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faust18 [17]
3 years ago
14

Compute the Cost of Goods Manufactured and Cost of Goods Sold for Blue Sea Company for the most recent year using the amounts de

scribed next. Assume that Raw Materials Inventory contains only direct materials
(Click the icon to view the data )
Start the calculation for cost of goods manufactured by calculating the direct materials used
Blue Sea Company
Calculation of Direct Materials Used
For Current Year
Beginning raw materials inventory $ 27,000
Plus Purchases of direct materials 79,000
Materials available for use 106,000
Less: Ending raw materials iniventory 31,000
Direct materials used 75.000
Calculate the cost of goods manufactured.
Business
1 answer:
ehidna [41]3 years ago
5 0

Answer:

Calculate the cost of goods manufactured.

  • $243,800

Explanation:

manufacturing overhead = indirect labor ($46,000) + insurance of plant ($8,000) + depreciation of machines and equipment ($12,700) + repairs and maintenance ($4,100) =  $70,800

Beginning raw materials  = $27,000

+ Purchases of raw materials  =  $79,000

- Ending raw materials inventory  =  -$31,000

= Direct materials used in production   = $75,000

+ Direct labor   = $83,000

+ Manufacturing overhead  =  $70,800

= Total manufacturing costs  =  $228,800

+ Beginning work in process   = $43,000

- Ending work in process  =  -$28,000

= Cost of goods manufactured  = $243,800

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Commerce Corporation has a high probability of operating at 40,000 activity hours during the upcoming period, and lower probabil
Zepler [3.9K]

Answer:

Total cost= $877,500

Explanation:

<u> First, we need to calculate the unitary variable cost:</u>

Unitary variable cost= 135,000 / 30,000= $4.5

Unitary variable cost= 180,000 / 40,000= $4.5

Unitary variable cost= 225,000 / 50,000= $4.5

<u>Now, the total cost for 35,000 hours:</u>

Total cost= Unitary variable cost*total number of hours + fixed costs

Total cost= 4.5*35,000 + 720,000

Total cost= $877,500

4 0
3 years ago
Payments from customers received before performing services for the customers are recorded as
Pachacha [2.7K]

Answer:

B) liabilities.

Explanation:

When the payment is received from the customer before performing the services is known as unearned service revenue

The journal entry is

Cash A/c Dr XXXXX

          To Unearned Service revenue A/c XXXXX

(Being advance payment is received)

We simply debited the cash account as cash is received and credited the respective account i.e unearned service revenue

7 0
3 years ago
During the initiation phase, what does project selection help to do
Strike441 [17]

Answer:

During the initiation phase, what does project selection help to do?

The initiation phase entails the starting point of the project, project selection comes in after the scope, objectives and how it would be delivered has been defined thoroughly. Project selection helps to make decision to know when the project would be ready for delivery, also the format of execution would be known, furthermore, any deviation from the initiation would be detected early and corrected if there is any

Explanation:

5 0
3 years ago
Stacy, a self-employed accountant, currently earns $100,000 annually. Stacy has been able to save 18% of her annual Schedule C n
Vlad [161]

Answer:

Wage Replacement Ratio = $53,000 / $100,000 = 53%

Explanation:

Total Mortgages = $1,500 x 12 = $18,000

                                           Dollar Value               Percentage

Salary                                       $100,000                             100%

Less: Self-Employment Taxes (11,000)                              (11%)

Less: Savings                                 (18,000)                              (18%)

Less: Mortgage Payments         (18,000)                              (18%)

                                               $ 53,000                               53%

Wage Replacement Ratio = $53,000 / $100,000 = 53%

3 0
3 years ago
Help Please!!!!Jamir has decided that he needs a new car. He has found the model and color he wants for a purchase price of $25,
Leokris [45]

Answer:

He will have to come up with a bigger down payment

His monthly payments will be higher.

If Jamir leases the car, his down payment will be $1500.

If he purchases the car, his down payment will be 10% of purchase price which will be \frac{10}{100} *25,838 = $2583.80.

Hence his down payment will be higher if he purchases the car.

If Jamir leases the car, his monthly payments will be $290, as against the monthly payment of $432.46, which is higher.

0 0
3 years ago
Read 2 more answers
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