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lawyer [7]
3 years ago
15

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Debit

Credit Beginning Balance 5,250 9,500 5,450 Work in Process Debit Credit Beginning Balance 4,350 22,450 6,450 8,750 8,550 Finished Goods Debit Credit Beginning Balance 2,450 20,650 22,450 Manufacturing Overhead Debit Credit 3,050 8,550 3,750 3,450 Wages & Salaries Payable Debit Credit 20,650 Beginning Balance 2,750 12,500 Cost of Goods Sold Debit Credit 20,650 The Cost of Goods Manufactured was:
Business
1 answer:
Karolina [17]3 years ago
6 0

The Cost of Goods Manufactured was $22,450.

<h3>What is Cost of Goods Manufactured?</h3>

The cost of goods manufactured refers to the cost of goods completed and are derived by calculating the total value of inventory produced.

Usually, the Cost of goods manufactured are derived by: Beginning WIP inventory +  Direct materials used + Direct labor used + Manufacturing oh applied - Ending WIP inventory.

But, the cost of goods manufactured equals the amount transferred to Finished Goods account

The amount transferred to Finished Goods account equals $22,450.

In conclusion, the Cost of Goods Manufactured was $22,450.

Read more about cost of goods manufactured

<em>brainly.com/question/13767214</em>

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A trucking company sold its fleet of trucks for $55,400. The trucks originally cost $1,426,000 and had Accumulated Depreciation
victus00 [196]

Answer:

Loss of $97,600

Explanation:

From the question above a trucking company sold its fleet for $55,400

The truck original cost is $1,426,000

The depreciation is $1,273,000

The first step is to calculate the book value

Book value= cost-accumulated depreciation

= $1,426,000-$1,273,000

= $153,000

The next step is to subtract the book value from the cost to determine if it a gain or loss

= $55,400-$153,000

= -97,600

Since the value is negative then, the trucking company is at a loss of $97,600

4 0
3 years ago
You are a Geographic Information System (GIS) specialist who normally works at the Public Works Planning office. You are directe
algol13

Answer:

Chain of Command and Unity of Command

Information and Intelligence Management

Explanation:

Chain of Command dives into the hierarchical structure of the organization and Unity of Commands refers to the fact that every individual has a designated supervisor that they report to. This is supported by the information given because you report to the Planning Section Chief.

On the other hand, because you are producing maps you support the Information and Intelligence Management which deals with "gathering, analyzing, assessing, sharing, and managing incident-related information and intelligence."

For more information check the following page: https://emilms.fema.gov/IS100c/groups/133.html

8 0
3 years ago
Read 2 more answers
CVS pharmacy collects data from bar-coded products. These data can be evaluated and combined to monitor which CVS products are i
Pani-rosa [81]

Answer:

InfoScan.

Explanation:

A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.

Basically, a universal product code (UPC) comprises of two (2) main parts;

A machine-readable barcode that contains sets of vertical black lines.

A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.

The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.

Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.

In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.

3 0
3 years ago
Epiphany Industries is considering a new capital budgeting project that will last for three years. Epiphany plans on using a cos
Elina [12.6K]

Answer:

FCF years 1 is $43,000

NPV is $13,300

Explanation:

The free cash flow for the first  year=net income+depreciation-Capital exp

net income is $13,000

depreciation is $30,000

capital exp for the first year is nil

the free cash flow=$13,000+$30,000+$0=$43,000

FCF year zero=-$90,000

the FCF for year1 applies to years 2 and 3 as well

NPV=-$90,000+$43,000/(1+12%)^1+$43,000/(1+12%)^2+$43,000/(1+12%)^3=

$13,278.74

The closest option is $13,300

8 0
4 years ago
Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include
Katena32 [7]

Answer: $672,000

Explanation:

Porter sold land to Simi which means that their land balance reduces. Simi's however increases by the same amount. As Porter owned all the voting stock, the sale will be accounted for at the book value.

The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

= (416,000 - 65,000) + (256,000 + 65,000)

= 351,000 + 321,000

= $672,000

The book value of the Consolidated land will be $672,000 in 2020.

3 0
4 years ago
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