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azamat
3 years ago
15

ost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of

fabricating equipment: Sales $1,326,700 Gross profit 358,200 Indirect labor 119,400 Indirect materials 49,100 Other factory overhead 22,600 Materials purchased 676,600 Total manufacturing costs for the period 1,464,700 Materials inventory, end of period 49,100 Using the above information, determine the following missing amounts: a. Cost of goods sold $fill in the blank 1 b. Direct materials cost $fill in the blank 2 c. Direct labor cost $fill in the blank 3
Business
1 answer:
vredina [299]3 years ago
8 0

Answer and Explanation:

The computation is shown below

a . The cost of goods sold is

= Sales - cost of goods sold

= $1,326,700 - $358,200

= $968,500

b. The direct material cost is

= Material purchased - ending inventory - indirect materials

= $676,600 - $49,100 - $49,100

= $578,400

c, The direct labor cost is

= Total manufacturing overhead cost - other factory overhead - direct material cost - indirect material - indirect labor

= $1,464,700 - $22,600 - $578,400 - $49,100 - $119,400

= $695,200

You might be interested in
describe the two eligibility requirements to qualify for deducting losses generated from real estate activities.
Zolol [24]

Two exceptions to the special passive activity rule for real estate activities provide the whole or partial offset of real estate rental losses against active or portfolio income, even when the business is otherwise regarded as a passive activity.

<h3>Which rules regarding passive activities for rental revenue are exceptions?</h3>
  • You have a stake in the yearly commerce or economic activities.
  • During the current tax year or at least 2 of the 5 tax years prior, the rental property was utilized primarily in that trade or company.
<h3>Only real estate is subject to passive loss restrictions, right?</h3>

Generally speaking, the following actions can result in passive losses (and income): leasing of equipment. Rental property (though there are some exceptions) a farm or a sole proprietorship in which the taxpayer has no substantial interest.

<h3>How can passive income be balanced?</h3>

Selling off your rental properties will help you make up for your passive losses. You don't actually have to sell the property that's causing the losses to balance them effectively. Any passive income will be offset by losses.

Learn more about special passive activity rule: brainly.com/question/28137310

#SPJ4

7 0
11 months ago
Seller Jones signed an exclusive right to sell listing on her home with Muller Realty for $155,000 at a commission rate of 5% to
kramer

Answer:

$3,875

Explanation:

Data given in the question

Selling value of the home = $155,000

Commission rate = 5%

Share basis = equally

So, by considering the above information, the Muller received amount is

= Selling value of the home × commission rate ÷ share basis

= $155,000 × 5% ÷ 2

= $7,750 ÷ 2

= $3,875

By considering the all the information given in the question we can easily find out the received amount by the Muller

8 0
3 years ago
What is the main advantage for businesses that participate in the globalized market?
Likurg_2 [28]

Answer:

A is your answer

Explanation:

can i get brainiest

8 0
3 years ago
Read 2 more answers
Is the cost of equity calculated from the CAPM model, pre -tax or post-tax?
Natasha_Volkova [10]
The existence of pre-tax cost of debt and post-tax cost of debt is due to the acknoledgement of the tax benefit from issuing debt.There is no tax benefit from paying divdends,so it makes no sense talking about pre-tax,post-tax cost of equity for a firm.When you think about cash flow to equity you can only assume that the taxes owed by the company have already been paid.Now, the taxation over the income of the shareholder is a whole different issue that does not take place in this discussion,since it is not taken in consideration either in cost of equity or cost of debt.
3 0
3 years ago
asmine Smith owns a condo worth $250,000, a car valued at $15,000, and miscellaneous assets worth $7,500. She owes $190,000 on t
tester [92]

Answer:

The total liabilities amounts to $200,000

Explanation:

The total liabilities of Asmine Smith is computed as:

Total Liabilities = Owing on Condo + Owning a Car

where

Owning on Condo is $190,000

Owning a Car is $10,000

Putting the values above:

= $190,000 + $10,000

= $200,000

Note: Sum Insured under the Insurance Policy, is neither a liability nor assets. And Premium paid is an expense, will be treated as Current Assets.

4 0
3 years ago
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