Answer:
$483,000
Explanation:
The computation of the estimated inventory on May 1, 2018, is shown below:
= Inventory as on Jan 1, 2018 + purchase of inventory + sales on inventory × gross profit rate - sales on inventory
= $470,000 + $895,000 + $1,260,000 × 30% - $1,260,000
= $470,000 + $895,000 + $378,000 - $1,260,000
= $483,000
By applying the above formula we can get the ending estimated inventory
Answer:
Total cost= $6,765
Explanation:
Giving the following information:
Total direct labor-hours 70,000
Total fixed manufacturing overhead cost $511,000
Variable manufacturing overhead per direct labor-hour $ 2.10
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (511,000/70,000) + 2.1
Predetermined manufacturing overhead rate= $9.4 per direct labor hour
<u>Job K913:</u>
Total direct labor-hours 150
Direct materials $ 705
Direct labor cost $4,650
Total cost= 705 + 4,650 + (150*9.4)
Total cost= $6,765
D) Personal attention from instructors in smaller classes
Answer:
Explanation:
The general ledger shows the record for every financial transaction which an organization does. The subsidiary ledger is just used to support the general ledger control account as it gives vital informations on sales, discounts, etc.
Based on the above explanation, the references, indicated by the letter will be posted thus:
a. This will be posted to the subsidiary ledger account.
b. This will be posted to the general ledger account.
c. This will be posted to the general ledger account.
d. This will be posted to the subsidiary ledger account.
e. This will be posted to the general ledger account.
f. This will be posted to the general ledger account.
g. This will be posted to the subsidiary ledger account.
h. This will be posted to the general ledger account
i. This will be posted to the general ledger account.
j. For this, there will be no posting required.
k. This will be posted to the general ledger account.
l. This will be posted to the general ledger account
Responsibility accounting is a system of which the persons in the supervisory capacity such as the President, Departmental head, foremen ect. are given a routine report showing the performance of the company, department, or section as the case may be.
The report will show the data relating to the operational results of the
area and the items of which he is responsible for controlling.
Hope it helps!
