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Answer ASAP(Show Steps) The following information is available for Discounted Supplies Inc. and its two divisions, Small Supplies and Large Supplies. Whole Company Net sales
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The following information is available for Discounted Supplies Inc. and its two divisions, Small Supplies and Large Supplies. Whole Company Net sales $120,000 Fixed costs controllable by Small Supplies $88,000 Large Supplies $40,000 24,500 4,000 Division Manager 26,500 Fixed costs not controlled by 8,000 5,000 3,000 Division Manager Variable costs: 14,500 17,500 7,000 Cost of merchandise sold Operating expenses Unallocated costs 15,000 6,400 21,400 8,000 What is the contribution controllable by segment manager for the Small Supplies Division? (Show your calculations) Sandy Jensen Company uses a job-order costing system and has the following data available: $26,000 64,000 58,000 148,000 Beginning direct-materials inventory Beginning work-in-process inventory Beginning finished goods inventory Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Overhead application rate(based on direct labor cost) 82,000 130,000 146,000 292,000 260,000 125% The journal entry to record the cost of goods sold would include a A) credit to Finished Goods Inventory for $260,000 B) credit to Cost of Goods Sold for $292,000 C) credit to Work-in-process Inventory for $260,000 D) debit to Finished Goods Inventory for $292,000Step by Step Solution
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