Reference no: EM131221944
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.
a. $75,400 in raw materials were purchased for cash.
b. $72,800 in raw materials were requisitioned for use in production. Of this amount, $65,600 was for direct materials and the remainder was for indirect materials.
c. Total labor wages of $151,500 were incurred and paid. Of this amount, $133,500 was for direct labor and the remainder was for indirect labor.
d. Additional manufacturing overhead costs of $125,700 were incurred and paid.
e. Manufacturing overhead costs of $129,900 were applied to jobs using the company’s predetermined overhead rate.
f. All of the jobs in progress at the end of the month were completed and shipped to customers.
g. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required:
1. Post the above transactions to T-accounts.
2. Determine the cost of goods sold for the period.
|
Finances these assets entirely with common stock
: Commonwealth Construction (CC) needs $2 million of assets to get started, and it expects to have a basic earning power ratio of 30%. CC will own no securities, so all of its income will be operating income. Assuming a 40% tax rate on all taxable inco..
|
|
Determine the sales in units and in dollars
: Cohen Company produces and sells stocks. Variable costs are $6 per pair and fixed costs for the year total $75,000. The selling price is $10 per pair. Determine the sales in units and in dollars, required to make an after-tax profit of $25,000 given ..
|
|
Design a ranking cube to process generalized skyline queries
: Design a ranking cube to process generalized skyline queries efficiently.
|
|
What is the maximum processing average time
: What is the maximum processing average time for each call that they need to achieve today so that they have stable queue? Round to one decimal place.
|
|
Determine the cost of goods sold for the period
: Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. Post the above transactions to T-accounts. Determine the cost of goods sold for the period.
|
|
Should the ceo be concerned explain
: The owners of the building that was damaged, the local resident who was injured and the owner of the car are all threatening to sue Building Pty Ltd in negligence. Should the CEO be concerned? Explain your reasoning
|
|
Which one accounts is a non-monetary item
: Which one of the following accounts is a non-monetary item? General price level accounting is intended to make historical currency amounts expended in different periods.
|
|
Total sales and break even point in dollar sales
: For the most recent year Triad Company has fixed costs of $240,000 and variable costs of 75% of total sales revenue, earned $70,000 of net income after taxes, and had an income rate of 35%. Determine before tax income, total contribution margin, tota..
|
|
Criteria for evaluating effective team
: Define the three criteria for evaluating effective team/group work (as stated in the textbook) and analyze whether the "team" in the video is effective or not. Provide a review of Tuckman's five stages of group formation and identify what stages a..
|