Solution-What is the gross profit for the month

What is the gross profit for the month

Assignment Help Cost Accounting

Reference no: EM133031475

Question - Prepare the Journal entries and answer the following questions using the Job order Costing System.

Purchased $800 Raw Materials on Credit.

The Factory requests $710 Direct Materials and $100 indirect Materials from the Raw Materials Warehouse

The Factory incurs $1300 of Direct Labor and $900 Indirect Labor

Overhead is applied at 150% of the Direct Labor Cost.

The Factory has the following Actual Overhead costs:

Depreciation $400

Other Overhead $550

Finished Goods worth $3500 are transferred to the Finished Goods Warehouse

Goods that Cost $2700 are sold for $5500.

What is the Gross profit for the month? Show your calculation.

If Selling and Administrative expenses are $2000 what is the net income?

Reference no: EM133031475

Questions Cloud

Human resources head of organization : Write a memo to all management staff pointing out the issues and seeking conformity to acceptable levels of conduct across all these behavioral issues.

Assignment on making ends meet : When Dan was hired by the owner of a small bistro, the job sounded like a good deal. Along with his salary as manager, he would receive a 20% incentive pay

Calculate the amount of each product to manufacture : Question - Scarcity Enterprise makes three products, AL, BE and OM. Calculate the amount of each product to manufacture to make a profit

Elements of the psycho-emotional hearts and minds : Argue whether both perspectives are valid and necessary for digital transformation (all syndicates)

What is the gross profit for the month : The Factory requests $710 Direct Materials and $100 indirect Materials from the Raw Materials Warehouse. What is the Gross profit for the month

Addressing the potential breach and harm : Congratulations, upon your graduation, you have been appointed as the gaming manager at one of the venues you have chosen to analyse in the first assessment.

Prepare an income statement for the game last year : The company sold 15,000 games last year at a selling price of $20 per game. Prepare an income statement for the game last year

What are the model correlation coefficient : What are the model's correlation coefficient and coefficient of determination? Interpret and discuss these values

Analyzing persuasive openings : Question 1. Analyzing Persuasive Openings: How persuasive are the following openings?

User Account

All Pages

What is the gross profit for the month

Reference no: EM133031475

Reference no: EM133031475

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT