WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a salary of $90,000 annually and one salaried estimator who is paid $50,000 annually. The corporate office has two office administrative assistants who are paid salaries of $54,000 and $39,000 annually. The president's salary is $159,000. How much of these salaries are common fixed expenses

Answers

Answer 1

Answer:

$252,000

Explanation:

Calculation to determine How much of these salaries are common fixed expenses

Office administrative assistant $ 54,000

Office administrative assistant $39,000

President's salary $159,000

Common fixed expenses $ 252,000

($54,000+$39,000+$159,000)

Therefore How much of these salaries are common fixed expenses will be $252,000


Related Questions

Three identical units of merchandise were purchased during July, as follows: Date Product T Units Cost July 3 Purchase 1 $31 10 Purchase 1 34 24 Purchase 1 37 Total 3 $102 Average cost per unit $34 Assume one unit sells on July 28 for $48. Determine the gross profit, cost of goods sold, and ending inventory on July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) average cost flow methods.

Answers

Answer:

(a) first-in, first-out,

Cost of Sales = $31

Ending Inventory = $71

Gross Profit  = $17

(b) last-in, first-out,  

Cost of Sales = $37

Ending Inventory = $65

Gross Profit = $17

(c) average cost flow methods.

Cost of Sales = $48

Ending Inventory = $96

Gross Profit = $0

Explanation:

(a) first-in, first-out,

FIFO method assumes that the units to arrive first, will be sold first. This means cost of sales will be based on earlier (old) prices whilst inventory valuation will be on recent (new) prices.

Cost of Sales = 1 x $31 = $31

Ending Inventory = 1 x $34 + 1 x $37 = $71

Gross Profit = $48 - $31 = $17

(b) last-in, first-out,

LIFO method assumes that the units to arrive last will be sold first. This means cost of sales will be based on recent (new) prices whilst inventory valuation will be on earlier (old) prices.

Cost of Sales = 1 x $37 = $37

Ending Inventory = 1 x $34 + 1 x $31 = $65

Gross Profit = $48 - $37 = $17

(c) average cost flow methods.

This method calculates a new average unit cost with each and every purchase made. This unit cost is used to determine the cost of sales and inventory value.

Cost of Sales = 1 x $48 = $48

Ending Inventory = 2 x $48 = $96

Gross Profit = $48 - $48 = $0

You find a zero coupon bond with a par value of $10,000 and 24 years to maturity. The yield to maturity on this bond is 4.6 percent. Assume semiannual compounding periods. What is the price of the bond

Answers

Answer:

Zero-cupon bond= $3,357.14

Explanation:

Giving the following information:

Par value= $10,000

Number of years to maturity= 24*2= 48 semesters

YTM= 0.046/2= 0.023

To calculate the price of the bond, we need to use the following formula:

Zero-cupon bond= [face value/(1+i)^n]

Zero-cupon bond= [10,000 / (1.023^48)]

Zero-cupon bond= $3,357.14

career prep b spreadsheet assignment
anyone have a copy of the assignment willing to email it to me, pls don't answer if you don't have a copy you are willing to give

Answers

Answer:

no i do not have a copy or a page i also need one if you have it can you add it plz

Answer:

I dont saadly.

Explanation:

Sheridan Company traded in a manual pressing machine for an automated pressing machine and gave 437000 cash. The old machine cost $459000 and had a net book value of $324000. The old machine had a fair value of $310000. Which of the following is the correct journal entry to record the exchange assuming comercial substance?

a. Equipment 68,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000

Equipment 93,000
Cash 8,000

b. Equipment 68,000
Equipment 60,000
Cash 8,000

c. Cash 8,000
Equipment 60,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000
Equipment 101,000

d. Equipment 123,000
Accumulated Depreciation 22,000
Equipment 93,000
Cash 8,000

Answers

Answer and Explanation:

The correct journal entry is shown below

Equipment  ($310,000 + $437,000) $747,000

Loss on exchange ($324,000 - $310,000) $14,000

Accumulated depreciation ($459,000 - $324,000) $135,000

        To Equipment  $459,000  

       To Cash  $437,000

(Being the exchange is recorded)

Classify each item as an asset, liability, common stock, revenue, or expense.
a. Issuance of ownership shares.
b. Land purchased.
c. Amounts owed to suppliers.
d. Bonds payable.
e. Amount earned from selling a product.
f. Cost of advertising.

