Which is the best answer

Dixonville has had fundamentally the same demographics, economic system, and social structure for decades. In recent years

Mekhanik [1.2K]

Dixon ills has fundamentally historically and natural law

4 0

3 years ago

Koczela Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 28,000 $ 23,0

astraxan [27]

Answer:

COGS= $241,000

Explanation:

First, we need to calculate the cost of goods manufactured with allocated overhead:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 28,000 + 68,000 + 98,000 + 72,000 - 23,000

cost of goods manufactured= $243,000

Now, we determine the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 57,000 + 243,000 - 61,000

COGS= $239,000

Finally, we close the under/over applied overhead to COGS:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 74,000 - 72,000

Underapplied overhead= $2,000

We need to debit COGS and credit overhead:

COGS 2,000

Manufacturing overhead 2,000

COGS= 239,000 + 2,000

COGS= $241,000

5 0

2 years ago

Which of the following activities would be most likely to be accomplished using sampling?a. Sorting a file to identify the large

Tomtit [17]

Answer:

C. Selecting items and tracing back to source documents.

4 0

2 years ago

Barnes Company reports the following operating results for the month of August: sales $305,000 (units 5,000); variable costs $21

Ostrovityanka [42]

Answer:

1. $30,500;

2. $30,000;

3. $22,000;

=> Option 1 produce the highest net income.

Explanation:

We have sell price per unit = 305K /5K = $61

1. Increase selling price by 10% with no change in total variable costs or sales volume:

Sell price = 61 x 1.1 = $67.1

Sales revenue = 67.1 x 5,000 = $335,500

Increase in sales revenue = 335.5K - 305K = $30,500

As costs remains the same, Net income will increase as much as the increase as sales revenue which is $30,500.

2. Reduce variable costs to 60% of sales:

New variable cost = $305,000 x 60% = $183,000

Saving in variable cost = 213K - 183K = $30,000

As fixed cost and sales revenue remain the same, net income will increase as much as the saving in variable cost which is $30,000

3. Reduce fixed costs by $22,000:

As variable cost and sales revenue remain the same, net income will increase as much as the saving in fixed cost which is $22,000

6 0

2 years ago

The totals from the first payroll of the year are shown below. Total Earnings FICA OASDI FICA HI FIT W/H State Tax Union Dues Ne

alexgriva [62]

Answer and Explanation:

The journal entry to deposit the FICA and FIT taxes is as follows:

FICA OASDI $2,244.10

FICA HI $524.83

FIT W/H $6,515.00

To Cash $9,283.93

(Being to record deposit the FICA and FIT taxes)

Here the FICA OASDI FICA HI FIT W/H is debited and the cash is credited

So the same is to be considered

5 0

2 years ago