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Katyanochek1 [597]
3 years ago
10

A company reported cost of goods manufactured of 50,000 on the statement of cost of goods manufactured. If the beginning balance

in work in process inventory was 20,000 and the ending balance was 25,000 then the total manufacturing costs were ________.
Business
1 answer:
DerKrebs [107]3 years ago
6 0

Answer:

55,000

Explanation:

Cost of goods manufactured = Opening Work in Process + Manufacturing costs - Closing Work In Process

Putting values in above equation

50,000 = 20,000 + MC - 25,000

50,000 + 25,000 - 20,000 = 55,000

Here total cost is given which is of completed goods, and therefore work in process is not included in this value of 50,000 and thus treated differently.

Thus total manufacturing costs = 55,000

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The stockholders’ equity section of Blue Spruce Corp.’s balance sheet consists of common stock ($8 par) $1,104,000 and retained
Ne4ueva [31]

Answer:

Only the retained earning changed from $460,000 before the dividend payment to $211,600 after the dividend payment. The total shareholders' equity remain at $1,564,000 before and after the dividend payment.

Explanation:

Note: The two questions (a) and (b) in the question are the same and they just one question which is answered as follows:

Before dividend  payment

Common Stock = $1,104,000

Shares outstanding = $1,104,000 ÷ 8 = 138,000  

Retained earning = $460,000

Total Stockholders' Equity = $1,104,000 + $460,000 = $1,564,000

After Dividend

Shares outstanding  = 138,000 + (138,000 × 10%) = 138,000 + 13,000 = 151,800

Common Stock = $1,104,000 + (13,800 × 8) = $1,104,000 + $110,400 = $1,214,400

In excess of par value = 0 + (13,800 × 10) = $138,000

Total Paid-In Capital = $1,214,400  + $138,000 =  $1,352,400

Retained Earnings = $460,000 - (13,800 × 18) = $460,000 - 248,400 = $211,600

Total Stockholders' Equity = $1,352,400 + $211,600 = $1,564,000

Concluding Note

From the above, only the retained earning changed from $460,000 before the dividend payment to $211,600 after the dividend payment. The total shareholders' equity remain at $1,564,000 before and after the dividend payment.

4 0
3 years ago
Shore Company reports the following information regarding its production cost:Units produced 38,000 units
Oksanka [162]

Answer:

Production cost per unit $80.59

Explanation:

The computation of the production cost per unit using absorption costing is shown below:

Direct labor per unit  $28

Direct material per unit $29

Variable overhead per unit $20 ($760,000 ÷ 38,000 units)

Fixed overhead per unit $3.59 ($136,420 ÷ 38,000 units)

Production cost per unit $80.59

We simply added all the cost per unit so that the production cost per unit could come

4 0
3 years ago
What is a major difference between the world trade organization (wto) and the world bank?
Murrr4er [49]

The World Trade Organization (WTO) is the global international organization that deals with trade rules between different nations. The World Bank handles all financial assitance with developing countries around the world. Though they both help different nations, one handles the trade between nations and the other handles financial monetary assets.

8 0
3 years ago
Read 2 more answers
All of the following are associated with reporting controllable costs except:a. At lower levels, management have fewer controlla
stira [4]

Answer:

a. At lower levels, management have fewer controllable costs

Explanation:

The opposite is true, lower-level management have more controllabe costs than higher level management because top management focuses on the general strategy of the firm, while lower management focuses on the specific production processes.

It is in these specific production processes that many controllable costs arise. A production line supervisor (part of lower-level management) can directly control some variable costs such as energy used, amount of input, or even work hours.

3 0
3 years ago
Crane Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2014. The subsidiary ledger contains
kondor19780726 [428]

Answer:

$4,375

Explanation:

Given that,

Crane Company balance = $9,250

Balance of Hale company = $3,000

Balance of Janish company = $1,875

January 1 balance in the Valdez Company subsidiary account:

= Crane Company Accounts Payable control account + Hale Company balance + Janish Company balance

= $9,250 + $3,000 + $1,875

= $4,375

5 0
3 years ago
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