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andreev551 [17]
3 years ago
8

Larsen Company adds materials at the beginning of the process in Department 2. Data concerning the materials used in May product

ion are as follows: Units Work-in-process at May 1 12,000 Started during May 32,000 Completed and transferred out during May 33,000 Normal spoilage incurred 3,000 Work-in-process at May 31 8,000 Using the weighted-average method, the equivalent units for materials are:
Business
1 answer:
brilliants [131]3 years ago
3 0

Answer:

$44,000

Explanation:

Calculation for the equivalent units for materials

Using this formula

Equivalent unit of material = Completed and transferred out+Normal spoilage+Ending work in process

Let plug in the formula

Equivalent unit of material = $33,000+$3,000+$8,000

Equivalent unit of material = $44,000

Therefore Using the weighted-average method, the equivalent units for materials are $44,000

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Cullumber Inc. had sales of $2,300,000 for the first quarter of 2020. In making the sales, the company incurred the following co
yarga [219]

Answer:

<u>Net Income  $ 494,000</u>

Explanation:

Cullumber Inc.

CVP income statement

For the Quarter Ended March 31, 2020.

Sales of $2,300,000

Variable

Cost of goods sold $941,000

Selling expenses 104,000

Administrative expenses 108,000

Total Variable Expenses      $1153,000

Contribution Margin             $ 1147,000    

Fixed

Cost of goods sold $474,000

Selling expenses 77,000

Administrative expenses 102,000

Total Fixed Costs       $ 653,000        

Net Income  $ 494,000

7 0
3 years ago
Brahma Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.
Temka [501]

Answer:

Date         Account titles & Explanation          Debit     Credit

Sep 04     Purchases (70 backpacks*$50)    $3,500

                        Accounts payable                                    $3,500

Sep 06     Accounts payable                           $300

                         Purchase return and allowances            $300

Sept 09   Accounts receivable                        $1,260

               (15 backpacks*$84)

                          Sales                                                         $1,260

Sept 13    Accounts payable                              $3,200

               (64 backpacks*$50)

                       Purchase discount (3,200*2%)                  $64

                        Cash (3,200*98%)                                      $3,136

4 0
3 years ago
The store where you bought new home furnishings offers you two alternative payment plans. The first plan requires a $4,000 immed
blondinia [14]

Answer:

The nominal annual interest rate is built into the monthly payment plan is 14.4%

Explanation:

E = P×r×(1 + r)n/((1 + r)n - 1)

where:

E is the EMI

p is the Principal

r is the nominal rate

n is the number of periods

$137.41 = $4,000*r* (1 + r)36/((1 + r)^36 -1)

           r = 14.4% P.A

Therefore, The nominal annual interest rate is built into the monthly payment plan is 14.4%

8 0
3 years ago
Which of the following is the last section on most job applications?
blondinia [14]

Signature this is to clarify and confirm who the person is thats writing the application

6 0
3 years ago
Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Material
snow_lady [41]

Answer:

cost of goods manufactured= $730,920

Explanation:

Giving the following information:

Materials $167,500 $149,080

Work in process 112,230 99,880

Direct labor $301,500

Materials purchased during March 321,600

Factory overhead incurred during March:

Indirect labor 32,160

Machinery depreciation 19,430

Heat, light, and power 6,700

Supplies 5,360

Property taxes 4,690

Miscellaneous costs 8,710

Total overhead= $77,050

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

<u></u>

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

cost of goods manufactured= 112,230 + (167,500 + 321,600 - 149,080) + 301,500 + 77,050 - 99,880

cost of goods manufactured= $730,920

4 0
3 years ago
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