Answer:
=$854,000
Explanation:
The cost of goods sold is the expense incurred by a manufacturing firm when making goods to be sold to customers. It is calculated using the formula.
Cost of goods sold = Beginning Stock plus purchases/ cost of goods manufactured minus ending stock
Marigold Corp:
Beginning stock: $162,000
Ending stock: $174,000
cost of goods manufactured, $866000;
cost of goods sold =
$162,000 + 866,000 -$174,000
=$854,000
Answer:
total amount of overhead applied = $265680
Explanation:
given data
Actual direct labor hours = 8200
overhead rate = 32.40 per DLH
to find out
total amount of overhead applied
solution
we will apply here formula for total amount of overhead applied that is
total amount of overhead applied = Actual direct labor hours × overhead rate ..................1
put here value in equation 1 we get
total amount of overhead applied = 8200 × $32.40
total amount of overhead applied = $265680
Answer: A. Products were overcosted during the year.
Explanation:
At the budgeted figures of $25,000 fixed overhead costs and the 2,000 units of production, the predetermined fixed overhead rate is:
= 25,000 / 2,000
= $12.50 per unit
However, the company then produces 2,200 units at the same cost of $25,000 making the actual predetermined fixed overhead rate:
= 25,000 / 2,200
= $11.36 per unit
<em>The actual rate is less than the predetermined rate which means that the products had originally be overcosted by being apportioned higher expenses. </em>
Answer:
George buys 5 bags of cookies each month
Explanation:
Given
(per gallon)
(per bag)
Required
Determine the number of bags of cookies he buys
First, we need to determine the marginal utility of cookies
To solve this, we make use of the following formula:
Substitute values for
<em>MU of Milk = 4</em>
<em>Cost of Milk = 2</em>
<em>Cost of Cookies = 4</em>
<em />
This gives:
From the given table:
The corresponding bags of cookies for marginal utility of 4 is 5
Hence:
George buys 5 bags
Answer:
$17,500
Explanation:
The computation of the fixed cost and the variable cost per hour by using high low method is shown below:
Variable cost per hour = (High tutoring cost - low tutoring cost) ÷ (High service hours - low service hours)
= ($125,000 - $55,000) ÷ (4,300 hours - 1,500hours)
= $70,000 ÷ 2,800 hours
= $25
Now the fixed cost equal to
= High tutoring cost - (High service hours × Variable cost per hour)
= $125,000 - (4,300 hours × $25)
= $125,000 - $107,500
= $17,500
