Calculate the cost of the finished goods

Assignment Help Accounting Basics
Reference no: EM131786651

Question - The following information is available for completed Job No. 402: Direct materials, $80,000; direct labor, $120,000; manufacturing overhead applied, $60,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is

a. $40,000.

b. $260,000.

c. $52,000.

d. $208,000

Reference no: EM131786651

Questions Cloud

How much is the cost per machine : Madison Inc. uses job order costing for its brand new line of sewing machines. How much is the cost per machine
Implement jit methodology : What are some websites that implement JIT methodology. For example manufacturing, automotive etc
Minimize the sum of the ordering and holding costs : How many gallons should Joe order from his supplier with each order to minimize the sum of the ordering and holding costs?
Computing the firm market value capital structure : The Dandy Doodle Corporation has 9.9 million shares of common stock outstanding, 430,000 shares of 6 percent preferred stock outstanding.
Calculate the cost of the finished goods : Manufacturing overhead applied, $60,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is
What is the value of the firm under each proposed plans : DAR Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II).
Prepare journal entries that recorded as of december : Prepare the journal entries that should be recorded as of December 31, 2010, to recognize each of the situations above
What is the most that would pay davidson consulting : Davidson Consulting believes that they can help your company reduce production costs in exchange for a one-time fee.
Ordering and holding costs incurred by each case sold : If Millennium chooses to order 100 cases each time, what is the sum of the ordering and holding costs incurred by each case sold?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Cost of goods sold for the year

Cost of goods manufactured equals $55,000 for 2010. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2010 are $4,000 and $5,000, respectively. How much is c..

  Compute the activity rate for each activity cost pool

Fogerty Company makes two products, titanium Hubs and Sprockets. Compute the activity rate for each activity cost pool

  Result of the transaction problem

Carol continued to serve as president of Teal Corporation after the redemption. As a result of this transaction, which of the following is correct?

  Calculate the salvage value for this piece of equipment

XYZ Company is considering the purchase of a new piece of equipment. Calculate the salvage value for this piece of equipment

  What is the contribution margin ratio

Hunter inc. sells unique product with the following information available: Sales price $100 per unit variable costs $40 per unit fixed costs $19,500 units produced and sold 1,300. If one more unit is sold how much will net operating income incr..

  Discuss the amount of each payment if the interest rate

Determine the amount of each payment if the interest rate, determine the answers to each of the following independent situations

  Confirm that the combination of twinkies and pizzas

Confirm that the combination of Twinkies and Pizzas you end up with will maximize your total utility by computing the total utility

  A major drug company anticipates that in future years it

a major drug company anticipates that in future years it could be involved in litigation regarding perceived side

  Write down a 750- to 1050-word paper in apa format

write a 750- to 1050-word paper in apa format including citations and references summarizing your ideas about internal

  Determining free cash flow

During the year, Xero, Inc., experienced increase in net fixed assets of $300,000 and had depreciation of $200,000. If operating cash flow (OCF) for the year was $700,000, compute firm's free cash flow (FCF) for the year.

  At what amounts should each of the three assets be recorded

The estimated fair values of the assets are land $66,000, At what amounts should each of the three assets be recorded

  Prepare a correct income statement for july 2012

The income statement of Kaleta Co. for the month of July shows net income of $1,500 based on Service Revenue $5,500; Salaries and Wages Expense $2,100; Supplies Expense $900, and Utilities Expense $500.

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