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Problem - Marikina Shoe Company had a production run of 10,000 pairs of quality shoes during the month of June, at the following costs per pair:
Materials P200.00
Labor 450.00
Overhead (125% of DL)
Final inspection revealed that 50 pairs were spoiled which were sold as seconds for P20,000. The good units were then shipped to the customer at cost plus 50% mark-upon cost. 1.
Assuming the spoilage is a result of internal failure, determine the manufacturing cost per good pair.
Determine the overhead rate for each of the three cost pools and determine the total amount of overhead charged to Product G.
Construct a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Domingo Corporation uses the weighted-average,How many units are in ending work in process inventory in the first processing department at the end of the month?
What Department X fully completed/transferred out units in July were? Started new in production during July 20,000. Ending work in process, July 31
Direct manufacturing labour 132,000, Compute the average markup percentage for setting prices as a percentage of the variable cost of the product
Hacol Company acquired an asset on January 1, 2003, at a cost of $38,000, with an estimated useful life of 8 years and a salvage value of $2,000. What is the annual depreciation based on the straight-line depreciation method?
Determine Cost per equivalent unit for Material P under the weighted-average method is calculated to be. Work-in-process Inventory Sept. 1 35,000units
Comment on your calculations to help explain what has happened to the material yield variance.
Determine what business form Bob should choose. Explain the different business formats to Bob and which one you recommend for Bob's new business: "Builder Bob" (BB)
What was the cash account balance after the transaction of June 27 was recorded? Ian Lee invested $20,000 cash in the business.
Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on December 31.
Compute the amount of the loan, determine the effective interest rate on the loan - The interest rate Krebsbach is required to pay on the loan is 12%; the interest rate FIS pays on checking accounts is 4%.
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