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Advocard [28]
3 years ago
6

The following costs and inventory data were taken from the accounts of Simon Company for 2010:

Business
1 answer:
kenny6666 [7]3 years ago
8 0

Answer:

Part a

Direct Materials Schedule

Beginning Materials                               $ 8,000

<em>Add</em> Purchases                                      $83,000

<em>Less</em> Ending Materials                          ($ 7,000)

<em>Less</em> Indirect materials                          ($4,000)

Direct Materials Used in Production    $80,000

Part b

Overheads Incurred during the year

                                     $

Factory rent                  8,000

Factory utilities            10,000

Indirect materials          4,000

Indirect labor                 6,000

Total Overheads       $28,000

Part c

Cost of Goods Manufactured Schedule

Direct Materials                                   $80,000

Direct labor                                          $42,000

Overheads                                           $28,000

Add Opening Work In Process           $15,000

Less Closing Work In Process           ($13,000)

Cost of Goods Manufactured           $152,000

Part d

Cost of Goods Sold

Beginning Finished goods Inventory       $16,000

Add Cost of Goods Manufactured         $152,000

Less Ending Finished Goods Inventory ($12,000)

Cost of Goods Sold                                 $156,000

Explanation:

The following steps must be done to reach the cost of goods sold :

  1. Use the Manufacturing Cost Schedule to calculate the Cost of Goods Manufactured
  2. Use the Finished Goods Inventory Account to calculate the Cost of Goods Sold.

See the calculations and schedules prepared above.

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Answer:

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7 0
3 years ago
Bissell Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Plan asset
ivanzaharov [21]

Answer:

$205,200

Explanation:

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So therefore, the pension expense for the year is $205,200.

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Trevor Williams’ bank calculates interest daily. At an APR of 3%, how much simple interest does $2,000 earn in twelve days?
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Explanation:

The total assets comprises of current assets, fixed assets ,and the intangible assets

The current assets includes cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

The preparation of the classified balance sheet for Nike, Inc on  May 31, 2022 is presented in the spreadsheet. Kindly find the attachment below:

3 0
2 years ago
How much would $100, growing at 5% per year, be worth after 75 years? a. $4,077.43 b. $4,281.30 c. $3,883.27 d. $3,689.11 e. $4,
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Answer:

The answer is c. $3,883.27

Explanation:

For the problem, we will be using the formula for calculating the Future Value of money, which is:

F= P(1+r)^{n}

Where:

F - future value

P - Principal amount = ($100)

r - rate of growth in percent = (5% or 0.05)

n - number of years = (75)

We calculate thus:

F = 100(1 + 0.05)^{75}

F = 100(1.05)^{75}

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F = 3,883.27

therefore the amount after 75 years will be $3,883.27

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