ADVANCED ACCT CUSTOM W/CONNECT
14th Edition
ISBN: 9781307697711
Author: Hoyle
Publisher: MCG/CREATE
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Maple Corp. uses a job costing system. The company's schedule of
cost of goods manufactured for March includes the following
amounts:
Cost of goods manufactured: $150,000
Cost of direct materials used: $50,000
Cost of direct labor ($40 per hour): $80,000
Work in process inventory, March 1: $20,000
Manufacturing overhead is allocated at a rate of $25 per direct labor
hour.
What is the amount of allocated manufacturing overhead costs for
March?
the company expects to sell 10,000 units this year.?
During 2021, Greenleaf, Inc.'s net income was $500,000. Its
common stockholders' equity was $800,000 at January 1,
2021, and $1,000,000 at December 31, 2021. During 2021,
Greenleaf had 12,000 outstanding shares of 5%, $60 par value
cumulative preferred stock. In December 2021, Greenleaf's
board of directors declared the annual preferred stock
dividend and a $75,000 common stock dividend. What is
Greenleaf's 2021 return on common stockholders' equity?
A. 8.5%
B. 15.0%
C. 20.0%
D. 45.0%
E. None of the above
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