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-Dominant- [34]
3 years ago
14

The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it

was assigned the following costs: direct materials, $76,000; direct labor, $24,000; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $109,000 was transferred out of the department to the next phase in the process.
The ending balance of the Work in Process Inventory account for the Fabricating Department is:

A. $13,000.B. $56,000.C. $59,000.D. $110,000.E. $165,000.
Business
1 answer:
san4es73 [151]3 years ago
5 0

Answer:

A.$13,000

Explanation:

The computation of ending balance is shown below:-

Factory overhead = $24,000 × 50%

= $12,000

Total cost = Direct material + Direct labor + Factory overhead + Current period cost + Opening work in progress

= $76,000 + $24,000 + $12,000 + $10,000

= $122,000

Ending work in progress = Total cost - Cost of units transferred

= $122,000 - $109,000

= $13,000

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<h3>What is bad debts expenses?</h3>

Bad debt are debts owned to a business which cannot be recovered. Here, the customer has chosen not to pay this amount.

Computation of amount to be debited to Bad Debts Expense:

=  Accounts Receivable, debit balance of $97,800 *  3% of outstanding accounts receivable at the end of the current year

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Then,

= $2,934 - $1,021

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Hence, the amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913

Learn more about bad debts expenses here : brainly.com/question/18568784

4 0
2 years ago
The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 9,619 Accounts r
abruzzese [7]

Answer:

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Explanation:

Calculation for the firm's days' sales uncollected for the year

Using this formula

Days' Sales Uncollected Ratio = Ending Accounts Receivable/Net Sales * 365

Let plug in the formula

Days' Sales Uncollected Ratio = ($76,422/$605,500) * 365

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Therefore the firm's days' sales uncollected for the year is: 46.07 days

5 0
2 years ago
Promoters of an LLC are Select one: a. are never personally liable on pre-formation debt. b. always liable on pre-formation debt
Bad White [126]

Answer:

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3 years ago
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Answer:

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Hence, from the given statement of the question ,

The correct term is quantitative management.

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3 years ago
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