A partial listing of costs incurred at Archut Corporation during September appears below: Direct materials Utilities, factory Administrative salaries Indirect labor Sales commissions Depreciation of production equipment $1,13,000 $ 5,000 $ 81,000 $ 25,000 $ 48,000 $ 20,000 Depreciation of administrative equipment $ 30,000 Direct labor $ 1,29,000 $1,35,000 Advertising The total of the product costs listed above for September is
Q: Please help me this question
A: Step 1: Define Accounting ElementsThe balance sheet reports a company's economic resources (assets)…
Q: I want to this question answer general Accounting
A: The P/E ratio (Price-to-Earnings ratio) is calculated as:P/E Ratio = Price per Share / Earnings per…
Q: Hello tutor provide solution this general accounting question
A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a financial performance metric that…
Q: Need help
A: Step 1: Define Accounts Receivable TurnoverThe Accounts Receivable Turnover ratio is a financial…
Q: Please answer the following requirements on these general accounting question
A: Step 1: Define Accounts Receivable Turnover and Number of Days' Sales in ReceivablesAccounts…
Q: Help
A: Explanation of Activity-Based Costing (ABC):Activity-Based Costing (ABC) is a costing methodology…
Q: General Accounting Question please solve this one
A: Step 1: Define ROI (Return on Investment)Return on Investment (ROI) is a financial metric used to…
Q: What is the gross profit percentage for the current year ? General accounting
A: Step 1: Define Gross ProfitThe gross profit of a company is reported on its income statement. It is…
Q: The operating income using variable costing is: $_____. Financial Account
A: Step 1: Identify Relevant DataUnits Produced: 10,000Units Sold: 8,000Selling Price per Unit:…
Q: The following data relate to Tech Edge in 2023.... Please provide answer the accounting question
A: Step 1: Formula Cost of goods sold = Beginning inventory + (Purchases - Purchase returns) - Ending…
Q: Activity based overhead
A: Explanation of Activity-Based Costing: Activity-based costing (ABC) is a costing method that…
Q: Sub - General Account
A: 1. Introduction to the ConceptEconomies of scale are a critical concept in economics and business,…
Q: Kindly help me with accounting questions
A: Step 1: Definition of P/E RatioThe Price-to-Earnings (P/E) Ratio is a valuation metric that measures…
Q: What is the value of ending inventory under variable costing on this accounting question?
A: Step 1: Define Variable CostingUnder variable costing, only variable costs (direct materials, direct…
Q: Provide answers to this problem
A: Explanation of Allowance Method:The allowance method is an accounting technique used to estimate and…
Q: Johnson corp purchased
A: Explanation: In the given case, it is stated that the entity purchased a group of assets for…
Q: What is rural hydroponics total assets turnover? General accounting
A: Step 1: Define Asset TurnoverThe asset turnover ratio calculates the efficiency of a company by…
Q: Question: A companys total liabilities are $247,000, and its equity is $987,000. What are the total…
A: Explanation of Assets:Assets are resources owned by a company that have monetary value and are…
Q: profit for the period
A: Explanation of Sales Revenue:Sales revenue refers to the total income a business generates from…
Q: Please given correct answer
A: Step 1: Define Gain or Loss on Asset DisposalWhen an asset is sold, the company receives the…
Q: None
A: Step 1: Definition of the Accounting EquationThe accounting equation is the foundation of…
Q: Expert of general account help me to solve...
A: When a company recognizes the cost of goods sold (COGS), it records the expense of inventory that…
Q: Hello tutor please provide correct answer general Accounting question
A: Step 1: Define Accounting EquationThe accounting equation is very useful for beginners in accounting…
Q: What is the real risk free rate on these financial accounting question?
A: Understanding the Question:The bond's nominal interest rate (r) of 9% includes compensation for…
Q: General Accounting question
A: Fixed overhead per unit = 117,250 / 33,500 = $3.5 Variable…
Q: Need answer
A: The question requires the determination of the ROE and the ROIC.Return on equity (ROE) is a…
Q: Get correct answer accounting questions
A: Step 1: Definition of Credit SalesCredit sales for a given period can be determined using the…
Q: Jones company reported a pretax book solve this question general Accounting
A: Step 1: Define Income taxThe government collects tax revenue from residents for initiatives that…
Q: Kindly help me with accounting questions
A: Step 1: Formula Gross margin = Net sales - Cost of goods soldGross margin = (Sales revenue - Sales…
Q: Answer this Question
A: Step 1: The net income of a business is $44,700. The total equity of the business is $111,750. Sep…
Q: Baltimore's total liabilities are _. # General Account #
A: Step 1: Understand the QuestionLiabilities are obligations the company owes to others, such as debts…
Q: Account tutor help to solve this.
A: The correct answer is:e. None of the above. Explanation:If the ending inventory is understated by…
Q: None
A: Step 1: Define EquityEquity is the portion of an asset that belongs to the owner. It could be…
Q: Get solution this accounting question not use ai
A: Step 1: Define Inventory Turnover and Days in InventoryInventory Turnover measures how many times a…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Straight-Line Depreciation with Revised EstimatesStraight-line depreciation…
Q: NO AI for this general account questions
A: Relationship between inventory levels, purchases, and the cost of goods sold (COGS):COGS = Beginning…
Q: Financial Accounting Question please answer
A: Step 1: Define Inventory Carrying CostInventory carrying cost refers to the total expense incurred…
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Provide Answer
A: Given:Net Income = $268,000Total Assets = $2,576,000ROA=268,000/2,576,000×100ROA=0.104×100=10.4%…
Q: Answer? ? General Accounting question
A: Step 1: Define LiabilityThe debt a business owes to settle previous transactions is termed a…
Q: Not use chart solution given correct answer general Accounting
A: Calculation of Units started and completed outUnits Completed and Transferred Out= Beginning WIP +…
Q: What is the amount of ending inventory?