Answers

Answer:

A)Common Stock

B) Asset

C)liability

D)liability

E)Revenue

F)expenses

Explanation:

Common stock can be regarded as kind ofcorporate equity ownership, which is one of the type of security.

Asst can be regarded item or property that is been owned by a business or individual which has a value and has future benefits.

liability can be regarded as things that a business or individuals owes, this could be in terms of money.

Expense can be regarded as

type of expenditure which is been seen from the income statement, it is been subtracted from revenue

An entrepreneur uses _____ when taking money from a savings account to finance a new business.


friends and family

investors

loans

self-financing

Answers

Answer:

An entrepreneur uses Self-financing when taking money from a savings account to finance a new business.

What should be the primary objective of managers?

Answers

Answer:

to manage everything in that business

Answer:

In servant leadership, the organization recognizes employees as experts in their field and work to help them work efficiently. No matter which type of management style is used by an organization, the main objective of managers is to help employees reach company goals and maintain company standards and policies.

HOPE U UNDERSTAND

The following materials standards have been established for a particular product at Zoom Industries: Standard quantity per unit of output 6.3 pounds Standard price $15.10 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,650 pounds Actual cost of materials purchased $64,780 Actual materials used in production 7,150 pounds Actual output 890 units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month

Answers

Answer:

the material quantity variance is $23,299.30 unfavorable

Explanation:

The computation of the material quantity variance is shown below:

= (standard quantity - actual quantity) × standard rate

= (6.3 × 890  - 7,150) × $15.10

= (5,607 - 7,150) × $15.10

=  $23,299.30 unfavorable

Hence, the material quantity variance is $23,299.30 unfavorable

Assume an investee has the following financial statement information for the three years ending December 31, 2013:(At December 31) 2011 2012 2013Current assets $310,500 $416,550 $428,205Tangible fixed assets 844,500 861,450 992,595Intangible assets 75,000 67,500 60,000Total assets $1,230,000 $1,345,500 $1,480,800Current liabilities $150,000 $165,000 $181,500Noncurrent liabilities 330,000 363,000 399,300Common stock 150,000 150,000 150,000Additional paid-in capital 150,000 150,000 150,000Retained earnings 450,000 517,500 600,000Total liabilities and equity $1,230,000 $1,345,500 $1,480,800(At December 31) 2011 2012 2013Revenues $1,275,000 $1,380,000 $1,455,000Expenses 1,162,500 1,260,000 1,314,000Net income $112,500 $120,000 $141,000Dividends $37,500 $52,500 $58,500Review of pre-consolidation cost method (controlling investment in affiliate, fair value equals book value)Assume that on January 1, 2011, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable net assets had fair values that approximated their historical book values. In addition, the acquisition resulted in no goodwill or bargain purchase gain recognized in the consolidated financial statements of the investor company. Assuming that the investor company uses the cost method to account for its investment in the investee, what is the balance in the "investment in investee" account in the investor company's preconsolidation balance sheet on December 31, 2013?A. $900,000B. $750,000C. $675,000D. $1,480,800Assume that on January 1, 2011, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable net assets had fair values that approximated their historical book values. In addition, the acquisition resulted in no goodwill or bargain purchase gain recognized in the consolidated financial statements of the investor company. Assuming that the investor company uses the cost method to account for its investment in the investee, what is the balance in the "income from investee" account in the investor company's preconsolidation income statement for the year ended December 31, 2013?A. $141,000B. $82,500C. $58,500D. $112,500Assume that on January 1, 2011, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investee's identifiable net assets had fair values that approximated their historical book values, except for tangible fixed assets, which had fair value that was $150,000 higher than the investee's recorded book value. The tangible fixed assets had a remaining useful life of 10 years. In addition, the acquisition resulted in goodwill in the amount of $300,000 recognized in the consolidated financial statements of the investor company. Assuming that the investor company uses the equity method to account for its investment in the investee, what is the balance in the "income from investee" account in the investor company's pre-consolidation income statement for the year ended December 31, 2013?A. $126,000B. $82,500C. $67,500D. $141,000

Answers

Answer:

1. The balance in the "investment in investee" account in the investor company's preconsolidation balance sheet on December 31, 2013 is:

A. $900,000

2. The balance in the "income from investee" account in the investor company's preconsolidation income statement for the year ended December 31, 2013 is:

