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Shkiper50 [21]
3 years ago
6

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,100. During the month, it

was assigned the following costs: direct materials, $77,100; direct labor, $25,100; and factory overhead, 70% of direct labor cost. Also, inventory with a cost of $114,500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:
a.$16,370.

b.$113,300.

c.$83,839.

d.$198,339.

e.$68,970.
Business
1 answer:
MaRussiya [10]3 years ago
8 0

Answer:

a.$16,370.

Explanation:

beginning WIP cost:      11,100

cost added during the period

materials                       77,100

direct labor                  25,100

overhead 70% of DL = 17,570

total added                  119,770

Total cost to be accounted for: 130,870

Cost assignned to

transferred out       114,500

ending WIP               16.370‬

Total cost assigned to 130,870

As the cost to be accounted and the cost assigned to should match we contruct that and solve for the ending WIP

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Answer:

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market price = $28,514,869

b. Prepare the journal entry to record the bond issuance by Bishop on January 1, 2021.

Dr Cash 28,514,869

Dr Discount on bonds payable 4,485,131

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c. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method.

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Dr Interest expense 1,140,595

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d. Prepare the journal entry to record interest on December 31, 2021, using the effective interest method.

amortization of bond discount = ($28,665,464 x 4%) - $990,000 = $156,619

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3 years ago
Calculate the overhead cost per unit for each Beaker Computer, using overhead rates based on machine hours and setup hours.
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7 0
2 years ago
You just inherited ?$12 comma 00012,000. while you plan to squander some of it? away, how much should you deposit in an account
soldier1979 [14.2K]
44% annual interest sounds too good to be true, but we'll work with it.
Don't know exactly how much is <span>$12 comma 00012,000.
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6 0
3 years ago
2. If information is disseminated, what happens to it?
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Answer:

b

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4 0
2 years ago
The following information for the past year for the Blaine Corporation has been provided:Fixed costs:Manufacturing$ 125, 000$125
natima [27]

Answer:

D. 76.6 %

Explanation:

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<em>First Calculate the Contribution</em>

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<em>Then Calculate Contribution Margin Ratio</em>

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