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JulijaS [17]
2 years ago
9

​First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Beginning Work-in-Process Inventory 38000 Dir

ect Materials Used: Beginning Direct Materials 28000 Purchases of Direct Materials 70000 Direct Materials Available for Use 98000 Ending Direct Materials (33000) Direct Materials Used 65000 Direct Labor 80000 Manufacturing Overhead 38000 Total Manufacturing Costs Incurred during the Year 183000 Total Manufacturing Costs to Account For 145000 ▼ Cost of Goods Manufactured
Business
1 answer:
Ganezh [65]2 years ago
6 0

Answer:

Cost of manufactured period=  $221000

Explanation:

We need to calculate the production during the period.

Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress

Beginning work in progress= $38000

Cost of raw materials= beginning inventory + purchase - ending inventory= 28000 + 70000 - 33000= $65000

Direct labor= 80000

Manufactured overhead=38000

Ending work in progress= 0

Cost of manufactured period= 38000 + 65000 + 80000 + 38000= $221000

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The straight-line depreciation method and the double-declining-balance depreciation method: A. Produce the same depreciation exp
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The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.

<h3>How are the straight-line and double-declining-balance methods related?</h3>

While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.

What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.

In conclusion, option D is correct.

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6 0
2 years ago
Dakota, Inc. is a merchandiser of medallions. The company sold​ 15,100 units during the year. The company has provided the fol
love history [14]

Answer:

$19.21

Explanation:

The computation of the unit cost per item is as follows:

Beginning merchandise inventory $52,000

Add: Purchases + freight in   $293,000  ($280,000 + $13,000)

Less: Ending merchandise inventory -$54,900

Cost of goods sold     $290,100

Now the cost of goods sold per unit is

= $277,100 ÷ 15,100 units

=  $19.21

7 0
3 years ago
Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselv
Bond [772]

The given statement about the reasons why individuals join groups is True.

<h3>What is a Group?</h3>

This refers to the collection of individuals in unison to achieve a set goal or to expand their interests, leveraging on the network of other members.

Hence, we can see that the given statement that Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselves is true.

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5 0
1 year ago
Describe what a petty cash fund is by completing the following sentence. A petty cash fund is used for (large/small) payments in
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A petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

<h3>What is petty cash?</h3>

A petty cash fund is a small amount of cash, used to pay for minor expenses, such as office supplies or employee reimbursements.

It is the pet a actual ledger book, rather than a computer record.

Hence, a petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

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4 0
2 years ago
Some recent financial statements for Smolira Golf Corp. follow:
nalin [4]

Answer:

1. The company's profit margin is 13.4% percent.

profit margin = net income / net sales = $45,064 / $336,329 = 13.4%

2. The total asset turnover is 0.82 times.

asset turnover ratio = net sales / average assets = $336,329 / [($387,891 + $432,000)/2] = $336,329 / $409,945.50 = 0.82

3. The equity multiplier is 1.7 times.

equity multiplier = average total assets / average total equity = $409,945.50 / [($205,936 + $275,000)/2] = $409,945.50 / $240,468 = 1.70

4. Using the Du Pont Identity, the company's ROE is 18.68% percent.

ROE = profit margin x asset turnover x equity multiplier (or financial leverage) = 0.134 x 0.82 x 1.7 = 0.1868 = 18.68%

4 0
3 years ago
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