1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zolol [24]
3 years ago
8

The following selected account balances are provided for Delray Mfg. Sales $ 1,165,000 Raw materials inventory, beginning 35,000

Work in process inventory, beginning 58,500 Finished goods inventory, beginning 65,600 Raw materials purchases 184,800 Direct labor 249,000 Factory supplies used (indirect materials) 16,000 Indirect labor 48,000 Repairs—Factory equipment 5,250 Rent cost of factory building 52,000 Advertising expense 95,000 General and administrative expenses 130,000 Raw materials inventory, ending 40,100 Work in process inventory, ending 46,400 Finished goods inventory, ending 72,700 Prepare its schedule of cost of goods manufactured for the current year ended December 31.
Business
1 answer:
katovenus [111]3 years ago
8 0

Answer:

Cost of goods manufactured = $562,050

Explanation:

                    Delray Manufacturing

 Schedule of cost of goods manufactured

 For the current year ended December 31

Beginning Raw materials inventory        $35,000

Add: Raw materials purchases               <u>$184,800</u>

<em>Raw materials available for sale             $219,800</em>

<u>Less: Ending Raw materials inventory    $(40,100)</u>

Direct materials used                           = $179,700

<u>Direct labor                                              $249,000</u>

Primary cost                                            $428,700

<em>Add: Factory Overhead</em>

Factory supplies used           $16,000

Indirect labor                           48,000

Repairs—Factory equipment    5,250

Rent cost of factory building  <u>52,000                      </u>

<em>Total factory overhead cost                    </em><u><em>$121,250</em></u>

Total manufacturing cost                     $549,950

Add: Beginning work-in-process             $58,500

<u>Less: Ending work-in-process                $(46,400)</u>

Cost of goods manufactured              $562,050

You might be interested in
Geraldo gauged the level of exposure to his marketing campaign using the percentage of the target population exposed at least on
AlladinOne [14]

Geraldo gauged the level of exposure to his marketing campaign using the percentage of the target population exposed at least once to his advertisement, representing its integrated market communication as well as marketing plan.

Marketing plan is the plan made by any organization to communicate about its products when they are new to launch them in the market.

Integrated market communication is the process which includes different marketing campaigns and marketing plans to define what they want to achieve through the marketing process.

In communicating with the target market The AIDA model is used.

To know more about marketing plan here:

brainly.com/question/24441883

#SPJ4

4 0
1 year ago
Describe the first institution of the income tax in the United States, the reason behind it, and what happened to it.
Vinil7 [7]

Answer: The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes inorder to meet up war expenses.

Explanation:

The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes inorder to meet up war expenses. The tax system was cancelled after 10years of the practice but was later reinstated by the Congress in 1894 on federal level, but it was ruled out the following year by the Supreme Court because it was taxed directly and not according to the population of each state. In the year 1913 the federal government was allowed to tax everyone irrespective of the sizes of their state by the 16th amendment. This has been what's obtainable about the tax system till date.

4 0
3 years ago
ACME Confetti Corporation needs to finance $20 million for a plant expansion building project. They've decided to issue common s
Law Incorporation [45]

Answer:

Option (C) is correct.

Explanation:

The required proceeds:

= Amount need to be finance ÷ (1 - 7%)

= $20 million ÷ (1 - 0.07)

= $215,05,376.34 (approx)

Hence, the number of shares needed to be issued:

= required proceeds ÷ Issue price per share

= $215,05,376.34 ÷ $50 per share

= 430,108 shares (approx)

Therefore, 430,108 shares they need to issue to cover the cost of the project plus all floatation costs.

6 0
3 years ago
Which of these is not something to consider when trying to get a positive return on investment (roi) for higher education?
Fantom [35]

Something not to consider when trying to get a positive return on investment (ROI) for higher education is: c. the type of food that is offered on the meal plan.

<h3>What is rate of return?</h3>

Rate of return can be defined as a net gain (profit) or loss that is associated with an investment over a specified period of time, and it's usually expressed as a percentage of the investment's initial cost.

