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Licemer1 [7]
3 years ago
9

An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Vaugh

n Company.
VAUGHN COMPANY
Cost of Goods Manufactured Schedule
Work in process (1/1) $220,940
Direct materials
Raw materials inventory (1/1) $
Add: Raw materials purchases 159,120
Total raw materials available for use
Less: Raw materials inventory (12/31) 22,610
Direct materials used $188,420
Direct labor
Manufacturing overhead
Indirect labor 25,620
Factory depreciation 37,200
Factory utilities 76,500
Total overhead 139,320
Total manufacturing costs
Total cost of work in process
Less: Work in process (12/31) 83,230
Cost of goods manufactured $544,240

Business
1 answer:
polet [3.4K]3 years ago
3 0

Answer:

Beginning Raw material Inventory = Direct materials used - Raw Materials purchases + Ending raw materials inventory

= 188,420 - 159,120 + 22,610

= $‭51,910‬

Total cost of work in process = Cost of goods manufactured + Work in process (12/31)

= 544,240 + 83,230

= $627,470

Total Manufacturing costs = Total cost of work in process - Work in process (1/1)

= 627,470  - 220,940

= $406,530

Direct labor = Total Manufacturing costs - Total overhead - Direct materials used

= 406,530 - 139,320 - 188,420

= $78,790

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A government inspection has required your company to upgrade the safety equipment in the manufacturing process of ice creamery.
lapo4ka [179]

Answer: Option E

Explanation: In simple words, the group of factors outside the organisation that are not in the control of the management are called external environment. The legal-political dimension refers to the rules and legislation passed by the authorities for effective operating of the society as a whole.

In the given case, the inspection leading to safety upgrade was done done by the govt. Such requirement depicts that the safety structure was not as per the law passed or rule made.

Hence, from the above we can conclude that the correct option is E.

6 0
3 years ago
At the beginning of the year, Glaser Company estimated the following: Assembly Department Testing Department Total Overhead $702
Arte-miy333 [17]

Answer:

Assebly rate: $ 9.12 per labor hour

Testing rate: $11.43 per machine hour

Explanation:

Assembly Department Testing Department Total

                               $702,000 $786,240 $1,488,240

Direct labor hours        77,000     95,480     172,480

Machine hours             95,500     68,760     164,260

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

<u><em>Assembly rate:</em></u>

702,000 / 77,000 = 9,11688

<u><em>Testing rate</em></u>

786,240 / 68,760 = 11,4347

4 0
3 years ago
Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of
Phantasy [73]

Answer:?????????????????????????????

8 0
3 years ago
Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses ar
weqwewe [10]

Answer:

Results are below.

Explanation:

Giving the following information:

Variable expense= $26,770 ($5,240 increase each quarter)

Fixed expense= $41,680

<u>First, we will calculate the total cost per quarter:</u>

Q1= 26,770 + 41,680

Q1= $68,450

Q2= (26,770 + 5,240) + 41,680

Q2= $73,690

Q3= (32,010 + 5,240) + 41,680

Q3= $78,930

Q4= (37,250 + 5,240) + 41,680

Q4= $84,170

<u>Now, the total cost:</u>

Total annual cost= $305,240

3 0
3 years ago
A business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the
Nastasia [14]

Answer:

a. True

Explanation:

This statement is true, as the business plan is a document that contains all the detailed details of the business objectives, the actions necessary to achieve these objectives and goals.

An effective business plan will be one that will help to reduce the risks and uncertainties added to a business, helping to better position a new organization in the market. Included in the business plan are financial planning, marketing planning, operational planning and all the necessary steps for the company's activities to take place in an anticipated manner, increasing the potential of the organization.

7 0
3 years ago
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