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xz_007 [3.2K]
3 years ago
5

Davy Company had a beginning work in process inventory balance of $32,000. During the year, $54,500 of direct materials was plac

ed into production. Direct labor was $63,400, and indirect labor was $19,500. Manufacturing overhead is applied at 125% of direct labor costs. Actual manufacturing overhead was $86,500, and jobs costing $225,000 were completed during the year.
What is the ending work in process inventory balance?

a. $172,000
b. $ 11,400
c. $ 4,150
d. $ 79,250
Business
1 answer:
daser333 [38]3 years ago
8 0

Answer:

Option (b) is correct.

Explanation:

Given that,

Beginning work in process inventory balance  = $32,000

Direct materials was placed into production = $54,500

Direct labor = $63,400

Actual manufacturing overhead = $86,500

Jobs costing completed during the year = $225,000

Ending work in process inventory balance:

= Beginning work in process inventory balance + Direct materials was placed into production + Direct labor + Actual manufacturing overhead - Jobs costing completed during the year

= $32,000 + $54,500 + $63,400 + $86,500 - $225,000

= $11,400

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The market for chewing gum is in equilibrium with a current price of 50 cents per pack and a quantity of 100,000 packs per day.
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Answer:

A) an increase in the price of other kinds of candy

Explanation:

If the price of substitute products (other types of candy) increases, then the suppliers of chewing gum can increase their price without the quantity demanded decreasing. If the decrease in the price of chewing gum is smaller than the increase in the price of substitute products, the quantity demanded will increase.

If there was a price increase of the main ingredients used to produce chewing gum, then the supply curve would shift to the left (option B is wrong).

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5 0
3 years ago
Robert Necco and Nelson Packard are economists at Economic Research Associates. ERA asks Necco and Packard for their opinions ab
Lorico [155]

Answer: B) Correct Incorrect

Explanation:

Whilst it was generally believed at some point that raising taxes and Government Spending by the same amount would have no effect, research has disproven this thought.

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This is because when the Government spends money, the Multiplier effect of Government Spending is always 1 more than that of the Taxes therefore raising taxes and spending by the same amounts still increases the Real GDP because Government Spending will create more income than taxes will take.

Necco is right, Packard is wrong.

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3 years ago
Sally Beauty Warehouse uses the perpetual inventory system to account for its merchandise. On Nov 2, it sold $700 of merchandise
Nutka1998 [239]

Answer:

1) Debit sales discounts $14

2) Debit cash $686

3) Credit accounts receivables $700

Explanation:

nov-02 sold 700

terms 2/15 n 30  

                700

Discount            2%

                   14

Net payment  686

Db Cash_____________686

Db Sales discount_______14

Cr Account receivable_______700

7 0
3 years ago
Read 2 more answers
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MaRussiya [10]

This is called a Positioning Statement

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2 years ago
Dilithium Batteries is a division of Enterprise Corporation. The division manufactures and sells a long-life battery used in a w
katrin2010 [14]

Answer:

<em>Net Profit Under Absorption Costing for 60,000 units = $ 430,000                   for 90,000 units = $ 940,000</em>

<em>Net Profit  Under Variable Costing for 60,000 units = $ 250,000   for 90,000 units = $ 940,000</em>

Explanation:

Enterprise Corporation

Dilithium Batteries

Absorption Costing Income Statement,

                                                                               

                                                           60,000                 90,000

Sales                                               2100,000               3150,000

Manufacturing Costs                     1500,000                1980,000

Gross Profit                                    600,000                1170,000

Variable Selling and

Administrative Expenses              120,000                   180,000

<u>Fixed Selling & Ad. Expenses       50,000                      50,000</u>

<u>Net Profit                                        430,000                   940,000</u>

<u />

Enterprise Corporation

Dilithium Batteries

Variable Costing Income Statement,

                                                                               

                                                           60,000                 90,000

Sales                                               2100,000               3150,000

Variable

Manufacturing Costs                     960,000                1440,000

Variable Selling and

Administrative Expenses              120,000                   180,000

Contribution Margin                    840,000                1530,000

Fixed manufacturing overhead   540,000                  540,000

costs

<u>Fixed Selling & Ad. Expenses       50,000                      50,000</u>

<u>Net Profit                                        250,000                   940,000</u>

<u />

5 0
3 years ago
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