User Account

All Pages

What is the amount transferred to Finished Goods Inventory

Assignment Help Accounting Basics
Reference no: EM132636736

Problem - The accounting records of Roland Manufacturing Company include the following information:

 

Dec. 31

Jan. 1

Work in process inventory

$70,000

$50,000

Finished goods inventory

120,000

160,000

Direct materials used

350,000

 

Direct labor

220,000

 

Selling expenses

125,000

 

Manufacturing overhead is applied at a rate of 150% of direct labor cost.

Instructions - Answer the following questions:

1. What is the total of the debits to Work in Process Inventory during the year?

2. What is the amount transferred to Finished Goods Inventory during the year?

3. What is the cost of goods sold?

Reference no: EM132636736

Questions Cloud

Describe the post-military career development process : It has become very common for combat veterans to experience disabling injuries on their tours of duty. Explain what you could do in order to aid them in their.
How many newtons does baby weigh : A baby might weigh, when its born, 7pounds. Recall that 1 kg weighs about 2.2 pounds. What is the mass of this baby in kg?
Information and communication technology : The recent advances in information and communication technology (ICT) has promoted the evolution of conventional computer-aided manufacturing industry
Calculate average return for both stock and market : Calculate average return for both stock and market. Calculate Standard deviation for both. Calculate coefficient of variation for both
What is the amount transferred to Finished Goods Inventory : Manufacturing overhead is applied at a rate of 150% of direct labor cost. What is the amount transferred to Finished Goods Inventory during the year
Describe two of the unique challenges hillsborough county : What measures are being taken to maintain the supply of fresh water? What measures are being taken to maintain the supply of fresh water?
How the group will obtain a random sample of participants : Describe how the group will define operationally and measure the variables. Describe how the group will obtain a random sample of participants.
Blockchain is technology : Industry experts believe blockchain is a technology that has the potential to affect the business of most IT professionals in the next five years.
Explain the steps in the career development process : Choose between one of the hypothetical cases of Mei Lei, Lakeesha, or Vincent. With the understanding that you are a career counselor.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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