Answer: Cost of goods sold account
Explanation:
When a company is operating a Standard Cost system, all their inventory accounts will be recorded at their standard costs.
The Variances that exist between the Standard and Actual costs will be recorded in the variance accounts as well as the manufacturing overhead account.
At the end of the fiscal year, the balances on these accounts are sent to the Cost of Goods sold account to reflect true cost.
they generally manage hotels for a fee
3 + 5 + 7 = 15
Activity D can begin after 15 days
William pays $500 every 6 months as a premium on his car insurance with collision coverage. If William were to get in an accident and file a claim, he would pay $750 as a deductible and the insurance would cover the cost of repairs to the vehicles. When you file a claim against your insurance, your next set of premiums typically rise in the event it were to happen again, it brings in more money to the insurance agency. Since William’s car is $700 to fix and the other drivers car is $1,100 to fix if William does not file a claim with his insurance, he will pay an out-of-pocket amount of $1,100 to have the other car repaired.
Answer:Manufacturing costs assigned to completed units = $1143192
Explanation:
Material Costs = $600 000 (added at the beginning)
Conversion costs = $642600 incurred uniformly through out the process
Units Started = 100 000
Units on hand = 8000 units 40% complete
Units completed = 100 000 - 8000 = 92000 units
Percentage of units completed = 92000/100 000 = 92%
Material costs = $600 000 x 92% = $552000
Conversion Costs = $642 600 x 92% =$591192
Manufacturing costs assigned to completed = $552000 + $591192
Manufacturing costs assigned to completed units = $1143192