eudora industries announces a layoff of 465 employee, or 3% of its workforce. What was the size of its total workforce.
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eudora industries announces a layoff of 465 employee, or 3% of its workforce. What was the size of its total workforce.
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- Accenture Chemicals has the following data relating to its factory in the year ended 31 December 2020: Direct material costs OMR 500 Direct labor cost OMR 250 The total indirect expenses for the factory are OMR 30,000. There were 5,000 labor hours worked and 25,000 machine hours consumed in the factory in the year 2020. Compute the overhead rate based on direct labor hour. None of these b. OMR 6.000 / hour COMR 1.000 / hour d. OMR 6.150 / hourAnwer Manufacturing had the following information in its records at the end of the year: Predetermined overhead rate 140% of direct labor costs Estimated direct labor costs 87,500 Actual direct labor costs 84,000 Manufacturing Overhead 15,000 17,000 80,000 What was the balance in Manufacturing Overhead?Our company began operations on August 1, 2023. During August, we only worked on three jobs: Job 100, Job 200, and Job 300. The costs charged to these jobs during August and other relevant information are given below. You will need this to answer the next five questions. a) Job 100 and Job 200 were finished in December, but Job 300 was not finished b) Job 100 consisted of 7,000 units and Job 200 consisted of 7,500 units. c) During August, the company sold 5,600 units of Job 100 at a selling price of $20 each. Also, during August, the company sold 6,500 units from Job 200 at a selling price of $13 each. d) During the month of August, the company purchased $15,000 worth of Direct Material. Description Job 100 Job 200 Job 300 Direct Material Direct Labor $5,000 $7,500 $12,000 $15,500 Overhead $18,000 $7,750 Do NOT put "$" signs or Commas in your answer. Question: Compute the Ending Work in Process Inventory for August 31, 2023. $1,600 $6,400 $9,600
- WeatAdams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter: Balance Job 356 $450 Job 357 1,235 Job 358 378 Job 359 689 Job 360 456 Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job. What is the balance of Sales for Adams Company at the end of the first quarter? Oa. $2,685 Ob. $1,000 Oc. $685 Od. $1,685Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.50 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Molding Fabrication 2,500 1,500 $ 16,200 $ 3.00 Estimated total fixed manufacturing overhead $ 12,000 $2.20…
- The wages payable related to factory workers for Larkin Company during the month of January are $73,000. The employer's payroll taxes for the factory payroll are $9,200. The fringe benefits to be paid by the employer on this payroll are $6,200. Of the total accumulated cost of factory labor, 83% is related to direct labor and 17% is attributable to indirect labor. (a) (b) Prepare the entry to record the factory labor costs for the month of January. Prepare the entry to assign factory labor to production. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) Debit Credit IICao Inc. has worked on the following jobs during the first quarter of the year. The list of each job along with the balance of the total costs incurred at the end of the quarter is provided below: Job no. Ending Balance Job No. 221 $1,350 Job No. 222 1,270 Job No. 223 1,580 Job No. 224 1,690 Job No. 225 960 During the first quarter, jobs 221, 222, and 223 were completed; jobs 221 and 223 were sold on account for $2,000 and $2,380 respectively. What would the journal entry to record the costs of completed job during the first quarter be? Group of answer choices Debit: Finished goods inventory $4,200 and Credit: Work-in-process inventory $4,200 Debit: Work-in-process inventory $2,650 and Credit: Finished goods inventory $2,650 Debit: Finished goods inventory $1,270 and Credit: Work-in-process inventory $1,270 Debit: Work-in-process inventory $2,930 and Credit Finished goods inventory $2,930Moira Company has just finished its first year of operations. At year end, MOH allocated (or applied) was $435,000 and MOH control was $425,000. The firms decides to prorate the under or overapplied overhead based on the ending balances in the appropriate accounts. Ending balances are:Materials inventory $20,000WIP inventory 40,000FG inventory 80,000COGS 680,000 After closing out the overhead accounts using the proration method, what is the balance in the FG inventory account?
- A company’s Factory Overhead account shows total debits of $624,000 and total credits of $646,000 at the end of the year. Prepare the journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold.The following information is obtained from the records of Al Marai manufacturing company for the month of January 2021. Particulars Amount (OMR) Direct material consumed 41,000 Direct manufacturing wages 17,000 Indirect manufacturing wages 5,500 Supervisor salary 2,000 Factory rent 1,500 Factory lighting 1000 Indirect materials 1200 Depreciation of machines Office overheads 5,000 Office salaries 1,000 Office expense 800 Selling and distribution 2,300 overheads Sales 95,000 Based on the above information prepare the cost sheet and select the correct answer for the following elements: The amount of prime cost is OMR; The amount of works cost is OMR; The cost of production is OMR; The total cost of sales is OMR; The profit is OMR;Sweeten Company had no Jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $33,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.70 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional Information to enable calculating departmental overhead rates: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Estimated total machine-hours used Estimated total fixed…
