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il63 [147K]
3 years ago
8

Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $46,000 $39,50

0 Work in process $25,500 $36,000 Finished goods $41,500 $56,500 Additional information: Raw materials purchases $75,500 Direct labor cost $100,500 Manufacturing overhead cost incurred $68,500 Indirect materials included in manufacturing overhead cost incurred $11,800 Manufacturing overhead cost applied to Work in Process $67,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is:
Business
1 answer:
Archy [21]3 years ago
6 0

Answer:

Cost of goods manufactured= $228,700

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 25,500 + (46,000 + 75,500 - 39,500) + 100,500 + (68,500 - 11,800) - 36,000

cost of goods manufactured= $228,700

We deduct the indirect material from overhead because it is already incorporated into direct materials.

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Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the fourth
vazorg [7]

Answer:

Assets increase by $10,000

Total stockholders' equity increases by $10,000

Explanation:

Since in the question, it is given that, the purchase value of equipment is $100,000 and the exchanged value is $110,000

So, the difference of $10,000 ($110,000 - $100,000) would reflect that the assets would increase by $10,000 and the total stockholders' equity is also increased by $10,000

The exchange value is a combination of $70,000 in trade allowance and $40,000 was paid in cash

3 0
3 years ago
When trying to assess your economic well-being you should:
Alex_Xolod [135]

Answer:

The correct answer is A

Explanation:

Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.

So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.

5 0
3 years ago
Marketing activities create millions of jobs.<br><br> True<br><br> False
rjkz [21]

Answer:

I believe that this answer is true

Explanation:

4 0
3 years ago
Read 2 more answers
A company has a beginning inventory of $ 20 comma 000 and purchases during the year of $ 130 comma 000. The beginning inventory
ollegr [7]

Answer:

$66,680

Explanation:

The computation of the cost pf goods sold is shown below:

= Number of units sold × average cost per unit

where,

Number of units sold equals to

= Beginning inventory units  + purchased units - ending inventory units units

= 3,000 units + 6,000 units - 5,000 units

= 4,000 units

Now the average cost per unit would be

= (Beginning inventory + purchases) ÷ (Beginning inventory units + purchased units)

= ($20,000 + $130,000) ÷ (3,000 units + 6,000 units)

= $16.67

Now put these values to the above formula  

So, the value would equal to

= $4,000 units × $16.67

= $66,680

7 0
3 years ago
Which of the following best defines " medium of exchange
tatuchka [14]
The answer would be:
A. something with a fixed value that we use for exchange

I hope this helps! :D
5 0
3 years ago
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