A: Step 1: Understand the Key FormulaThe relationship between the cost of goods available for sale,…
Q: Please need answer the accounting question
A: Step 1: Calculation of variable overhead per unitUnder variable costing, we consider only variable…
Q: I need this question answer general Accounting
A: Step 1: Define Inventory ShrinkageInventory shrinkage is the loss of inventory that occurs due to…
Q: GENERAL ACCOUNTING 2.4
A: Explanation of Equivalent Units for Materials:Equivalent units for materials refer to the number of…
Q: general account tutor provide answer
A: Key FactsLease Term: 9 years.Initial Lease Payment: $698,000 on January 1, Year 1.Present Value of…
Q: Financial accounting question
A: Step 1: Define Net IncomeNet income is the profit made by a company after deducting the expenses…
Q: A company has sales of $389,000 and cost of goods sold of $174,000. What is the gross profit margin?…
A: Explanation of Gross Profit Margin:Gross Profit Margin is a critical profitability metric that…
Q: Provide correct answer general accounting
A: Determine the required pre-tax operating profitCrest's desired after-tax operating profit is…
Q: What the store at year end ? Solve the general Accounting question
A: Step 1: Define EquityEquity refers to the total claim of the owner on the asset of the company. It…
Q: Calculate the company's dividend yield on these financial accounting question please answer
A: Step 1: Define Dividend YieldDividend yield measures the annual dividend income relative to the…
The total of the product costs listed above for September is _.
Step by step
Solved in 2 steps
- Selected information from Hernandez Corporation shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2The following product costs are available for Stellis Company on the production of erasers: direct materials, $22,000; direct labor, $35,000; manufacturing overhead, $17,500; selling expenses, $17,600; and administrative expenses; $13,400. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 13,750 equivalent units are produced, what is the equivalent material cost per unit? If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit?The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials$ 16,700Indirect labor147,000Property taxes, factory9, 700Utilities, factory87, 000Depreciation, factory273, 900Insurance, factory 11, 700 Total actual manufacturing overhead costs incurred$ 546, 000Other costs incurred: Purchases of raw materials (both direct and indirect)$ 417,000Direct labor cost$ 77,000Inventories: Raw materials, beginning$ 21, 700Raw materials, ending$ 31, 700 Work in process, beginning$ 41, 700Work in process, ending$ 71, 700 The company uses a predetermined overhead rate of $26 per machine - hour to apply overhead cost to jobs. A total of 21,400 machine - hours were used during the year. Required:1. Compute the amount of underapplied or overapplied overhead cost for the year.2. Prepare a schedule of cost of goods manufactured for the year.
- The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: $ 16,700 147,000 9,700 87,000 273,900 11,700 $ 546,000 Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: $ 417,000 $ 77,000 Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 21,700 $ 31,700 $ 41,700 $ 71,700 The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 21,400 machine- hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year. Complete this question by entering your…Asteroid Industries accumulated the following cost information for the year: Salesperson salaries Indirect materials Indirect labor Factory depreciation Direct labor $ 16,600 4,600 9,100 13,400 37,600 Using the above information, total factory overhead costs equal:Refer to the information given. For each of the activity cost pools identified,indicate whether it represents a unit-level, batch-level, product-sustaining-level, or facility-level activity.
- The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor $ 15,300 133,000 8,300 Property taxes, factory Utilities, factory 73,000 Depreciation, factory 152,100 10,300 Insurance, factory $ 392,000 Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $ 403,000 $ 63,000 Direct labor cost Inventories: Raw materials, beginning Raw materials, ending $ 20,300 $ 30,300 Work in process, beginning $ 40,300 Work in process, ending $ 70,300 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year.Within the costing system of Asempa manufacturing company the following types of expense are incurred. GHȼCost of oils used to lubricate production machinery 20,000Motor vehicle licences for lorries 50,000Depreciation of factory plant and equipment 40,000Cost of chemicals used in the laboratory 10,000Commission paid to sales representatives 25,000Salary of the secretary to the finance director 22,000Trade discount given to customers 12,000Holiday pay of machine operatives 32,000Salary of security guard in raw material warehouse 15,000Fees to advertising agency 8,000Rent of finished goods…Ans
- Compute conversion costs given the following data: direct materials, $353,000; direct labor, $208,700; factory overhead, $186,300 and selling expenses, $39,400.Lincoln Corp. obtained the following information from its absorption costing accounting records: Operating income = $48,000 Total product costs incurred during the period = $37,000 Value of beginning work-in-process and finished goods inventories = $0 Value of ending work-in-process and finished goods inventories = $0 Sales = $100,000 The total period costs incurred this period equals: a. $15,000 b. $20,000 c. $48,000 d. $68,000Schedule of Activity Costs Quality Control Activities Process audits Training of machine operators Processing returned products Scrap processing (disposal) Rework Preventive maintenance Product design Warranty work Finished goods inspection Activity Cost $50,000 28,000 19,000 25,000 8,000 30,000 46,000 12,000 23,000 From the provided schedule of activity costs, determine the value-added costs. A.$177,000 B.$191,000 C.$156,000 D.$104,000