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
Dimas [21]
3 years ago
5

The following accounts are from last year's books at Sharp Manufacturing: Raw Materials Bal 0 (b) 87,000 (a) 93,000 5,000 Work I

n Process Bal 0 (f) 251,000 (b) 69,000 (c) 82,000 (e) 100,000 0 Finished Goods Bal 0 (g) 226,000 (f) 251,000 25,000 Manufacturing Overhead (b) 18,000 (e) 100,000 (c) 12,000 (d) 67,000 (h) 3,000 3,000 Cost of Goods Sold (g) 226,000 (h) 3,000 223,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
Business
1 answer:
pogonyaev3 years ago
6 0

Answer:

$251,000

Explanation:

Calculation to determine the amount of cost of goods manufactured for the year

Using this formula

Cost of goods manufactured=Debit to Finished Goods+Credit to Work in Process

Let plug in the formula

Cost of goods manufactured =$226,000+$25,000

Cost of goods manufactured =$251,000 (entry f)

Therefore the amount of cost of goods manufactured for the year is $251,000 (entry f)

You might be interested in
9. When paraphrasing, which of the following must a student do:
Scorpion4ik [409]

Answer:

5. They are all neccessary

6 0
2 years ago
Laura and Leon were granted a divorce in 2013. In accordance with the decree, Leon made the following payments to Laura in 2018:
antoniya [11.8K]

Answer:

$12,000 plus tax money

Explanation:

I don't know this but I am always trying to help. she will get $12,000 combined and also more money because of plus the money she will get with taxes.

6 0
3 years ago
g Swifty Corporation issued 3,100 5%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1
slamgirl [31]

Answer:

Dr Cash     $3,100,000

Cr Bonds payable            $3,100,000

Explanation:

Since the bonds were issued at face value of $1000 each,the cash proceeds received from the entire issue of 3,100 bonds can be computed thus:

Cash proceeds=$1000*3,100=$3,100,000

The cash proceeds imply that cash inflows have increased by $3,100,000, as a result cash account should be debited with $3,100,00o while the same amount is credited to bonds payable since an increase in  debt obligation should be a credit entry.

8 0
3 years ago
What are some Excel functions that a financial planner might use or need?
alexandr1967 [171]
1. Vlookup and Hlookup
2. Pivot table
3. some IF functions such as countif, countifs

7 0
2 years ago
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this y
kakasveta [241]

Answer:

Results are below.

Explanation:

<u>Absorption vs Variable costing method</u>

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

<u>1) First, we need to calculate the total unitary variable cost:</u>

Unitary production variable cost= 35 + 55 + 40= $130

Selling and administrative costs for the year Variable $ 725,000

Unitary total variable cost= 130 + (725,000 / 80,000)= $139.06

<u>Now, the variable income statement:</u>

Sales= 80,000*350= 28,000,000

Total variable cost= (80,000*139.06)=(11,124,800)

Total contribution margin= 16,875,200

Fixed overhead= (6,600,000)

Fixed Selling and administrative costs = (4,250,000)

Net operating income= 6,025,200

<u>2) First, we need to calculate the unitary production cost:</u>

Unitary production cost= 130 + (6,600,000/110,000)= $190

<u>Now, the absorption costing income statement:</u>

<u />

Sales= 28,000,000

COGS= 80,000*190= (15,200,000)

Gross profit= 12,800,000

Total Selling and administrative costs= (725,000 + 4,250,000)= (4,975,000)

Net operating income= 7,825,000

5 0
3 years ago
Other questions:
  • American energy review reported that 27% of american households burn wood. if a random sample of 500 american households is sele
    8·1 answer
  • Products whose demand rises when another product’s price increases are called
    14·2 answers
  • A company pays all selling expenses in the month incurred. Budget information includes: Administrative salaries: $50,000; Sales
    9·2 answers
  • Capital budgeting is concerned with the month to month investments of a firm true or false
    10·1 answer
  • This morning you purchased a stock that just paid an annual dividend of $3.10 per share. You require a return of 9.2 percent and
    6·1 answer
  • The process by which precipitation that has fallen on land trickles into the ground and becomes groundwater is known as what?
    7·1 answer
  • Debbi Fields' success as an entrepreneur can be attributed to her prior business training and
    5·1 answer
  • Your Godmother left you an inheritance of ​$100,000​, payable to you when you turn 26 years old. You are now 21.​ Currently, the
    14·1 answer
  • Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline purchased in the United States is 6 mi
    9·1 answer
  • With the balanced scorecard approach, the entire focus is on measuring and managing specific financial goals based on the organi
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!