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3 years ago

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Chhom Corporation makes a product whose direct labor standards are 0.9 hours per unit and $30 per hour. In November the company

produced 7,450 units using 6,205 direct labor-hours. The actual direct labor cost was $130,305. The labor efficiency variance for November is:

1 answer:

ZanzabumX [31]3 years ago

4 0

Idk this one I’m look up

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Statement of Cost of Goods Manufactured for a Manufacturing Company

tankabanditka [31]

Answer:

Johnstone Manufacturing Company

Statement of Cost of Goods Manufactured

Raw Materials $298,040

Direct labor $319,050

Factory overhead incurred :

Indirect labor $34,030

Machinery depreciation $20,560

Heat, light, and power $7,090

Supplies $5,670

Property taxes $4,960

Miscellaneous costs $9,220

Add Opening Work in process Inventory $116,990

Less Closing Work in process Inventory (105,290)

Cost of Goods Manufactured $710,320

Explanation:

Cost of Goods Manufactured Statement, is a summary of costs incurred to manufacture products.

<em>Calculation of Raw Materials used in Production.</em>

Raw Materials T - Account

Debit :

Opening Balance $177,250

Purchases $340,320

Totals $457,570

Credit :

Closing Balance $159,530

Work In Process (Balancing figure) $298,040

Totals $457,570

6 0

4 years ago

In 2001 chipotle, a fresh mexican grill, committed to increase its use of naturally raised meat, organic produce, and dairy with

Ahat [919]

<span>Their marketing approach is listening to customer feedback. Basing some marketing and some ways they produce their food on customer feedback can be both beneficial and work out well as long as it's cost effective and doesn't hinder sales much.</span>

6 0

3 years ago

Wu Production Company, which uses activity-based budgeting, is in the process of preparing a manufacturing overhead budget. Whic

creativ13 [48]

Answer:

Option which would likely appear on that budget will be:

Batch level costs: production setup.

Explanation:

Here the company uses activity based budgeting is a management accounting tool which new year budget is only seen by not considering the previous year records.

Activity based budgeting which is a budgeting method in which firstly the overhead costs are being calculated and the the budgets gets created.

Batch-level cost is a cost which is not associated with any given specific individual units but is associated with a group of units.

For example, to set up a production run the cost incurred is associated with the batch of goods that are produced subsequently.

Another example can be be procurement costs. The expenses associated with the procurement costs include the ordering of direct materials, paying suppliers and receiving goods.

Since all of the expenses are related to the orders placed numbers, they must be allocated not to an individual product but to group of unit.

6 0

3 years ago

A government receives a gift of cash and investments with a fair value of $200,000. The donor specified that the earnings from t

masha68 [24]

<h3>Hello there!</h3>

Your question asks what type of fund should the gift be accounted for.

<h3>Answer: D). Permanent fund</h3>

The reason why answer choice " ). Permanent fund" is the correct answer because the gift "restricts" the government in it's usage, due to the fact that the $200,000 gift and investment must be used to "beautify the city-owned parks."

The $200,000 gift and investments has a specific intention when being used.

The government would therefore keep some of the money from the gift and investments as a "principal" to make more money from it, while using the rest of the money for it's obligated "use" or "benefit".

This would also be known as a Permanent fund because the fund is being used for something that is owned by the government. In this context, the thing that is owned by the government would be the park, due to the fact that the park is "city-owned." The gift is obligated to be used for the "city-owned" park.

<h3>I hope this helps!</h3><h3>Best regards, MasterInvestor</h3>

3 0

4 years ago

On January 1, 2019, Wildhorse Co. issued $379,500, 7%, 5-year bonds at face value. Interest is payable annually on January 1. (a

nikklg [1K]

Answer:

See the explanation for the answer.

Explanation:

(a)

Bonds are issued at face value

date Account debit credit

Jan 1 ,2019 cash $379,500

bonds payable $379,500

[to record cash received

against bonds issued]

b.

Interest accrued from Jan-Dec = $379,500*7% = $26,565

Account

Dec 31 ,2019 Interest expense $26,565

Interest payable on bonds $26,565

As interest is accrued it will be expensed

.

However, it is not paid so it will be interest payable

c) Interest paid

Debit Credit

Jan 1 ,2020 Interest payable on bonds $26,565

Cash $26,565

8 0

3 years ago