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vitfil [10]
3 years ago
15

Unique Company provided the following budgeted data for July:Direct materials $60,000Direct labor $35,000Overhead $100,000Beginn

ing finished goods $20,000Ending finished goods $36,000Production in units 15,000What is the budgeted cost of goods sold?a.$165,000b.$214,000c.$184,000d.$179,000e.$75,000
Business
1 answer:
Katarina [22]3 years ago
3 0

Answer:

 Cost of goods sold = $179,000

Explanation:

The cost of goods sold represent the amount of direct expenditure incurred on the units of goods sold for the period. It is computed as follows

Cost of goods sold = Opening inventory + cost of production - closing inventory

Note that closing inventory represents the value of the goods yet to be sold at the end o the period while opening inventory represent  the worth of goods brought forward from the previous period.

Cost of production is the addition of direct material, direct labour and production overhead.

The cost of goods sold for unique production is

Cost of goods sold = Opening inventory + production - closing inventory

cost of gods sold = 20,000 + (60,000 + 35,000 + 100,000) - 36,000

                             = $179,000

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Benoit company produces three products—a, b, and
Lana71 [14]
My answer is: Produce Product C first, then followed by Product A. to maximize contribution margin. Product B will not be produced since the maximum number of pounds has already been used in producing Products C and A.

<span> <span> </span><span><span> PER UNIT
</span> <span> PRODUCT                              A               B                C
</span> <span> SELLING PRICE                   80              62                81
</span> <span> VARIABLE EXPENSES
</span> <span> DIRECT MATERIALS            24             18                  9
</span> <span> OTHER VAR EXP.                 24             25.4             43.65
</span> <span> TOTAL VAR EXP                   48             43.4             52.65
</span> <span> CONTRIBUTION MARGIN    32             18.6             28.35
</span> <span> <span>CM RATIO </span>                            0.4             0.3                0.35
</span> <span> </span> <span>
COMPANY CAN SELL 800 UNITS OF EACH PRODUCT PER MONTH.
</span> <span> SAME RAW MATERIAL IS USED IN EACH PRODUCT.
</span> <span> MATERIAL COSTS 3 PER POUND W/ A MAX OF 5,000 POUNDS EACH MONTH
</span> <span> </span> <span>
PRODUCT      DM     <span>UNIT COST </span>        NO. OF LBS
</span> <span> A                      24            3                             8
</span> <span> B                      18            3                             6
</span> <span> C                        9            3                             3
</span> <span> </span> <span> PRODUCT NO. OF LBS/UNIT     MAX UNITS      TOTAL NO. OF LBS
</span> <span> A                       8                                800                    6400
</span> <span> B                       6                                800                    4800
</span> <span> C                       3                                800                    2400
</span> <span> TOTAL                                                                         13600
</span> <span> LIMITATION: 5,000 POUNDS PER MONTH ONLY.

</span></span></span><span> <span> </span><span><span> <span>required: </span>
</span> <span> <span>1. calculate the contribution margin per pound of the constraining resource for each product. </span>
</span> <span> 2. which orders would you advise the company to accept first, those for a, b, or c? which orders second? third?
</span> <span> </span> <span>
</span></span></span><span>PLS. SEE ATTACHMENTS FOR MY FULL COMPUTATIONS. </span>

5 0
3 years ago
. Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 4 bars and the price is $4. In year
NikAS [45]

Answer:

Nominal GDP in year 1 = $16

Nominal GDP in year 2 = $25

Nominal GDP in year 3  = $36

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Nominal GDP is GDP calculated using current year prices

Nominal GDP in year 1 = 4 x $4 = $16

Nominal GDP in year 2 = 5 x $5 = $25

Nominal GDP in year 3 = 6 x $6 = $36

5 0
3 years ago
Oliver's Company (OC) produces batches of chicken and beef organic dog food. Each time OC switches production from chicken to be
Vlad1618 [11]

Answer:

$3,600

Explanation:

Calculation to determine what amount of set-up costs should be allocated to the chicken dog food

Using this formula

Set-up costs = Cost per each set up * Totals ups

Let plug in the formula

Set-up costs=$20 * 180

Set-up costs=$3,600

Therefore the amount of set-up costs that should be allocated to the chicken dog food is $3,600

6 0
2 years ago
Help with This question
MissTica

Answer: Arial. 12 and black

Explanation: It is the most professional and clear to read. It is very important to use fonts, sizes, and colors people can clearly read.

5 0
2 years ago
Inc. (WFI). After liquidating its remaining inventory and paying off its remaining liabilities, WFI had the following tax accoun
Montano1993 [528]

Answer:

On the transfer of the building,

Appreciation of building = FMV - Adjusted Basis

                                        = $50,000 - $10,000

                                        = $40,000

WFI has taxable transaction and gain recognition of $40,000.

On the transfer of the land,

Appreciation of land = FMV - Adjusted Basis

                                  = $150,000 - $90,000

                                  = $60,000

WFI has taxable transaction and gain recognition of $60,000.

5 0
3 years ago
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