What is the amount of prime cost added to production

Assignment Help Accounting Basics
Reference no: EM133166005

Question - Richardson & Sons purchased direct material worth $15 000 during the most recent period. At the end of the period the direct material account balance was $6 000 larger than the beginning balance. Cost of goods sold was $150 000. Overhead is applied at 50 per cent of direct labour cost. Other account balances are:

 

Beginning

Ending

Work in process

$75,000

$20,000

Finished goods

$110,000

$60,000

Required - What is the amount of prime cost added to production for the period?

Reference no: EM133166005

Questions Cloud

International and domestic marketing : Differentiate between international and domestic marketing. Evaluate marketing strategies of multinational corporations.
Comprehensive project : What competencies were you able to develop in researching and writing the course Comprehensive Project?
Why are sensitivity analysis important : It's common for analysts to perform a Sensitivity Analysis on financial forecasts. Why are Sensitivity Analysis important
How did broad trends in healthcare marketing : How did broad trends in healthcare marketing influence SouthCoast's new service development?
What is the amount of prime cost added to production : Richardson & Sons purchased direct material worth $15 000 during the most recent period. What is the amount of prime cost added to production
Cultural traits between the canada and india : Considering that Canada will do business in India by expanding Tim Hortons into India.
Strategies for moving forward and developing the eq skills : 1) Name one time in your life when your lack of one of the EQ skills made you feel embarrassed or got you into trouble at work. For example, think of someone wh
What was the amount of actual sales : If the margin of safety for Canace Company was 30%, fixed costs were $1,787,100, and variable costs were 70% of sales, what was the amount of actual sales
What are direct investment and collaborative strategies : What are Direct Investment and Collaborative Strategies. Please provide five examples. Further, what is the concept of FDI?

Reviews

Write a Review

Accounting Basics Questions & Answers

  The hughes corporation produces picture frames and is

the hughes corporation produces picture frames and is considering whether to accept a special offer from a customer in

  At the end of the current year 41980 of fees have been

at the end of the current year. 41980 of fees have been earned but have not been billed to clients. if the cash basis

  Determine the Minden Co price-to-earnings ratio

Minden Co. has current assets of $180,000 (cash, $20,000; accounts receivable, $70,000; Determine the Minden Co price-to-earnings ratio

  What is the nature of the lease

Crane signed a 10-month lease on a warehouse requiring monthly payments in advance of $22,000. What is the nature of the lease assuming Crane follows IFRS 16

  What is the minimum transfer price

What is the minimum transfer price the Netting Division should consider if operating at? capacity? Below? capacity

  Purchased additional equipment for cash

Received cash from customers billed in. Purchased additional equipment for cash. Purchased equipment on account

  Provide an example of company that has faced ethical problem

Are there any ethical problems in utilizing Cash flow statement? Please bring an example of the company that has faced ethical problems in using Cash flow statement.

  Discuss measures that may be used to assess the quality

Discuss measures that may be used to assess the quality of a firms reported earnings. Obtain an annual report for a large corporation and perform a quality.

  Assume if bags and luggage assigns manufacturing overhead

the bags and luggage company had the following account balances as of january 1 nbspnbspdirect materials

  What is the corporation taxable income for this year

For tax purposes, the corporation elected bonus depreciation for the asset. What is the corporation's taxable income for this year

  Calculate Costello deferred income tax expense or benefit

Costello received $3,850 of tax-exempt life insurance proceeds from the death of one of its officers. Calculate Costellos deferred income tax expense or benefit

  Who are the stakeholders and what is the ethical dilemma

Ebenezer is CEO of a successful small business. Who are the stakeholders and what is the ethical dilemma? Do you think Tim should go ahead and approve the loan

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