RedRock Manufacturing purchased raw materials worth $180,000, with freight-in $8,000 and trade discount 10%. Calculate the total materials cost. A) $170,000 B) $189,200 C) $112,000 D) $288,000
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- The accounting records of Dela Cruz Corporation revealed the following costs direct material used, $750,000; direct labor used, $1,275,000; factory overhead,$1,125,000; indirect materials used $500,000; indirect labor used $600,000; selling and marketing expenses $660,000; general and administrative expenses $440,000. Dela Cruz Corporation Conversion Cost is? a. $2,400,000 b. $1,700,000 c. $2,225,000 d. $2,200,000sPlease give me answer general accounting
- Tumeng Co. acquired a piece of equipment for 1,000,000 and incurred the following additional costs: Brokers Commission 50,000 Freight cost 35,000 Freight Insurance 5,000 Installation costs 250,000 Calibration and testing costs 20,000 Training cost of the machine operators 15,000 General and administrative costs 6,000 The samples generated from testing the equipment were sold for 2,000. Requirements: Compute for the initial cost of the equipmentCorona Company incurred the following costs: Materials P 700,000Storage costs of finished goods 180,000Delivery to customers 40,000Irrevocable Purchase Taxes 60,000 What amount should the inventory be measured?a. 880,000b. 760,000c. 980,000d. 940,000The beginning and ending finished goods inventories of the Prize Ring manufacturing company were $92,000 and $85,750 respectively. If cost of goods sold equaled $76,200, what is the amount of cost of goods manufactured for this period? O $6,250 O $69,950 O $82,450 O $101,550 O $253,950 Question 6 nformation for Gifford, Inc., as of December 31 follows: Administrative salaries Depreciation of factory equipment F2 $ 35,000 25,000
- For the last 2 months, APAY Mining Co. shipped 8,000 tons and 10,000 tons of coal and incurred ₱400,000 and ₱499,000 in shipping costs respectively. Assuming this activity is within the relevant range, expected shipping costs for 11,000 tons would be:a. ₱422,222b. ₱544,500c. ₱548,500d. ₱554,0003. Equivalent units of production based on FIFO are: 100,000 units material, 90,000 units conversion. Beginning inventory costs are: material, Php5,000; labor, Php4,000; and overhead of Php8,000, Current costs are: material, Php45,000; labor, Php80,000; and overhead of Php118,000. The unit cost of material is: A. Php 0.45 B. Php 0.50 C. Answer not given D. Php 1.40 E. Php 2.33Worthington Chandler purchased equipment for $40k. Sales tax on the purchase was $2400. Other costs incurred were freight charges of $600 repairs of $350 for damage during installation and installation costs of $675. What is the cost of the equupment? a.) 43,675 b.) 40k c.) 42,400 d.) 44,025
- Nelson Company purchased equipment and incurred the following costs: Cash price = $55,000 Sales taxes = $4,400 Insurance during transit = $400 Site preparation, installation, and testing= $2,300What amount should be used as the cost basis of the equipment?Direct material used $20,000 Depreciation- plant building $8,000 Indirect material (supplies) $2,500 Depreciation - sales building $6,000 Direct manufactured labor $7,000 Depreciation - plant tools $2.300 Indirect manufactured labor (annually salaries) $3,500 Production 40,000 units The total of "ixed costs" is: Question 3/20o 1.22300, 2 17300. 3.16300. 4.10,300. 5. None of the aboveThe following was the expenditure on a contract for $600,000 Material $120,000Wages $164,000 Plant $ 20,000Overheads $8,600Cash received on account of the contract was $240,000 being 80% of the work certified. The Value of material in hand was $10,000. The plant has undergone 20% depreciation. Calculation the profit on this incomplete contract by preparing a contract account.
