No

Massena Corporation reported the following data for the month of February:

Elodia [21]

Answer:

$186,700

Explanation:

The computation of adjusted cost of goods sold is shown below:-

Before that we need to do the following calculations

Raw material consumed = Beginning raw material + Raw material purchases - Ending raw materials - Raw materials included in manufacturing overhead costs as indirect materials

= $40,000 + $63,000 - $24,000 - $5,000

= $74,000

Total manufacturing cost = Beginning work in progress + Raw material consumed + Direct labor cost + Manufacturing overhead cost - Ending work in progress

= $23,000 + $74,000 + $73,700 + $48,000 - $17,000

= $201,700

Unadjusted Cost of goods sold = Raw materials + Total manufacturing cost - Ending finished goods

= $50,000 + $201,700 - $72,000

= $179,700

Adjusted COGS = Unadjusted Cost of goods sold + Underapplied overhead

= $179,700 + ($55,000 - $48,000)

= $179,700 + $7,000

= $186,700

6 0

3 years ago

The particular type of shareholder voting used has become less important with the influence of takeovers, leveraged buy-outs, an

o-na [289]

Answer: B. False

Explanation:

Even in the case of take over or mergers or acquisition, a shareholder remains part of the organization because the shareholder still has the shares within the company and therefore could play a decisive role in the voting.

5 0

3 years ago

Explain business activities and classification ?<br><br>

nexus9112 [7]

Answer:

Business activities may broadly be classified into two categories namely (A) Industry and (B) Commerce. Industry involves production of goods and services whereas commerce is concerned with the distribution of goods and services.

Explanation:

hope helps

7 0

3 years ago

Read 2 more answers

Wooderson Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sa

tankabanditka [31]

Answer:

FIFO COST OF GOODS SOLD$ 239,200

b) Weighted Average Inventory $ 6120

c) LIFO Ending Inventory = $ 5000

Explanation:

Wooderson Company

Periodic inventory system

Units Unit Cost Total Cost

3/1 Beginning inventory 100 $40 $ 4000

3/3 Purchase 60 $50 $ 3000

3/4 Sales 60 $80 $ 4800

3/10 Purchase 200 $55 $ 11000

3/16 Sales 70 $90 $ 6300

3/19 Sales 90 $90 $ 8100

3/25 Sales 60 $90 $ 5400

3/30 Purchase 40 $60 $ 2400

Sales = $ 4800 + $ 6300 + $ 8100 + $ 5400= $ 246,000

Ending Inventory= 120 units

FIFO Ending Inventory= $ 6800

40 units at $60 = $ 2400

80 units at $55 = $ 4400

FIFO COST OF GOODS SOLD= SALES Less FIFO Ending Inventory

= $ 246,000- $ 6800= $ 239,200

b) Weighted Average Inventory= (Total Cost / Total Units) Ending Units= (20,400/ 400) * 120 = $ 6120

c) LIFO Ending Inventory = $ 5000

100 units at $40 = $ 4000

20 units at $ 50= $ 1000

3 0

3 years ago

Stockmaster Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the begi

KonstantinChe [14]

Answer:

Explanation:

Forming

Estimated fixed manufacturing overhead $27,000

Estimated variable manufacturing overhead ($1.10*5,000) $5,500

Estimated total manufacturing overhead cost $32,500

Assembly

Estimated fixed manufacturing overhead $10,500

Estimated variable manufacturing overhead ($2.80 × 5,000) 14,000

Estimated total manufacturing overhead cost $24,500

Now we need to add these two numbers ($32,500 + $24,500 = $57,000) in order to identify plantwide predetermined manufacturing overhead rate

Estimated total manufacturing overhead cost $57,000

Estimated total machine hours 10,000

Predetermined overhead rate $5.70 [57,000/10,00]

The overhead applied to Job C:

Overhead applied to job C = Predetermined overhead rate x Machine-hours incurred by C

= $5.70 * (3,400 + 2,000)

= $5.70 x (5,400)

= $30,780

Job C’s manufacturing cost:

Direct materials $11,200

Direct labor cost $21,900

Manufacturing overhead $30,780

Total manufacturing cost $63,880

The selling price for Job C:

Total manufacturing cost $63,880

Markup (40%) 25,552

Selling price $89,432

8 0

4 years ago