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3 years ago

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Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 33,000 shares authorized, 16,8

00 shares issued, and 13,200 shares of common stock outstanding. The journal entry to record the dividend declaration is:

1 answer:

Setler [38]3 years ago

4 0

Debit Retained earnings $6,600, Credit Common dividends payable $6,600

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During the month of January, Marcos & Henesey, Inc. had total manufacturing costs of $165,000. It incurred $62,000 of direct

adell [148]

Answer:

$68,800

Explanation:

Let the direct material used be X,

Direct Material + Direct Labor + Over Head = Total product cost

X + $62,000 + $40,000 = $165,000

X + $102,000 = $165,000

X = $165,000 - $102,000

X = $63,000 Materials Used

Raw Materials used = Beginning Inventory + Purchased - Ending Inventory

Raw Materials used = Beginning Inventory + Purchased - [Beginning Inventory + $5,800]

$63,000 = Beginning Inventory + Purchased - Beginning Inventory - $5,800

$63,000 = Purchased - $5,800

Purchased = $63,000 + $5,800

Purchases = $68,800

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