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3 years ago

Cullumber Company incurred the following costs while manufacturing its product.

Business

1 answer:

kati45 [8]3 years ago

5 0

Answer:

$328,400

Explanation:

Cost of Goods Manufactured is calculated in Manufacturing Account as follows :

<em>Cost of Goods Manufactured = Beginning Work In Process Inventory + Total Manufacturing Costs - Ending Work In Process Inventory</em>

therefore,

Cost of Goods Manufactured = $13,000 + ($121,000 + $61,000 + $15,000 + $111,000 + $24,000) - $16,600

= $328,400

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Answer:

server

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3 years ago

The following transactions took place for Smart Solutions Inc. 2017 a. July 1 Loaned $79,000 to an employee of the company and r

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Answer:

1 July 2017 Notes receivable $79000 Dr

Cash $79000 Cr

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Explanation:

The receipt of note against issuing loan will cause a credit to cash against notes receivable.

The interest from July to Dec 2017 relates to 2017. Following accrual principle it will be recorded as interest revenue and as it is not received so an asset Interest receivable will be debited.

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Then we will debit cash on July 1 when interest is received and credit interest receivable to close the account.

The cash will be debited and notes receivable account will be closed by crediting it.

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3 years ago

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3 years ago

A consumer goods company segments its markets on the basis of purchase patterns of their customers. The company groups its produ

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Answer:

Segmentation based on product usage

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