B. $82,500

3. The balance in the "income from investee" account in the investor company's pre-consolidation income statement for the year ended December 31, 2013 is:

D. $141,000

Explanation:

a) Data and Calculations:

Financial Statements for the three years ending December 31, 2013:

(At December 31)                            2011                  2012                2013

Current assets                           $310,500         $416,550         $428,205

Tangible fixed assets                  844,500           861,450           992,595

Intangible assets                           75,000             67,500             60,000

Total assets                            $1,230,000      $1,345,500       $1,480,800

Current liabilities                       $150,000         $165,000          $181,500

Noncurrent liabilities                  330,000           363,000          399,300

Common stock                            150,000           150,000           150,000

Additional paid-in capital            150,000           150,000           150,000

Retained earnings                     450,000            517,500         600,000

Total liabilities and equity     $1,230,000      $1,345,500     $1,480,800

(At December 31)       2011              2012              2013

Revenues            $1,275,000   $1,380,000    $1,455,000

Expenses               1,162,500     1,260,000        1,314,000

Net income            $112,500      $120,000         $141,000

Dividends               $37,500       $52,500          $58,500

Income retained for the current year                 $82,500

Retained income for year 2012                           517,500

Retained income for year 2013                       $600,000

Common stock                                                    150,000

Additional paid-in capital                                    150,000

Total equity                                                      $900,000

Capalbo Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 52,000 labor-hours. The estimated variable manufacturing overhead was $2.78 per labor-hour and the estimated total fixed manufacturing overhead was $1,192,360. The actual labor-hours for the year turned out to be 52,600 labor-hours. The predetermined overhead rate for the recently completed year was closest to:______.
a. $2.78
b. $25.45
c. $25.71
d. $22.93

Answers

Answer:

Predetermined overhead Absorption rate = $22.93. per labour hour

Explanation:

Predetermined Overhead absorption rate(POAR) = Estimate overhead /Estimated labour hours  

Estimated overhead = $1,192,360

Estimated labour hours =52,000 hours  

Overhead absorption rate = $1,192,360/52,000 hours =$22.93 per labour hour

Predetermined overhead Absorption rate = $22.93. per labour hour

As the supervisor at a fast-food restaurant chain you notice that Tonya, one of your most experienced cashiers, is having trouble balancing her cash register at the end of each shift. You and others have been staying past closing time to resolve the discrepancy. After observing her performance for several days, you notice she seems to be making careless mistakes, such as giving the wrong change. You wonder if she has become bored. What would be the best way to share your observations with Tonya?

Answers

Answer:

hey i see that you have been making a lot of mistakes latly are you okay

Explanation:

Try not to be rude

Sandhill Co. provides the following information about its postretirement benefit plan for the year 2020. Service cost $ 43,200 Contribution to the plan 9,100 Actual and expected return on plan assets 10,900 Benefits paid 19,100 Plan assets at January 1, 2020 101,400 Accumulated postretirement benefit obligation at January 1, 2020 321,800 Discount rate 8 % Compute the postretirement benefit expense for 2020.

Answers

Answer:

The correct answer is "58,044".

Explanation:

The given values are:

Service cost,

= $43,200

Accumulated postretirement benefit obligation,

= 321,800

Actual and expected return,

= 10,900

Discount rate,

= 8%

The interest cost will be:

= [tex]321,800\times 8 \ percent[/tex]

= [tex]25,744[/tex]

The Postretirement benefit expense will be:

= [tex]Service \ cost +Interest \ cost-Actual \ and \ expected \ return[/tex]

= [tex]43,200+25,744-10,900[/tex]

= [tex]58,044[/tex]

Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April:

a. On April 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10, n/30. The selling price of the merchandise was $3,100, and the cost of the merchandise sold was $2,225.
b. On April 1, Mathis paid freight charges of $250 cash to have the goods delivered to its warehouse.
c. On April 8, Mathis returned $800 of the merchandise which had originally cost Reece $500.
d. On April 10, Mathis paid Reece the balance due.

Required:
Prepare the journal entry to record the April 10 payment to Mathis Company.

Answers

Answer:

Mathis Company

Journal Entry:

April 10:

Debit Accounts payable (Reece Company) $2,300

Credit Cash $2,254  

Credit Cash Discounts $46

To record the payment on account.

