User Account

All Pages

Calculate the company cost of goods sold for the month

Assignment Help Accounting Basics
Reference no: EM132215664

Question - Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:

 

Machining

Customizing

Total

Estimated total machine-hours (MHs)

5,000

5,000

10,000

Estimated total fixed manufacturing overhead cost

$22,000

$11,500

$33,500

Estimated variable manufacturing overhead cost per MH

$1.80

$3.00

 

During the most recent month, the company started and completed two jobs--Job E and Job J. There were no beginning inventories. Data concerning those two jobs follow:

 

Job E

Job J

Direct materials

$12,800

$7,000

Direct labor cost

$17,600

$7,700

Machining machine hours

3,400

1,600

Customizing machine-hours

2,000

3,000

Assume that the company uses a plant wide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to:

$110,808

$61,450

$102,600

$41,150

Reference no: EM132215664

Questions Cloud

Suggest a recruitment strategy that includes the method : Imagine that you work for a medium-sized healthcare organization and the organization is hiring a medical practice manager.
Telephone message for barry : Use the message pad to write this telephone message for Barry.
What is the lowest number of channel by country : What is the lowest number of channel by country - What are the least 3 viewed categories in terms of number of uploaded videos
What new learnings came from the analysis of the study : Why is this study of particular interest to you? What does the study contribute to your own research? What new learnings came from the analysis of the study?
Calculate the company cost of goods sold for the month : If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to
Measure the economic performance of the three countries : She can choose from programs in three countries. What could she use to measure the economic performance of the three countries?
Determine which method may be most effective : Examine two ways that companies can recruit qualified job applicants. Determine which method may be most effective and predict how it could benefit the company.
Provide an overview of the illness or condition : Choose one cause of death from the list and provide an overview of the illness or condition using characteristics of person, place, and time.
Explain ethical principles and protection of human subjects : Adhering to ethical principles and protection of human subjects are important considerations in all forms of research. How stringent or similar should.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journal entries to establish the petty cash

The petty cash fund of Western Glass Company contained the following items on November 30, 2009: Prepare the journal entries to establish the petty cash account and to replenish the fund at the end of November.

  What would the investors think about investing in the stock

Suppose the market price of the stock is $30 (different from the price that CAPM says it should be), what would the investors think about investing in the stock

  Discuss the role of the business manager

Discuss the role of the business manager in helping to determine the computer hardware to be used by the organization.

  Financial statements of the entry to record

What is the effect on the financial statements of the entry to record the day's sales and any related overage or shortage?

  Prepare a statement of revenues and expenses

Prepare a statement of revenues, expenses, and changes in fund net assets for the Water Utility Fund for the year ended June

  Process of budgeting

Explain how and why the process of budgeting used by multinational enterprises varies depending on the enterprise's home country.

  Preparation of the consolidated financial statements 2015

BE210 (BE210/4) - Develop the ability to understand and interact with the nature of the financial statements in reality and develop students' communication skills, such as memo writing, essay writing, analysis and presentation of material.

  Complete the partial balance sheet of spain company

Buildings $1,100,000; accumulated depreciation-buildings $650,000; goodwill $410,000; coal mine $500,000; Complete the partial balance sheet of Spain Company

  Compute the cost of the ending inventory

Pina Colada Corp. reports the following for the month of June. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO

  Amount of cost of goods sold

Based on the information given above, what amount of cost of goods sold did ABC record in 2008?

  1 when does gaap require the use of a debt service fund 2

1. when does gaap require the use of a debt service fund?2. are there instances when a governmental entity is not

  Company involving in a tax dispute

During 2011, Jackson Company became involved in a tax dispute with the IRS. At December 31, 2011, Jackson's tax adviser believed that an unfavorable outcome was probable and a reasonable estimate of additional taxes was $500,000 but could be as mu..

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