User Account

All Pages

Accounting records reflect the inventories

Assignment Help Financial Accounting
Reference no: EM13868238

Benson Inc.'s accounting records reflect the following inventories:

Dec.31, 2012 Dec.31, 2013 

Raw materials inventory $ 80,000 $ 64,000 

Work in process inventory 104,000 116,000 

Finished goods inventory 100,000 92,000 

During 2013, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000.

 

How much raw materials were transferred to production during 2013 for Benson?

Reference no: EM13868238

Questions Cloud

Desired margin of safety : Which of the following changes would help Arvin achieve its desired margin of safety?
How much cash does sanford consulting services : On October 1, 2014, Sanford Consulting Services, Inc. was started by James and a group of investors and during the month of October the company completed the following transactions. How much cash does Sanford Consulting Services, Inc. have at October..
Contractor is considering the three alternatives : A contractor is considering the following three alternatives:
Accounting records reflect the inventories : Benson Inc.'s accounting records reflect the inventories: During 2013, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000. How much raw materials were transferr..
Strategic position statement analysis and strategic issues : Individual Assignment: Strategic Position Statement Analysis 1200 words, Shared Activity: Strategic Issues Analysis of a Global Company - 1200 words
Shared activity strategic issues analysis of a global compa : Shared Activity: Strategic Issues Analysis of a Global Company, In 1971, one of the founders of a coffee shop in Seattle, Washington, wanted to name the company Pequod after the ill-fated whaling ship in Herman Melville's classic 19th century novel
Individual assignment strategic position statement analysis : Individual Assignment: Strategic Position Statement Analysis, For this Individual Assignment you will 'deconstruct' what you think is the current strategic position of your organisation (based on research of the company
Governments and central banks to manage the economies : Critically evaluate measures used by governments and central banks to manage the economies of their countries. By criticalevaluation use convincing arguments for or against measures used to reduce, minimise or alleviate economic difficultiesmany coun..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Assume the firm used straight-line amortization

Hurst, Incorporated sold its 8% bonds with a maturity value of $3,000,000 on August 1, 2009 for $2,946,000. At the time of the sale, the bonds had 5 years until they reached maturity. Interest on the bonds is payable semi annually on August 1 and Feb..

  Illustrate what are pros and cons related to the change

Describe the structure of GAAP prior to the codification, and after the codification. What are the pros and cons related to the change?

  Question choose a public university system and review the

question choose a public university system and review the audit report and financial statements for the system.prepare

  Compute the companys average unit cost of production

The current information is based on a computer company who sells their devices at $320 per unit. Based on the information provided, the company carries its finished goods inventory at an average cost of production and as of January 1st has no work in..

  Incorporate into your mass manufacturing business

Below is a list of items that you will need to incorporate into your mass manufacturing business. You are to create a manufacturing plant with 2 separate divisions. Each division will make one type of product (i.e. Textbooks and Pens or Shoes and Pur..

  Explain what is the accounts receivable

Sales are 80% credit, of which 40% is collected in the month of sale and 60% is collected in the following month. What is the accounts receivable balance on July 31?

  Write journal entry to show the effect of sale

Write the journal entry to show the effect of the sale of the season tickets and Write the journal entry to show the effect of presenting an event.

  Cost estimating method for situation

Program Office has access to a database of the costs of adding similar equipment to 15 other types of aircraft. What is the most appropriate cost estimating method for this situation?

  Calculate cost of debt and cost of equity

Calculate cost of debt and cost of equity to work out Weighted Average Cost of Capital - Financial management provides a framework for pursuing synergy between the functional responsibilities and financial resources of the business organisation.

  Evaluate the taxable income of a trust

Identify the steps in evaluating the taxable income of a trust or estate and show the uses and implication of distributable net income.

  Calculating additional finance requirementsthe cfo of ipod

calculating additional finance requirements.the cfo of ipod accessories inc. has asked for your help in estimating the

  Compute the gain or loss to mann on the settlement of debt

Mann, Inc., which owes Doran Co. $600,000 in notes payable with accrued interest of $54,000, is in financial difficulty. To settle the debt, Doran agrees to accept from Mann equipment with a fair value of $570,000, an original cost of $840,000, and a..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd