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tatiyna
3 years ago
9

Myles Manufacturing Company's accounting records reflect the following inventories: Dec. 31, 2014 Dec. 31, 2013 Raw materials in

ventory $620,000 $820,000 Work in process inventory 300,000 220,000 Finished goods inventory 380,000 100,000 During 2014, $900,000 of raw materials were purchased, direct labor costs amounted to $1,000,000, indirect labor costs amounted to $300,000, and manufacturing overhead was $960,000. Based upon the above information, cost of goods sold for the year is: Select one: a. $2,400,000. b. $2,380,000. c. $2,480,000. d. $2,700,000. e. $2,100,000.
Business
1 answer:
Basile [38]3 years ago
3 0

Answer:

Myles Manufacturing Company

Cost of Goods Sold = $2,700,000

Explanation:

Cost of Goods Sold:

Beginning Inventory of Raw Materials = $820,000

Purchase of Materials = $900,000

Less closing inventory of Raw Materials = $620,000

Cost of Raw Materials used in production = $1,100,000

Opening WIP = $220,000

Cost of Raw Materials used in production = $1,100,000

Direct Labour = $1,000,000

Manufacturing Overhead = $960,000

Less Closing WIP = $300,000

Cost of Goods Manufactured = $2,980,000

Opening Finished Goods = $100,000

Cost of Goods Manufactured = $2,980,000

Less closing Finished Goods = $380,000

Cost of Goods Sold = $2,700,000

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algol13

Answer:

story

Explanation:

Based on the inforamation provided describing the scenario it can be said that the underlined missing word is "story". That refers to the entire event that the employee was explaining, which that individual employee experienced first hand. He seems to have explained this story to show how the food co-op was evolving into a more customer service focused company that valued a very specific work ethic.

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3 years ago
PERT and CPM
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Answer:

Answer is option a, i.e. have been combined to develop a procedure that uses the best of each.

Explanation:

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3 years ago
In its 2021 income statement, Cohen Corp. reported depreciation of $3,700,000 and interest revenue on municipal obligations of $
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Answer:

The correct answer is $300,000.

Explanation:

According to the scenario, the computation of the given data are as follows:

First we calculate the difference in depreciation,

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As, Depreciation is for 3 years,

So, depreciation per year = $1,800,000 ÷ 3 = $600,000

Now, we can calculate the deferred income tax liability as follows:

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5 0
3 years ago
The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals:
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Based on the number of people that are employed and those who are unemployed in this town, the unemployment rate is 14.4%.

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The unemployment rate can be found by the formula:
= Employed people / (Unemployed + Employed people)

Solving gives:

= (11,000) / (65,400 + 11,000)

= 11,000 / 76,400

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In conclusion, the rate is 14.4%.

Find out more on the unemployment rate at brainly.com/question/13280244.

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2 years ago
Which of the following statements regarding a monopolist is false? A. The marginal revenue cure lies below the demand curve for
Sati [7]

Answer:

C. The monoplist sets price equal to marginal cost to maximize profit.

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