Business, 16.06.2020 23:57 Brookwiggington8814

On January 1, Frederic Manufacturing had a beginning balance in WorkminusinminusProcess Inventory of $ 163,000 and a beginning balance in Finished Goods Inventory of $ 23,000. During the year, Frederic incurred manufacturing costs of $ 200,000. During the year, the following transactions occurred:

Job C- 62 was completed for a total cost of $143,000 and was sold for $158,000.
Job C - 63 was completed for a total cost of $183,000 and was sold for $214,000.
Job C - 64 was completed for a total cost $84,000 but was not sold as of year - end.

The Manufacturing Overhead account had an unadjusted credit balance of $24,000 and was adjusted to zero at year - end. What was the final balance in the Cost of Goods Sold account?

a. $302,000 credit balance
b. $302,000 debit balance
c. $350,000 debit balance
d. $350,000 credit balance

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 17:40

Anne is comparing savings accounts. one account has an interest rate of 1.2 percent compounded yearly, and one account has an interest rate of 1.2 percent compounded monthly. which account will earn more money in interest? the account that earns 1.2 percent compounded yearly the account that earns 1.2 percent compounded monthly

Answers: 2

Answer

Business, 22.06.2019 03:30

He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.

Answers: 3

Answer

Business, 22.06.2019 06:40

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct.d.

Answers: 2

Answer

Business, 22.06.2019 19:50

What is the present value of the following cash flow stream at a rate of 12.0%? years: 0 1 2 3 4| | | | |cfs: $0 $1,500 $3,000 $4,500 $6,000a. $9,699b. $10,210c. $10,747d. $11,284e. $11,849

Answers: 3

Answer

You know the right answer?

On January 1, Frederic Manufacturing had a beginning balance in WorkminusinminusProcess Inventory of...

Questions