1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gtnhenbr [62]
3 years ago
15

Costs of goods sold of a manufacturing represents the costs related to building a product that are expensed when it is sold. to

determine costs of goods​ sold, three formulas where used representing the three different categories of inventory. which schedule is based on work in process​ inventory?
Business
1 answer:
Anastasy [175]3 years ago
3 0

There are 3 types of Inventory as below:

1) Raw Material Inventory

2)Work in Process Inventory

3)Finished Goods Inventory

Schedule for Work in Process Inventory is as below:

Beginning Balance of Work in Process...................................................................XXX

Direct Materials

Beginning Balance of Direct Materials................................XXX

Add: Purchase of Raw Materials...........................................XXX

Total Raw Materials Available...............................................XXX

Less: Ending Balance of Raw Materials..............................(XXX)

Raw Materials Consumed.....................................................................XXX

Direct Labour...........................................................................................XXX

Manufacturing Costs

Indirect Labour....................................XXX

Factory Repairs...................................XXX

Factory Utility......................................XXX

Total Manufacturing Overhead............................................................XXX

Total Manufacturing Costs....................................................................................XXX

Total Cost of Work in Process..............................................................................XXX

Less: Ending Balance of WIP................................................................................(XXX)

Cost of Goods Manufactured................................................................................XXX

You might be interested in
Vaida, a manager, sets up delivery schedules for the logistic team for the orders received online, as part of their new e-Commer
german

Answer: Operational planning

Explanation:

 Operational planning is one of the type single use plans and it is used for planning the strategic goals.

The main purpose of the operational planning is that it providing the clear picture regarding the basic responsibilities and the specific task in an organization and divided the task between member of the specific team.

According to the question, vaida is a manager in an organization and vaida is using the operational planning for setting up the schedule for logistic team.

Therefore, Operational planning is the correct answer.

4 0
3 years ago
Read 2 more answers
Anita’s take-home pay is $2200 a month. she spends 14% of her take-home pay on groceries. How much is Anita’s monthly grocery bi
irinina [24]

14% of $2200 = $308 is the amount of Anita's monthly grocery bill.

7 0
3 years ago
At the beginning of the year, a company's balance sheet reported the following balances: Total Assets = $225,000; Total Liabilit
uysha [10]

Answer:

correct option is d. $96,000

Explanation:

given data

Total Assets = $225,000

Total Liabilities = $100,000

Common Stock, $25,000

Retained Earnings = $100,000

to find out

balance in the retained earnings account at the end of the year

solution

we apply here equation of Retained earnings Ending balance that is

Retained earnings Ending balance = Retained earnings Beginning balance + Net income - Dividends       .........................1

and we know that net income is here

Retained earnings Ending balance = Retained earnings Beginning balance + (Revenues - Expenses) - Dividends

so put here value

Retained earnings Ending balance = 100,000 + (46,000 - $30,000)-20,000

so

Retained earnings Ending balance will be  = 100,000 + 16,000 - $20,000

Retained earnings Ending balance is  = $96,000

so correct option is d. $96,000

3 0
3 years ago
What season comes next after winter?
padilas [110]
The season that comes after winter is:

Spring
7 0
3 years ago
Read 2 more answers
Students must choose to use their time after school either to work, to complete homework, or to relax. Which concept does this i
sweet [91]
The best answer is B) Scarcity

Scarcity refers to the fact that we do not have an unlimited amount of resources with which to obtain the things we want. In this case, students have various obligations and desires, such as working, relaxing, and doing homework, but a scarcity of time with which to do these things. 
3 0
3 years ago
Other questions:
  • Two portfolio managers use different procedures to estimate alpha. one uses a single index model regression, the other the fama-
    13·1 answer
  • With respect to leadership in the accounting profession, it might be said that: rev: 04_19_2017_qc_cs-86230  partners must exhi
    14·1 answer
  • Prompt<br> What are the factors of production? Government online class !?!
    15·1 answer
  • Which of the following is a business strategy in which a product in its most basic version is provided free of charge but the co
    7·1 answer
  • A company that evaluates its long-haul truck drivers based on miles driven over the past 12 months is using subjective appraisal
    8·1 answer
  • In an open economy the GDP is $12 trillion this year. Consumption is $8 trillion, and government spending is $2 trillion. Taxes
    8·1 answer
  • Suppose that it is friday night, that xavier and her friends have been out at a party, and that they are now heading home. suppo
    8·1 answer
  • describe a career you would like to have, and explain how you could get started and then advance in that career.
    6·2 answers
  • Joanna is a Master Sergeant in the U.S. Air Force. In June of 2019, her duty station changed from Offutt Air Force Base in Nebra
    12·1 answer
  • Suppose Mr . Jacobs is a successful candidate.draw up his employment contracts and include five espect of the employment contrac
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!