1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
monitta
3 years ago
12

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $199,200 of raw materials on credit

; issued materials to production of $196,000 of which $30,300 were indirect. Minstrel incurred a factory payroll of $150,600, of which $40,300 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $15,600 and $27,200 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.
Business
1 answer:
Aleksandr [31]3 years ago
7 0

Answer:

$429,850

Explanation:

The computation of the cost of jobs transferred to Finished Goods Inventory is shown below:

= Beginning Work in Process Inventory + direct material + direct factory payroll + overhead cost - Ending Work in Process Inventory

Here,  

Direct material = Total material - indirect material  

                         = $196,000 - $30,300

                       = $165,700

Direct factory payroll = Total factory payroll - indirect labor

= $150,600 - $40,300

= $110,300

And, Overhead cost = 150% of direct labor cost

= 150% × $110,300

= $165,450

Now the cost of job transferred would be

= $15,600 + $165,700 + $110,300 + $165,450 - $27,200

= $429,850

You might be interested in
The income received by a country's people from all sources in a given time period
AfilCa [17]

The correct answer is personal income.

A country’s personal income is the amount of income received by all of the country’s people in a given time period.

7 0
3 years ago
Household consumers are the most conspicuous audience in that most mass media advertising is directed at them. T/F
elena-14-01-66 [18.8K]

Answer:

The correct answer is True.

Explanation:

Local advertising is of capital importance, especially for those who want to spread their business in specific cities or geographic regions.  

With word of mouth advertising, you can surely get your business to reach different cities; but not at the speed that is required to recover the investment invested.

Businesses that have a local advertising plan will be able to bring their products and / or services to potential customers located in the target geographic area and increase their recognition as a local brand.

We are sure you have heard the following quotes; <em>"The best publicity is what satisfied customers do"</em> by Philip Kotler, and "What helps people helps business" by Leo Burnett

So why is local advertising important? Business owners have asked themselves this question for years, and the answer is really quite simple ...  To get attention, direct traffic to your business and close sales.

6 0
3 years ago
When units are moved from one processing department to the​ next, the cost associated with those units must also be moved from o
KonstantinChe [14]

These costs​ called as Transferred costs.

<h3><u>Explanation:</u></h3>

The costs that are accumulated during the time of  upstream production process in a firm refers to Transferred costs. These are associated with the goods that are transferred to the next department of a business from one department. With this product there will be a continuation of the production process.

These are semi finished goods that are transferred for the purpose of continuing the production process. When these units are moved form the  processing  department to the next department, these transferred cost will be transferred from one work in process account to the next account.

7 0
3 years ago
On April 23, Mrs. Y purchased a taxi business from Mr. M for a $60,000 lump-sum price. The business consisted of a two-year-old
vladimir2022 [97]

Answer:

Follows are the solution to the given points:

Explanation:

In point a:

It must allocate \$19000 for both the taxicab and \$41,000 for the rest of the license, the client list, and the company name registered.

Its cost of intangible material could be amortized for 180 months starting in April. (\frac{41,000}{180}) \times 9\ \ months = \$2,050 is her amortization deduction.

She could also use Section 179 to decrease her taxable money to \$17,890 (\$36,890 - \$19,000) but include her deduction.

Her taxable annual income is \$15,840 (\$17,890 - \$2,050).

In point b:

They must allocate \$19,000 for the taxi and\$41,000 for their licenses, the customer list as well as the business by interacting with people register. Its cost of the material could be depreciated for 180 months, starting in April.

(\frac{41,000}{180}) \times 9\ \ months = \$2,050  is her amortization deduction.

The taxable income here = \$0 (from \  \$17,100 -\$19,000) = -1,900.

Section 179 could be requested if another income is earned on the tax return (such as W-2 wages).

As all Section 179 is unpaid with other earned income, it is carried forward into the next year.

3 0
3 years ago
How to find national survey of 2000 adult citizens of a nation found that 23​% dreaded​ valentine's day. the margin of error for
trasher [3.6K]
This means that the figure might be 6.2% percent of off and there is a 90% chance of the figure being correct to 6.2%
7 0
3 years ago
Other questions:
  • OMG Inc. has 4 million shares of common stock outstanding, 3 million shares of preferred stock outstanding, and 50 thousand bond
    10·1 answer
  • Serenity, a minor, obtains fruits and vegetables on credit from Virgil at Growers' Market. Later, Serenity disaffirms the purcha
    15·1 answer
  • Interview Notes Olivia is single, 66 years old, and not blind. She paid all the cost of keeping up her home. She earned $55,000
    7·1 answer
  • If a competitive firm cannot earn a profit at any level of output during a given shortminusrun ​period, then which of the follow
    7·1 answer
  • During 2016 Green Thumb Company introduced a new line of garden shears that carry a two-year warranty against defects. Experienc
    11·1 answer
  • The sticker price on a new car includes:
    6·1 answer
  • Why is research and development an integral part of the designing and producing process of an aerospace product? Select the best
    5·2 answers
  • Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract su
    12·1 answer
  • As new firms enter a competitive price-searcher market, profits of existing firms Group of answer choices rise and product diver
    7·1 answer
  • Ataxia Fitness Center is considering an investment in some additional weight training equipment. The equipment has an estimated
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!