Yarra Fabrication estimates that its manufacturing overhead will be $2,265,600 in year 1. It further estimates that direct material costs will amount to $1,416,000. During July, Yarra worked on four jobs with actual direct materials costs of $64,000 for Job 0701, $56,000 for Job 0702, $75,000 for Job 0703, and $43,000 for Job 0704. Actual manufacturing overhead costs for the year were $2,420,000. Actual direct materials costs were $1,570,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates.

Titus manufacturing, inc. provided the following information for the year: purchases - direct materials $91,000 plant utilities and insurance 68,000 indirect materials 11,170 indirect labor 4270 direct materials used in production 99,000 direct labor 117,500 depreciation on factory plant & equipment 4000the inventory account balances as of january 1 are given below. direct materials $44,000 work-in-progress inventory 10,000 finished goods inventory 50,000what is the ending balance in the direct materials account? $135,000 $36,000 $110,170 $6000

What does the phrase limited liability mean in a corporate context?

On january 1, vermont corporation had 40,000 shares of $10 par value common stock issued and outstanding. all 40,000 shares has been issued in a prior period at $20.00 per share. on february 1, vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on march 1. the journal entry to record the purchase of the treasury shares on february 1 would include a credit to treasury stock for $90,000 debit to treasury stock for $90,000 credit to a gain account for $112,500 debit to a loss account for $112,500