Cost of goods sold

Assignment Help Cost Accounting
Reference no: EM13922915

X Company incurred the following total costs in 2014: Direct materials $58,626 Direct labor $93,485 Overhead $190,736 The following additional information was available: -There was one job, costing $27,520, that was finished in 2014, but not sold in 2014. -There was one job, costing $19,445, that was unfinished as of the end of 2014. -There were no unfinished or finished jobs at the beginning of 2014. What was Cost of Goods Sold in 2014?

Reference no: EM13922915

Questions Cloud

Assume regular monthly production regular capacity : Use subcontracting as needed, but no more than 20 units per period. Compute the total cost of each plan. Which plan has the lowest cost? Assume regular monthly production regular capacity.
Various types of accounting changes can affect the financial : Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material effect on the financial statements for the current year of your busine..
A discount or a premium : Was the note issued at a discount or a premium?What is the fair market value of the land at the date of exchange?What is the gain or loss on the sale of the land?
Current value of the company’s stock : the company will also pay out a $48 per share liquidating dividend, and the company will cease operations. If the discount rate is 9 percent, what is the current value of the company’s stock?
Cost of goods sold : There was one job, costing $19,445, that was unfinished as of the end of 2014. -There were no unfinished or finished jobs at the beginning of 2014. What was Cost of Goods Sold in 2014?
Financial statements : As the comptroller of a hospital, you were just informed that one of the surgeons failed to remove an instrument from a patient's innards. The hospital is certain to be sued. How should this information affect the hospital's financial statements?
Decline and erratic trend in cash flows from operations : John Young is a new assistant controller at Richmond Electronics, a large regional consumer electronics chain. Before John's recruitment, he was aware of Richmond's long trend of moderate profitability. The reports on his desk confirm the slight, but..
Subcontracting can handle a maximum : Subcontracting can handle a maximum of 10 units per month. Beginning inventory is zero. Develop a plan that minimizes total cost. No back orders are allowed. Regular capacity Regular production.
Use a combination of overtime inventory : Use a combination of overtime  inventory, and subcontracting to handle variations in demand. Use overtime up to 750 cases per period and inventory to handle variations indemand.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Prepare a cost of goods manufactured statement for june

Favourite Brands Company produces condensed soups at its Red Deer plant. Prepare a cost of goods manufactured statement for June. Prepare a cost of goods sold schedule for June.

  Principles of financial accounting

Discussion Board Grading Criteria: "A" - Answer the question fully and intelligently, providing meaningful responses to classmates and use the text as support.

  Problem on the capital structure

How do you judge a business's well-being from examining its capital structure and does it make a difference who you are

  What is the total cost transferred out

What is the total estimated manufacturing cost of the by-product using the reversal cost method?

  Identifies the specific securities to include in a portfolio

Which of the following statements reflects the importance of the asset allocation decision to the investment process? The asset allocation decision: Helps the investor decide on realistic investment goals. Identifies the specific securities to includ..

  Prepare a schedule of cash collections from sales

Prepare a sales budget in units and dollars, by month and in total, for the second quarter (April, May, and June) of 2010 and prepare a schedule of cash collections from sales, by month and in total, for the second quarter of 2010.

  A probability-proportional-to-size sample with a sampling

In a probability-proportional-to-size sample with a sampling interval of $10,000, an auditor discovered that a selected account receivable with a recorded amount of $5,000 had an audited amount of $4,000.

  Capital assets please respond to the subsequentfrom the

capital assets please respond to the subsequentfrom the second e-activity examine the purpose for the issuance of

  What is lowest price per quart at which ice cream in order

Based solely on the data given, what is the lowest price per quart at which the ice cream in the special order could be sold without reducing Dan & Barry's profits?

  Prepare a cash budget for carmel covering

Prepare a cash budget for Carmel covering the first seven months of 2004 and carmel has $250,000 in notes payable due in July that must berepaid or renegotiated for an extension. Will the firm have ample cash to repay the notes?

  What is the break-even point in sales revenue

What is the break-even point in sales revenue dollars per month and what is the break-even point in number of flights per month (round up)?

  Determine eoq and optimal order intervals and annual costs

Determine EOQ and optimal order intervals, and annual costs for each patty. What fraction of the total annual cost consists of fixed trucking cost?

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