Incurred manufacturing overhead

Assignment Help Accounting Basics
Reference no: EM13129754

Hopkins Manufacturing Inc.'s accounting records reflect the following inventories:

Dec. 31, 2009 Dec. 31, 2010
Raw materials inventory $ 80,000 $ 64,000
Work in process inventory 104,000 116,000
Finished goods inventory 100,000 92,000

During 2010, Hopkins purchased $760,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much is total manufacturing costs incurred during 2010 for Hopkins?

A) $992,000

B) $1,004,000

C) $988,000

D) $1,000,000

Reference no: EM13129754

Questions Cloud

Seller of the receivables : A company regularly sells its receivables to a factor who assesses a 2% service charge on the amount of receivables purchased. Which of the following statements is true for the seller of the receivables?
Organic reactions - cyclopentadiene : Organic Reactions - Cyclopentadiene, Why is cyclopentadiene monomer more stable at higher temperatures although dicyclopentadiene (dimer) is more stable at lower temperatures?
Which of error would cause the imbalance : A trial balance that has total debits of $20,000 and total credits of $24,500. Which of error would cause the imbalance?
Explain which is a better nucleophile : Which halide has he lowest boiling point? Explain your choices. (CH3)2CH2Br vs CH3CH2CH2Br c. Which is a better nucleophile? Explain our choice.
Incurred manufacturing overhead : During 2010, Hopkins purchased $760,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much is total manufacturing costs incurred during 2010 for Hopkins?
Calculate the company''s current e&p : Loon, Inc. reported taxable income of $600,000 in 2011 and paid federal income taxes of $202,000. Calculate the company's current E&P.
Explain why dichloroethene has a boiling point : Explain why dichloroethene has a boiling point of 60 degrees C while trans-dichloroethene as a boiling point of 48 degrees C. Include drawings of the structures with dipoles in your answer.
Controls and processing procedures : Describe weaknesses in internal control over information and data flows and the procedures for processing shipping notices and customer invoices, and recommend improvements in these controls and processing procedures.
Do you agree with either of these individuals : Another employee argued that a Private Purpose Trust Fund should be used for both principal and income. Do you agree with either of these individuals, or do you have a better suggestion?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Indirect labour hour calculations

In the past, TTTH Inc. allocated indirect manufacturing costs based on direct labor hours. Recently, management has decided to pilot a system of time-driven activity-based costing (TDABC) to allocate these costs. Determine the indirect labor suppor..

  Bonus now or bonus deferment in 10 years

Under the terms of his salary agreement, president Juan Rivera has an option of receiving either an immediate bonus of $40,000, or a deferred bonus of $75,000 payable in 10 years.

  Rate to generate profit

Assume that a certain nursing home has two categories of payers. Medicaid pays $65.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private-pay charges are not collected.

  Collectability of outstanding loan

Oatly is concerned about the collectability of outstanding loan and whether the trucks still exist. He thus engages Susan Virms, CPA, to count the trucks, using registration information held by Oatly.

  Journal entry to distribute rozow''s total earnings

M. Rozow of Covington Manufacturing Co. is paid at the rate of $20 an hour for an 8 hour day with time and a half for over time and double time for Sundays and holidays.

  Determining capital structure: repurchase of stock

The Tivoli Company has no debt outstanding, and its financial position is given by the following data: What would the value of the firm be after this debt-for-stock restructuring of the firm is completed? What would be the price of Tivoli's stock aft..

  Fundamental accounting equation

What happens to the fundamental accounting equation when the sole proprietor of a business invests more cash in it

  Revenue principle stating revenue

The revenue principle states that revenue should be recognized at a point when:

  Distributing sales and properties to shareholders

The corporation owns a building with a $160,000 adjusted basis and a $120,000 fair market value. The company has earnings and profits of $200,000.

  Probability and frequencies-banner mattress and furniture

The Banner Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days. The information is reported below:

  Projects having normal cash flows

Ahyee Corp. is considering two equally risky, mutually exclusive projects, both of which projects have normal cash flows. Project A has an IRR of IRR of 11%, while Project B's IRR is 14%.

  Problem related to insurance company

John's car was completely destroyed by fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. W..

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