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
fenix001 [56]
2 years ago
14

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,200. During the month, it

was assigned the following costs: direct materials, $77,200; direct labor, $25,200; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $115,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:
Business
1 answer:
SVETLANKA909090 [29]2 years ago
6 0

Answer:

The ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

Explanation:

To determine Ending Balance of Work in Process Inventory, <em>Prepare a Manufacturing Cost Statement</em>.

Opening Work in Process Inventory             $11,200

<em>Add </em>Cost Added During the Period :

Direct materials                                             $77,200

Direct labor                                                   $25,200  

Factory overhead ( $25,200 × 50%)            $12,600

Total Manufacturing Costs                          $126,200

<em>Less </em>Transfer to Next Department            ($115,000)

Closing Work in Process Inventory               $11,200

Conclusion :

Therefore, the ending balance of the Work in Process Inventory account for the Fabricating Department is: $11,200

You might be interested in
Create a conversational but professional tone in letters, e-mail messages, instant messages, and memos by Group of answer choice
egoroff_w [7]

Answer:

Using familiar words, occasional contractions, and pronouns such as you and I.

Explanation:

This is the best strategy in order to create a conversational but professional tone in letters, e-mail messages, instant messages and memos. This strategy suggests the use of familiar words. This will give a personal, relaxed tone to your texts. Moreover, it suggests the use of occasional contractions. Contractions are useful when it comes to making a text less formal and more intimate. Finally, using pronouns such as "you" and "I" gives a tone of closeness, while remaining professional.

4 0
3 years ago
What are two recent CSR/CSI initiatives of Woolworths​
Anvisha [2.4K]

Answer: Donating food to needy communities, and clothes

Explanation: The fabric of society

7 0
2 years ago
Each statement below is part of an economic model. Indicate whether the statement is a prediction of cause and effect or an assu
aivan3 [116]

Answer:

(a) Assumption

(b) Cause and Effect

(c) Cause and effect

(d) Assumption

Explanation:

(a)  People behave rationally: Assumption

Rational behavior refers to a decision-making process that is based on making assumptions that result in an optimal level of benefit or utility.

(b) Cause and Effect

If a price of goods falls that is a cause and the effect is that  people will consume more of the good.

(c) Cause and effect

As the population grows faster than food supply (cause), mass starvation is predicted to occur which is the resultant effect.

(d) Assumption

The maximization of profit is based on the assumption of theory of production and costs.

4 0
2 years ago
Read 2 more answers
A bank can offer which of the following
konstantin123 [22]

Answer:

Checking Account, Savings Account, Safety Deposit Box

Explanation:

Banks are financial institutions that provide a wide variety of financial services to their customers. They accept customer deposits and issue loans. Commercial banks act as intermediaries between the supply side and demand side of credit.

Commercial banks are also known as deposit-taking institutions. Deposits facilities offered by banks include

  • Checking accounts,
  • Savings accounts,
  • Safety Deposit Box
  • Money Markets accounts
  • Certificated of Deposits accounts

8 0
3 years ago
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would
kotegsom [21]

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would: a. debit Inventory and credit Cost of Goods Sold.

<h3>What is Inventory ?</h3>

Inventory, also known as stock, refers to the goods and materials that a company keeps for the purpose of resale, production, or use. Inventory management is primarily concerned with specifying the shape and placement of stocked goods.

There are four types of inventory: raw materials/components, work in progress (WIP), finished goods, and maintenance and repair (MRO).

Inventory valuation methods include FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost).

Inventory refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for a profit. For instance, if a newspaper vendor uses a vehicle to deliver newspapers to customers, only the newspaper is considered inventory. The vehicle will be considered an asset.

To know more about Inventory  follow the link:

brainly.com/question/24868116

#SPJ4

5 0
2 years ago
Other questions:
  • On January 8, Lee Co. borrows $100,000 cash from National Bank by signing a 90-day, 6% interest-bearing note. On April 8, Lee Co
    10·1 answer
  • When a supplies internal service fund records a billing to the general fund, the journal entry in the internal service fund will
    7·1 answer
  • Assume that a company announces unexpectedly high earnings in a particular quarter. In an efficient market one might expect ____
    14·1 answer
  • The likelihood of a risk event occurring during the implementation of a project goes up as the project progresses. The cost impa
    13·1 answer
  • Laura received a grant that will pay for 30% of her annual estimated tuition and a scholarship that will pay for her books. What
    8·2 answers
  • Shen and Valerie are building their portfolios. Shen purchases shares in a mutual fund and pays fees to a manager who actively m
    12·1 answer
  • Why do companies frequently expand their business operations into other countries?
    10·1 answer
  • True or False : When you are thinking of something you want to predict, measure, or change in your business, you are probably th
    8·1 answer
  • Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, rea
    6·1 answer
  • Question 15 of 20
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!