User Account

All Pages

What was the selling price of the product

Assignment Help Financial Accounting
Reference no: EM132951059

Company A manufactures custom-made products. On January 1 the company received an order from Customer 1. The job was completed and sold in January. During the month, $45 of direct materials were requisitioned and 6.25 direct labor hours were logged for the job. The company's direct laborers are paid at a rate of $8 per direct labor hour.

  • At the beginning of the year, the company estimated total manufacturing costs of $225,000 and total direct labor hours of 75,000. Manufacturing overhead is applied to jobs based on direct labor hours logged.

Problem 1: The sales price charged to Customer 1 was cost plus 60%. What was the selling price of the product?

Reference no: EM132951059

Questions Cloud

Prepare budget for utilization of the capacity : Prepare budget for 70%, 80% and 100% utilization of the capacity if details listed above is for 100% capacity utilization
Provide an example of short-term finance : Provide an example of short-term finance, long-term finance and equity finance and briefly explain how GFC could use these to fund the organisations
Examining financial statements of the geelong football club : Statement of Cash Flows of GFC shows a positive cash flow for the year. Explain how this could happen and support your discussion with suitable examples.
Prepare a statement of financial position as at january : Additional information: A cheque of $900 issued to a tutor has not been recorded. Prepare a Statement of Financial Position as at 31 January 2021
What was the selling price of the product : Company A manufactures custom-made products. The sales price charged to Customer 1 was cost plus 60%. What was the selling price of the product?
What is cost assigned to units department ending inventory : Company A uses process costing in its manufacturing operations. What is the cost assigned to units Department 1's ending inventory?
What is the investment carrying value at december : What is the investment carrying value at December 31, 2021? On October 1, 2020, Michael Company purchased 30,000 shares of Jackson Company.
What would be the operating profit or loss : The average selling price for one of their swim trunks is $84.17. The variable cost per unit is $24.09, What would be the operating profit or loss
How much were the debt investments reported in the december : Egg Company purchased P8,000,000, 11%, 5-year bonds, At how much were the debt investments reported in the December 31, 2023 statement of financial position?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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