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Naily [24]
3 years ago
9

Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process

costing. At the beginning of the month, the forming department has 34,500 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $79,100 consisted of $56,200 of direct materials costs and $22,900 of conversion costs. During the month, the forming department started 490,000 units. At the end of the month, the forming department had 30,000 units in ending inventory, 85% complete as to materials and 35% complete as to conversion. Units completed in the forming department are transferred to the painting department. Cost information for the forming department follows.Beginning work in process inventory $ 79,100
Direct materials added during the month 1,650,395
Conversion added during the month
Business
1 answer:
Roman55 [17]3 years ago
8 0

Answer:

See attached file

Explanation:

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Answer:

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Explanation:

6 0
3 years ago
Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2019, the fi
jeka94

Answer:

income statements for each year using variable costing

                                                                      2019                     2020

Sales                                                         $8,832,000        $11,040,000

Less Cost of Sales :

Opening Stock                                                $0                    $353,280

Add Manufacturing Cost                         $1,766,400             $1,413,120

Less Closing Stock                                  ($353,280)                  $0

Cost of Sales                                            ($1,413,120)         ($1,766,400)

Contribution                                              $7,418,880          $9,273,600

Less Expenses

Fixed manufacturing costs                      ($3,312,000)      ($3,312,000)

Selling Expenses :

Variable                                                     ($706,560)         ($883,200)

Fixed  Administrative Expenses              ($470,000)         ($470,000)

Net Income / (Loss)                                  $2,921,120          $4,608,400            

Explanation:

Reconciliation of Units

                                         2019                     2020

Opening Stock                     0                         920

Add Production               4,600                   3,680

Available for Sale            4,600                  4,600

Less Sales                      (3,680)                 (4,600)

Closing Stock                     920                       0

Product Cost

Consider only variable manufacturing costs

Product Cost = $2,400 × 16%

                      = $384

7 0
3 years ago
Which of the following is not an example of a digital transaction?
gladu [14]
Pretty sure it’s B since Marcos is using cash
6 0
3 years ago
Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on
kolbaska11 [484]

Answer:

The answer is

Dr: Notes Receivable $4,800

Dr: Interest Receivable $120

Cr: Sales $4,920

Explanation:

The yearly interest rate is 10%

So the interest rate for 90 days(assume 360 days make a year?

90/360 x 10%

2.5% is the interest rate for 90 days.

The interest payment for 90 days will be;

2.5% x $4,800

= $120

The entry will now be:

Dr: Notes Receivable $4,800

Dr: Interest Receivable $120

Cr: Sales $4,920

3 0
4 years ago
At wich step is a solution implemented in the decision-making process of solving a workplace problem ?
DerKrebs [107]

The decision making process of solving a workplace have seven steps: Identification of the problem, understanding interests, list of possible solutions, evaluating the options, selecting the options, documenting of the agreements and agreeing on contingencies, monitoring and evaluation. The solution is implemented on the last step which is agreeing on contingencies, monitoring and evaluation because in here there are opportunities that are created to evaluate the agreements and the implementation of the solutions.

7 0
3 years ago
Read 2 more answers
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