Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

18 please Blackboard xo Remaining Time: 59 minutes, 32 seconds. Question Completion Status: 4 8 10 11 12 12 15 16 17 18 19 20

18 please
image text in transcribed
Blackboard xo Remaining Time: 59 minutes, 32 seconds. Question Completion Status: 4 8 10 11 12 12 15 16 17 18 19 20 21 22 23 24 25 26 QUESTION 18 Penny Corporation has the following information available for October Amount Finished goods, Oct. 1st 58,194 Sales $505,953 Property taxes on finished goods warehouse 519,476 Depreciation on the factory $12.000 Sales commissions $30,273 Work in process, Oct. 1st 40.090 Direct labor incurred 558.814 Factory utilities 542.100 Direct materials used 514.800 The finished goods and work in process accounts had balances on October 31st of 29.843 and $36,081, respectively. If overhead is applied at a rate of 100% of direct material costs. What is the cost of goods manufactured for October? QUESTION 19 debited for $80,000 and credited for $100.000. On August 1st, the Martin Corporation's work-in-process account on August 31st was $22.000. During August, the account work in process account had a balance of $36,000. The $86,000 could represent O direct labor used during the month. Ob manufacturing overhead incurred, O costat ends manufactured Click Save and submit to save and tit. Click Saw All Anders toe allers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance For Lawyers In A Nutshell

Authors: Charles Meyer

7th Edition

1647083001, 9781647083007

More Books

Students also viewed these Accounting questions

Question

2. Have enough shelves so that materials need not be stacked.

Answered: 1 week ago