Answer:
Account Title Dr Cr
Supplies Expense (22,150+9,350-8,810)..............22690
Supplies....................................................................................22690
Interest Receivable .....................................................450
Interest Revenue .......................................................................450
Rent Revenue.............................................................$7,000
Unearned Revenue...............................................................$7,000
Answer:
$1,758.71
Explanation:
NPV = -$62,000 + $16,500 / 1.148 + $23,800 / 1.1482 + $27,100 / 1.1483 + $23,300 / 1.1484
NPV = $1,758.71
Answer:
(C) $26,000.
Explanation:
The debit to Finished Goods Inventory to record the completion of Job XX4 is the total cost for Job XX4 completion;
The job cost sheet showed $8,000 in direct labor at a rate of $20 per direct labor hour, then the total labor hour taken is 400 hours (= $8,000/ $20)
Factory overhead is applied at $30 per direct labor hour, then the total overhead is $12,000 (= 400 hours x $30 per hour)
The total cost = direct materials + direct labor + overhead = $6,000 + $8,000 + $12,000 = $26,000
Answer: $237070
Explanation:
The amount that Novak should report as its December 31 inventory will be:
Inventory in hand = $190,000
Add: Goods bought from Pelzer Corporation = $25,170
Add: Cost of goods sold to Alvarez Company = $21900
Total = $237070
The amount that Novak should report as its December 31 inventory will be $237070
Answer:
The manufacturing overhead applied to work in process is:
D. $79,000
Explanation:
a) Data and Calculations:
Beginning work in process inventory 30,000
Direct materials used in production 50,000
Direct labor 60,000
Total manufacturing costs to account for 219,000
Manufacturing overhead applied to WIP 79,000 (219,000 - 140,000)
Ending work in process inventory 72,000
b) The manufacturing overhead applied to Work in Process is the difference between the total manufacturing costs to account for and the costs of beginning work in process, direct materials, and direct labor for the period. When the ending work in process is deducted from the total manufacturing costs, the resulting figure represents the cost of goods transferred to finished goods inventory.
