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3 years ago

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

Business

1 answer:

devlian [24]3 years ago

7 0

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

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I think its A) True.

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identify and discuss three or four of the major elements required in the statement on standards for valuation services (SSVS). B

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Explanation:

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<u>Major Elements:</u>

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4 years ago

The following costs and useful life data are associated with two new machines being considered at Arun Tech Inc.

Sidana [21]

Answer:

Machine B has a higher NPV therefore should be produced

Explanation:

The machine with the higher Net Present Value (NPV) should be produced .

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PV of cash flow

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A- 92,000, n- 11, r- 12%

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3 years ago

Read 2 more answers

The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that a

Anika [276]

Answer:

$8,800 favourable

Explanation:

The computation of direct material quantity variance is seen below;

= Standard price × ( Standard quantity - Actual quantity)

= $4 × [(2 gallons × 7,200 units) - 12,200 gallons)

= $4 (14,400 gallons - 12,200 gallons)

= $4 × 2,200 gallons

= $8,800 favorable

Therefore, the direct materials quantity variance for last month is $8,800 favourable

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3 years ago

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

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