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defon
3 years ago
9

Birk Co. uses a job order cost system. The following debits (credits) appeared in Birk's work-in-process account for the month o

f April: April Description Amount 1 Balance $ 4,000 30 Direct materials 24,000 30 Direct labor 16,000 30 Factory overhead 12,800 30 To finished goods (48,000) Birk applies overhead to production at a predetermined rate of 80% of direct labor cost. Job No. 5, the only job still in process on April 30, has been charged with direct labor of $2,000. What was the amount of direct materials charged to Job No. 5?
Business
1 answer:
svp [43]3 years ago
5 0

Answer:

The amount of direct materials charged to Job No. 5 is $5,200.

Explanation:

Work in process, April 30 = Balance + Direct material + Direct labor + Factory overhead - Cost of finished goods

                                            = $4,000 + 24,000 + 16,000 + 12,800 - 48,000

                                             = $8,800

Job No 5 = Work in process, April 30 = $8,800

Job No 5 = Direct material + Direct labor + Factory overhead

$8,800 = Direct material + $2,000 + $1,600 ($2,000 * 80%)

Direct material = $8,800 - $2,000 - $1,600

                         = $5,200

Therefore, The amount of direct materials charged to Job No. 5 is $5,200.

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Violet, William, and Xavier are partners in a partnership that sells medical devices. Violet and William each contributed $100,0
mafiozo [28]

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d. purchase the machine because each partner has one vote in management matters

Explanation:

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John earns $5.75 per hour. He worked 40.0 hours last week. What was the amount of his check?
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Read 2 more answers
At the beginning of 2021, Artichoke Academy reported a balance in common stock of $164,000 and a balance in retained earnings of
daser333 [38]

Answer:

                       Artichoke Academy

           Statement of Stockholders’ Equity

        For the Year Ended December 31, 2021

Beginning balance Common Stock                   $164,000

<u>Beginning balance retained earnings                $64,000</u>

Subtotal                                                              $228,000

Common Stock issued                                        $54,000

Earned net income                                              $44,000

<u>Distributed dividends                                          ($11,400)</u>

Ending balance Common Stock                      $218,000

<u>Ending balance retained earnings                    $96.600</u>

Total Stockholders' Equity December 31, 2021: $314,600

          Artichoke Academy

              Balance Sheet

For the Year Ended December 31, 2021

Assets:

Cash $54,000

Prepaid rent $31,000

Supplies $12,300

Land $270,000

Total assets: $367,300

Liabilities and stockholders' equity:

Accounts payable $13,600

Utilities payable $5,200

Salaries payable $4,900

Notes payable $29,000

Common stock $218,000

Retained earnings $96,600

Total liabilities and stockholders' equity: $367,300

7 0
3 years ago
Highland Company's standard cost is $250,000. The allowable deviation is ±10%. Its actual costs for six months are as follows Ja
Rasek [7]

Answer:

The month that is lower than the lower control limit is February ($220,000).

Explanation:

Giving the following information:

Highland Company's standard cost is $250,000.

The allowable deviation is ±10%.

Actual Fixed costs:

January $235,000

February 220,000

March 245,000

April 265,000

May 270,000

June 280,000

First, we need to calculate the lower control limit:

Lower control limit= 250,000*0.9= $225,000

The month that is lower than the lower control limit is February ($220,000).

6 0
3 years ago
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