Explanation:

1) Data and Transaction Analysis:

Mathis Company

a. April 1: Inventory $3,100 Accounts payable (Reece Company) $3,100

with credit terms of 2/10, n/30.

b. April 1: Freight-in $250 Cash $250

c. April 8: Accounts payable (Reece Company) $800 Inventory $800

d. April 10: Accounts payable (Reece Company) $2,300 Cash $2,254  Cash Discounts $46

2) The payment on April 10 is for $2,300 ($3,100 - $800).  The 2% cash discount is applied on the $2,300 to arrive at a Cash payment of $2,254 ($2,300 - $46).

The Massoud Consulting Group reported net income of $1,382,000 for its fiscal year ended December 31, 2021. In addition, during the year the company experienced a positive foreign currency translation adjustment of $380,000 and an unrealized loss on debt securities of $45,000. The company’s effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income is displayed net of tax.

Required:
Prepare a separate statement of comprehensive income for 2021.

Answers

Answer: Check attachment

Explanation:

Kindly check the attachment.

Note that:

Foreign currency adjustment will be:

= $380000 × (1 - 25%)

= $380,000 × 75%

= $380,000 × 0.75

= $285,000

Loss on debt securities:

= $45000 × (1 - 25%)

= $45000 × 75%

= $45000 × 0.75

= $33750

Employer is desperate to hire sales people. Employer conducts initial telephone interviews and offers employment immediately over the telephone. In making the offer, the employer will always inflate the guaranteed sales commissions that the employee can expect by 200-300%. A potential employee takes the job, relocates and soon realizes that she was misled in terms of compensation. Which of the following is most true? A. A claim by the employee will probably be based on promissory estoppel B. A claim by the employee will probably be based on breach of contract C. Employers are permitted to exaggerate figures to entice people to apply D. Under the doctrine of ‘caveat canem’ an employee bears the risk of being misled in the employment screening

Answers

Answer:

A. A claim by the employee will probably be based on promissory estoppel

Explanation:

Promissory estoppel doctrine refers to trying to enforce a promise. In other words, a person that makes a promise is responsible for performing it as long  as:

the promissor made a promise and the promisee acted because of it the promisee relied on the promisethe promisee suffers a loss due to the unfulfilled promise

applicable to Performance Based Logistics (PBL).
Question 1 of 8.
Which of the following provides guidance related to Product Support and Performance Based Logistics (PBL) policies? (Choose three that Apply)
DOD PBL Guidebook: A Guide to Performance Based Arrangements
DoD Instruction 5000.02, Enclosure 6 "Life Cycle Product Support"
DOD Product Support Manager Guidebook
DAG Chapter 4 "Systems Engineering"
Mark for follow up
Save / Return Later
Summary
Next >>

Answers

Answer:

jwkwkwkwj

Explanation:

nssjkswkwkwkwk....

Oriole Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2700 shares of Ayayai Company (10%) for $68850 cash. June 1 Received cash dividends of $3 per share on Ayayai stock. Oct. 1 Sold 1890 shares of Ayayai stock for $51630 less brokerage fees of $600. The entry to record the sale of the stock would include a

Answers

Answer and Explanation:

The journal entry for recording the sale of the stock is shown below:

Cash Dr ($51,630 - $600) $51,030

    To Investment ($68,850 × 1890 ÷ 2700) $48,195

    To Gain on sale of investment $2,835

(Being the sale of the stock is recorded)

Here the cash is debited as it increased the assets, the investment and gain is credited as it reduced the assets but increased the revenue

What is purpose of public relations?

Answers

Answer:

Explanation:

The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.

Answer:

Hey mate......

Explanation:

This is ur answer.....

The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.

Hope it helps!

mark me brainliest plz.....

Follow me! :)

Which of the following is an effective way to deal with change and innovation? Insist on success and punish failure. Hold closely to established methods of getting the job done. Innovate by varying existing products that are already on the market. Have flexibility and adaptability. Offer different explanations for the change to different work groups.

Answers

Answer:

Have flexibility and adaptability.

Explanation:

A radical innovation also known as the disruptive innovation is an innovative approach aimed at destroying or supplanting old business strategies and models with an invention to breakthrough and change the whole industries by creating new products.

Because workgroups develop their own subcultures, intranets build a common cultural foundation that can help unify employees in different units and locations around common company values.

