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dybincka [34]
3 years ago
5

Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 25,

800 $ 21,800 Work in process $ 17,800 $ 10,800 Finished Goods $ 48,800 $ 56,800 Additional information: Raw materials purchases $ 72,800 Direct labor cost $ 92,800 Manufacturing overhead cost incurred $ 42,880 Indirect materials included in manufacturing overhead cost incurred $ 4,080 Manufacturing overhead cost applied to Work in Process $ 41,800 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.
Business
1 answer:
Law Incorporation [45]3 years ago
5 0

Answer:

cost of goods manufactured= $218,400

COGS= $210,400

Explanation:

<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= 17,800 + (25,800 + 72,800 - 21,800) + 92,800 + 41,800 - 10,800

cost of goods manufactured= $218,400

<u>Now, we can determine the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 48,800 + 218,400 - 56,800

COGS= $210,400

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If a certain household earns and spends $24,000 per year and, on average, holds a money balance of $6,000, then the velocity of money for this household is 4.

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4 0
1 year ago
On June 1, 2015, Ivanhoe Company and Shamrock Company merged to form Bridgeport Inc. A total of 752,000 shares were issued to co
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Solution:

a-1) Calculation of the number of shares used for calculating Basic Earning per share    

No. of shares                         period        

752000                                    3/12                           188000    

1314000                                    9/12                           985500    

Weighted average No of shares outstanding   1173500

a-2) Calculation of the number of shares used for calculating Diluted Earning per share    

                        No. of shares                 period        

                          752000                   3/12                 188000                                     1314000                    3/12                  328500      with Bonds       1340400                    6/12                670200      

Weighted average No of shares outstanding           1186700   

Each bonds to per converted into 44 common stock

i.e. 600 Bonds *44 common=26400 Potential equity shares

b-1) Calculation of earning figures to be used for calculating Basic Earning per share    

After Tax net Income will be earnings = $1614000      

b-2) Calculation of earning figures to be used for calculating Diluted Earning per share    

After tax net Income                                                   1614000      

Interest for the 2017 =600000*7*6/12   21000      

Tax effect on Interest @40%                     8400      12600                                                                                                 1626600

Earnings = 1626600      

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Answer:

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Statement C) refers to quantity demanded because it is not always relevant, when talking about demand, whether the good demanded is a necessity or a luxury.

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