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
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

You might be interested in
Supply chain management refers to a relatively new business phenomenon meaning:
inna [77]
The administration of upstream and downstream association's with providers and clients to convey better incentive at less cost than the inventory network all in all.
8 0
3 years ago
Miami Corp. obtained the following information from its accounting records:
Alex Ar [27]

Answer:

cost of goods manufactured= $5,000

Explanation:

Giving the following information:

Beginning Finished Goods Inventory= 12,000

Ending Finished Goods Inventory= 8,000

Cost of Goods Sold= $9,000

To calculate the cost of goods manufactured, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

Isolating cost of goods manufactured

cost of goods manufactured= -beginning finished inventory + COGS + ending finished inventory

cost of goods manufactured= -12,000 + 9,000 + 8,000

cost of goods manufactured= $5,000

4 0
3 years ago
To help finance a new plant, Roxxon, Inc. just sold a noncallable 40 year bond. This $1,000 par bond sells for $1,155 and has a
murzikaleks [220]

Answer:

4.96%

Explanation:

In order to determine the component after-tax cost of debt first we need to  compute the before tax cost of debt by applying the RATE formula which is to be shown in the attachment below:

Given that,  

Present value = $1,155

Future value or Face value = $1,000  

PMT = 1,000 × 8.25% ÷ 2 = $41.25

NPER = 40 years × 2 = 80 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after applying the above formula

1. The pretax cost of debt is 3.54%  × 2 = 7.08%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 7.08% × ( 1 - 0.30)

= 4.96%

8 0
4 years ago
You purchased a machine for $ 1.19 million three years ago and have been applying​ straight-line depreciation to zero for a​ sev
sp2606 [1]

Answer:

$748,820

Explanation:

The computation of the incremental cash flow is shown below:

As we know that

Incremental cash flow = Sale price - (sale price - book value) × tax rate

where,

Sale price is $791,000

The book value is

= Purchase value - accumulated depreciation

= $1,190,000 - $1,190,000 ÷ 7 years × 3 years

= $1,190,000 -  $510,000

= $680,000

So, the incremental cash flow is

= $791,000 - ($791,000 - $680,000) × 38%

= $791,000 -  $42,180

= $748,820

We simply applied the above formula

4 0
3 years ago
If a special sales order is accepted for 3,000 sails at a price of $75 per unit, fixed costs remainunchanged, and there are no a
Paha777 [63]

Question Completion:

We assume that the variable manufacturing cost is $55 per unit.

Answer:

The change in operating income = $60,000

Explanation:

a) Data and Calculations:

Special order = 3,000 units

Price of special order = $75 per unit

Variable cost per unit (assumed) = $55

Fixed costs = unchanged

Variable marketing and administrative costs = unchanged

The change in operating income = $60,000 (($75 - $55) * 3,000)

b) Given the above scenario and the assumed variable cost per unit of $55, the change in operating income will be a total of $60,000, which adds to the normal business of the company.

6 0
3 years ago
Other questions:
  • If the Canadian dollar is strengthening, then:
    10·1 answer
  • The Tapestry™ Segmentation system divides and sorts small geographic areas into categories using 65 or more demographic and life
    7·1 answer
  • If you have a question regarding a compliance concern, or you suspect illegal or unethical documentation or business procedures
    11·1 answer
  • When a country's exports are worth more than its imports, is has a:
    11·1 answer
  • Jing and Tim have parking spaces next to each other at the apartment complex where they live. Tim claims that Jing dented his ca
    9·1 answer
  • What can i do if my total in cash account is not the same in credit and debit side?​
    13·1 answer
  • g On November 1, 2020, 5M Corporation entered into a purchase contract (not subject to revision or cancellation) to purchase 750
    6·1 answer
  • Outline the process the raw ingredients for a single flavor of ice cream might undergo to get to a local grocery’s freezer case.
    15·1 answer
  • Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sol
    11·1 answer
  • Which of the following is a coverage that is broad because it can cover personal as well as commercial entities
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!