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3 years ago

The following information has been provided by New Age, Inc.:

Business

1 answer:

N76 [4]3 years ago

7 0

Answer:

(D) $ 4,950

Explanation:

The computation is shown below

As We know that

Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of goods manufactured

where,

Total manufacturing cost = Direct materials used + direct labor cost + manufacturing overhead cost

= $10,000 + $25,800 + $19,200

= $55,000

So, the opening work in process inventory would be

$11,200 = Opening work in process + $55,000 - $48,750

So, the opening work in process is

= $4,950

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When the required rate of return for such stocks is 20 percent, the current price of the stock is 15.63.

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The price will be calculated thus:

D1 = 1.25

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Therefore, the current price is 15.63.

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1 year ago

Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of di

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Answer:

The following journal entries are required on declaration date:

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While on distribution date the entries required are:

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Cr Common stock $40000

Explanation:

First of all, the stock dividend of 20% translates to 20000 shares (100000 shares *20%)

At the declaration date the following entries are required:

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Cr Paid-in share capital in excess of par value of $2

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Upon distribution of the stock dividend, the stock dividend in dividends distributable account needs to be reclassified to common stock account as follows

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3 years ago

Dr. Riley, a professor in the economics department, finds that if he keeps his door open, people tend to stop in to say hello. T

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Answer:

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2 years ago

Omega Company makes and sells jungle gyms and tree houses for children. For jungle gyms, the price is $150 and the variable expe

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3 years ago

Read 2 more answers

A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took

Citrus2011 [14]

Answer:

Reduction in work in progress = $7500

Explanation:

given data

time = 10 hours

time = 15 hours

worth = $1,500

to find out

reduction in work in process value

solution

we find work in progress by this formula

work in progress = Flow rate × Cycle Time .......................1

so Initial work in progress is

Initial work in progress = (1 per hour) × 10 hours = 10

and Final work in progress is here

Final work in progress = (1 per hour) × 15 hours = 15

Initial work in progress value = 10 × 1500

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Final work in progress value =15 × 1500

Final work in progress value = $22500

Reduction in work in progress = $22500 - $15000

Reduction in work in progress = $7500

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2 years ago

The following information has been provided by New​ Age, Inc.:

The following information has been provided by New Age, Inc.: