Accounting

Schedule of cost of goods manufactured For the year ended December 31,20×2 Particulars Amount $ Amounts $ Direct material Raw material inventory, January 1 89,000 Add: Purchase of raw material 731,000 Raw material available 820,000 Less: raw material inventory, December 31 59,000 Raw material used 761,000 Direct labor 474,000 Manufacturing overhead: Indirect material 45,000 Indirect […]

Income statement For the year ended December 31, 20×1 Particulars Amount $ Amount $ Sales revenue 205,800 Deduct: cost of goods sold 170,400 Gross Margin 35,400 Deduct: Selling and administrative overheads Selling and administrative overheads 13,800 Utilities for selling and administrative offices 2,500 Other selling and administrative expenses 4,000 Depreciation on card used by sales

The balance in the manufacturing overhead account on January 31 Applied manufacturing overhead cost= 60% of the direct labor cost= 60% × $300,000= $180,000 (Credit) Actual manufacturing overhead cost= $170,000 (Debit) Balance in the manufacturing overhead account on January 31= $10,000 (Credit)   Problem 3-42   Twisto Pretzel Company Schedule of cost of Goods Manufactured

Direct materials used for manufacturing of finished goods Raw materials inventory, January 1 $133,000 Add: Raw Materials purchase during January $190,000 Total raw materials inventory available for consumption $323,000 Less: Raw materials inventory, January 31 $124,000 Raw materials used or consumed during January $199,000   The prime cost, total manufacturing cost, the cost of goods

The total manufacturing cost for January Running Head: ACCOUNTING 1 ACCOUNTING 8                   Title: ACCOUNTING Student’s Name: Institution:                             Exercise 3-23 1. Manufacturer of swimming pool chemicals- Process costing 2. Manufacturer of custom hot

ETHICS IN MENEGERIAL ACCOUNTING 4               ETHICS IN MENEGERIAL ACCOUNTING Name Institution Professor Course Running Head: ETHICS IN MENEGERIAL ACCOUNTING 1   Date According to the given scenario, the actions taken by Jack were effective since when accounting for accounting errors as per ethics of the job, on should

Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following information changes: in March there were 21,000 miles traveled and the cost was 12,430 real. The level of maintenance cost could exceed the cost. Problem 6-35 Page 263: For each of the

Predict the level of maintenance cost that would be incurred during a month when 22,000 tour miles are driven. Remember to express your answer in terms of the real). Using Y = 10,000 + 0.125x Y = 10,000 + 0.125 x (22,000) = 12,750 real Therefore, the level of maintenance cost that would be incurred

Develop a formula to express the cost behavior exhibited by the company’s maintenance cost. Let Y represent Total cost Let X represent Tour miles driven Therefore, Y = 10,000 + 0.125x Place Your Order Here!

Use the high-low method to estimate the variable cost per tour mile traveled and the fixed cost per month. Variable Cost/tour mile = (12,500 – 11,000)/(20,000 – 8,000) = 1,500 ÷ 12,000 = 0.125 per tour mile Total Cost = $12,500 Total Variable Cost = 0.125 x 20,000 = (2,500) Fixed Cost = 10,000 real