Answer:
Raw ending 643,300
ending WIP 199,240
ending FG 37,000
Explanation:
<em>Raw materials </em>
beginning 29300
purchased 1041000
used in production <u> (427000)</u>
ending 643300
<em>cost added (in between step to get ending WIP)</em>
materials 427000
direct labor 312240 (24,000 DLH x $13.01)
overhead 164000
total 903240
<em>Ending WIP</em>
beginning WIP 151000
added 903240
COGM <u> (855000)</u>
ending WIP 199240
<em>Finished goods</em>
beginning FG 257000
COGM 855000
COGS <u> (1075000)</u>
ending FG 37000
Answer:
cost of goods manufactured= $665,000
Explanation:
Giving the following information:
Molina Company has a beginning and ending work in process inventories of $130,000 and $145,000 respectively. If total manufacturing costs are $680,000
We need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 130,000 + 680,000 - 145,000
cost of goods manufactured= 665,000
The answer is option "d", "<span>it would have an increase in accounts receivable and a corresponding decrease in cash".
</span><span>Accounts receivable alludes to the extraordinary invoices that an organization has or the cash the organization or company is owed from its customers. The expression alludes to accounts a business has a privilege to get or receive, the reason behind this is that it has conveyed an item, product or service.
</span>
Answer:
Date Account Titles and Explanation Debit Credit
Bonds payable $1,000,000
Loss on retirement of bond $13,000
[$1,050,000 - $1,037,000]
Premium on bond $37,000
Cash (1,000,000*105%) $1,050,000
(Record the retirement of the bonds, using a premium account)
A company tries to serve the segments whose needs match their <span>abilities to deliver/delight.
When a company decided to provide its service only to a specific market, the company will get a stronger footing and marker positioning in that market, which will help the company in obtaining a lot of loyal customer for its products.</span>