How much inventory was requistioned for use on job

Assignment Help Managerial Accounting
Reference no: EM132987764

Question - Month of Dec 31, 2020, Glorybe industries had $ 1000 of RM inventory of beginning of 2020. $ 800 of materials on hand, During the year the company purchased $ 122000 of materials, however paid for only $ 117000. How much inventory was requistioned for use on job during 2020?

Reference no: EM132987764

Questions Cloud

How much cash after taxes would Sandra receive : How much cash after taxes would Sandra receive from her investment in the first year if BAL is organized as either an LLC or a C corporation
Provide the journal entries for both years : Assuming asset revaluations were undertaken for the land in both 20X4 and 20X6, provide the journal entries for both years
What is the time value of the option : The premium on a 650-strike call option on a stock is 75 per option. The option has 10 days to maturity. If the stock trades at 550, what is the time value
What did your analysis tell you about these companies : What did your analysis tell you about these companies? What sorts of decisions would this analysis help you make; such as buying stocks
How much inventory was requistioned for use on job : During the year the company purchased $ 122000 of materials, however paid for only $ 117000. How much inventory was requistioned for use on job during 2020
What is the expected return for the following stock : What is the expected return for the following stock
Calculate the market value of the equity : In terms of the Equity Beta of the firm, this is currently calculated at 0.82. Calculate the Market Value of the Equity
Calculate the break-even point in unit and monetary value : ABC Technology makes tablet computers which it sells for £52 per unit. Calculate the break-even point in unit and monetary value
Concepts of global economic environments : There were many concepts of Global Economic Environments presented in the world. Thinking from a company's perspective, why is a thorough knowledge of a country

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Compute the unit manufacturing costs for each model

If the company uses the predetermined overhead approach to apply manufacturing overhead. Compute the unit manufacturing costs for each Model.

  Prepare journal entries for payroll and payroll taxes

Payroll and Payroll Taxes The payroll of the Rand Company on December 31 of the current year is as follows: 1) Total Payroll, $500,000 2) Payroll in excess of $100,000 to each employee, $350,000 3) Payroll in excess of $7,000 to each employee, $400,0..

  Compute for the accounting rate of return

JRM company, The machine is estimated to have a useful life of 12 years and zero salvage value. Compute for the accounting rate of return

  What do results suggest as a general rule for approaching

The Ontario Lottery corporation has given you two options on how to collect. What do your results suggest as a general rule for approaching such problems?

  Determine if jane is exempt or non-exempt under the flsa

Determine if Jane is exempt or non-exempt under the FLSA. For the week in question, determine how many hours she worked. Is she eligible for overtime pay?

  What is the amount of the overhead unde absorbed

What is the amount of the overhead under-/over-absorbed? Budgeted overheads $493,200. Budgeted machine hours 10,960. Actual machine hours 10,493

  Describes costs assigned to the product

Describes costs assigned to the product under the variable costing method?Direct labor, direct materials, and variable manufacturing overhead.

  What information would consider relevant to the decision

What information above would you consider relevant to the decision? Why? A friend has informed you of a part-time job for which you are well-qualified.

  Discuss the relevance of management accounting theories

Identify and discuss the relevance of management accounting theories in explaining these determinants and the consequences of MAPs in organisations.

  Develop divisional balanced scorecards for unique divisions

To minimize common measures bias when developing divisional balanced scorecards for unique divisions within a corporation,each division must focus equally

  Compute the direct material cost and the conversion cost

Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory.

  What should they calculate the predetermined overhead rate

Mcvey recomputes its predetermined overhead rate every month. What should they calculate the predetermined overhead rate for June to be

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