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
saul85 [17]
3 years ago
5

Concord Corporation reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw mate

rials inventory 300000 Ending work in process inventory 900000 Ending raw materials inventory 480000 Raw materials purchased 930000 Direct labor 870000 Manufacturing overhead 690000 Concord Corporation's cost of goods manufactured for the year is
Business
1 answer:
jek_recluse [69]3 years ago
3 0

Answer:

Concord Corporation's cost of goods manufactured for the year is  $2,490,000

Explanation:

For computing the cost of goods manufactured, we have to use the formula which is given below:

= Opening Work in progress inventory + Direct material used + direct labor + manufacturing overhead - ending work in progress inventory

In the given question, the direct material used is not given, so we have to compute it. The formula is given below:

= Opening balance of raw material inventory + Purchase of raw material - ending balance of raw material inventory

= $300,000 + $930,000 - $480,000

= $750,000

And, the other values will remain the same.

So, the answer would be equal to

= $1,080,000 + $750,000 + $870,000 + $690,000 - $900,000

= $2,490,000

Hence, Concord Corporation's cost of goods manufactured for the year is  $2,490,000

You might be interested in
g The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by
postnew [5]

Answer:

The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by:

the high cost of domestic labor.

Explanation:

An entity's ability to be globally competitive in the face of foreign manufacturers with low cost of labor is not helped by the high cost of domestic labor.  The cost of direct labor forms part of the computations for the cost of a product and its pricing.  Cheaper imports are more affordable to consumers than local products, thus causing consumers to prefer imports to domestic products.

4 0
3 years ago
Which of the following has the greatest impact on your cash flow?<br>​
Delicious77 [7]

Answer:

Explanation:when cash comes In bills hit you hard

3 0
2 years ago
Dennis, age 25, needs lifetime life insurance protection. His agent showed him a chart displaying yearly renewable term premiums
Sveta_85 [38]

Answer:

Dennis, age 25, needs lifetime life insurance protection. His agent showed him a chart displaying yearly renewable term premiums and level-premiums for the next ten years. The level premiums were always higher than the yearly renewable term premiums. Based on this chart, Dennis is convinced he should purchase yearly renewable term insurance. What is Dennis overlooking?

"Age" and "Amount of coverage" is the important factor that is being overlooked.

Explanation:

"Age" and "Amount of coverage" is the important factor that is being overlooked.

In level premium insurance, premium prices remain unchanged throughout the term whereas, in yearly renewable term premiums, premium rates rise as the policies age.

Additionally, in level premium, the amount of coverage offered increases over time at no additional expense.

4 0
3 years ago
The typical goal used when developing a process-oriented layout strategy is to: minimize the distance between adjacent departmen
Georgia [21]

Answer:

minimize the material handling costs.

Explanation:

A process-oriented layout is a strategic method or technique used by manufacturing companies to organize and develop their work areas (factories) based on the processes and activities being performed at each factory rather than on the product being manufactured.

Hence, the typical goal used when developing a process-oriented layout strategy is to minimize the material handling costs for each factory.

Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.

6 0
2 years ago
Employees who have the ability to work well with others to get things done are said to have _____ skills.
lozanna [386]

Employees who have the ability to work well with others to get things done are said to have technical skills.

An employee is an employee hired by an employer to do a specific job. Employers control how employees are paid, when employees work, and how employees work. In return, employees receive benefits that contractors do not.

You should take care of your employees as much as you take care of your customers. If you trust and value your employees, they will be more committed to serving your customers well and ultimately contributing to your company in a great way.

An employer is an individual, firm, or organization that employs people and pays them wages for their work. A person who works and gets paid is called an employee.

Learn more about employees here:brainly.com/question/1190099
#SPJ4

7 0
1 year ago
Other questions:
  • It is important that the objectives established by executives for their company must be _____, or else employees will not focus
    6·1 answer
  • A proposed project has fixed costs of $47,000 per year. The operating cash flow at 11,000 units is $69,000. a. Ignoring the effe
    7·1 answer
  • Violet negotiates with Urban Credit Corporation to obtain a loan for $85,000 to buy a home. During the negotiations, Urban Credi
    9·1 answer
  • Shen purchased corporate stock for $20,000 on april 10, 2015. on july 14, 2017, when the stock was worth $12,000, shen died and
    15·1 answer
  • All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a join
    9·1 answer
  • The U.S. Treasury maintains accounts at commercial banks. What would be the consequences for the money supply if the Treasury sh
    12·1 answer
  • Software Distributors reports net income of $58,000. Included in that number is depreciation expense of $11,500 and a loss on th
    14·1 answer
  • What account is a affected when goods are sold on credit <br>​
    8·1 answer
  • Ela insistiu:
    10·1 answer
  • Second-degree price discrimination: Multiple Choice results in transfer pricing. None of the answers are correct. is the practic
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!