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aliina [53]
3 years ago
15

Number the following in the order of the flow of manufacturing costs for a company.

Business
1 answer:
Tpy6a [65]3 years ago
4 0

Answer:

B. Materials purchased.

F. Materials requisitioned to jobs.

C. Factory labor used and factory overhead incurred in production.

E. Factory overhead applied to jobs according to the predetermined overhead rate.

D. Completed jobs moved to finished goods.

A. Closing under/overapplied factory overhead to Cost of Goods Sold.

G. Selling of finished product.

H. Preparation of financial statements to determine gross profit.

Explanation:

Manufacturing costs can be defined as the overall costs associated with the acquisition of resources such as materials and the cost of converting these raw materials into finished goods. Manufacturing costs include direct labor costs, direct materials cost and manufacturing overhead costs.

The order of the flow of manufacturing costs for a company in an ascending order is;

1. Materials purchased.

2. Materials requisitioned to jobs.

3. Factory labor used and factory overhead incurred in production.

4. Factory overhead applied to jobs according to the predetermined overhead rate.

5. Completed jobs moved to finished goods.

6. Closing under/overapplied factory overhead to Cost of Goods Sold.

7. Selling of finished product.

8. Preparation of financial statements to determine gross profit.

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Altoona Corporation has two divisions, Hinges and Doors, which are both organized as profit centers. The Hinge Division produces
Luden [163]

Answer:

Minimum transfer price = $21

Explanation:

<em>Transfer price is the price at which goods are exchange between branches or divisions of the same group</em>

<em>Where  a division is operating at the less than the existing capacity, to optimist the group profit, the minimum transfer price should be set as follows</em>

Minimum transfer price = Variable cost

Note that the fixed of $12 per unit (i.e 33-21) is irrelevant for this purpose, whether or not Hinges produces, it will be incurred either way.

It is worthy of note that there is no opportunity cost associated with any transfer to the Doors division because Hinges is currently having excess capacity.

Therefore, any offering price equal to or above the variable cost of $21 would be acceptable and optimize the group profit.

Hence, the minimum transfer price = $21

3 0
3 years ago
At the beginning of the semester, the humanities instructor explains that there will be ten surprise quizzes over the semester,
katen-ka-za [31]
This is an interval schedule of reinforcement
6 0
3 years ago
You deposit $1,500 in a bank where you have a savings account. The bank
skad [1K]
Interest rate risk

Interest rate risk is the risk that arises for fixed-rate investments from fluctuating interest rates. How much interest rate risk a fixed-rate investment has depends on how sensitive its price is to interest rate changes in the market.
8 0
3 years ago
On average, managers spend the least amount of time doing which managerial activity?
Aleks [24]

On average, managers spend the least amount of time doing the managerial activity is networking.

What is networking?

Networking is the technique  of making connections with respect  of the business environment. Managers very often  get involved in developing  relationships and making their own networks. They are accountable for monitoring and completing the given task in an effective  way. So, they basically  focus on many managerial activities like decision-making, planning things, communicating the required information, managing employees, etc.

Which managerial function is the most important?

The  most important function of management is Planning. Planning means  setting objectives in order to achieve , a goal in a limited time period .Several alternatives are formulated in order to achieve the goals.

Learn more about managerial activity:

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6 0
1 year ago
Coffman Company sold bonds with a face value of $1,080,000 for $1,020,000. The bonds have a coupon rate of 9 percent, mature in
Neko [114]

Answer:

Coffman Company

Journal Entries:

January 1 - Sale of Bonds

Debit Cash Account with $1,020,000

Debit Bonds Discount with $60,000

Credit Bonds Payable with $1,080,000

To record the sale of 9% bonds at a discount.

June 30:

Debit Interest on Bonds with $48,600

Credit Cash Account with $48,600

To record payment of interest on June 30.

Explanation:

1. Bonds as a financing source can be issued at par value, premium, or discount.  It is issued at a discount when the interest rate is less than the market rate.  The purpose of issuing them at a discount is to attract investors to purchase the bonds, which will be repaid at the par value.

2. Interest for the half-year was calculated as follows: $1,080,000 x 9%/2 since the interest is payable semiannually.  This implies that the effective semiannual interest rate is 4.5%.

3 0
3 years ago
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