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Use the information from the table below and compute the factory overheads and the transfer profit if the company uses a mark-up of 15%. Description
Use the information from the table below and compute the factory overheads and the transfer profit if the company uses a mark-up of 15%. Description of cost Change in work-in-progress Machinery repairs Raw material used Factory rent Direct expenses Maintenance supervisor's salary (800) 6,500 110,100 25,000 80,000 12,700 Select one: a. Factory overheads - $19,200 and transfer profit - $35.265 b. Factory overheads- $31.500 and transfer profit - $35.625 c. Factory overheads - $44,200 and transfer profit-$35:025 d. Factory overheads - $233,500 and transfer profit - $35.025 year ending December 31, 2020: Bad debts Sales Debtors Bank Creditors Drawings Finished goods at Jan 1, 2020 Provision for unrealized profit Cost of production Office expenses Rent End of year notes included: 2,500 190,000 9,000 28,000 6000 3,500 9,500 2,300 390,000 22,000 10,000 Closing stock: raw material - $11,000: indirect material - $6.500; work in progress - $4.000: finished goods- $14.000 Goods produced are transferred at a mark up of 10% What is the transfer value of goods produced? Select one
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