Beginning balance in the raw materials inventory account

Assignment Help Financial Accounting
Reference no: EM131202522

Dodridge Corporation has provided the following data for February. The beginning balance in the raw materials inventory account was $23,000. During the month, the company made raw materials purchases amounting to $59,000. At the end of the month, the balance in the raw materials inventory account was $33,000. Direct labor cost was $28,000 and manufacturing overhead was $74,000. The beginning balance in the work in process account was $12,000 and the ending balance was $17,000. The beginning balance in the finished goods account was $48,000 and the ending balance was $54,000. The total manufacturing cost for February was: $74,000 $151,000 $102,000 $161,000

Reference no: EM131202522

Questions Cloud

Calculate the break-even point for month in units : Gabby’s Wedding Cakes creates elaborate wedding cakes. Each cake sells for $600. The variable cost of making the cakes is $250, and the fixed cost per month is $8,750. Calculate the break-even point for a month in units.
Determine the magnitudes of the support reactions : The homogeneous 18-kg pulley is attached to the bar ABC with a pin at B. The mass of the bar is negligible. The cable running over the pulley carries a tension of 600 N. Determine the magnitudes of the support reactions at A and C.
Compare and contrast african merican artists art : Choose two works by two of the following late 20th century African-American artists, and compare and contrast their art: Bearden, Lawrence, Basquiat, or Colescott.
Beginning ending raw materials : Juart Corporation reported the following data for the month of December: Inventories: Beginning Ending Raw materials $26,000 $38,000 Work in process $22,000 $21,000 Finished goods $54,000 $56,000 Additional information: Sales $230,000 Raw materials p..
Beginning balance in the raw materials inventory account : Dodridge Corporation has provided the following data for February. The beginning balance in the raw materials inventory account was $23,000. During the month, the company made raw materials purchases amounting to $59,000. At the end of the month, the..
What is the gross profit ratio and sub receive : Parent company sells merchandise to Sub company for $10,000, the merchandise cost Parent company $7,000. Sub company sells the merchandise to an outside third party for $12,000. Parent company owns 80% of sub. What is the gross profit ratio? What pro..
Summarize effective communication techniques : Analyze and present methods to initiate, specify, and prioritize information systems projects and determine various aspects of feasibility of these projects.
Applies manufacturing overhead on basis of machine-hours : Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. The estimates of the manufacturing overhead and of machine-hours were made at the beginning..
Purpose for phd admission in communication studies : Write a Statement of Purpose for PHD admission in communication studies. - Write the statement in professional way, and use specific words.

Reviews

Write a Review

Financial Accounting Questions & Answers

  A pension worksheet that shows the journal entry

Compute pension expense for Robert Corp. for the year 2014 by preparing a pension worksheet that shows the journal entry for pension expense.Indicate the pension amounts reported in the financial statements.

  Complete the following schedule of cash payments

Noncash assets were sold for $115,000. The income ratios of the partners Kale D., Croix D., and Marais K. are 2:3:3, respectively. Complete the following schedule of cash payments for Grafton Company.

  Calculate the excess reserves

Show how the direct deposit of $1,500 (drawn on her employer's bank) into Rosa's checking account affects the bank balance sheet.

  Prepare the business combination valuation entries

Prepare the business combination valuation entries and pre-acquisition entries at I January 2017. Prepare the business combination valuation entries and pre-acquisition entries at 31 December 2017.

  Evaluate sales price per dozen pretzels

Evaluate sales price per dozen pretzels using 120% markup on variable cost and evaluate contribution margin per dozen pretzels and the breakeven point for the quarter (three months) in dollars and units

  Account referred to as the revaluation surplus account

Under IFRS, there exists an account referred to as the “revaluation surplus” account. What type of account is this and what is it used for? Is the normal account balance for this account a debit or credit? Can the account ever carry a balance that is..

  Finding unit product cost for the monthjamil company which

finding unit product cost for the month.jamil company which has only one product has provided the following data

  What is approximate accounting rate of return for machine

A company is considering the purchase of a new machine for $54,400. Management predicts that the machine can produce sales of $37,600 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhe..

  Is there an arbitrage opportunity here

It is now January. The current interest rate is 4%. The June futures price for gold is $1,646.30, while the December futures price is $1,651. Is there an arbitrage opportunity here? If so, how would you exploit it?

  What adjustmentshould be made to bulky federal

What adjustment, if any, should be made to Bulky’s Federal taxable income in determining the correct taxable income for the typical state.

  What type of serial bond schedules an increase each year

What type of serial bond schedules an increase each year in annual principal repayment approximately equivalent to the decrease in interest payments?

  Tradition of mask-making and masquerade

The tradition of mask-making and masquerade can be found the world over, but no place is it as pervasive, diverse and rich as found in the traditional arts of West and Central Africa. Although these masks are often seen as works of art in the West..

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!

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