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malfutka [58]
3 years ago
10

At the beginning of the​ year, Swift,​ Inc.'s Work-in-Process Inventory account had a balance of $ 124 comma 000. During the​ ye

ar, $ 250 comma 000 of direct materials were used in​ production, and $ 74 comma 000 of direct labor costs were incurred. Manufacturing overhead amounted to $ 829 comma 000. The cost of goods manufactured was $ 670 comma 000. What is the balance in the​ Work-in-Process Inventory account on December​ 31?
Business
1 answer:
son4ous [18]3 years ago
6 0

Answer:

Ending WIP= 607,000

Explanation:

Giving the following information:

Inventory account had a balance of $124,000. During the​ year, $250,000 of direct materials were used in​ production, and $74,000 of direct labor costs were incurred. Manufacturing overhead amounted to $829,000. The cost of goods manufactured was $670,000.

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

670,000= 124,000 + 250,000 + 74,000 + 829,000 - Ending WIP

Ending WIP= 607,000

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Answer:

The answer is A True

Explanation:

AFN which is "additional funds needed" is a concept used commonly in business looking to expand operations and influence. Since a business that seeks to increase its sales level will require more assets to meet that stated goal, some provision must be made to accommodate the change in assets. AFN is a way of calculating how much of new funds will be needed, so that the firm can realistically look at whatever or not they will be able to generate the additional funds and therefore be able to achieve the higher sales level.

Economies of scale are cost advantage reaped by companies when production becomes efficient. Firms can achieve economies of scale by increasing production and lowering cost. This does not involve calculating of new funds needed for a realistic expansion of the firm.

Lumpy assets are assets that cannot be acquired in small increments but must be obtained in large, discrete units.

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A constant ration can not be meet in this condition of economies of scale, lumpy assets, and excess capacity as these conditions  can not be used in raising funds or additional funds that are needed by the industry in its expansion.

8 0
3 years ago
Dollar Co. sold merchandise to Pound Co. on account, $25,500, terms 2/15, net 45. The Pound Co. paid the invoice within the disc
Scorpion4ik [409]

Answer:

c. $24,990

Explanation:

The Term 2/15 net 45 mean 2% cash discount is offered if the payment is made within 15 days otherwise the credit period is 45 days. There is no after 15 days of sale.

Amount of Sale = $25,500

Discount Rate = 2%

The Pound Co. paid the invoice within the discount period. They are eligible to receive the 2% discount on sale value.

Discount Amount = $25,500 x 2% = $510

Net Sales amount in this transaction = $25,500 - $510

Net Sales amount in this transaction = $24,990

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3 years ago
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Answer:

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William pays $500 premium every six months for automobile insurance with collision coverage. His deductible is $750. William cau
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6 0
3 years ago
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What is happening with Unemployment of Indonesia over the past 2 or 3 years?
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Answer:

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Explanation:

give 5 star

6 0
2 years ago
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