Solution-Compute the balance of work in process at the end

Compute the balance of work in process at the end of year

Assignment Help Accounting Basics

Reference no: EM132730642

Questions -

a) Total manufacturing costs for the year amounted to 5,000,000.

b) Cost of Goods manufactured were 4,850,000.

c) Applied manufacturing overhead was 30% of total manufacturing costs.

d) Manufacturing overhead was applied to production at a rate of 80% of direct labor costs.

e) Work in process inventory on January 1 was 75% of work in process inventory on December 31.

Required - Compute the balance of work in process at the end of the year.

Reference no: EM132730642

Questions Cloud

Comment on whether think john and mary have committed : You are an FBI agent investigating Earnings Management, Comment on whether you think John and Mary have committed any indictable offenses.

Quality management and performance management : Which elements of total quality management and performance management did Andy Davis use?

Prepare the revenues without donor restrictions section : Prepare the revenues, gains, and other support without donor restrictions section of Evanston General Hospital's statement of operations

How social work administrator personal leadership philosophy : Post (2 to 3 pages) how a social work administrator's personal leadership philosophy and style may influence a human services organization's culture.

Compute the balance of work in process at the end of year : Manufacturing overhead was applied to production at a rate of 80% of direct labor costs. Compute the balance of work in process at the end of year

Review the harvard business school reprint-leading teams : Create a plan describing the steps necessary to create more successful teams at various levels within your organization. Include the following in the plan:

Why the cost of equity is the appropriate discount rate : Why the cost of equity is the appropriate discount rate to use to discount a firm's earnings and cash flows. Why is the cost of debt inappropriate to use

Underlisted 9 mission statement components : Analyze the mission statement of the following organizations using the underlisted 9 mission statement components.

Explain about statement of financial position : Explain about Statement of Financial Position and describe any information may be useful to investors in the entity (both lenders and shareholders).

User Account

All Pages

Compute the balance of work in process at the end of year

Reference no: EM132730642

Reference no: EM132730642

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT