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
ss7ja [257]
2 years ago
8

Current information for the Healey Company follows: Beginning raw materials inventory $ 29,200 Raw material purchases 74,000 End

ing raw materials inventory 30,600 Beginning work in process inventory 36,400 Ending work in process inventory 42,000 Direct labor 56,800 Total factory overhead 44,000 All raw materials used were traceable to specific units of product. Healey Company's cost of goods manufactured for the year is:
Business
1 answer:
Rzqust [24]2 years ago
3 0

Answer:

cost of goods manufactured= $167,800

Explanation:

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

First, we need to determine the direct material used in production:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 29,200 + 74,000 - 30,600= 72,600

cost of goods manufactured= 36,400 + 72,600 + 56,800 + 44,000 - 42,000

cost of goods manufactured= $167,800

You might be interested in
What is input, conversion process, and output
blondinia [14]
Hello!

Think of a machine. You put something in. This is the input. The conversion process is whatever goes on inside the machine. Let's say that the machine will spray paint a vase you put into it.  The vase is the input. The spray painting is the conversion process. What comes out of the machine, or the result, is the output. In our example it would be the painted vase.

The conversion process changes the input into the output.

For example, think of a function, or a table. Let's say that we have the rule, +1. Let's say our input is 1. The conversion process is +1. This makes 1 become the output of two.

I hope this helps!
6 0
3 years ago
Carter co. sells two products, arks and bins. last year, carter sold 14,000 units of arks and 56,000 units of bins. related data
grigory [225]
The answer to the problem below is:

Carter Corporation sells two products, one is Arks and the other one is Bins. Last year, Carter Corporation was able to sell 14,000 units of Arks and 56,000 units of Bins. The related data are the following listed below:
 1. unit contribution, selling, unit variable and product
2. price cost margin
6 0
3 years ago
Determine which of the following statements are correct regarding damaged or obsolete goods. (Check all that apply.)
fenix001 [56]

Answer:

1.  Damaged or obsolete goods are not counted in inventory if they cannot be sold.  

2.  If these can be sold… Cost should be reduced to Net Realizable Value

Explanation:

The law relating to the valuation of inventory is that ''inventory should be valued at lower of 'Cost' and 'Net Realizable Value'.

Therefore in the case of damaged or obsolete goods, they have to be eliminated from inventory, otherwise it will lead to overvaluation.

However in the case where these can be sold, They have to be valued at lower of 'cost' or 'salable value', implying that 'Cost' should be reduced to 'Net Realizable Value'

8 0
3 years ago
Which of the statements below is NOT correct? 1.If two investments have the same expected return, the investment with the lower
anastassius [24]

Answer:

2. If two investments have the same expected return, the investment with the greater risk is preferred.

Explanation:

The statement above is clearly incorrect. If two investment are expected to return the same amount of money to the investor, then, the investor will seek the investment that has a lower risk, because risk, as the meaning of the word implies, is a variable that may impede the realization of the return.

No rational economic agent or investor would choose the riskier investment in this situation.

5 0
2 years ago
On October 1, 2021, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 1
irakobra [83]

Answer:

a). Partial-year depreciation for 2021 is $4,675

b). Partial-year depreciation for 2022 is $18,700

Explanation:

The final value of the equipment after 10 years=$4,000

Depreciation=Initial purchase value-residual value after 10 years

where;

Initial purchase value=$191,000

Value after 10 years=residual value=$4,000

Replacing;

Depreciation=(191,000-4,000)=187,000

In 10 years the equipment will have depreciated by $187,000

Average depreciation per year=Depreciation/service life

Average depreciation per year=(187,000/10)=$18,700

Partial-year depreciation for;

2021

Service life is from October-December=3 months service life

Partial-year depreciation=(3/12)×18,700=$4,675

Partial-year depreciation for 2021 is $4,675

2022

Service life is for the whole year=12 months service life

Partial-year depreciation=(12/12)×18,700=$18,700

Partial-year depreciation for 2022 is $18,700

8 0
3 years ago
Other questions:
  • North Around, Inc. stock is expected to return 22 percent in a boom, 13 percent in a normal economy, and −15 percent in a recess
    11·1 answer
  • Oakland Corporation reported a net operating loss of $500,000 in 20X3 and elected to carry the loss forward to 20X4. Not include
    11·1 answer
  • George retired from a local law firm and then volunteered to oversee a nonprofit's legal records. george is performing the dutie
    5·1 answer
  • firm x projects an roe of 14% and it will maintain a pplowback ratio of .45 its earnings this year will be 3.60 per share invest
    6·1 answer
  • Which of the following statements regarding fiscal policy are true according to the macroeconomic consensus in the United States
    7·1 answer
  • Why is it important to site? Name at least three reasons
    7·2 answers
  • What will happen when a text in a paragraph in Word is double-clicked?
    11·1 answer
  • A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve Upper S 2 to ______________.
    11·1 answer
  • You’re a project manager of a small team. You have received some resumes to review, and a few of them look well qualified, but t
    5·1 answer
  • A legal agreement that helps protect a lender if a borrower does not make required payments on notes or bonds is called a(n):
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!