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Mariana [72]
3 years ago
9

Materials used in product $125,700 Advertising expense $51,700 Depreciation on plant 63,400 Property taxes on plant 23,100 Prope

rty taxes on store 8,100 Delivery expense 24,700 Labor costs of assembly-line workers 116,100 Sales commissions 43,900 Factory supplies used 31,700 Salaries paid to sales clerks 52,800 Work in process inventory was $13,800 at January 1 and $17,600 at December 31. Finished goods inventory was $68,800 at January 1 and $45,700 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured $enter the Cost of goods manufactured in dollars
Business
1 answer:
Elodia [21]3 years ago
4 0

Answer:

cost of goods manufactured= $356,200

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

<u></u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Overhead:

Depreciation on plant 63,400

Property taxes on plant 23,100

Factory supplies used 31,700

Total overhead= $118,200

cost of goods manufactured= 13,800 + 125,700 + 116,100 + 118,200 - 17,600

cost of goods manufactured= $356,200

You might be interested in
Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data
Alla [95]

Answer:

Blinks= $18.4

Dinks= $110.4

Explanation:

Giving the following information:

Blinks:

Units= 947

Direct labor hours per unit= 1

Dinks:

Units= 1,811

Direct labor hours per unit= 6

Fabrication Department= $109,400.

Assembly Department= $108,000.

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Total overhead= 109,400 + 108,000= $217,400

Total direct labor hours= (947*1) + (1,811*6)= 11,813

Predetermined manufacturing overhead rate= 217,400/11,813

Predetermined manufacturing overhead rate= $18.40 per direct labor hour.

Now, the unitary allocated overhead per unit:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Blinks= 1*18.4= $18.4

Dinks= 6*18.4= $110.4

7 0
3 years ago
Marvin Services Corporation had the following accounts and balances: Accounts payable $ 6,000 Accounts receivable 8,000 Cash 7,0
patriot [66]

Answer:

The balance of the company's retained earnings account is $33,000

Explanation:

The computation of retained earning balance is shown below:

= Assets - Liabilities - shareholder equity

where,

Assets = Accounts receivable + Cash + equipment + prepaid insurance + supplies

= $8,000 + $7,000 + $44,000 + $4,000 + $2,000

= $65,000

Liabilities = Accounts payable + notes payable + unearned service revenue

               = $6,000 + $8,000 + $3,000

               = $17,000

And, the common stock is $15,000

Now put these values to the above formula

So, the answer would be equal to

= $65,000 - $17,000 - $15,000

= $33,000

3 0
3 years ago
Kodak resisted making changes as the photography environment was moving from chemical to digital processes. Its ___ prevented th
omeli [17]

Answer:

The correct answer is inertia.

Explanation:

Inertia is called in physics the resistance that bodies oppose to modify their state of motion or stillness, either to alter their speed, their course or to stop; although the term also applies to the modifications of your physical state.

A body, thus, requires a force that overcomes inertia to alter its trajectory, which would otherwise adhere to the laws of uniform rectilinear motion, or to initiate a movement, otherwise it would remain at rest. This, of course, considering that there is no rest or rectilinear and uniform movement in the universe, except based on a reference (observation) system. That is why it is preferred to speak of "relative rest."

7 0
3 years ago
At the beginning of 2020, Sun Angel Corporation began offering a two-year warranty on its products. The warranty program was exp
Artemon [7]

Answer:

$2,210,126

Explanation:

Calculation to determine what The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:

Estimated Warranty Liability=(1%+3%*$184,743,795)-$5,179,626

Estimated Warranty Liability=$7,389,752-$5,179,626

Estimated Warranty Liability=$2,210,126

Therefore The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:$2,210,126

5 0
3 years ago
An unfavorable materials quantity variance indicates that: select one:
Verizon [17]
<span>c. actual usage of material exceeds the standard material allowed for output.</span>
3 0
3 years ago
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