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Arturiano [62]
3 years ago
15

Lopez Corporation incurred the following costs while manufacturing its product.Materials used in product $129,600 Advertising ex

pense $49,600Depreciation on plant 70,200 Property taxes on plant 21,000Property taxes on store 7,690 Delivery expense 31,400Labor costs of assembly-line workers 120,400 Sales commissions 42,400Factory supplies used 29,200 Salaries paid to sales clerks 54,400Work in process inventory was $14,400 at January 1 and $17,000 at December 31. Finished goods inventory was $70,200 at January 1 and $46,400 at December 31.1A: Cost of good manufactured:1B: Cost of goods sold:
Business
1 answer:
Mila [183]3 years ago
5 0

Answer:

$367,800; $391,600

Explanation:

Manufacturing overhead:

= Depreciation on plant + Factory supplies used + Property tax on plant

= 70,200 + 29,200 + 21,000

= 120,400

Total manufacturing cost:

= Material used in production + Labor cost + Manufacturing overhead

= $129,600 + 120,400 + 120,400

= 370,400

Cost of good manufactured:

= Beginning work in process + Total manufacturing cost - Ending work in process

= 14,400 + 370,400 - 17,000

= $367,800

Cost of goods sold:

= cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory

= $367,800 + 70,200 + 46,400

= $391,600

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Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured:
erica [24]

Answer:

1. Glennon Company

Total manufacturing costs and costs of goods sold:

C) $790,000 $810,000

2. Carr Company

Annual Rate of Return for Project Soup:

B) 7.5%.

Explanation:

1A) Total Manufacturing costs

Direct materials used          $270,000

Beginning work in process     40,000  

Direct labor                            200,000

Ending work in process         (20,000 )

Manufacturing overhead      300,000

Total manufacturing costs $790,000

1B) Costs of goods sold:

Beginning finished goods           50,000

Costs of goods manufactured  790,000

less Ending finished goods        (30,000)

Cost of goods sold                   $810,000

2)                                Project Soup       Project Nuts

Initial investment         $400,000           $600,000

Annual net income          30,000                46,000

Net annual cash inflow   110,000              146,000

Annual Rate of Return = Annual net income/Initial Investment

= $30,000/$400,000 x 100 = 7.5%

8 0
3 years ago
1. Describe an example of a task that it might make sense for a company to outsource. (1-2 sentences. 2.0 points) 2. Describe th
Aleksandr-060686 [28]
I am not Sure What the question is explain a little better


3 0
3 years ago
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Hardwig Inc. is considering whether to pursue a restricted or relaxed current asset investment policy. The firm's annual sales a
DerKrebs [107]

Answer:

d. 2.24%

Explanation:

total annual sales = $3,600,000

fixed asset turnover = total sales / fixed assets = 4, that means that total fixed assets = $3,600,000 / 4 = $900,000

debt = 50% = $450,000

equity = 50% = $450,000

EBIT = $150,000

net income = $150,000 x (1 - 40%) = $90,000

restricted policy:

asset turnover = 2.5

sales = $3,600,000 x (1 - 15%) = $3,060,000

EBIT = $135,000

net income = $81,000

assets = $3,060,000 / 2.5 = $1,224,000

equity = $1,224,000 x 50% = $612,000

ROE = $81,000 / $612,000 = 13.24%

relaxed policy:

asset turnover = 2.2

EBIT = $150,000

net income = $90,000

assets = $3,600,000 / 2.2 = $1,636,364

equity = 50% x $1,636,364 = $818,182

ROE = $90,000 / $818,182 = 11%

difference between ROEs = 13.24% - 11% = 2.24%

8 0
3 years ago
Walmart has been opening walmart neighborhood market stores that are one-fifth the size of its supercenters and intended to comp
AleksandrR [38]

Based on the scenario, one risk to this effort is cannibalization. Cannibalization in business is being defined as a situation in which the new product that are released will likely take the demand and sales of another existing product or the competition of this new product that will result the overall sales to be reduced even if the new product sales are increasing.

3 0
3 years ago
A legally protected brand is called a(n) ________.
4vir4ik [10]

A legally protected brand is called a trademark.


Good Luck! :)

3 0
3 years ago
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