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77julia77 [94]
3 years ago
7

Pine Creek Company completed 200,000 units during the year at a cost of $3,000,000. The beginning finished goods inventory was 2

5,000 units at $310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow.?
Business
1 answer:
barxatty [35]3 years ago
5 0

Answer:

$3,085,000

Explanation:

For computing the cost of goods sold for 210,000 units by using the FIFO method first we have to find out the per unit cost which is shown below:

For beginning inventory

= $310,000 ÷ 25,000 units

= $12.4 per unit

For completed units

= $3,000,000 ÷ 200,000 units

= $15

Now the cost of goods sold would be

= 25,000 units × $12.40 + (210,000 units - 25,000 units) × $25

= $310,000 + 2,775,000

= $3,085,000

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Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, th
melomori [17]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Baka Corporation applies manufacturing overhead based on direct labor-hours.

The company based its predetermined overhead rate on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours.

Actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800.

To determine the over or under application of manufacturing overhead, first, we need to calculate the predetermined manufacturing overhead rate:

predetermined manufacturing overhead rate= total estimated manufacturing overhead for the period/ total amount of allocation base

predetermined manufacturing overhead rate= 243,000/8,300= 29.28

Now, we can calculate the allocated overhead:

Allocated manufacturing overhead= predetermined manufacturing overhead rate* actual hours= 29.28*5800= $169,824

Finally, we can determine the under or over allocation:

Under/over allocation= real manufacturing overhead - allocated manufacturing overhead= 244400 - 169824= $74,576 underallocated

4 0
3 years ago
On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately uses the i
xxTIMURxx [149]

Answer:

$127,400

Explanation:

Gross profit ratio = [(sale - cost) ÷ sale price] × 100

                           = [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100

                          = 0.26 × 100

                          = 26%.

Gross profit on down payment is recognized in 2019:

= Down payment × Gross profit ratio

= $490,000 × 26%

= $127,400

5 0
3 years ago
The total market value of a municipality is $25,000,000 and the total assessed value of a municipality is $11,250,000. What is t
gulaghasi [49]

Answer: The equalization rate for the municipality is 45%.

Explanation:

Given that,

Total market value of a municipality = $25,000,000

Total assessed value of a municipality = $11,250,000

Therefore,

Equalization rate for the municipality =\frac{Assesed\ value}{market\ value}

= \frac{11250000}{25000000}

= 0.45

= 45%

Hence, the equalization rate for the municipality is 45%.

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3 years ago
Given the following information, calculate the loan-to-value ratio of this commercial loan: estimated net operating income in th
tatyana61 [14]

Answer:

b. 0.77

Explanation:

The formula to compute the loan to value ratio is shown below:

= Loan amount ÷ Purchase price

= $1,000,000 ÷ $1,300,000

= 0.77

It shows a relationship between the loan amount and the purchase price so that the accurate ratio can come

All other information that is given is not relevant as it is related to the debt yield ratio. Hence, ignored it

7 0
3 years ago
Which type of economy features a direct exchanges of goods or services without the use of money?
gayaneshka [121]

The answer is BARTER or TRADE

7 0
3 years ago
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