All categories

2 years ago

The following information is available for Rodriguez Industries:

Business

1 answer:

shepuryov [24]2 years ago

8 0

Answer:

$183,200

Explanation:

Given that,

Direct labor = $86,000

Total current manufacturing costs = $381,000

Manufacturing overhead is applied to production:

= 130% of direct labor cost

= 1.30 × $86,000

= $111,800

Total manufacturing costs = Direct material + Direct labor + Manufacturing overhead.

$381,000 = Direct material + $86,000 + $111,800

Direct material = $381,000 - $86,000 - $111,800

= $183,200

Therefore, the amount of direct materials used in production is $183,200.

You might be interested in

Kenneth, a food blogger, is paid a handsome fee by a new restaurant to write an article about it. The assignment came with a rid

Lina20 [59]

Answer:

Sense of independence

Explanation:

Basically Kenneth is writing a draft and signing it. The client, will probably change some (if not most) of Kenneth's article, specially any part where Kenneth might criticize the restaurant's service or exaggerate any good service provided by the restaurant. The content of the article itself will be determined by the client.

Kenneth should be independent and impartial when writing an article critique, since writing what the restaurant wants is simply advertising. Sadly this is very common on certain industries, that is why all the movies are excellent or the best of all times, no matter how bad they are.

8 0

3 years ago

At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $10. A summary of purchases

jeka94

Answer:

a. Cost of Goods Sold under FIFO method - $ 29.800

Ending inventory under FIFO method - $ 28,400

b. Cost of Goods Sold under average cost method - $ 33,950

Ending inventory under average cost method - $ 24,250

Explanation:

Units Unit Cost Cost

Beginning Inventory 1,000 $10 $10,000

Purchase #1 1,800 $ 11 $ 19,800

Purchase #2 800 $ 13 $ 10,400

Purchase #3 1,200 $ 15 $ 18,000

Total available 4,800 $ 58,200

Units sold ( 2,800)

Ending Inventory 2,000

Computations under FIFO method

In the FIFO method of cost flows, the cost of goods sold are considered from the opening inventory and the earlier purchases. The ending inventory is from the later purchases.

Cost of goods sold

Units sold 2,800

Opening inventory 1,000 units @ $ 10 $ 10,000

Purchase # 1 1,800 units @ $ 11 $ 19,800

Total cost of Goods sold $ 29,800

Ending Inventory

Units on hand 2,000

Purchase #2 800 $ 13 $ 10,400

Purchase #3 1,200 $ 15 $ 18,000

Ending Inventory $ 28,400

Computations under Average Cost method

Under average cost method, the cost of goods sold and the ending inventory is valued at the average cost of the goods available for sale divided by the number of units.

The average cost is calculated by dividing the total cost by the available units

Total Cost $ 58,200

Units available 4,800

Average cost per unit $ 12.13

Cost of goods sold = Units sold * Average cost = 2,800 * $ 12.13 = $ 33,950

Ending Inventory- Units in hand * Average Cost = 2,000 * $ 12.13= $ 24,250

6 0

3 years ago

Read 2 more answers

Patty Corporation holds 75 percent of Slider Corporation's voting common stock, acquired at book value. The fair value of the no

Marina86 [1]

Answer:

1) d. $175,000

2) b. $156,250

Explanation:

1. The computation of net income for 20X9 under the treasury stock method is shown below:-

Net income for 20X9 under the treasury stock method = Janet Operating income + Slider operating income

= $100,000 + $75,000

= $175,000

2. The computation of income assigned to the controlling interest for 20X9 is shown below:-

income assigned to the controlling interest for 20X9 = Janet Operating income + (Slider operating income × Remaining percentage)

= $100,000 + ($75,000 × 75%)

= $100,000 + $56,250

= $156,250

Therefore we have applied the above formulas.

5 0

2 years ago

You recently purchased a stock that is expected to earn 30 percent in a booming economy, 9 percent in a normal economy, and lose

sergiy2304 [10]

Took me a bit to understand what this is. I have no business sense at all.

Expected Rate of Return = 30%*5% + 9%*75% - 33% * (100 - 75 -5)%
Expected Rate of Return = 0.015 + 0.0675 - 33%*20%
Expected Rate of Return = 0.015 + 0.0675 - 0.066
Expected Rate of Return = 0.0165

This then is expressed as a %
0.0165 = 1.65 % Sounds like you are buying a US short term treasury.
If anyone else answers, take their answer.

3 0

3 years ago

Sudoku Company issues 29,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $245

Alexeev081 [22]

Answer:

The Journal entry is as follows:

Land A/c Dr. $245,000

Building A/c Dr. $374,000

To Common stock, $8 par value $232,000

To Paid-in capital in excess of par value, common stock $387,000

(To record issuance of the stock in exchange for the land and building)

Workings:

Common stock = $8 × 29,000 shares

= $232,000

5 0

2 years ago