Units were transferred to the finished goods inventory

Assignment Help Financial Accounting
Reference no: EM131266442

The Blue Corporation started and completed 6,000 units during February. Blue started the month with 820 units in process (40% complete) and ended the month with 480 units in process (40% complete). How many units were transferred to the Finished Goods Inventory during February?

6,820 units.

6,340 units.

5,520 units.

6,684 units.

Reference no: EM131266442

Questions Cloud

Year-end adjustment to record bad debt expense : Wellington Corp. has outstanding accounts receivable totaling $1.27 million as ofDecember 31 and sales on credit during the year of $6.4 million. There is also a debitbalance of $3,000 in the allowance for doubtful accounts. If the company estimates ..
The efficiency variance measures : The efficiency variance measures? ________. The Finishing Department had 10,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 30,000 units were received f..
Calculate and document tax refund or payments : Tax Scenario. Use the required tax forms (1040 & Schedules) to calculate and document John and Jamie’s tax refund or payment. You can also upload a Word, Excel, or other document to show your calculations. You can omit the Earned Income Tax credit fo..
There was favorable direct labor efficiency variance : Holiday Foods is famous for its frosted fruit cake. The main ingredient of the cake is dried? fruit, which Holiday purchases by the pound. In? addition, the production requires a certain amount of direct labor. Holiday uses a standard cost? system, a..
Units were transferred to the finished goods inventory : The Blue Corporation started and completed 6,000 units during February. Blue started the month with 820 units in process (40% complete) and ended the month with 480 units in process (40% complete). How many units were transferred to the Finished Good..
Calculate overhead application rate at the begining of year : Carmen has a bakery that specializes in dog food in a variety of sizes and flavors. Carmen uses a flexible budget to forecast manufacturing overhead, which is then allocated to products based on over hours. Calculate the overhead application rate at ..
Balance sheet for accounts receivable-plant and equipment : Prepare a budgeted income statement that summarizes the activity for the two months ended March 31. Compute the amounts that would appear on the March 31 balance sheet for accounts receivable, plant and equipment (net), and retained earnings.
Preliminary ending balance in manufacturing overhead account : In 2016, the Calimari Company used a predetermined manufacturing overhead rate of $5 per machine hour. Information for the year is as follows: Indirect materials $15471 Indirect labor $13,750 Plant depreciation $4,800 Plant utilities and insurance $1..
Is this capital or operating lease : Makewell Hospital is leasing a piece of medical equipment from Medical Equipment Manufacturing (MEM) for five years. The equipment should last at least ten years with normal maintenance. Calculate the annual lease payment that MEM would charge if Mak..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Taxable income for federal income tax withholding

An employee works 50 hours (50-40 were overtime hours) during a workweek in December of 2015. He earns $9,500/month, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $109,700 during the year. He ha..

  Big boost in net operating income at the end of fiscal year

Terri Ronsin had recently been transferred to the Home Security Systems Division of National Home Products. Shortly after taking over her new position as divisional controller, she was asked to develop the division’s predetermined overhead rate for t..

  Project with profitability index-internal rate of return

Select all of the following projects which should be accepted? A project with a Profitability Index of 1.2. A project with an internal rate of Return of 12% when the discount rate is 10%

  A company acquired some land independently appraised at

a company acquired some land independently appraised at 12000 and paid for it by issuing 1000 shares of its common

  Uses the aging of accounts receivable method

Friedman Company uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the aging analysis equals $26,000. The unadjusted credit balance in the Allowance for Doubtful Accounts account is $8,400 What is ..

  Elucidate to the management of fred

Elucidate to the management of Fred how to determine whether a writeoff is permitted.

  Journal entry to record the accrual of wages

During October, Dorinirl Corporation incurred $71,300 of direct labor costs and $5,900 of indirect labor costs. The journal entry to record the accrual of these wages would include a:

  What is value-added ratio-what time does edwards arrive home

Lamar Edwards caught the flu and needed to see the doctor. Edwards called to set up an appointment and was told to come in at 1:00 P.M. Edwards arrived at the doctor's office promptly at 1:00 P.M. The waiting room had 5 other people in it. What time ..

  What are the tax results of the sale

On April 4, 2015, mexco sold stock it held as an investment. It had 300000 short term capital loss on the sale. It also sold a building, equipment, and the land under the building on July 1, 2015. Information about each asset is presented below. Mexc..

  Legal rules it prevents arguments among the partners

Partnership income and losses are usually divided on the basis of interest, salaries, and stated ratios because partners seldom contribute time and resources equally this method reflects the amount of time devoted to the partnership by the partners i..

  What happens to other years of tax-exempt bonds interest

According to Fowler (2016), "Congress added the ACE adjustment in an attempt to bring the AMT tax base close to a corporation's economic income." He goes on a few lines down to say about the rules for determining ACE where it states, what happens to ..

  What is the current price of the bonds

Today, the market interest rate on these bonds is 4.5%. What is the current price of the bonds? Are these bonds discount or premium bonds? Please explain in one line.

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