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Dmitry [639]
2 years ago
13

The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the fi

rst month of operation. Production: 6,240 units finished and transferred out; 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $36,960; labor $21,400; overhead $30,242. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)
Business
1 answer:
Mekhanik [1.2K]2 years ago
8 0

Answer:

Cost of goods transferred out  $71,061.012

Value of closing inventory = $17,540.98

Explanation:

Cost  per equivalent unit = Cost /total equivalent unit

<em>Material </em>

Equivalent unit = (100%×6,240) +( 100%× 3,000) = 9240

Cost per equivalent unit = $36,960/9,240 units= 4

<em>Labour</em>

Equivalent unit = (100%×6,240) + ( 25%× 3,000)= 6990  units

Cost per equivalent unit = ( 21,400 + 30,242)/6990  = 7.387982833

Cost of goods transferred out=  (6,240× 4) + (7.38×6,240)=71,061.012

Value of closing inventory = (3,000× 4) + (7.38× 25%*3000)= 17,540.98

Cost of goods transferred out  $71,061.012

Value of closing inventory = $17,540.98

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Answer and Explanation:

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Less: Variable cost

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Total variable cost                                         -$1,100,000

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Net operating income                                                 $355,000

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We simply deduct the variable cost and fixed cost from the sales revenue so that the net operating income could come and then deducted the income tax expense so that net income could arrive

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According to the scale, an average person would posses the mean of 100 IQ <span>and standard deviation of  15. If to be a member of mensa one should have </span><span>an iq at least 2.5 standard deviations above average, the minimum iq should be: 
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3 years ago
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Answer:

2. gross investment equals depreciation.

Explanation:

Following Examples is supporting the answer:

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Answer:

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