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Lelu [443]
3 years ago
8

Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter’s pro

duction. 1. Materials purchased on account $197,900, and factory wages incurred $93,100. 2. Materials requisitioned and factory labor used by job: Job Number Materials Factory Labor A20 $37,740 $19,200 A21 44,320 23,600 A22 38,000 15,600 A23 4.1,770 27,100 General factory use 5,270 7,600 167,100 $93,100 3. Manufacturing overhead costs incurred on account $53,000. 4. Depreciation on factory equipment $17,150. 5. Depreciation on the company’s office building was $14,800. 6. Manufacturing overhead rate is 83% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23.Prepare entries to record the operations summarized above.
Business
1 answer:
VLD [36.1K]3 years ago
4 0

Answer:

raw materials    197900

accounts payable   197900

WIP   161830

factory overhead   5270

raw materials   167100

WIP   85500

factory overhead   7600

wages payables   93100

factory overhead   53000

accounts payable   53000

factory overhead   17150

acc. Dep-equipment   17150

dep expense*   14800

acc. Dep- Off Building   14800

WIP**   70965

factory overhead   70965

Finished Goods***   251747

WIP inventory   251747

Explanation:

* as the building is not related to the manufacturing process we cannot capitalized through inventory We will record as cost ofo the period therefore, depreciation expense

** the aplied overhead will be the amount of direct labor added during the period time 83%

85,500 x 83% = 85,500 * 0.83 = 70,965

*** we will have to add up the jobs cost to detemrinate how much of the work in process inventory becomes finished good

Job  Materials // Labor // Overhead

A20 $  37,740  $  19,200 + 19,200 x 0.83

A21  $ 44,320  $ 23,600 + 23,600 x 0.83

A23 $  41,770   $  27,100  + 27,100 x 0.83

Total 251,747

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You purchased 7 3/4 pounds of candy for your party. you are expecting to have 10 guests attend your party. how much candy will e
astra-53 [7]
Candy purchased for the party = 7 3/4 pound
= 31/4 pounds
= 7.75 pounds
Guests who are going to attend the party = 10
now divide the total amount of candy by 10 to find the amount of candy each guest will get.
= 7.75 pounds/ 10
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4 0
3 years ago
Real Foods produced 400,000 cans of diced tomatoes in 2017 and 460,000 cans of diced tomatoes in 2018. They employed the same nu
MArishka [77]

Answer:

Relative to their productivity in 2017, their 2018 productivity was 15% higher

Explanation:

what this question requires us to do essentially is to find the difference between the productivity of 2017 and 2018, and for representation of change in market factors, percentages are most appropriately used. Hence, it is calculated as:

2017 productivity = $400,000

2018 productivity = $460,000

difference = 460,000 - 400,000 = 60,000

Next, since we got a difference of $60,000, we will determine what percentage of the 2017 productivity ($400,000) is $60,000, and this is done as follows:

X% of 400,000 = 60,000

X/100 × 400,000 = 60,000

4000X = 60,000

X = 60,000 ÷ 4000 = 15%

Therefore, the productivity of 2018, was 15% higher, relative to 2017 productivity.

6 0
3 years ago
The accountants hired by the Brookside Racquet Club have determined total fixed cost to be $75,000, total variable cost to be $1
sammy [17]

Answer:

C. Stay Open because Shutting Down would be More Expensive

Explanation:

Although it is quite obvious that in the short-run the business is not breaking even, based on the available options, staying open will be the best current course of action. Staying open and seeing if the trend of things change in coming fiscal years or financial periods will be better than shutting down.

Shutting down takes alot of processes that are quite expensive. Some of the processes include

  • The Decision to Close  
  • File dissolution documents
  • Cancel registrations, permits, licenses, and business names
  • Comply with employment and labor laws
  • Resolve financial obligations
  • Maintain adequate records

These processes are expensive and since the business does not know what is causing  the inability to cover its entire costs, it should investigate and find ways of increasing its total revenue to cover its entire costs before deciding to shut down completely.

a. Shut Down- Shutting Down is More Expensive

b. Exit the Industry- There isn't enough information to know exactly why the business is not making a profit

6 0
3 years ago
Which of the baldrige criteria is given the most weight in selecting winners?
Allisa [31]

Results are heavily weighted toward the Baldrige criterion. This is further explained below.

<h3>What are Baldrige's criteria?</h3>

Generally,  "Integrated management framework" refers to a set of tools used to analyze and improve business operations.

In conclusion, Sampling acceptance rates for winners are heavily weighted toward those that meet the Baldrige standards.

Read more about Baldrige's criteria

brainly.com/question/21801135

#SPJ12

8 0
2 years ago
Diaz Company has developed the following standards for one of its products:Direct materials 3.50 pounds × $4 per poundDirect lab
Hoochie [10]

Answer:

$8000

Explanation:

Total variable cost per unit (standard):

= Direct materials + Direct labor + Variable manufacturing overhead

= [3.5 pounds × $4 per pound] + [1 hour × $12 per hour] + [1 hour × $6 per hour]

= $14 + $12 + $6

= $32 per unit

Total variable standard cost:

= Per unit cost × Units produced

= $32 × 250

= $8000

8 0
3 years ago
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