal annual interest rate is built into the monthly payment plan is 14.4%

8 0
2 years ago
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