User Account

All Pages

What amount of raw materials that wayne used in production

Assignment Help Managerial Accounting
Reference no: EM132511123

Question1 : Wayne Company is manufacturer of T-shirts. Wayne began the year with Raw Materials Inventory costing $60,000. During the year, additional raw materials costing $300,000 were purchased. At the end of the year, Raw Materials Inventory costing $45,000 still remained. What was the amount of raw materials that Wayne used in production?

a. $315,000
b. $300,000
C. $255,000
d. $285,000

Reference no: EM132511123

Questions Cloud

Which entry closing the manufacturing overhead account : $10,000, and it is considered a material amount, which of the following would be included in the entry closing the Manufacturing Overhead account?
Review the strategic management project background : etermine whether Caterpillar Inc.'s organizational structure is considered a traditional organizational structure or a Holacracy.
How much is the predetermined overhead rate : How much is the predetermined overhead rate (rounded to the nearest cent) Valley View Company applies manufacturing overhead
What was the predetermined overhead rate : 40,000 machine hours were used. By the end of the year, actual overhead costs were calculated to be $640,000. What was the predetermined overhead rate?
What amount of raw materials that wayne used in production : At the end of the year, Raw Materials Inventory costing $45,000 still remained. What was the amount of raw materials that Wayne used in production?
ITECH7400 IT Service Management and Professional Culture : ITECH7400 IT Service Management and Professional Culture ITSM Assignment Help and Solution - Federation University, Australia - Assessment Writing Service
What is the break-even quantity and dollars of each product : The remaining fixed costs are common and are unavoidable unless the company went out of business. What is the break-even quantity and dollars of each product
What are some of the tools used by managers : In Managerial Accounting, what are some of the tools used by managers using Cost Volume Profits (CVP) to help look at the future of the business?
Demonstrate an understanding of management accounting system : Demonstrate an understanding of management accounting system and Explain the use of planning tools used in management accounting

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Discuss the main theme of the theory

ACC706 - Discuss issues or news article related to the company and What are some of the accounting issues or problems present

  What is the confidence interval

What inferences can be made about student attendance at football games?- Using the 99% level of confidence, what is the confidence interval?

  Define the three costing methods

Define the three costing methods. Explain when each is most appropriately used. Compare and contrast the methods, considering both benefits and shortfalls.

  Prepare a summary entry that represents the net effect

Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period.

  Why do manufacturing overhead costs often shift

How does Lean Production reduce or eliminate the difference in reported net operating income between absorption and variable costing

  Prepare journal entries to record selected july transaction

Prepare journal entries to record the selected July transactions. Also prepare any footnotes to the July 31 financial statements that result from these transactions

  What would be the forecast for next years sales

What would be the forecast for next year's sales using regression to estimate a trend

  Determine what is the purpose of the nces

Determine What is the purpose of the NCES? How many schools are in the district? How many students? What is the student-teacher ratio?

  Static budget versus flexible budget

Why do you think companies make mistake of only paying close attention to the static budget? Is it just not wanting to spend the time and money?

  Prepare journal entries to record January costs

Prepare journal entries (without explanations) to record January's costs for the Augusta division. Include the purchase of materials, incurrence of labor

  Question the accountant for daily manufacturing compares

question the accountant for daily manufacturing compares each months actual results with the monthly budget.the

  Compute the per-unit factory overhead allocated to gasoline

Compute the per-unit factory overhead allocated to the gasoline and diesel engines under the multiple production department factory overhead rate method.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd