Reference no: EM132483864
Question -
Part A - Marley Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2019 is provided:
Item Amount
Sales $100,000
Cost of Goods Manufactured 75,000
Direct Material Purchased 30,000
Factory Overhead 10,000
Work in Process - January 1 30,000
Work in Process - December 31 15,000
Direct Material - December 31 10,000
Total Manufacturing Cost 60,000
Net Income 15,000
Direct Materials used 30,000
Cost of Goods Sold 55,000
Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2019.
Part B - During March 2019, Dylan Corporation recorded $18,000 of costs related to factory overhead. Dylan's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $20,000 would be incurred, and 10,000 direct labor hours would be worked. During March, 10,200 hours were actually worked. Use this information to determine
1. the amount of factory overhead that was applied in March.
2. the amount of factory overhead that was over or under applies.
3. was the factory overhead was over applied or under applied.
|
Analysis of the information in the table
: Researchers are interested in determining if a new diet program is effective at helping people lose weight. In a pilot study, the researchers collect a random
|
|
Calculate the amount of the annual rental payment required
: The cost of the machinery is $520,000, and the fair value of the asset on January 1, 2020, is $737,000. Calculate the amount of the annual rental payment
|
|
Incentive bonus for the production crew
: Management wants to create an incentive bonus for the production crew when the daily production exceeds the 95th percentile
|
|
What is the test statistic for sample of size
: What is the test statistic for sample of size 30, mean 10.20, and standard deviation 1.65?
|
|
Determine the amount of factory overhead
: During March, 10,200 hours were actually worked. Determine the amount of factory overhead that was applied in March
|
|
What is the null and alternative hypothesis
: Does the sample provide evidence conclude that the sample is significantly different from those of the general population? Use a two-tail test with a = 0.01.
|
|
What should be required initial investment at the beginning
: What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places)
|
|
Prepare the General Journal entry for January purchase
: Prepare the General Journal entry(ies) for January 2 purchase and the December 15 & 31, 2019 record of income & gain/loss
|
|
What is the chance that both will be defective
: If two chips are drawn in succession, without replacement, what is the chance that both will be defective?
|