Discuss cost of goods sold at the end of the month

Assignment Help Accounting Basics
Reference no: EM131763413

Nagle Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. In October the company completed job O43G that consisted of 24,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job O43G shows that the total cost for the job was $928,800. During the month, the actual manufacturing overhead cost incurred was $241,200 and the manufacturing overhead cost applied to job O43G was $259,200. And during the month, 21,000 completed units from job O43G were sold. No other products were sold. The cost of goods sold that would appear on the income statement for October is closest to:

$928,830 $910,770 $794,700 $830,700

Reference no: EM131763413

Questions Cloud

What factors will contribute to successful variable pay plan : What factors will contribute to a successful variable pay plan?
Systems are important to united parcel service : Discuss why information systems are important to United Parcel Service (UPS).
What are the inventoriable costs per unit associated : What are the inventoriable costs per unit associated with Product
Prepare a segmented income statement in contribution format : Traceable fixed production costs $12,000 $33,000, Prepare a segmented income statement in the contribution format for last month
Discuss cost of goods sold at the end of the month : Nagle Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month
What return on equity will the company earn : Under these conditions, the tax rate will be 34 percent. If the changes are made, what return on equity will the company earn
What will be its dividend payout ratio : If the company follows the residual dividend policy, how much cash dividend can be distributed, and what will be its dividend payout ratio?
Discuss total equivalent units for conversion costs : Total equivalent units for conversion costs, assuming that the first-in, first-out method is used to cost inventories
Operating leverage vs business risk : What do the above results suggest with regard to the operating leverage vs. business risk?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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