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Ivan
4 years ago
12

A company completes 21,000 units this month and has ending goods in process inventory of 3,000 units which are estimated to be 4

0% complete. Direct materials cost per EUP is $5.00 and Conversion cost per EUP is $1.50. The cost transferred to Finished Goods Inventory is $____________
Business
1 answer:
NikAS [45]4 years ago
3 0

Answer:

The correct answer is $136,500.

Explanation:

According to the scenario, the given data are as follows:

Complete units = 21,000 units

Direct material cost per EUP = $5.00

So, direct material cost = 21,000 × $5 = $105,000

Conversion cost per EUP = $1.50

So, conversion cost = 21,000 × $1.50 = $31,500

So, we can calculate the cost transferred to finished goods by using the following formula:

The cost transferred to finished goods = Direct material Cost + Conversion Cost

= $105,000 + $31,500

= $136,500

Hence, the cost transferred to finished goods is $136,500.

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IRR = 5.05%

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3 years ago
Technique for the simultaneous organization of two variables into a table is known as
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3 years ago
EA12.
BaLLatris [955]

Answer:

$38,400

Explanation:

<em>1. Cash Purchases:</em>

The total purchases in the month of March is of $35,000.

It is given that 70% of Purchases are for cash.

Hence, 70% of $35,000 would be;

$39,000 x 0.70

$27,300

<em>2. Credit Purchases: </em>

Remaining Balance of Purchases from the month of February:

For the month of February Cash Purchases can be calculated as follows;

$37,000 x 0.70

$25,900

Remaining Balance to be paid in March for the month of February can be calculated as follows;

$37,000 - $25,900

$11,100

<em>3. CASH PAYMENT for PURCHASES in MARCH:</em>

Cash Purchases = $27,300

Credit Purchases = $11,100

Hence;

<em>Cash Payment for purchases in March = Cash Purchases + Credit Purchases </em>

Cash Payment for purchases in March = $27,300 + $11,100

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7 0
4 years ago
sheridan company had beginning inventory of $12600 at March 1, 2022. During the month, the company made purchases of $54600. The
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$52670 is the cost of goods sold for the month of March

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The carrying value of goods sold during a specific period is referred to as the cost of goods sold. Costs are assigned to specific items using one of several formulas, such as specific identification, first-in-first-out, or average cost.

The value of a company's cost of goods sold is determined by the inventory costing method used. When recording the level of inventory sold during a period, a company can use one of three methods: The average cost method, first in, first out (FIFO), and last in, first out (LIFO)

If COGS rises, net income will fall. While this change is advantageous for income tax purposes, the business will generate less profit for its shareholders. Businesses thus try to keep their COGS low so that net profits will

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7 0
2 years ago
TB MC Qu. 8-199 The Puyer Corporation makes and sells ... The Puyer Corporation makes and sells only one product called a Deb. T
34kurt

Answer: $10

Explanation:

First, we need to calculate the total budgeted selling and administrative expenses for March which will be:

Advertising = $50,000

Add: Executive salaries = $60,000

Add: Depreciation on office equipment = $20,000

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= $10

7 0
3 years ago
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