Two items are omitted from each of the following three lists of cost of goods manufactured statement
Question:
Transcribed Image Text:
1,000 10,000 12,000 Work in process inventory, December 1 Total manufacturing costs incurred during December Total manufacturing costs Work in process inventory, December 31 Cost of goods manufactured 60,000 $64,000 $120,000 2,000 S58,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (16 reviews)
a 13000 1000 12000 b 11000 ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships for the year 2010, Craig Cantrel and Mills Enterprises....
-
Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by...
-
Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. $ 16,000 $ 36,000...
-
A Ltd acquired a 60% shareholding interest in B Ltd in 20x4. B Ltd acquired a 30% shareholding interest in C Ltd in 20x5. A Ltd acquired a 30% shareholding interest in C Ltd in 20x6. For the year...
-
1.Which of the following is a valid delegate definition? a.private delegate float MyDelegate(float); b.private delegate MyDelegate(x); c.private delegate MyDelegate(float x); d.private delegate void...
-
Understand why provisions for doubtful debts are needed and make adjustments for bad and doubtful debts
-
Refer to Polariss financial statements in Appendix A to answer the following Required 1. For the year ended December 31, 2011, what amount is credited to Income Summary to summarize its revenues...
-
For each of the following independent situations, calculate the amount(s) required. Required: 1. At the break-even point, Jefferson Company sells 115,000 units and has fixed cost of $349,600. The...
-
After many recent set-backs for the cruise industry, the morale among the Seas the Day cruise ship crew is quite low. In response, Valery. a top manager aboard the ship, reminds the crew about the...
-
Full Frame is a family-owned company that operates five custom framing stores. Each store offers a variety of services: matting and mounting prints; framing photos, paintings, posters, and prints;...
-
Guzman Manufacturing Company reported the following materials data for the month ending October 31, 2008: Materials purchased ..... $175,000 Materials inventory, October 1 .. 45,000 Materials...
-
The following information is available for Applebaum Manufacturing Company for the month ending January 31, 2008: Cost of direct materials used in production . $165,000 Direct labor .................
-
List five questions you would ask Shoppers' management if you were considering lending money to the company. Your questions should pertain to information that you can't obtain from the financial...
-
Given below is some is a comparison of financial performance data of a project when flexibility is incorporated (I.e. flexible project) in comparison to when it is not. (i.e. inflexible project) The...
-
For Service Zone H, assuming your shipment chargeable weight is between 100 and 300 kg, at what weight does it become cheaper to declare the shipment weight to be 300 kg.? EG: What is the rate break...
-
Gold Dust Ltd has produced the following budgeted data for its current financial year:- Sales 2900000 Direct materials 400000 Direct labour 500000 Production overhead 1200000 Production cost 2100000...
-
Critical Review V Hide Assignment Information Instructions Williams, A. (2012). Worry, intolerance of uncertainty, and statistics anxiety. Click on the following link to retrieve the article....
-
(4.) Octopussy Company uses a predetermined overhead rate in applying overhead to production orders on a labor-cost basis for Dept. A and on a machine-hour basis for Dept. B. At the beginning of...
-
Support department cost allocation, reciprocal method (continuation of 14-20). Refer to the data given in Exercise 14-20. REQUIRED 1. Allocate the two support departments' costs to the two operating...
-
On January 2, 20X3, Sheldon Bass, a professional engineer, moved from Calgary to Edmonton to commence employment with Acco Ltd., a large public corporation. Because of his new employment contract,...
-
Use the following information to determine cash flows from financing activities. a . Issued common stock for $40 cash. b . Paid $70 cash to retire a notes payable at its $70 maturity value. c . Paid...
-
Discuss why options and warrants may be considered potentially dilutive common shares for the computation of diluted earnings per share.
-
Discuss why options and warrants may be considered potentially dilutive common shares for the computation of diluted earnings per share.
-
Discuss why options and warrants may be considered potentially dilutive common shares for the computation of diluted earnings per share.
-
Mediocre Company has sales of $120,000, fixed expenses of $24,000, and a net income of $12,000. If sales rose 10%, the new net income would be: Question 18 options: $16,800 $36,000 $13,200 $15,600
-
1. Why might managers of small restaurants decide not to adopt the standard work hour approach to controlling labour cost? (minimum 150 words )
-
Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles? A. U.S. GAAP impairment is likely to be greater than IFRS impairment. B. The impairment test for limited...
Study smarter with the SolutionInn App