1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Leno4ka [110]
3 years ago
5

Abramov Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold a

t the end of the month. In May the company completed job N29W that consisted of 22,200 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job N29W shows that the job's total cost was $737,040. During the month, the actual manufacturing overhead cost incurred was $227,180 and the manufacturing overhead cost applied was $212,380. Also during the month, 7,400 completed units from job N29W were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for May is closest to:______
a. $737,040
b. $714,540
c. $245,680
d. $250,600
Business
2 answers:
Alexxx [7]3 years ago
8 0

Answer:

The correct option is C

Explanation:

As per given information, the total production cost for N29W job in May has been documented as  $737,040.

For the same month and same job, the total units produced were 22200

Cost of producing one unit = Total cost/ total units

=$737,040./22,200 units

=$33.2 per unit

This is the cost of one unit without any adjustment

Now the total number of goods sold without any adjustment are 7400. Cost actually incurred in these would be

= $33.2 × 7,400

= $245,680

Hence the option C is the correct one

brilliants [131]3 years ago
3 0

Answer:

Option c is correct

$245,680

Explanation:

The total manufacturing cost = $737,040.

Units produced = 22,200

Cost per unit before adjustment for absorbed overhead=

=$737,040./22,200 units

=$33.2 per unit

Cost of goods sold before adjustment for overheads

= (cost per unit × units sold)

= $33.2 × 7,400

= $245,680

You might be interested in
Roberta transfers property with a tax basis of $495 and a fair market value of $546 to a corporation in exchange for stock with
Volgvan

Answer: $546

Explanation:

The amount realized by Roberta in the exchange will be gotten through the addition of the fair value of the stock that was acquired to the liability that's assumed by the corporation. This will be:

Fair value of stock acquired = $356

Add: Liability assumed by corporation = $190

Amount realised = $356 + $190 = $546

5 0
3 years ago
Calvin works in the accounting department for a textbook publishing firm preparing budgets and reporting production costs. What
Anarel [89]

Answer:

The answer is "managerial accountant".

Explanation:

The economic circumstances collect and earned value collection of data, evaluating and presenting financial information for the organization or the management team of the company. These statistics will then be used to make sensible financial decisions that really can benefit the overall growth of the organization.

Managers were employing company and organizational accounts to monitor internal financial processes, revenue, spending, and budget, submit reports, determine past trends and forecast future needs, and aid economic decisions.

5 0
3 years ago
"In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 whe
Oksana_A [137]

Answer:

b. constant returns to scale because average total cost is constant as output rises.

Explanation:

The question has options. Below is the complete question.

<u>Complete Question</u>

In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 when output is 40 kayaks. The kayak company exhibits

a. diseconomies of scale because total cost is rising as output rises.

b. constant returns to scale because average total cost is constant as output rises.

c. diseconomies of scale because average total cost is rising as output rises.

d. economies of scale because average total cost is falling as output rises.

The correct answer is explained below.

In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 when output is 40 kayaks. The kayak company exhibits  constant returns to scale because average total cost is constant as output rises.

6 0
3 years ago
Read 2 more answers
For a normal good, if the price of a substitute good decreases then:
geniusboy [140]

Answer:

(B) the demand curve shifts leftward while the supply curve stays the same.

Explanation:

"Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases. "

Reference: Khan Academy. “Price of Related Products and Demand.” Khan Academy, Khan Academy, 2019

8 0
3 years ago
A bank can borrow or lend at LIBOR. Suppose that the six-month rate is 4% and the nine-month rate is 5%. The rate that can be lo
Svetlanka [38]

Answer: Interest rate from Banks

Explanation: The Opportunities open to the bank areas follows-1.Customers Visiting the bank for loans 2. This will encourage retained earnings for the bank. 3. The interest rate will increase the bank equities on the stock exchange market. 4. This will attract investment opportunities in other sectors for the bank.

4 0
3 years ago
Other questions:
  • Which of the following is an example of groupthink? A. Everyone on the team agrees with whatever you have to say with very limit
    5·2 answers
  • Diane initially deposited $12,500 into a money market account and made no additional deposits or withdrawals. When she closed th
    13·2 answers
  • When a case is appealed, the court of appeals decides the case solely based upon?
    14·1 answer
  • Jensen performed legal services to assist Balm Co. in accomplishing its initial organization. Jensen accepted 1,000 shares of $5
    12·1 answer
  • When writing routine requests, you should expect strong resistance from message recipients?
    14·1 answer
  • An asset used in a 4-year project falls in the 5-year MACRS class for tax purposes. The asset has an acquisition cost of $9,100,
    11·1 answer
  • Here are simplified financial statements for Watervan Corporation. INCOME STATEMENT (Figures in $millions)Net sales $881Cost of
    8·1 answer
  • n spreadsheet programs, labels and constant values are always copied exactly to the new location; what happens to formulas when
    10·1 answer
  • For all practical purposes, listed stock options always expire
    13·1 answer
  • You are replacing a team’s leader and have noticed a number of team norms. If you are wondering how certain behaviors got establ
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!