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Debora [2.8K]
3 years ago
11

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oil

for purchase in June for $90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be: Oil $15,200 P1 8,300 P2 8,600 Work in process 12,900 The desired inventories on June 30 were: Oil $16,100 P1 9,400 P2 7,900 Work in process 13,500 Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Business
1 answer:
alexgriva [62]3 years ago
5 0

Answer:

Befinning inventory           45,000

Add: Direct Materials        3,150,000

Labor                                    240,000

Overhead                             400,000

Avaialble for sale                 3,835,000

Less: Ending Inventory           46,900

Cost Of Goods Sold              3,788,100

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Bill Darby started Darby Company on January 1, Year 1. The company experienced the following events during its first year of ope
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Answer:

Darby Company

The amount of interest payable at December 31, Year 1 is:

$76.67

Explanation:

a) Data and Calculations:

Cash Revenue = $1,300

Bank Note Payable = $2,300

Interest rate on Bank Note = 10%

Issue date of bank note = September 1, Year 1

Term of bank note = 1 year

Amount of interest payable on December 31, Year 1:

= $2,300 * 10% * 4/12 = $76.67

b) The amount of interest payable on the loan totals $230 ($2,300 * 10%).  However for Year 1, the interest payable is reduced to 4 months (September 1 to December 31, Year 1), amounting to $76.67.  This implies that the remaining interest ($153.33) will be payable in the period between January 1 and August 31 in Year 2.  In accordance with the accrual and matching principles of generally accepted accounting principles, interest expense must be accrued to the period when the expense is incurred and matched to the revenue it has generated.

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3 years ago
A branding strategy in which a firm uses the same brand for all or most of its products is called __________ branding.
MrRa [10]

Answer:

Umbrella branding

Explanation:

A branding strategy in which a firm uses the same brand for all or most of its products is called UMBRELLA branding.

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When short-term investments appear in the balance sheet at their current market values, it is an exception to the ______ princip
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What is the maximum amount that OSHA can impose as a penalty on an employer for each Willful violation?
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A company's flexible budget for the range of 35,000 units to 45,000 units of production showed variable overhead costs of $2 per
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Answer:

c. $3,200 favorable.

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We know that

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