Reference no: EM13866675
Sales revenue $ 1,800,000
Salaries, sales and administration 220,000
Insurance, factory 16,000
Direct material purchases 580,000
Advertising and promotion 160,000
Rent, factory building 80,000
Maintenance, factory 60,000
Legal and professional services 10,000
Freight-out 50,000
Supplies, factory 14,000
Utilities (80% factory) 100,000
Product research and development 68,000
Indirect labor 112,000
Equipment depreciation (90% factory) 90,000
Direct labor ?
January 1 December 31
Direct material $ 45,000 $ 22,000
Work in process 42,000 ?
Finished goods 17,000 60,000
Jan 1
Dec 31
Direct Material
45000
22000
Work In Process
42000 ?
Finished Goods
17000
60000
Cost of goods sold for 2015 totaled $1,200,000 and total manufacturing costs incurred during the year were $1,240,000.
Determine (a) the direct labor costs for 2015 and (b) the work in process inventory on December 31, 2015. Provide, in a logical sequence, neat and complete documentation of all computations necessary to determine these two answers.
|
What is the gross profit percentage for hotel
: What is the gross profit percentage for a hotel, if the total revenue consisted of rooms revenue $3,075,975 and F&B revenue $943,425? management fees represented 4% of total revenue; rent, property taxes & insurance were $401,940; interest and deprec..
|
|
What do you think the juvenile corrections system will look
: Based on the current attitudes toward juvenile offenders, what do you think the juvenile corrections system will look like in 20 years
|
|
What is the level of sophistication
: According to the FASB conceptual framework, the objective of financial reporting for business enterprises is based on the needs of the users of financial statements. What is the level of sophistication that the Board assumes about the users of financ..
|
|
Prepare journal entries for pancake corporation to account
: Pancake Corporation saw the potential for vertical integration and purchased a 15% interest in Syrup Corp. on January 1, 2013, for $150,000. Prepare journal entries for Pancake Corporation to account for its investment in Syrup Corporation for 2013 a..
|
|
Determine the direct labor costs-work in process inventory
: Cost of goods sold for 2015 totaled $1,200,000 and total manufacturing costs incurred during the year were $1,240,000. Determine (a) the direct labor costs for 2015 and (b) the work in process inventory on December 31, 2015.
|
|
Compare the cultural beliefs toward death and dying
: Based on your own independent research in which you compare the cultural beliefs toward death and dying in Western societies to those in Eastern societies such as China, Vietnam, Japan, and so forth, write an essay that addresses the following poi..
|
|
Personality development of women
: How has that fact influenced concepts in personality theory and their validity? For example, is the personality development of women described as accurately as that of men
|
|
Appropriate accounting for two unrelated events
: Melanie Mielke Construction Corporation is considering the appropriate accounting for two unrelated events during the year. The first event related to the effects of a labor strike that resulted in a work stoppage on a major construction project. Pre..
|
|
Revenue related to its catering service
: Selane Eatery operates a catering service specializing in business luncheons for large corporations. Selane requires customers to place their orders 2 weeks in advance of the scheduled events. Selane bills its customers on the tenth day of the month ..
|