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
Umnica [9.8K]
2 years ago
8

Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Debit Credit Be

ginning 10,000 Purchases 45,000 Available for use 55,000 Direct materials used 46,500 Ending 8,500 Work in Process Inventory Debit Credit Beginning 14,000 Direct materials used 46,500 Direct labor 27,500 Overhead 55,000 143,000 Cost of goods manufactured 131,000 Ending 12,000 Finished Goods Inventory Debit Credit Beginning 16,000 Cost of goods manufactured 131,000 Available for sale 147,000 Cost of goods sold 129,000 Ending 18,000 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.
Business
1 answer:
erastovalidia [21]2 years ago
4 0

Cost of goods manufactured is $131,000 and Cost of goods sold is $129,000.

                           Cost of goods manufactured

Particulars                                                               Amount

Direct Material:  

Beginning Inventory of Raw Material     $10000

Add: Purchase of raw material                 $45000

Raw material available for use                 $55000

Less: Ending inventory of Raw material  ($8500)

Direct Material used                                                    $46500

Direct labor                                                                  $27500

Factory Overhead                                                       <u>$55000</u>

Total manufacturing Cost                                           $129000

Add: Beginning inventory of WIP                               $14000

Total cost of WIP                                                         $143000

Less: Ending Inventory of WIP                                   <u>($12000)</u>

Cost of goods Manufactured                                    <u>$131000</u>

           Cost of goods sold for the year:

Particulars                                               Amount

Beginning stock of finished goods       $16000

Cost of goods manufactured                <u>$131000</u>

Goods available for sale                        $147000

Ending stock of Finished goods           <u>($18000)</u>

Cost of goods sold                                <u>$129000</u>

<u />

<u />

Read more about Cost of goods sold

<em>brainly.com/question/24561653</em>

You might be interested in
During the proofreading task of the completion stage of a business message, be sure to
Nikitich [7]
You have to read very carefully to make sure you dont miss any mistakes

3 0
2 years ago
Delta Company produces a single product. The cost of producing and selling a single unit of the product at the company’snormal a
iogann1982 [59]

I assumed you typo 821 by $21 per unit, then the answer will be

1-  financial disadvantage of accepting the special order is loss of $60,000

2- a minimum selling price for these units should be $14.00

Explanation:

Loss of $60,000 = 15,000 x (14,000 – (5.1+3.8+1+4.2+1.5+2.4))

a minimum selling price for these units is $14.00 per unit because it’s the price the company can earn if accept a special order, though lower than cost of producing and selling at $18.00

6 0
2 years ago
Lenny's Landing has a net Section 1231 gain in the current year of $12,000. In the previous five years, there are $3,000 in unre
Ratling [72]

Answer:

As the $3,000 is unrecaptured losses, it will be carried forward to this year and would be set off against the current year's capital gains.

Explanation:

The previous year unrecaptured loss of $3000 will carried forward and would be set off against the capital gains of $12,000. The gain for the year can be calculated as under:

Capital Gain for the year = Gain Before unrecaptured losses   -  Carried Forward Losses

By putting values, we have:

Capital Gain for the year = $12,000  -  $3,000 = $9,000

The resultant $9,000 would be the capital gain for the year.

7 0
2 years ago
Kenji is another investor who currently owns shares of ESolver stock. He would like to place a particular kind of limit order, i
Mars2501 [29]

Answer: Fill or kill order

Explanation:

A fill or kill order is used when an individual or firm wants to either buy or sell a stock and in such cases, the order must be done as quickly as possible in its entirety.

If the order isn't done immediately at the price that has been specified or a price that's more than the specified price, such order is cancelled. Also, for a fill or kill order, partial execution isn't applicable.

4 0
2 years ago
An index model regression applied to past monthly returns in Ford’s stock price produces the following estimates, which are beli
Neko [114]

Answer:

(1.32%)

Explanation:

The computation of the abnormal change in Ford’s stock price is shown below:

Given that

rF = 0.1% + 1.1rM

If the market index rises by 10.2%

So, now the equation is

= 0.1% + 1.1 × 10.2%

= 0.1% + 11.22%

= 11.32%

And, the stock price rises by 10%

So, now the abnormal change in Ford stock price is

= 10% - 11.32%

= (1.32%)

7 0
3 years ago
Other questions:
  • You must drive at a speed
    15·1 answer
  • In the past, I've mostly reported to easy-going managers with flexible work styles.
    13·1 answer
  • Selected financial information for Thornton Company for 2019 follows: Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise
    8·2 answers
  • Imagine that you are a parent, and your child is going to college in 4 years. Tuition fees amount to $16,000 a year for each of
    8·1 answer
  • Our entrepreneur in problem 4 above is trying to set up a well-organized office filling system that will make it easier (and les
    15·1 answer
  • The market rate of interest​ ________.
    10·1 answer
  • Assume that interest rates on 15-year noncallable Treasury and corporate bonds with different ratings are as follows: T-bond = 7
    15·1 answer
  • In its 2016 annual report, Lockheed Martin reported net earnings of $5,302 million and dividends paid of $2,048 million. Your fo
    13·1 answer
  • Here are data on two companies. The T-bill rate is 4% and the market risk premium is 6%.What would be the fair return for $1 Dis
    9·1 answer
  • Describe the three steps in qualitative data analysis and explain how and why these steps are iterative.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!