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Shonda Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials:

kotykmax [81]

Answer:

Manufacturing costs incurred during 2017= $769,000

Explanation:

Giving the following information:

Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands):

Direct materials:

Beginning inventory, Jan. 1, 2017= $135,000

Purchases of direct materials= 260,000

Cost of direct materials available for use= 395,000

Ending inventory, Dec. 31, 2017= 72,000

Direct materials used $323,000

Direct manufacturing labor 210,000

Manufacturing overhead costs:

Indirect manufacturing labor= $95,000

Plant utilities= 19,000

Depreciation—plant, building, and equipment= 43,000

Plant insurance= 2,000

Repairs and maintenance—plant= 17,000

Equipment leasing costs= 60,000

Total manufacturing overhead costs 236,000

Manufacturing costs incurred during 2017= direct materials used + direct labor + manufacturin overhead= 323000 + 210000 + 236000= $769,000

3 0

3 years ago

Cost accounting is concerned with: Multiple Choice accumulation and determination of product, process or service cost. income me

Vinvika [58]

Answer:

D. All of the above.

Explanation:

Those stated are all concerned with cost accounting.

4 0

3 years ago

Chester's product manager is considering lowering the price of the Cone product by $2.50 and wants to know what the impact will

lozanna [386]

Answer:

The contribution margin will decrease by 2.50

Explanation:

$Sales \: Revenue - Variable \: Cost = Contribution \: Margin$

IF sales decreases, then the contribution margin decreases.

That's because, there is less money to pay for the variable cost.

The company will also have to sale more units to break even, as now each units contribution is fewer.

Cone's should evaluate how much their sales are expected to increase for the lower price and be cautious

7 0

3 years ago

In order to accept payments by credit card, online merchants typically must have a merchant account established with a bank or f

vivado [14]

Answer:

A. True

Explanation:

For accepting the payment by credit card or by debit card, the online merchant i.e online seller by whom the individual buys the products online.

The online merchant has an agreement with the merchant account and the bank or financial institution so that the individual can able to pay the amount through online mode to the online merchant and in the same time, the amount is deducted from the individual bank account after placing the order

7 0

3 years ago

Gourmet Aroma Coffee House has an exclusive contract with Columbia exporters. Two brands of gourmet coffee are imported, Morning

Marina86 [1]

Answer:

$24,160 favorable

Explanation:

The computation of the total contribution margin sales volume variance is given below:

The Budgeted contribution margin per pound of MT is

= $40 - $20

= $20 per pound

Now the budgeted contribution margin per pound of ET is

= $60 - $30

= $24 per pound

MT's contribution margin sales volume variance is

= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound

= (3960 - 4000) × $20

= $800 Unfavorable

ET's contribution margin sales volume variance is

= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound

= (5,040 - 4000) × $24

= $24,960 favorable

Now the total contribution margin sales volume is

= $800 unfavorable + $24,960 favorable

= $24,160 favorable

8 0

2 years ago