Compute the amount of direct materials used during August if $25,000 of raw materials were purchased during the month and the inventories were as follows. Inventories Balance Aug. 1 Balance Aug. 31 Raw Material $5,000 $3,000 Work-in-Process 13,000 16,000 Finished Goods 25,000 27,000 a. $27,000 b. $19,000 c. $16,000 d. $23,000
Q: Get answer of accounting Q
A: Step 1: To calculate Book Value per Share (BVPS):1. Total Equity (Ending) = $4,980,0002. Outstanding…
Q: Need Accounting Question Solve
A: Step 1: Cost of goods sold can be calculated by subtracting the Ending Inventory from the Cost of…
Q: Tech Innovators Inc., a technology company, sells high- quality gadgets. At the beginning of 2023,…
A: 1) i) Cost of goods available for sale:- Cost of goods available for sale = Beginning inventory +…
Q: NEED ANSWER
A: Explanation of Current Assets: Current assets are assets that a company expects to convert into cash…
Q: Financial accounting
A: Step 1: Define Manufacturing OverheadManufacturing overhead is allocated based on a predetermined…
Q: Provide correct solution for this accounting question
A: Step 1: Define VarianceVariance in cost accounting refers to the numerical difference between the…
Q: I need do fast typing clear urjent no chatgpt used i will give 5 upvotes pls full explain with…
A: Given Information:The distance between the motor and wheel shafts is 19.7 inches.The wheel shaft…
Q: January February March Cash Receipts Cash payments $ 515,000 402,000 468,000 $ 456,300 343,300…
A: Detailed explanation: JanuaryFebruaryMarchBeginning Cash Balance50,000 50,000 65,977add Cash…
Q: Correct answer
A: Explanation of Assets:Assets are resources owned by a company that have economic value and are…
Q: Hello tutor solve this accounting question
A: Step 1: Define Future Value of InvestmentThe future value of an investment made today or the present…
Q: Need help with this accounting question
A: Direct Material Efficiency Variance = (Actual Quantity - Standard Quantity) * Standard PriceStandard…
Q: Crane Co. returned defective goods costing $4000 to Blossom Company on April 19, for credit. The…
A: Approach to solving the question: Analyze the question. Detailed explanation:When Crane Co. returns…
Q: Give both Answer
A: In accounting, inventory must be reported at the "lower of cost or market" (LCM) value. This…
Q: Answer this last accounting question please!
A: Step 1: Calculate the Desired Ending Balance for the Allowance for Doubtful AccountsTo do this,…
Q: answer must be in table format ni.8
A: Here's a detailed explanation for better understanding. 1. Identifying the Asset Class and Recovery…
Q: Please help with this accounting question
A: Step 1: Define Profitability IndexThe profitability index (PI) is a capital budgeting approach that…
Q: A company is analyzing its break-even point for a product with a selling price of $50 per unit. The…
A: Explanation of Selling Price per Unit:The selling price per unit refers to the amount of money the…
Q: Need answer the accounting question
A: Step 1: Define Operating CycleA business' operating cycle shows the average number of days required…
Q: Prepare the Journal entries
A: Explanation of Accounts Receivable:Accounts Receivable represents the amount of money owed to a…
Q: The following information is available for the pension plan of Wildhorse Company for the year 2025.…
A: A. Pension expense for 2025ParticularAmountService cost62,500Interest cost47,900Actual and expected…
Q: General Accounting Question Solve
A: Step 1: Requirements of the questionWe need to determineIncome before taxes as per cash and accrual…
Q: Accounting
A: If you have any problem let me know in comment section thank you.
Q: Please provide help with the accounting question
A: Step 1: Define OverheadsCosts associated with a company's daily operations are known as overheads.…
Q: None
A: Step 1:Answer -1-Straight Line Method:-Depreciation Expense under Straight Line MethodAsset…
Q: What amount should the building be recorded?
A: 1. Identify the Consideration Given:In this case, Merrit Company exchanged its common stock for the…
Q: Need help with this question not use ai
A: Detailed explanation:The question involves reporting of a note receivable together with its accrued…
Q: Sunland Shutters has the following inventory information. Nov. 1 Inventory 40 units @ $8.00 8…
A: Step 1: Calculate the cost of goods available for saleNov 1: 40 units x $8.00 = $320Nov 8: 100 units…
Q: Please answer the accounting question not use ai
A: Step 1: Define Outstanding Sales BalanceThe outstanding sales balance arises from goods and services…
Q: Question: Pinhead Manufacturers Inc. has estimated total factory overhead costs of $95,000 and…
A: Explanation of Total Factory Overhead Costs:Total Factory Overhead Costs represent all indirect…
Q: Can you please solve this problem?
