The following information is available for the first month

Assignment Help Accounting Basics
Reference no: EM13614836

The following information is available for the first month of operations of Korv Inc., a manufacturer of art and craft items:

Sales                                                                     775,000

Grossprofit                                                              265,000

Indirectlabor                                                            63,000

Indirectmaterials                                                      32,000

Other factoryoverhead                                              17,500

Materialspurchased                                                   303,000

Total manufacturing costs for theperiod                       620,000

Materials inventory, end ofperiod                                 35,000

Using the above information, determine the following missing amounts:

  1. Cost of goods sold
  2. Direct materials cost
  3. Direct labor cost

Reference no: EM13614836

Questions Cloud

Factory overhead is applied to jobs on the basis of : chasse homes inc. manufactures mobile homes. chasse uses ajob order cost system. the time tickets from october jobs
If you pressurize the gas at a constant temperature how : you are designing a process to store pressurized argon gas a monatomic gas. you start with 3 moles of argon at a
What is the change in temperature of the gas due to the : a container of ideal gas for which the thermal energy is given by eth 2.4 n r t is initially at pressure pi 1.0 x
Determine the amounts of factory labor costs transferred to : a summary of the time tickets for the current month
The following information is available for the first month : the following information is available for the first month of operations of korv inc. a manufacturer of art and craft
A flywheel having constant angular acceleration requires : a flywheel having constant angular acceleration requires 5.00s to rotate through 165rad . its angular velocity at the
Find the 95 confidence interval for the difference between : find the 95 confidence interval for the difference between two means based on this information about two samples.
A spacecraft is in orbit around a planet the radius of the : a spacecraft is in orbit around a planet. the radius of the orbit is 3.1 times the radius of the planet which is r
Calculate the probability of observing a sample proportion : a past issue of the journal news hamilton ohio reported on a study conducted by the kaiser family foundation regarding

Reviews

Write a Review

Accounting Basics Questions & Answers

  Employee benefits al flies for aaa airlines aaa provides

employee benefits. al flies for aaa airlines. aaa provides its employees with several fringe benefits. al and his

  Compute the quality of income ratio for each firm

Compute the quality of income ratio for each firm and what inferences can be drawn from these ratios

  How to evaluate this statement

The IRS can impose intermediate sanctions on a public charity if its gross unrelated business income exceeds 50% of its gross income, or if less than two-thirds of its net unrelated business income is used in carrying out its tax-exempt mission. ..

  The trucks will have a useful life of seven years to raise

the diamond freight company has been offered a seven-year contract to haul munitions for the government. because this

  For 2012 lbj corporation reported net income of 75000 net

for 2012 lbj corporation reported net income of 75000 net sales 750000 and weighted average shares outstanding of 7500.

  Julio exchanged his 350000 of bonds and 75000 of stock

julio exchanged his 350000 of bonds and 75000 of stock basis 10000 in calcite corporation for 50000 of stock and 375000

  Which of the following is the result of the inseparable

which of the following is the result of an inseparable relationship between business and society?a. all business

  Amount of monthly depreciation expenditure

Nelson Company purchased equipment on July 1 for $27,500 and decided to depreciate the equipment on the straight-line method over its useful life of five years. Assuming the equipment's salvage value is $3,500, the amount of monthly depreciation e..

  What is the rating of this nonprot by charity navigator or

the objective of this exercise is to familiarize you with the audited ?nancial statements and irs form 990 of a

  Dily consumption 32 to 40units per day reorder period

daily consumption 32 to 40units per day. reorder period 30 to 40 days reorder quantity 2000hours calculate maximum

  Jim was excited as he drove into the car park at floating

jim was excited as he drove into the car park at floating investments limited. the senior management meeting was

  On july 1 2014 bamazon corporation issued 1000000 of 6

on july 1 2014 bamazon corporation issued 1000000 of 6 debentures to yield 7. the entire bond issue was purchased by

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