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Dafna11 [192]
3 years ago
8

superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct

materials): Selling expenses $ 211,000 Purchases of raw materials $ 263,000 Direct labor ? Administrative expenses $ 159,000 Manufacturing overhead applied to work in process $ 364,000 Actual manufacturing overhead cost $ 350,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 56,000 $ 34,000 Work in process ? $ 25,000 Finished goods $ 35,000 ? The total manufacturing costs for the year were $685,000; the cost of goods available for sale totaled $730,000; the unadjusted cost of goods sold totaled $669,000; and the net operating income was $37,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)
Business
1 answer:
weeeeeb [17]3 years ago
5 0

Answer:

h

Explanation:

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When an entire job is broken down into a number of steps, rather than being done by one individual, and each step is completed b
iragen [17]

The correct answer is work specialization. This is also known as division of labor in which this is being referred in regards with the degree of an organization that are likely to have a division of individual task into separate jobs.

7 0
3 years ago
Read 2 more answers
Your company manufactures riding lawn mowers.One of your customers,Marie,writes a claim,demanding a compensation for her faulty
Alekssandra [29.7K]

Answer: D) As stated in our contract,we are liable to pay compensation only when our personnel repair the equipment

Explanation:

Based on the information given in the question, the best way to phrase the refusal of Marie's claim for adjustment is that "As stated in our contract, we are liable to pay compensation only when our personnel repair the equipment".

Since a service executive in the company discovers that the mower was dismantled by someone, then Marie's claim for adjustment can be refused since it wasn't dismantled by someone from the company.

4 0
3 years ago
Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produc
Mademuasel [1]

Answer:

Tucker Company

The number of board feet of wood that Tucker needs to purchase in February is:

=  46,297.

Explanation:

a) Data and Calculations:

Production Budget

                                               January   February      March      Total

Units Produced                         11,297       12,205      9,276   32,778

Board fee for each chair             4                4                4           4

Total board feet required       45,188       48,820     37,104    131,112

Board feet required               45,188       48,820     37,104    131,112

Ending Materials Inventory    9,764           7,421

Beginning Materials Inventory     (0)        (9,764)     (7,421)

Purchase of board feet        54,952      46,297

3 0
3 years ago
Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th
Ket [755]

Answer:

The correct answer for option (a) is $3,080 and for option (b) is $2,141.

Explanation:

(a). Current pay = $44

After 40 hours, Pay = $44 × 1.5 = $66

So, we can calculate the gross pay by using following formula:

Gross pay = (40 hours × $44 ) + (20 hours × $66)

= $1,760 + $1,320

= $3,080

(b).

Security Tax = Gross pay × 6% =  $3,080 × 6% = $184.8

Medicare Tax = Gross pay × 1.5% =  $3,080 × 1.5% = $46.2

Federal Income Tax = $708

So, we can calculate the net pay by using following formula:

Net Pay = $3,080 - $184.8 - $46.2 - $708

= $2,141

3 0
3 years ago
When do many companies expect to have a net loss
Korolek [52]
When outflow exceeds income.
6 0
3 years ago
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