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almond37 [142]
3 years ago
8

The following information pertains to a manufacturing company: Beginning finished goods inventory $48,000 Manufacturing overhead

$23,000 Cost of goods manufactured $117,000 Direct labor costs were $38,000 Ending finished goods inventory $43,000 Direct materials costs $53,000 What was the company’s cost of goods sold?
Business
1 answer:
EleoNora [17]3 years ago
7 0

Answer:

COGS= $122,000

Explanation:

Giving the following information:

Beginning finished goods inventory $48,000

Cost of goods manufactured $117,000

Ending finished goods inventory $43,000

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 48,000 + 117,000 - 43,000

COGS= $122,000

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Consumers might not realize that old spice health and wellness products and iams pet nutrition products are made by the same com
Eddi Din [679]

Answer: The correct answer is individual brands.

Explanation: Although both products are produced by Procter and Gamble, they each have their own brand name. They are individual brands that are produced by the same company.

6 0
3 years ago
Which of the following manufacturing costs is an indirect cost of producing a product? amissions for sales personnel b.memory ch
Akimi4 [234]

Answer:

The answers are the c) oil lubricants used for factory machinery and the d) hourly wage of an assembly worker

Explanation:

Indirect manufacturing costs are the costs that a factory must cover for the manufacture of a product, apart from materials and direct labor. They relate to the entire operation of the company and overcome the manufacturing process of a specific product. They are also found as general manufacturing costs.

In the case of response c), factory supplies are all those materials that are consumed within the factory but are not part of the raw materials. This includes oils, greases, lubricants, stationery, etc.

In the case of response d), indirect labor costs are those that make the operation of the company possible but cannot be assigned to a particular product. For example, the salary value of a manager who manages the operation of the entire company and not only in a product line.

8 0
3 years ago
According to current data, most caterers with an active business have _______ full-time employees. A. 10 or 12 B. only 4 or 5 C.
Nikolay [14]
D. 3 to 8 i own a business and everywhere the average is 3 to 8 employees
4 0
3 years ago
You want to have $5 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is
motikmotik

Answer: $18,128.27

Explanation:

Real interest rate = [( 1 + Nominal rate ) / ( 1 + inflation rate)] - 1

= [(1 + 13%) / ( 1 + 4.4%) ] - 1

= 8.2375478927203065134%

This is dealing with the future value of an annuity where $5,000,000 is that future value.

Future Value of an annuity = Amount * {[((1 + r )^n) - 1] / r}

5,000,000 = Amount * {[((1 + 8.2375478927203065134%% )^ 40) - 1] / 8.2375478927203065134%}

5,000,000 = Amount * 275.81229325572622843153903061969

Amount = 5,000,000/275.81229325572622843153903061969

= $18,128.27

7 0
3 years ago
On March 8, Monty Candy Company bought supplies on account from the Arcade Fire Company for $664. Monty Candy Company incorrectl
GalinKa [24]

Answer:

Correcting Entry

March 8         Dr.       Cr.

Supplies     $664

Equipment             $600

Account Payable   $64

Explanation:

Entry Should be

March 8         Dr.       Cr.

Supplies     $664

Account Payable  $664

Entry Recorded

March 8         Dr.       Cr.

Equipment  $600

Account Payable  $600

Firs error is amount recorded as $600 rather $664 and the second is account of equipment debited rather the account of Supplies Inventory.

3 0
3 years ago
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