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]
2 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]2 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
Brainliest Week
iren [92.7K]

Answer:

B Cost of ingredients for cupcakes rises.

Explanation:

5 0
3 years ago
Read 2 more answers
Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $120,000 or $300,000 with equal
Ivanshal [37]

Answer:

a. If you require a risk premium of 8%, how much will you be willing to pay for the portfolio?

the expected value of our portfolio = ($120,000 x 50%) + ($300,000 x 50%) = $210,000

the current market price of the investment = $210,000 / 1.13 = $185,840.71

discount rate = 5% + 8% = 13%

b. Suppose the portfolio can be purchased for the amount you found in (a). What will the expected rate of return on the portfolio be?

13%, it should be equal to the discount rate

c. Now suppose you require a risk premium of 15%. What is the price you will be willing to pay now?

the current market price of the investment = $210,000 / 1.21 = $175,000

discount rate = 5% + 15% = 20%

d. Comparing your answers to (a) and (c), what do you conclude about the relationship between the required risk premium on a portfolio and the price at which the portfolio will sell?

the higher the risk premium, the lower the market price of the portfolio

4 0
3 years ago
Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020
ivann1987 [24]

Answer:

a. Current ratio = Total current assets/Total current liabilities

Current ratio = $6,840/$3,420

Current ratio = 2 : 1

b. Accounts receivable turnover = Net credit sales / [Net beginning accounts receivables + Net ending accounts receivables / 2]

Accounts receivable turnover = $13,940 / [$3,300+$3,500/2]

Accounts receivable turnover = $13,940 / $3,400

Accounts receivable turnover = 4.1 times

c. Average collection period = 365 / Accounts receivables turnover

Average collection period = 365 / 4.1

Average collection period = 89.0244

Average collection period = 89 days

d. Inventory turnover = Cost of goods sold / [Beginning inventory+Ending inventory/2]

Inventory turnover = $9,000 / [$1,500+$1,500/2]

Inventory turnover = $9,000 / $1,500

Inventory turnover = 6 times

e. Days in inventory at the end of the current year = 365 / Inventory turnover

Days in inventory at the end of the current year = 365 / 6

Days in inventory at the end of the current year = 60.8333

Days in inventory at the end of the current year = 61 days

3 0
2 years ago
When a grant-application package lists eligible applicants, it is just a suggestion. This is America: all organizations are elig
Rufina [12.5K]

Answer:

false

Explanation:

The United States government do make some monies available to individuals or organisation in the form of grants, for the achievement of set purposes or goals. Not everyone or organisation can be eligible for all the available grants at any time. People are expected to look through various application processes to know if they are legally eligible to apply for any grant in order to avoid wasting their time and money during application.

6 0
3 years ago
Requirement 3. The company marketing vice president believes a new sales promotion that costs $ 140 comma 000 would increase sal
gregori [183]

Answer:

Revenue = 240000×49= 11,760,000

Variable manufacturing expense = 240000×20 = 4,800,000

Sales commission expense = 240000×8 =1,920,000

Fixed manufacturing overhead = $2,400,000

Fixed operating expenses = 245,000

Sales promotion = 140000

Profit = 2,255,000

8 0
3 years ago
Other questions:
  • Axiom International, an Australian company, wants to expand its operations to China, a country that is politically, culturally,
    12·1 answer
  • At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to
    10·1 answer
  • List the steps of the accounting cycle in their proper order.
    15·1 answer
  • Which of the following statements is true? A. Expenses are decreased by debits. B. Liabilities are decreased by credits. C. Reve
    9·1 answer
  • Which of the following might explain the evidence of an endowment effect in behavioral economics?A) Government regulation B) Kno
    10·1 answer
  • You would like to buy shares of International Business Machines (BM). The current bid and ask quotes are $103.25 and $103.30, re
    7·1 answer
  • The variable overhead spending variance, the fixed overhead spending variance, and the variable overhead efficiency variance can
    11·1 answer
  • Nolan is applying for a promotion within his company. The formal statement about the job says that he must have a four-year coll
    10·1 answer
  • Schweitzer realized that in many cases individuals could only accomplish direct human service in collaboration with official org
    6·1 answer
  • Who are the stakeholders who should be involved in the system and acquisition process?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!