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sasho [114]
3 years ago
11

Assumes ABC Company had 50 units in beginning Finished Goods Inventory and sold 1,213 units. Additional data includes: Units pro

duced 1,200 units Direct materials $12 per unit Direct labor 8 per unit Variable manufacturing overhead 2 per unit Fixed manufacturing overhead 7 per unit Using absorption costing, what is the dollar amount of ending Finished Goods Inventory?
Business
1 answer:
worty [1.4K]3 years ago
3 0

Answer:

Dollar amount of ending Finished Goods Inventory = $1,073

Explanation:

The first step is to calculate the cost per unit.

Using absorption costing, the cost of one unit is  

Cost per unit = direct materials + direct labor + variable manufacturing overhead + fixed manufacturing overhead per unit.

Cost = 12 + 8 +2 + 7\\Cost = 29

Now, the number of units left in inventory should be defined

Finished Goods Inventory (FGI) =  Beginning Finished Goods Inventory + Units produced - units sold

FGI = 50 +1200 - 1213\\FGI = 37

The dollar amount of ending Finished Goods Inventory is FGI multiplied by the cost per unit.

37*29 = 1,073

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Answer:

The correct answer is the option C: give too much weight to a small number of vivid observations.

Explanation:

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8 0
3 years ago
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Answer:

The correct answer is letter "D": better match the complexity of the real world.

Explanation:

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3 years ago
What is the minimum number of days for an informal complaint to be resolved? (equal opportunity complaint process, page 2)?
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7 0
3 years ago
EB10.
Mrrafil [7]

Answer:

                                                                        Debit                   Credit

Work in process inventory                            $15,000

Manufacturing overhead clearing account                              $15,000                                    

Explanation:

First determine the amount of applied overhead which can be calculated as follows

Applied overhead=Rate per machine hour*number of hours

Applied overhead=$5*3,000=$15,000

The journal entry for the applied overhead shall be made as follow

                                                                        Debit                   Credit

Work in process inventory                            $15,000

Manufacturing overheads clearing account                              $15,000                                    

8 0
3 years ago
Select all of the true statements regarding Gary Hamel's thoughts on management:
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Answer: • management innovation is essential to future organizational success

• we must look at management as a process, and then make improvements and innovation ongoing and systematic

• much of management theory is dated and doesn't fit the current realities of organizational life

Explanation:

The true statements regarding Gary Hamel's thoughts on management are:

1. management innovation is essential to future organizational success

2. we must look at management as a process, and then make improvements and innovation ongoing and systematic

3. much of management theory is dated and doesn't fit the current realities of organizational life

According to Gary Hamel, yesterday's best practices of organizations can not be creative or adaptable for the business challenges tomorrow.

7 0
3 years ago
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