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
Serjik [45]
3 years ago
6

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020.

Inventory Beginning Ending Raw materials $9,500 $16,180 Work in process 5,670 8,560 Finished goods 9,700 6,800 Costs incurred: raw materials purchases $58,740, direct labor $50,330, manufacturing overhead $23,960. The specific overhead costs were: indirect labor $6,740, factory insurance $4,430, machinery depreciation $4,720, machinery repairs $2,290, factory utilities $3,840, and miscellaneous factory costs $1,940. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Business
1 answer:
Kryger [21]3 years ago
3 0

Answer:

Cost of goods manufactured $  123,460

Cost of goods sold:                 $ 126,360

Explanation:

<em>Raw materials </em>

beginning            9500

purchased           58740

ending               <u>    (16180)   </u>

used in production   52060

<em>cost added </em>

materials         52060

direct materials 50330

overhead     <u>    23960   </u>

total                126350

<em>COGM </em>

beginning WIP   5670

added                126350

ending WIP        <u>   (8560)  </u>

COGM                 123460

<em>COGS </em>

beginning FG  9700

COGM               123460

ending FG       <u>    (6800)    </u>

COGS               126360

You might be interested in
The cash coverage ratio is used to evaluate the:Liquidity of a firmSpeed at which a firm generates cashLength of time that a fir
Studentka2010 [4]

Answer:

The correct answer is letter "C": Ability of a firm to pay the interest on its debt.

Explanation:

The cash coverage ratio is a metric that measures a company's ability to pay its financial obligations. Generally, the higher the coverage ratio the better for the business to meet its debt obligations. It is best to compare coverage ratios of companies in the same industry or sector in the economy. Comparisons across industries are not useful as companies in different industries use debt in different ways.

5 0
3 years ago
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches
shutvik [7]

Answer:

Fixed Overheads Spending Variance = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = $20,000  Favorable (F).

Explanation:

Fixed Overheads Spending Variance = Actual Fixed Overheads  - Budgeted Fixed Overheads

                                                              = $305,000 -  $300,000

                                                              = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = Fixed Overheads at Actual Production  - Budgeted Fixed Overheads

                                                              = ($5.00 × 64,000) - $300,000

                                                              = $320,000 - $300,000

                                                              = $20,000  Favorable (F)

3 0
3 years ago
Instead of canceling their contract, William, Laverne, and Laverne's mother, Irma, form another contract in which they all agree
polet [3.4K]

Answer:

yes it is novation

Explanation:

6 0
3 years ago
Read 2 more answers
You are the manager of the public transit system. You are informed that the system faces a deficit, but you cannot cut service,
AnnyKZ [126]

Answer:

Total revenue rises immedately after the fare increase, since demand over the immediate period is price Inelastic.

Explanation:

Elasticity in the price demand measures the porcentage in the change of the quantity demanded as a response to a change in the price. If the elasticity is more than 0 but less than 1 it means that the price demand is inelastic. So when the price is rised the quantity demand will decrease in a minor porcentage than the rise in the price so it will represent a bigger revenue.

7 0
3 years ago
Tom knows that the title insurance company made a mistake on his property title. Because of their mistake, his neighbor now has
gayaneshka [121]

Answer:

The correct answer is d. risk aversion.

Explanation:

Risk aversion is an investor's preference for avoiding uncertainty in their financial investments.

Due to this attitude towards risk, this type of individuals directs their investment portfolio to safer financial assets even though they are less profitable.

The phenomenon of risk aversion implies by definition a certain level of risk rejection by a person who invests in financial markets. A person may face a risk aversion situation, be risk neutral or be risk prone.

7 0
3 years ago
Other questions:
  • Abc company was originally divided into separate units based on function. last year, abc company expanded into several new geogr
    10·2 answers
  • In​ long-run equilibrium, all firms in the industry earn zero economic profit. Why is this​ true? All firms in perfectly competi
    11·1 answer
  • Economic exposure refers to Multiple Choice the sensitivity of realized domestic currency values of the firm's contractual cash
    5·1 answer
  • Write a critical evaluation of your learning outcome. In your response, consider: 1. Consider the content of this class as they
    7·1 answer
  • Russell Container Corporation has a $1,000 par value bond outstanding with 30 years to maturity. The bond carries an annual inte
    15·1 answer
  • April Stigum will receive a 6 year annuity of $2,000 per year, beginning 7 years from today. In other words, the first payment w
    7·1 answer
  • Harriet recently moved to a posh neighborhood. She buys an expensive car and starts wearing designer clothes so that she fits in
    5·1 answer
  • Which of the following illustrates Forward Vertical Integration? a. Subway sandwich company buying a bakery to make the bread fo
    15·1 answer
  • The federal funds rate is typically ________ the primary credit lending rate. a. greater than b. equal to c. less than d. None o
    6·1 answer
  • we say economists or social scientists are doing positive analysis when they: question 10 options: focus on policies and rhetori
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!