How much is the cost per machine

Assignment Help Accounting Basics
Reference no: EM131786655

Question - Madison Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2010 totaled $18,000 of materials, $9,000 of direct labor costs, and $6,000 of manufacturing overhead applied. The company ships all goods as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning work in process totaled $15,000, and the ending balance is $9,000. During the year, the company completed 40 machines. How much is the cost per machine?

a. $675

b. $975

c. $825

d. $1,200

Reference no: EM131786655

Questions Cloud

Discrepancy between existing and desired state of affairs : A problem is a discrepancy between an existing and a desired state of affairs.
Compute the current fair price of the stock : A company will pay a dividend on common stock of $2.10 per share at the end of the year. The required return on common stock (Ke) is 8%.
How much is cost of goods sold for the year : Beginning and ending work in process for 2010 are $4,000 and $5,000, respectively. How much is cost of goods sold for the year
What types of compensation or benefits would communicate : What types of compensation or benefits would communicate to you that you are personally valued by your organization?
How much is the cost per machine : Madison Inc. uses job order costing for its brand new line of sewing machines. How much is the cost per machine
Implement jit methodology : What are some websites that implement JIT methodology. For example manufacturing, automotive etc
Minimize the sum of the ordering and holding costs : How many gallons should Joe order from his supplier with each order to minimize the sum of the ordering and holding costs?
Computing the firm market value capital structure : The Dandy Doodle Corporation has 9.9 million shares of common stock outstanding, 430,000 shares of 6 percent preferred stock outstanding.
Calculate the cost of the finished goods : Manufacturing overhead applied, $60,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is

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