This ultimately implies that, the rate of return must be higher than the rate of inflation in order for any business firm or individual to earn money on their investments.

Also, a positive return on investment (ROI) entails a net gain (profit) from an investment over a specified period of time. This ultimately implies that, the type of food that is offered on the meal plan isn't something to consider when trying to get a positive return on investment (ROI) for higher education.

Read more on return on investment here: brainly.com/question/23603222

#SPJ1

Complete Question:

Which of these is not something to consider when trying to get a positive return on investment (ROI) for higher education?

a. The cost of attendance.

b. The financial aid package that is offered to you.

c. The type of food that is offered on the meal plan.

d. Your expected career income.

5 0
1 year ago
A University is offering a charitable gift program. A former student who is now 50 years old is consider the following offer: Th
xenn [34]

Answer:

The value of this deferred annuity today on his 50th birthday is <u>$2,621.27</u>.

Explanation:

Since the student's desired return of 6% will also start to be paid starting on his 65th birthday, the value of this deferred annuity today on his 50th birthday can be calculated by first calculating the value of the investment on the 65th birthday.

We therefore proceed with the following two steps:

Step 1: Calculation of the value of the investment on the 65th birthday

The value of the investment on the 65th birthday can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV at 65 = Present value of the annuity at 65th birthday =?

P = Annuity payment = Invested amount * Student's desired return = $8,900 * 6% = $534

r = Student's desired return rate = 6%, or 0.06

n = number of more years anticipate to live after 65th birthday = 21

Substitute the values into equation (1) to have:

PV at 65 = $534 * ((1 - (1 / (1 + 0.06))^21) / 0.06)

PV at 65 = $534 * 11.764076621288

PV at 65 = $6,282.02

Therefore, the value of the investment on the 65th birthday is $6,282.02.

Step 2: Calculation of the value of this deferred annuity today on his 50th birthday

The value of this deferred annuity today on his 50th birthday can therefore be calculated using the simple present value for as follows:

PV at 50 = PV at 65 / (1 + r)^N …………………………….. (2)

Where;

PV at 50 = the value of this deferred annuity today on his 50th birthday = ?

PV at 65 = Present value of the annuity at 65th birthday = $6,282.02

r = Student's desired return rate = 6%, or 0.06

N = number of years from 50th birthday to 65th birthday = 65 - 50 = 15

Substitute the values into equation (2) to have:

PV at 50 = $6,282.02 / (1 + 0.06)^15

PV at 50 = $6,282.02 / 2.39655819309969

PV at 50 = $2,621.27

Therefore, the value of this deferred annuity today on his 50th birthday is <u>$2,621.27</u>.

5 0
2 years ago
Other questions:
  • What is a potential negative effect of an expansionary policy?
    5·2 answers
  • Fowler, Inc., just paid a dividend of $2.75 per share on its stock. The dividends are expected to grow at a constant rate of 6.5
    10·1 answer
  • Andrea's Kitchen is a catering business that operates by means of its own website. Customers order party platters, pastries, and
    9·1 answer
  • Following is the income statement for Target Corporation. Prepare Target's common-size income statement for the fiscal year ende
    15·1 answer
  • If you want to sell unique wristbands to the 250 participants in a special boating event to raise funds for research for a rare
    13·2 answers
  • Jennifer took a video recording of Jack and Alice fighting in an alley. Jack and Alice disclose multiple private facts about eac
    9·1 answer
  • Amerigo grew up speaking both English and Italian with his family, and he believes that knowledge of more than one language is a
    8·2 answers
  • If you don't own a home or a car, your liability is
    12·1 answer
  • Gary's wife died last year, so he has been raising his three children on his own. When he files his taxes this year, which tax s
    13·1 answer
  • Demand and supply in the market for​ _______ determine the​ long-term real interest rate. In the short​ run, a change in the​ __
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!