Find cost of product transferred to finished goods inventory

Assignment Help Accounting Basics
Reference no: EM131765375

Question: Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $219,600 of raw materials on credit; issued materials to production of $213,000 of which $35,400 were indirect. Minstrel incurred a factory payroll of $160,800, paid in cash, of which $45,400 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,300 and $30,600 respectively. Compute the cost of product transferred to Finished Goods Inventory:

a. $610,700.

b. $481,400.

c. $450,800.

d. $452,800.

e. $452,800.

Reference no: EM131765375

Questions Cloud

Discuss the changes made in the control mechanisms : Discuss the changes made in the control mechanisms (external and internal) in order to control the management, financing, and quality in long-term care systems.
Calculate depletion expense for the first year : During the first year of operations, 11,000 tons are extracted and sold. Calculate depletion expense for the first year
How did your specialization develop : How would you describe the key philosophies of the counseling profession: wellness, resilience, and prevention?
Discuss study the store marketing manager estimates : Based on a market research study the store marketing manager estimates an average consumption of 5 low calorie
Find cost of product transferred to finished goods inventory : Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $219,600 of raw materials on credit; issued materials to production.
Saudi arabia or the world for the luxury brands : List the luxury brand watches, state how luxury is defined for a watch, and the market share either within the U.S. or Saudi Arabia or the World for the luxury.
Best beer corporation beer-processing facility : The problem is to determine the rated capacity for The Best Beer Corporation beer-processing facility and that facility has three sub-facilities.
Prepare a production budget for january and february : These goals were met at December 31, 2010. Prepare a production budget for January and February 2011
Choice of two investment accounts : You have your choice of two investment accounts. Investment A is a 5-year annuity that features end-of-month $2,500 payments and has an interest rate

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