Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 13, 2024

Question # 1: DIRECT MATERIAL =10000 DIRECT LABOR=3000 FACTORY OVERHEAD=40000 WIP BEG=2000 WIP END =0 COGM=? Question # 2: DIRECT MATERIAL =10000 DIRECT LABOR=3000 FACTORY

Question # 1:

DIRECT MATERIAL =10000

DIRECT LABOR=3000

FACTORY OVERHEAD=40000

WIP BEG=2000

WIP END =0

COGM=?

Question # 2:

DIRECT MATERIAL =10000

DIRECT LABOR=3000

FACTORY OVERHEAD=40000

a.calculate prime cost

b.calculate conversion cost

c.calculate total cost

Question # 3:

difference between absorption and variable costing? support your answer with statements?

Question # 4:

upload any cost of goods sold statement?

Step by Step Solution

★★★★★

3.39 Rating (143 Votes )

There are 3 Steps involved in it

Step: 1

To calculate the Cost of Goods Manufactured COGM we use the following formula COGMDirectMaterialsUsed DirectLabor FactoryOverhead WIPBeginningWIPEnding COGM Where Direct Materials Used is the cost of ... 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

Step: 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

Financial and Managerial Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

11th Edition

9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895

More Books

Students also viewed these Accounting questions

Question

★★★★★

1. Blueprint Problem: Absorption Costing and Variable Costing Absorption Costing versus Variable Costing The cost of manufactured products consists of direct materials, direct labor, and factory...

Answered: 1 week ago

Question

★★★★★

The cost of manufactured products consists of direct materials, direct labor, and factory overhead. The reporting of all these costs in financial statements is called absorption costing. Absorption...

Answered: 1 week ago

Question

★★★★★

ChalkTalk Ltd manufactures blackboard chalk for educational uses. The company's product is sold by the bog at 550 per unit. ChalkTalk uses an actual costing system, which means that the actual costs...

Answered: 1 week ago

Question

★★★★★

On June 30, 2011, Prego Equipment purchased a precision laser-guided steel punch that has an expected capacity of 300,000 units and no residual value. The cost of the machine was $450,000 and is to...

Answered: 1 week ago

Question

★★★★★

How is per stirpes different from per capita distribution?

Answered: 1 week ago

Question

★★★★★

Franklin Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 315,000 shares of stock outstanding....

Answered: 1 week ago

Question

★★★★★

The distribution function of a random variable X is (i) Which are the points of discontinuity for F? (ii) Calculate the probabilities P(0 (iii) Find the expected value and the variance of X. 0, 16...

Answered: 1 week ago

Question

★★★★★

Assuming that Beaver did, in fact, sign the exculpatory clause, did she later disaffirm or ratify the contract? Explain. Renee Beaver started racing go-karts competitively in 1997, when she was...

Answered: 1 week ago

Question

★★★★★

Question 1 Not yet answered Marked out of 1.00 P Flag What is the purpose of 'namespace std' in C++ langauage? a. add conflict b. display conflict c. print conflict d. avoid conflict

Answered: 1 week ago

Question

★★★★★

Use Tobins separation theorem to reconcile the ROD rate of return to SHS with the equity cost of capital to a firm

Answered: 1 week ago

Question

★★★★★

Five sequential operations have the following hourly production rates. A=150, B=175, C=95, D=88, E=120. What is the hourly throughput rate?

Answered: 1 week ago

Question

★★★★★

Tata Motors is primarily targeting emerging countries (e.g., Africa, Asia Pacific, Middle Eastern, and Latin America for its future exported growth.) Is this a viable and logical exporting strategy?

Answered: 1 week ago

Question

★★★★★

Olsen & Alain, CPAs (O&A) performed the audit of Rocky Point Brewery (RPB), a public company in 20X1 and 20X2. In 20X2, O&A also performed tax services for the company. Which statement best describes...

Answered: 1 week ago

Question

★★★★★

The City by the Bay Chocolate Company makes world-class chocolate. They are preparing their Finished Goods Inventory Budget for next year. Each box of chocolate they make has the following costs:...

Answered: 1 week ago

Question

★★★★★

Determine the value of a stock with the following variables using the constant growth model: Current annual dividend: $3.25 per share Required return rate: 6% Constant growth rate: 5.5% $689.00...

Answered: 1 week ago

Question

★★★★★

Currently topOfStack = 5 9 9 and maxStackSize = 8 0 0 . Then, a push ( 1 0 0 ) operation adds 1 0 0 to index type your answer... of the array, and topOfStack equals type your answer... after the...

Answered: 1 week ago

Question

★★★★★

The population of Detroit, Michigan, decreased from 1,027,974 in 1990 to 688,701 in 2013 (Source: U.S. Census Bureau). Find the average rate of change in the population of Detroit, Michigan, over the...

Answered: 1 week ago

Question

★★★★★

Determine the amount be paid in full settlement of each of invoices (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within...

Answered: 1 week ago

Question

★★★★★

The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained...

Answered: 1 week ago

Question

★★★★★

Rearrange the following steps in the accounting cycle in proper sequence: a. Financial statements are prepared. b. An adjusted trial balance is prepared. c. Adjustment data are assembled and...

Answered: 1 week ago

Question

★★★★★

4.8 Apply the described methods on the salinity dataset consisting of measurements of water salinity (salt concentration, lagged salinity, trend) and river discharge taken in North Carolina. This...

Answered: 1 week ago

Question

★★★★★

Some organisations tape record the proceedings of their meetings instead of having a shorthand writer present. Unless such tape recording is done professionally, this method can have many...

Answered: 1 week ago

Question

★★★★★

4.10 Consider the stackloss dataset from Example 4.4. Assuming that the variable stack.loss depends only on the variable Acid.Conc., apply the methods used in Example 4.4 and compare the estimates...

Answered: 1 week ago

Previous Question Next Question