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erma4kov [3.2K]
3 years ago
10

Beckett, Inc. reports the following cost information for​ March: Cost of Goods Manufactured $ 73 comma 000 Manufacturing Overhea

d 18 comma 900 Finished Goods​ Inventory, March 1 8 comma 000 Finished Goods​ Inventory, March 31 2 comma 000 ​Work-in-Process Inventory, March 1 9 comma 680 ​Work-in-Process Inventory, March 31 1 comma 000 Direct Materials Used 25 comma 140 What is the amount of direct labor incurred by​ Beckett, Inc. in​ March?
Business
1 answer:
pentagon [3]3 years ago
7 0

Answer:

Beckett, Inc.

Cost of Goods Manufactured Statement

Direct Materials Used      25, 140

Direct Labor $ 20,280

Manufacturing Overhead 18 ,900

Total Manufacturing Costs  $ 64,320

March 1 ​Work-in-Process Inventory,  9, 680

Cost of Goods Available for  Manufacture $ 74,000 ​

March 31 Work-in-Process Inventory, 1, 000

Cost of Goods Manufactured $ 73,000

March 1 Finished Goods​ Inventory, 8, 000

Cost of Goods available for sale $81,000

March 31 Finished Goods​ Inventory,  2, 000

Cost of Goods Sold $ 79,000

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Misty and John formed the MJ Partnership. Misty contributed $50,000 of cash in exchange for her 50% interest in the partnership
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Answer:

$78,000

Explanation:

The computation of interest at year end is shown below:-

Interest at year end = Cash contribution + Income of partnership + Share of partnership liabilities - Cash from the partnership

= $50,000 + $20,000 × 50% + $60,000 × 50% - $12,000

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4 0
3 years ago
Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,520,000; sales returns and allowa
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Answer:

c. $12,175,000.

Explanation:

Given: Merchandise sold by Lang company= $12520000.

           Sales return and allowances= $270000.

           Discount= $140000.

While calculating net sales, freight out charges is not included as it an selling expense and it should be included while calculating Gross profit of the company.

Here, we have to find the last year net sales for Lang company.

∴ Net sales= sales\ revenue- (sales\ returns\ and\ allowances + sales\ discount)

⇒ Net sales = 12520000-(270000 + 75000) = 12520000 - 345000

∴Net sales= \$ 12175000

6 0
3 years ago
Following are Nintendo's revenue and expense accounts for a recent calendar year.Net sales ¥ 1,014,345 Cost of sales 626,379 Adv
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Answer: These transactions can be journalized as follows :-

Explanation: Since the entries are closing entries these would be recorded at year end :-

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                 To income a/c ¥ 1,014,345

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                 To advertising expense a/c ¥ 96,359

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2 years ago
Ceteris paribus, for the owner of a sawmill, lumber and the sawdust that go into particle board are
Katyanochek1 [597]
<span>Ceteris paribus, for the owner of a sawmill, lumber and the sawdust that go into particle board are </span><span>complements in production; by-products. C</span>eteris Paribus<span> is a Latin phrase meaning "all other things remaining equal".  It is commonly used in economics.  </span>
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inflation can be measured by the a. percentage change in the price of a specific commodity. b. percentage change in the consumer
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Answer:

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Inflation is the increase in the price of a commodity, it is expressed as a percent change in the price of an item. We can calculate the inflation using percentage change in consumer price index.

Consumer price index measure the percentage of change in the price of a market basket of consumer goods and services.

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3 years ago
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