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Aliun [14]
3 years ago
13

Townley inc has provided the following data for the month of February. There were no beginning inventories; consequently, the di

rect labor, and manufacturing overhead applied listed below are all for the current month.
Work In Process Finished Goods Cost of Goods Sold Total
Direct materials $4,240 $14,720 $41,680 $60,640
Direct labor 10,040 29,440 83,840 123,320
Manufacturing-
overhead applied 5,830 11,110 34,980 51,920
Total $20,110 $55,270 $160,500 $235,880

Manufacturing overhead for the month was overapplied by $4,200.
The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.
The work in process inventory at the end of March after the allocation of any underapplied or overapplied manufacturing overhead for the month is closest to ______. (Round intermediate percentage computations to the nearest whole percent.)
Business
1 answer:
serious [3.7K]3 years ago
6 0

Answer:

$19,648

Explanation:

The computation of the ending work in process after considering the allocation of any under applied or over applied is shown below:

But for that first we have to find out the percentage of allocated overhead which is given below:

= Work in process manufacturing overhead applied ÷ Total manufacturing overhead applied

= $5,830 ÷ $51,920

= 11%

And, the over applied manufacturing overhead is $4,200

So, its allocation is

= $4,200 × 11%

= $462

Now the ending work in process is

= $20,110 - $462

= $19,648

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g On July 1, Alton Co. issued an $60,500, 10%, 120-day note payable to Seller Co. Assume that the fiscal year of Alton Co. ends
irakobra [83]

Answer:

The interest expense is $521  

Explanation:

The amount of interest expense for the fiscal year is the interest expense of 31 days which ,in other words the interest incurred only in the month of July ,calculated thus:

interest expense=days in the month/360days*interest rate*loan amount

interest expense=31/360*10%*$60,500=$ 521  

The interest expense for the current fiscal year rounded to the nearest dollar amount is $ 521  

8 0
3 years ago
The offeror may _____ the offer at any time prior to acceptance.
ivanzaharov [21]

Answer:

The offeror may retract the offer at any time prior to acceptance.

Most likely the offeror was able to get a better deal somewhere else, which allows the offeror to retract the offer. However, if they had already made a deal, the offeror would have broken the deal, which may result in action.

~

8 0
3 years ago
Romona Company expects its November sales to be 20​% higher than its October sales of $ 240 comma 000. All sales are on credit a
kotykmax [81]

Answer:

The cash balance on November 30 amounts to $155,700

Explanation:

Cash balance on November 30 = Beginning balance + Collection of cash from October sales + Collection of cash from November sales - Payments for October Purchases - Payments for November Purchases

where

Beginning balance is $13,700

Collection of cash from October sales =  October Sales × % amount collected

                                                                = $240,000 × 70%

                                                                = $168,000

Collection of cash from November sales =  November Sales × % amount collected

                                                                = $240,000 × 1.20 × 25%

                                                                = $72,000

Payments for October Purchases = October Purchases × % amount paid

                                                        = $70,000 × 65%

                                                        = $45,500

Payments for November Purchases = November Purchases × % amount paid

                                                        = $150,000 × 35%

                                                        = $52,500

Putting the values in the above formula

Cash balance on November 30 = $13,700 + $168,000 + $72,000 - $45,500 - $52,500

= $155,700

4 0
3 years ago
9. Do you believe it is possible for a global company to simultaneously achieve the goals of global efficiency and integration,
Volgvan
<h2>The given statement is true.</h2>

Explanation:

Let us understand the term, "Global Company".

Any company which is known for its business world-wide is termed as "Global company".

The given statement in the question is true. Yes a global company can achieve everything listed.

Since the company is efficient, they can start business all over the world.

Definitely the can span across the world, only by first satisfying the need of the nation.

Surely they will be known for innovation, because the 21st century needs innovation and a company can be popular only if it shows innovating ability.

All the given achievement is possible to get fulfilled.

4 0
3 years ago
The Edward City Council approved and adopted the budget for its general fund for the fiscal year beginning on January 1, Year 2.
Gala2k [10]

Answer:

A.No entry is required

B.No entry is required

C.No entry is required

D.No entry is required

Explanation:

The Edward City Council

1. Record the journal entries for November 1, Year 1, if any.

No Entry Required

2. Record the journal entries for November 30, Year 1, if any.

No Entry Required

3. Record the journal entries for December 1, Year 1, if any.

No Entry Required

4. Record the journal entries for January 1, Year 2, if any.

No Entry Required

4 0
3 years ago
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