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
You purchased 2,200 shares of the New Fund at a price of $25 per share at the beginning of the year. You paid a front-end load o
Sati [7]

Answer:

rate of return 9.22%

Explanation:

15% return on fund value - 2.4% fund expenses = 12.6% net fund gain

then, the shares were purchased with a loan which required to paiy 3% of interest up-front

therefore, we didn't invest 100% of the loan but 97%

0.97 x .126 =  0,12222

now, we subtract the 3% paid of interest:

.1222-0.03 = .0922 = 9.22%

7 0
3 years ago
Ram Company's after-tax net income was $120. Their interest paid was $50. Assuming the corporate tax is 40%, what is Ram Company
Nataliya [291]

Answer:

5

Explanation:

The formula to compute the interest coverage ratio is shown below:

= (Earning before tax + interest expense) ÷ (interest expense)

where,

Earning before tax equal to

= Net income ÷ (1 - tax rate)

= $120 ÷ (1 - 0.40)

= $200

And interest expense is $50

So, the interest coverage ratio equal to

= ($200 + $50) ÷ ($50)

= 5

4 0
3 years ago
2 2 user: the cost to mail a package is $7 for the first 2 pounds and 30 cents for each additional ounce. which of the following
NARA [144]

f(x) = 7 + 0.3x

tell me if I am wrong

7 0
3 years ago
1. What does it mean to set up an “automatic deposit” and why is this a good savings strategy?
Andrews [41]

Answer:

an automatic deposit will put a set amount of money away into savings without you having to do it that way you will not have to worry about it and won't be tempted to spend it instead of saving it. it's a good strategy because it eliminates that temptation and makes it so much easier to save without falling off track

3 0
2 years ago
Vance has a vested account balance in his employer-sponsored qualified profit-sharing plan of $40,000. He has two years of servi
Maurinko [17]

Answer: $5,000

Explanation:

Per the requirements of qualified plans that permit loans, the maximum amount that an individual can withdraw is whichever is lesser between $50,000 and 50% of their Vested Account Balance.

Vance in this scenario has a vested account balance of $40,000.

50% of that would be $20,000.

That means that he can be loaned $20,000. However, he already has an outstanding loan balance that must be accounted for of 15,000.

Subtracting those figures we have,

= 20,000 - 15,000

= $5,000

The maximum loan that Vance can take from the qualified plan is $5,000

7 0
3 years ago
Other questions:
  • A natural disaster is an example of what type of risk?
    11·1 answer
  • Fuller Company builds swimming pools. Fuller budgets that they will sell 12 pools during the month of April at a price of $20,17
    14·1 answer
  • A grapefruit farmer in central Florida is trying to decide whether to take protective action to limit damage to his crop in the
    11·1 answer
  • Ang Electronics, Inc., has developed a new DVDR. If the DVDR is successful, the present value of the payoff (when the product is
    14·1 answer
  • Skidmore Music Company had the following transactions in March: Sold instruments to customers for $16,300; received $11,200 in c
    9·1 answer
  • In this business structure a common view of a firm is as a hierarchy organized around a set of functions. Each group has a core
    12·1 answer
  • Interorganizational systems are examples of _____.
    5·1 answer
  • Sam received $10.50 in interest after placing money in his bank. if the account paid 4% in simple interest and he only left it i
    14·1 answer
  • what are the typical interest rates for a traditional savings account, online savings account, certificate of deposit, and money
    11·1 answer
  • Someone please help !!
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!