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Ludmilka [50]
3 years ago
14

Use the information below for Jensen Company to answer the question that follow. Direct materials used $345,000 Direct labor inc

urred 250,000 Factory overhead incurred 400,000 Operating expenses 175,000 Jensen Company's product costs are a.$825,000 b.$995,000 c.$920,000 d.$770,000
Business
2 answers:
AnnZ [28]3 years ago
8 0

Answer:

b.$995,000

Explanation:

Jensen Company

Direct materials used $345,000

Direct labor incurred 250,000

Factory overhead incurred 400,000

Product cost $995,000

Therefore Jensen Company's product costs is $995,000

Direct materials used $345,000 + Direct labor incurred 250,000 +Factory overhead incurred 400,000 =$995,000

kondaur [170]3 years ago
3 0

Answer:

Jensen Company's product costs are b.$995,000

Explanation:

Product Cost <em>includes</em> all Manufacturing Costs. Non-Manufacturing Costs are treated as <em>expenses</em> during the current period

<u>Calculation of Jensen Company's product costs</u>

Direct materials                       345,000

Direct labor incurred               250,000

Factory overhead incurred     400,000

Total                                          995,000

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Exercise 4-15A Calculate net cash flows (LO4-7) Below are several transactions for Meyers Corporation for 2021. Issue common sto
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$12,600

Explanation:

Particulars                                                              Amount

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b. Purchase building and land with cash,            -$25,000

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d. Pay utilities on building                                      -$500

e. Collect $4,000 on account from customers     $4,000

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7 0
2 years ago
Southern Markets has sales of $78,400, net income of $2,400, costs of goods sold of $43,100, and depreciation of $6,800. What is
Helen [10]

Answer:

36.35%

Explanation:

According to the scenario, computation of the given data are as follows,

Sales = $78,400

Net income = $2,400

Cost of goods sodl = $43,100

Depreciation = $6,800

So, we can calculate the EBIT value by using following formula:

= EBIT ÷ Sales

= ($78,400  - $43,100 - $6,800) ÷ ($78,400)

= $28,500 ÷ $78,400

= 36.35%

Hence, the common-size statement value of EBIT is 36.35%

3 0
2 years ago
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