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Answer:
Ending inventory = $227
Cost of good sold = $1,333
Explanation:
Note: The data in the question are merged together and they are first sored before answering the question as follows:
Date Transaction Number of Units Unit Cost Total Cost
Jan. 1 Beginning inventory 20 $55 $1,100
Sep. 8 Purchase <u>10 26 260 </u>
Total <u>30 $1,360</u>
The explanation to the answers are now as follows:
Weighted cost per unit = $1,360/30 = $45.3333
Ending inventory = (30 - 25) * $45.3333 = $227
Cost of good sold = 25 * $45.3333 = $1,333
Answer:
Decision making
Explanation: Companies use marginal analysis as a decision making tool to help them maximize their potential profits.←
Answer:eral ledger of Fresh Bagel Manufacturing Company: Work in process inventory $0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The
Explanation:
ocess inventory $0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on directestion
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory $0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 251 comma 000 of direct labor cost and $ 350 comma 300 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $ 6 comma 100 (1 comma 000 direct labor hours) and total direct material charges were $ 14 comma 100. 5. Cost of direct materials placed in production during January totaled $ 123 comma 200. The
Answer:
This is made due to the application of the cost principle or historical cost concept.
Explanation:
The cost principle or historical cost concept states that the assets, equities, and liabilities are required to be recorded on the financial records on the basis of their original cost. Thus as the cash paid is ZMW 51,000, the same is required to be recorded on the balance sheet of the buyer.
