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
never [62]
2 years ago
7

Brankovich Company uses a job-order costing system and has the following data available: Beginning Direct Materials Inventory $2

6,000 Beginning Work-In-Process Inventory $64,000 Beginning Finished Goods Inventory $58,000 Direct materials purchased on account $148,000 Direct materials requisitioned $90,000 Direct labor cost incurred $130,000 Factory overhead incurred $146,000 Cost of goods completed $292,000 Cost of Goods Sold $256,000 Overhead application rate (based on direct labor cost) 125% What is the cost of the ending inventory of Direct Materials
Business
1 answer:
natka813 [3]2 years ago
4 0

Answer:

$84,000

Explanation:

Open a Raw Materials T - Account and find the Ending inventory of Direct Materials as a Balancing Figure as follows :

Raw Materials T - Account

Debit :

Beginning Inventory                                $26,000

Purchases                                               $148,000

Total                                                         $174,000

Credit:

Requisitioned in Manufacturing             $90,000

Ending Inventory<em>(Balancing figure)        </em>$84,000

Total                                                        $174,000

Therefore,  the cost of the ending inventory of Direct Materials is $84,000

You might be interested in
Oahu Industries' average total assets for the year are $4,000,000, its average total stockholders' equity for the year are $3,00
Mandarinka [93]

Answer:

20%

Explanation:

Return on assets is a profitability ratio that shows how much in net income a company is able to generate from its assets.

It is a financial measure that shows the net profit a company is able to generate per $1 invested in assets.

Mathematically,

Return on asset = net income/average total asset

= $800,000/$4,000,000

= 0.2

= 20%

This means that the company's management is a to generate a net income of 20 cents for every $1 invested in assets.

8 0
3 years ago
Selected financial information for Thornton Company for 2019 follows: Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise
frutty [35]

Answer:

7.80 times

Explanation:

First of all we have to calculate the average inventory

Opening inventory= 159,000

Closing inventory= 200,000

Average inventory= (opening inventory+closing inventory)/2

= ( 159,000+200,000)/2

= 359,000/2

= 179,500

The next step is to find the merchandise inventory turnover which is calculated as

= Cost of goods/ Average inventory

Cost of goods= $1,400,000

Average inventory= 179,500

= 1,400,000/179,500

= 7.799 times

= 7.80 times (to 2 decimal places)

Hence the merchandise inventory was turned over 7.80 times in 2019

7 0
3 years ago
Read 2 more answers
FLASH Delivery has EPS of $6.00 per share and has a payout ratio of 40%. Its dividend is expected to grow at a rate of 5.25%. If
beks73 [17]

Answer:

The answer is "Option c"

Explanation:

The Dividend payout ratio is 40% so that EPS* is the dividend payout ratio of the company:

= 6 \times 40 \% \\\\= \$ \ 2.40

Inventory market value:

= Dividend \times \frac{(1+g)}{(r-g)}

Where r = return rate is needed

g= growth = 5.25\% = \frac{5.25}{100} = 0.0525

\to 22.86 = \frac{(2.4 \times (1+g))}{ r-0.0525}\\\\\to 22.86 = \frac{(2.4 \times (1+0.0525))}{r-0.0525}\\\\\to (22.86 \times r)-(22.86 \times 0.0525)=2.526\\\\\to (22.86  \times r)-1.20015=2.526\\\\\to 22.86r=3.72615\\\\\to r=0.1630\\\\\to r=16.30 \%

6 0
3 years ago
Buying food to feed your family, a lawn mower to care for your lawn, or a car to drive yourself to work are purchases with what
Nata [24]

Answer:

Rational Motive

Explanation:

A rational motive is the willingness to make an action based on logical and rational criteria

4 0
2 years ago
On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale at $140,000. On May 30, Whi
Masteriza [31]

Answer:

A

Explanation:

In this question, we are asked at what value should the land be recorded in White Repair services records.

Technically, the value of land is to be recorded as purchase price plus improvements.

Generally, what we mean by improvements include such fees such as attorney fees. Looking at the question, we cannot find any of the entries that speaks about payment yo an attorney or any general land issue. This means that we only record the value of the land as purchase price only.

Looking at the question, the purchase price is the accepted seller’s counter offer. This value is $115,000. Hence, it is the value at which the land would be recorded in White repair service records

8 0
3 years ago
Other questions:
  • The pharmaceutical company Merck's new drug Vioxx was a blockbuster, generating revenues of $2.5 billion a year by 2002 and grow
    13·2 answers
  • Schuepfer Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 2,600 units ar
    15·1 answer
  • At which stage of the new product development process is a physical product first​ developed?
    15·1 answer
  • To measure ingredients accurately, it is best to measure items in as many
    10·2 answers
  • Which of the following is an application of​ conservatism? A. reporting inventory at the lower of cost or market B. using the sa
    13·1 answer
  • You are responsible for company purchases. You are talking to a salesman from a vendor who wants to sell to your company. You te
    7·1 answer
  • During August 2018​, Bingham Company recorded the​ following: bullet Sales of $ 68 comma 900 ​($ 55 comma 000 on​ account; $ 13
    8·1 answer
  • A yard 3-yard piece of rope costs. $5.85. What is the piece per feet?​
    10·1 answer
  • when demand does not change much after a price change, demand is: a. variable b. static c. elastic d. inelastic
    8·2 answers
  • Colin listed his assets and liabilities on a personal balance sheet.
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!