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Maslowich
3 years ago
10

Robin Company has the following balances for the current month: Direct materials used $ 24,000 Direct labor $ 36,800 Sales salar

ies $ 19,200 Indirect labor $ 4,800 Production manager's salary $ 9,600 Marketing costs $ 14,400 Factory lease $ 6,400 What is Robin's total manufacturing cost
Business
1 answer:
Irina-Kira [14]3 years ago
3 0

Answer:

total manufacturing cost =  $60800

Explanation:

given data

Direct materials used = $24,000

Direct labor = $36,800

Sales salaries  = $19,200

Indirect labor = $4,800

Production manager's salary =  $9,600

Marketing costs = $14,400

Factory lease = $6,400

solution

we get here total manufacturing cost that is express as

total manufacturing cost =  Direct Material + Direct Labor    ..............1

put here value and we get

total manufacturing cost =  $24000  + $36800

total manufacturing cost =  $60800

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Answer:

Explanation:

From the information povided:

(a) To compute the amount of goodwill paid by Chicago Corporation

Particulars                                            Amount ($)

Accounts Receivable                           100000

Inventory                                               170000

Plant & Equipment                               400000

Land                                                        90000

Customer List                                            4000

Trade Names                                          <u> 16000</u>

     NET ASSETS  (A)                             <u>780000</u>

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Current liabilities                                     76000

Non-current liabilities                            <u>160000 </u>

      NET LIABILITIES (B)                        <u> 236000</u>

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PURCHASE  CONSIDERATION (A -B)   544000

<u>Less:</u>  Cash Paid                                    <u>  580000</u>

          GODWILL                                    <u>    36000 </u>

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b)

In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.

Account Name                                       Dr.                      Cr.

Accounts Receivable A/C                  100000

Inventory A/C                                       170000

Plant Equipment  A/C                          400000

Land A/C                                                 90000

Customer List A/C                                    4000

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Current liabilities A/C                                                       76000

Non-Current Liabilities A/C                                             160000

Cash A/C                                                                          580000

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The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.

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