1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vichka [17]
3 years ago
5

Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes a

re required to mold each candle. If molding labor costs $18 per hour, determine the direct labor cost budget for January. Wax is required to produce a candle. Assume 487,125 pounds of material will be purchased during January. The candle wax costs $1.24 per pound. Prepare a cost of goods sold budget for Pasadena Candle Inc. using the information above. Assume the estimated inventories on January 1 for finished goods and work in process were $200,000 and $41,250, respectively and direct materials wax inventory of 16,000 pounds. Also assume the desired inventories on January 31 for finished goods and work in process were $120,000 and $28,500, respectively and direct materials wax inventory of 12,500 pounds. Factory overhead was budgeted at $300,000. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Business
1 answer:
yarga [219]3 years ago
8 0

Answer:

$2,414,125

Explanation:

Preparation of a cost of goods sold budget for Pasadena Candle Inc

Pasadena Candle Inc. COST OF GOODS SOLD BUDGET For the Year Ending December 31

Finished goods inventory, January 1 $200,000

Work in process inventory, January 1 $41,250

DIRECT MATERIALS:

Direct materials inventory, January 1 $19,840

Direct materials purchases $60,4035

Cost of direct materials available for use $62,3875

Direct materials inventory, December 31 $15,500

Cost of direct materials placed in production $608,375

Direct labor $1,413,000

Factory overhead $300,000

TOTAL manufacturing costs $2,321,375

Total work in process during period $2,362,625

($41,250+$2,321,375)

Work in process inventory, December 31 $28,500

Cost of goods manufactured $2,334,125

($2,362,625-­$28,500)

Cost of finished goods available for sale $2,534,125

($2,334,125+$200,000)

Finished goods inventory, December 31 ­$120,000

COST OF GOODS SOLD $2,414,125

($2534125-­$120,000)

Therefore The cost of goods sold budget for Pasadena Candle Inc will be $2,414,125

You might be interested in
100 points
Dovator [93]
Electronic communications tend to be more casual
6 0
3 years ago
Read 2 more answers
After a business transaction has been analyzed and entered in a journal, the next step in the recording process is to transfer t
Jlenok [28]
After recording the transaction in journal you must record it on General Ledger.
3 0
3 years ago
What is the effect on total assets and​ stockholders' equity of paying the telephone bill as soon as it is received each​ month?
Archy [21]

Answer:

Option C) Decrease in Total Assets , and No Effect on Equity

Explanation:

Telephone bill it's a Current Liability , if you decide to pay it as soon as you receive it you have to use Cash which is part of your Current Asset, so the impact it's a decreased in your Current Assets through the Cash component.

This movement has no impact in the Sotckholder Equity.

6 0
3 years ago
An organization characterized by direct two-way lines of responsibility and communication running from the top of the organizati
Anarel [89]

Answer:

Line

Explanation:

The line organization is the organization structure in which the authority and responsibility are communicated from the top to bottom level of management so that the proper coordination could be done at each level of management i.e top, middle and lower.

Moreover, it is a two ways lines of responsibility i.e to be communicated from high to low level of management. Plus it would be reported to one supervisor only

6 0
4 years ago
why did wiesel write the book night how it connect with readers and who should read the book and why?
Thepotemich [5.8K]
He wrote it because he wanted to share his experience with the world and what he went through. All ages should he able to read books like this so they can learn from the history so they don't repeat the past because everyone needs to know about this even that killer many jews for just being Jews this book helps us have a better understanding of why everyone should be equal to each other.
6 0
3 years ago
Other questions:
  • Brand awareness facilitates decision-making and is especially important for which type of consumer goods?
    7·1 answer
  • Complete the table by calculating the surplus or deficit both in absolute (dollar) terms and as a percentage of gdp. if necessar
    5·2 answers
  • The gas station on the edge of town has gas that is 30c/gallon cheaper than my local station. I buy 10 gallons of gas a week. As
    8·1 answer
  • A credit to an asset account was posted to an expense account. This would cause __________. options: assets to be overstated lia
    5·2 answers
  • All of the following are reasons to get organized except:
    5·1 answer
  • You are considering the purchase of a common stock that paid a dividend of $3.00 yesterday. You expect this stock to have a grow
    13·1 answer
  • Creative Sound Systems sold investments, land, and its own common stock for $32.0 million, $15.2 million, and $40.4 million, res
    9·1 answer
  • Barry's Hobbies produces and sells a luxury animal pillow for $80.00 per unit. In this month of operation, 3,000 units were prod
    9·1 answer
  • If contracting parties attach materially different meanings to a contract word or term subject to more than one reasonable inter
    15·1 answer
  • Your Company makes and sells a single product. Each unit sells for $32 dollars and has a unit variable cost of $20. The company
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!