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kvasek [131]
3 years ago
11

Beck Manufacturing reports the information below for 2017. Raw Materials Inventory Begin. Inv. 10,000 Purchases 45,000 Avail. fo

r use 55,000 DM used 46,500 End. Inv. 8,500 Work in Process Inventory Begin. Inv. 14,000 DM used 46,500 Direct labor 27,500 Overhead 55,000 Avail. for mfg. 143,000 Cost of goods mfg 131,000 End. Inv. 12,000 Finished Goods Inventory Begin. Inv. 16,000 Cost of goods mfg 131,000 Avail. for sale 147,000 Cost of Goods Sold 129,000 End. Inv. 18,000 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.
Business
1 answer:
Vanyuwa [196]3 years ago
5 0

Answer:

transferred out (COGM) 131,000

Cost of goods sold:       129,000

Explanation:

DM used     46,500

Direct labor  27,500

Overhead  <u>  55,000  </u>

Total:           129,000 cost added for the period

Then, we calcualte the amount transferred-out:

Beginning WIP   14,000

Cost added      129,000

Ending WIP       (12,000)

Trasferred out: 131,000 (cost of goods manufactured)

And finally, the cost of goods sold for the year:

Beginning FG    16,000

Trasferred out   131,000

Ending FG         (18,000)

COGS:              129,000

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increasing sales, because your target population is increasing in size.

Explanation:

There will definitely be a bright future in the business because the targeted population which happens to be the elderly ones keeps increasing in size, hence, there will be increase in sales and in turn there will be increase in turnover which is a good thing for the business.

6 0
2 years ago
In the first year of an asset's life, which of the following methods has the smallest depreciation?
Lubov Fominskaja [6]

Answer:

d. Straight-line.

Explanation:

Depreciation: Depreciation is an expense indicating a reduction in the value of fixed assets due to tear and wear, obsolescence, usage, time period, etc. It is shown on the income statement debit line. It is a non-cash item not impacting the cash balance.

In the straight-line method, the depreciation expense would be lowest in this method and it remains the same for the remaining useful life

In the double-declining method, the depreciation rate is doubled and contain the highest value

In the sum of the year digit, we sum the useful life like 5 years so we sum 5+4+3+2+1 = 15 years and divide it to the useful life i.e 5

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3 0
3 years ago
Key question addressed by strategic management is "Why do some firms outperform other firms?" In other words, it examines how ac
Lina20 [59]

Answer:

The answer: ''In other words, it examines how actions and events involving top executives, firms and industries influence a firm's success or failure'' is correct.

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To begin with, in the field of business the managers tend to be very agressive and competitive in order to set their companies in the top of the industry and therefore to obtain the maximun profits as possible.

To continue, the strategic management group wonder themself why do some firms outperform other firms and the answer to that question has many factors that influece the situation where that happens, in other words, it is normal that many companies with less resources, such as money or human knowledge, tend to give a worst performance that other companies that count with executives with huge experience or better economic situations in the industry. Moreover, it is known that the companies with a manager that knows how to manage the business with the resources it has and how to comprehend the situation where it heads will perform at a higher level than the other.

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3 years ago
Assume you purchased 900 shares of XYZ common stock on margin at $90 per share from your broker. If the initial margin is 65%, t
tiny-mole [99]

Answer:

See below.

Explanation:

Amount Borrowed = Shares * Price * (1-Initial Margin)

900*90*(1-0.65) =81000*28350 = $28,350

Answer = $ 28,350 (D)

8 0
3 years ago
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According to Philip Crosby, the correct cost for a well-managed quality management programme should be less than 2.5 percent.

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To learn more about quality management programme refer :

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