A: Step 1: Define Profit MarginProfit margin refers to the net income generated by the sale of goods…
Q: Need help
A: 1. Methodology:The Discounted Cash Flow (DCF) method was used, which is appropriate for valuing…
Q: Phoenix Incorporated, a cellular communication company, has multiple business units, organized as…
A: 3. In determining the range of the transfer price, we need to find the minimum transfer price for…
Q: None
A: Step 1: Define Make or BuyIn a relevant analysis for a make-or-buy decision, the things to consider…
Q: Entries for selected corporate transactions Nav-Go Enterprises Inc. produces aeronautical navigation…
A: To understand the completion of stockholders' equity accounts based on the provided transactions, we…
Q: ksf
A: Hello student! The Total Goods Available for Sale (units or dollars) includes all the inventory at…
Q: What is the stock price? For this accounting question
A: To calculate the stock price, we need to use the information provided and some basic financial…
Q: For Blossom Corporation, year-end plan assets were $1,998,000. At the beginning of the year, plan…
A: The actual return on plan assets is a measure of the earnings from the investments made by a pension…
Q: Give true answer this accounting question
A: Step 1: Define Operating leverageOne of the measure used in the cost accounting by the business…
Q: Provide correct solution
A: Step 1: Define Pension ExpensePension is payable to the employees after their retirement. The…
Q: Give correct answer accounting
A: Step 1: Define Stock RepurchaseTreasury shares represent shares issued but not outstanding anymore…
Q: Hello tutor answer the question
A: Step 1: Define Application of Overhead ExpensesOverhead expenses can be applied either by…
Q: Determine the material price variance. Accounting
A: Step 1: Material Price variance occurs due to the difference between the standard price and the…
Q: Need help
A: Step 1: Define Direct LaborDirect labor denotes the cost of labor that is directly associated with…
Q: Problem Set 2Caricolor Limited operates a paint manufacturing plant, housing two distinct…
A: 1. Compute Equivalent Units in the Mixing DepartmentEquivalent Units Calculation:- Units Completed…
Q: Answer
A: Explanation: Current ratio is a financial metric that is used to estimate the liquidity available to…
Q: Provide solution this accounting question
A: Step 1: Define Direct Labor Cost VarianceDirect labor cost variance is used to know the deviation of…
Q: How many?
A: Explanation of Selling Price:The selling price is the amount of money a customer pays to purchase…
Q: Pitino acquired 90 percent of Brey's outstanding shares on January 1, 2022, in exchange for $441,000…
A: First, let's calculate the components of the $93,960 Equity in Earnings of Brey for 2024:Basic…
Q: Need all answer
A: EXPLANATION FOR THE JOURNAL ENTRIESStaring Balances does not need Journal Entries.Purchase of Office…
Q: Answer
A: Total Revenue: Selling price per unit * Number of units soldTotal Cost: Fixed costs + (Variable cost…
Need Answer Please Provide Solution
Step by step
Solved in 2 steps
- Provide Answer with calculation and explanationCompute the amount of raw materials used during November if $30,000 of raw materials were purchased during the month and if the inventories were as follows: Balance Balance Inventories November 1 November 30 7,000 4,000 Raw materials Work in process 6,000 7,500 10,000 12,000 Finished goods O $29,500 O $27,000 O $31,500 O $33,000 %24 %24 %24 %24 %24 %24Compute the amount of raw materials purchased during August if Rs.400,000 of raw materials consumed during the month and the inventories were as follows: Inventories Balance August 1 Balance August 31 Raw Materials 25,000 30,000 Work in Process 13,000 16,000 Finished Goods 25,000 27,000
- Question 1Part IAdvent Corporationhas provided the following data for its activities for the month of May.Beginning Raw Materials Inventory$75,000Ending Raw Materials Inventory$45,000Purchases of Raw Materials$550,000Direct Labour Incurred$120,000Manufacturing Overheads Incurred$250,000Beginning Work in Process$60,000Ending Work in Process$140,000Required: Prepare a schedule of the Cost of Goods Manufactured for the month of May.How do I find the numbers to the questions marks?Selling expenses $ 211,000Purchases of raw materials $ 266,000Direct labor ?Administrative expenses $ 152,000Manufacturing overhead applied to work in process $ 363,000Actual manufacturing overhead cost $ 350,000Inventory balances at the beginning and end of the year were as follows:Beginning of Year End of YearRaw materials $ 53,000 $ 32,000Work in process ? $ 28,000Finished goods $ 33,000 ?The total manufacturing costs for the year were $670,000; the cost of goods available for sale totaled $750,000; the unadjusted cost of goods sold totaled $661,000; and the net operating income was $38,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.Prepare General journal entries for the given question
- provide the correct answrCosts per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $18,000 of direct materials. ACCOUNT ACCOUNT NO. Date Item Debit Credit BalanceDebit BalanceCredit June 1 Bal., 1,800 units, 60% completed 21,132 30 Direct materials, 25,800 units 247,680 268,812 30 Direct labor 43,300 312,112 30 Factory overhead 33,740 345,852 30 Goods transferred, ? units ? ? 30 Bal., 2,800 units, 70% completed ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning…Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $18,000 of direct materials. ACCOUNT ACCOUNT NO. Date Item Debit Credit BalanceDebit BalanceCredit June 1 Bal., 1,800 units, 60% completed 21,132 30 Direct materials, 25,800 units 247,680 268,812 30 Direct labor 43,300 312,112 30 Factory overhead 33,740 345,852 30 Goods transferred, ? units ? ? 30 Bal., 2,800 units, 70% completed ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning…
- a. The equivalent units of production for materials in Department X is? b. The equivalent units of production for conversion in Department X is c. The equivalent units of production for materials in Department Y isThe following data were taken from the records of JunCompany for the current period:Sales P5,590,000Sales returns 55,000Inventories, January 1:Raw materials 131,000Work in process 238,350Finished goods 442,000Inventories, December 31:Raw materials 145,500Work in process 175,720Finished goods 412,000Direct labor 1,050,300Purchases 2,051,500Purchase returns 17,150Purchase discounts 12,550Freight in…The following data were taken from the records of JunCompany for the current period:Sales P5,590,000Sales returns 55,000Inventories, January 1:Raw materials 131,000Work in process 238,350Finished goods 442,000Inventories, December 31:Raw materials 145,500Work in process 175,720Finished goods 412,000Direct labor 1,050,300Purchases 2,051,500Purchase returns 17,150Purchase discounts 12,550Freight in…