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3 years ago

What is best description of inflation?

1 answer:

3 0

Inflation would be described as the rate at which the general level of prices for goods and services rises and the overall purchasing power of currency falls.

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Ben katchor used _____ to create multiple locations for the production of the slugbearers of kayrol island.

Aleonysh [2.5K]

Ben katchor used projections to create multiple locations for the production of the slugbearers of kayrol island.

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7 0

3 years ago

Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of

vova2212 [387]

Answer and Explanation:

1. The computation of overhead rate based on direct labor cost is shown below:-

Overhead rate = Overhead applied × 100 ÷ Direct labor cost

= 888 × 100 ÷ 1,200

= 74%

2. The Preparation of job-order cost sheet for the four jobs is shown below:

Particulars Job 86 Job 87 Job 88 Job 89

Beginning balance $6,888 $6,820

Direct materials $3,000 $7,000 $2,100 $1,500

Direct labor $800 $6,000 $900 $500

Applied overhead

is 74% of direct labor $592 $4,440 $666 $370

Total $11,280 $24,260 $3,666 $2,370

3. The computation of ending balances of Work in Process and Finished Goods is shown below:-

Work in process of Job 88 = $3,666

Finished goods = Total of Job 86 + Total of Job 89

= $11,280 + $2,370

= $13,650

4. The computation of the Cost of Goods Sold for March is shown below:-

Cost of goods sold is

= Job 87

= $24,260

7 0

3 years ago

Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials $ 25,100 $ 21,100

tamaranim1 [39]

Answer:

Bledsoe Corporation

Schedule of Cost of goods manufactured

Particulars Amount

Direct materials:

Beginning material inventory $25,100.00

Add: Purchases $72,100.00

Raw material available for use $97,200.00

Less: Ending material inventory $21,100.00

Raw material used in production $76,100.00

Less: Indirect material $4,010.00 $72,090.00

Direct labor $92,100.00

Manufacturing overhead applied $41,100.00

Total manufacturing costs $205,290.00

Add: Beginning WIP $17,100.00

Total cost of work in process $222,390.00

Less: Ending WIP $10,100.00

Cost of goods manufactured $212,290.00

Bledsoe Corporation

Schedule of COGS

Particulars Amount

Cost of goods sold:

Beginning finished goods inventory $48,100.00

Add: Cost of goods manufactured $212,290.00

Cost of goods available for sale $260,390.00

Less: Ending finished goods inventory $56,100.00

Unadjusted cost of goods sold $204,290.00

Add: Underapplied overhead $1,010.00 ($42,110 - $41,100)

Adjusted cost of goods sold $205,300.00

3 0

3 years ago

At your new job, the human resources department ask you to bring two forms of identification before you can start working. Which

Karolina [17]

Answer:

the answer is b

Explanation:

8 0

3 years ago

The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm. Purchased $80,000 of materials on accou

Airida [17]

Journal entry

1. Dr Material 80000

Cr Accounts payable 80000

(Purchase material on account)

2. Dr Work in process 4000

Cr Material 4000

(issue material)

3. Dr Material 56000

Cr Accounts payable 56000

( Purchase material on account)

4. Dr Accounts payable 80000

Cr Cash 80000

(Paid cash of material purchase)

5. Dr Work in process 68000

Cr Material 68000

( Issued material to production)

6. Dr Work in process 100000

Cr Wages payable 100000

(Direct labor incurred)

7. Dr Factory overhead 106000

Cr Cash 106000

( Paid cash on account of factory overhead)

8. Dr Work in process (100000*125%) 125000

Cr Applied factory overhead 125000

( To record applied factory overhead)

9. Dr Factory overhead 50000

Cr Accumulated depreciation 50000

( To record depreciation on plant and equipment)

T-account

Cash Material

Dr___________Cr__ __ DR ___________CR

148200 ---

---80000 80000 ---- 4000

---106000 56000 ---

-- 68000

Work in process Accounts payable

Dr____________Cr___ ___ DR ___________Cr

33000 ---

4000--- 80000 -- 80000

68000-- -- 56000

100000---

125000 ---

Wages payable Factory overhead

Dr ____________Cr__ __ Dr _____________Cr

--- 100000 106000 --

50000 --

Applied factory overhead Accumulated depreciation

Dr_____________Cr__ _ Dr ___________Cr_

--- 1250000 --- 50000

Finished goods Cost of goods sold

Dr_____________Cr__ _ Dr ___________Cr_

166000 --- --- 263400

--- 143200

Material end =?

Material (end) = 148200 +80000+56000-4000-68000=

Work in process (end) = ?

work in process = 148200+166000-143200 =171000

8 0

4 years ago