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tensa zangetsu [6.8K]
3 years ago
10

The following data pertains to Lam Co.'s manufacturing operations: Inventories 4/1 4/30 Direct Materials $ 18,000 $ 15,000 Work

in Process 9,000 6,000 Finished Goods 27,000 36,000 Additional information for the month of April: Direct materials purchased $ 32,000 Direct labor 30,000 Direct labor rate per hour 10.00 Factor overhead incurred 40,000 Overhead is applied at $12 per direct labor hour. For the month of April, conversion cost incurred was:
Business
1 answer:
Sliva [168]3 years ago
5 0

Answer: $65000

Explanation:

For the month of April, the conversion cost that was incurred would be calculated as:

Beginning inventory of Direct Materials = $18000

Add: Purchase = $32000

Total cost of Direct Materials available = $50000

Less: Ending inventory of Direct Material = $15000

Therefore, Direct material used:

= $50000 - $15000 = $35000

Add: Direct labor = $30000

Conversion cost incurred = $35000 + $30000 = $65000

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finlep [7]

Answer: See explanation

Explanation:

a. Sales = $27000

Less: sales returned = -$660

Less: discount at 2% = ($27000 - $660) × 2% = -$526.8

Net sales = $25813.2

b. Net sales = $25813.2

Less: cost of goods sold = $15000 - $400 = -$14600

Gross profit = $11213.2

Operating expense:

Less: Selling and administrative expenses = -$2835

Operating income = $8378.2

Non-operating items:

Less: Interest expense = ($200

Add: Gain on land Sales = $900

Net Income= $9078.2

c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.

d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.

Option B is the correct answer.

4 0
3 years ago
A june sales forecast projects that 6,000 units are going to be sold at a price of $10.50 per unit. the desired ending inventory
ohaa [14]
Purchases = Sales units + Closing inventory - Beginning Inventory
                  = 6,000 + (1,000 * 115%) - 1,000
                  = 6,150 units
7 0
3 years ago
As a professor, I want to show the movie Wall Street for a discussion on ethics. Am I allowed to show the entire movie without t
spayn [35]

Answer:

Yes you are allowed to do so but you must not change anything in the movie

3 0
3 years ago
Read 2 more answers
Newton, Inc. just paid an annual dividend of $0.95. Their dividends are expected to increase by 4% annually. Newton Company stoc
Eduardwww [97]

Answer:

The required rate of return is 12.2%

Explanation:

Dividend growth model is used to calculate the price of the stock based on the dividend, its growth and required rate of return.

Formula to calculate the price

Price = Dividend / ( Required rate of return - Growth rate )

P = D / ( r - g)

P = $11.54

D = $0.95

g = 4%

Now placing the given values in the formula

$11.54 = $0.95 / ( r - 4% )

r - 4% = $0.95 / $11.54

r - 4% = 8.2%

r = 8.2% + 4%

r = 12.2%

8 0
3 years ago
The people and groups that supply a company with its productive resources, and thus have a claim on and a stake in the company,
Leviafan [203]

Answer: Stakeholder

Explanation:

 The stakeholder is the person in an organization that manage all the external and the internal function or the stake of the business.

The main objective of the stakeholder is to managing all the resources, stake, knowledge and the materiel of the company and it also provide some interest to an organization.

According to the question, the stakeholder is basically supply the various types of productive resources ti the firms and then claim on the stake in an organization and this is known as stakeholder.

Therefore, Stakeholder is the correct answer.  

8 0
3 years ago
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