An effective way to deal with change and innovation is to have flexibility and adaptability.

This ultimately implies that, an entrepreneur or business owner should be flexible and adaptive to changes in the industry, as well as developing the courage to follow his or her brilliant ideas.

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:Accounts Debit CreditCash $26,700 Accounts Receivable 15,000 Allowance for Uncollectible Accounts $ 3,600 Supplies 3,900 Notes Receivable (6%, due in 2 years) 18,000 Land 80,300 Accounts Payable 8,500 Common Stock 98,000 Retained Earnings 33,800 Totals $ 143,900 $ 143,900 During January 2021, the following transactions occur:January 2 Provide services to customers for cash, $49,100.January 6 Provide services to customers on account, $86,400.January 15 Write off accounts receivable as uncollectible, $3,300.January 20 Pay cash for salaries, $32,800.January 22 Receive cash on accounts receivable, $84,000.January 25 Pay cash on accounts payable, $6,900.January 30 Pay cash for utilities during January, $15,100.The following information is available on January 31, 2021.The company estimates future uncollectible accounts. The company determines $4,300 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)Supplies at the end of January total $950.Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.Unpaid salaries at the end of January are $34,900.1) Prepare the journal entries for transactions.2) Choose the appropriate accounts to complete the company's income statement.

Answers

Answer:

3D Family Fireworks

1. Journal Entries for Transactions:

Jan. 2 Debit Cash $49,100

Credit Service Revenue $49,100

To record services rendered for cash.

Jan. 6 Debit Accounts Receivable $86,400

Credit Service Revenue $86,400

To record services rendered on account.

Jan. 15 Debit Allowance for Uncollectible Accounts $3,300

Credit Accounts Receivable $3,300

To record uncollectible written off.

Jan. 20 Debit Salaries Expense $32,800

Credit Cash $32,800

To record payment for salaries expense.

Jan. 22 Debit Cash $84,000

Credit Accounts Receivable $84,000

To record cash collected on accounted.

Jan. 25 Debit Accounts Payable $6,900

Credit Cash $6,900

To record payment on account.

Jan. 30 Debit Utilities Expense $15,100

Credit Cash $15,100

To record utilities expense paid.

Income Statement for the month ended January 31, 2021:

Service Revenue              $135,500

Interest Revenue                    1,080

Total Revenue                 $136,580

Salaries Expense $32,800

Utilities Expense     15,100

Bad Debts Expense 1,060 48,960

Net Income                      $87,620

Explanation:

a) Data and Calculations:

Trial Balance as of January 1, 2021:

                                                                 Debit        Credit

Cash                                                       $26,700

Accounts Receivable                               15,000

Allowance for Uncollectible Accounts                   $3,600

Supplies                                                    3,900

Notes Receivable (6%, due in 2 years)  18,000

Land                                                        80,300

Accounts Payable                                                     8,500

Common Stock                                                       98,000

Retained Earnings                                                  33,800

Totals                                                $ 143,900 $ 143,900

Transaction Analysis:

Jan. 2 Cash $49,100 Service Revenue $49,100

Jan. 6 Accounts Receivable $86,400 Service Revenue $86,400

Jan. 15 Allowance for Uncollectible Accounts $3,300 Accounts Receivable $3,300

Jan. 20 Salaries Expense $32,800 Cash $32,800

Jan. 22 Cash $84,000 Accounts Receivable $84,000

Jan. 25 Accounts Payable $6,900 Cash $6,900

Jan. 30 Utilities Expense $15,100 Cash $15,100

Jan. 31 Adjustments:

Allowance for Uncollectibles:

$4,300 Allowance for Uncollectibles $860 ($4,300 * 20%)

$9,800: Allowance for Uncollectible $490 ($9,800 * 5%)

$14,100 Allowance for Uncollectible $1,350

Allowance for Uncollectibles

Account Titles               Debit    Credit

Beginning balance                    $3,600

Accounts receivable  $3,300

Bad Debts Expense                    1,060

Ending balance             1,350

Interest Receivable $1,080

Interest Revenue $1,080

Service Revenue:

Service Revenue     $49,100

Service Revenue    $86,400

Service Revenue $135,500

The Step Company has the following information for the year just ended: Budget Actual Sales in units 15,000 14,000 Sales $ 150,000 $ 147,000 Less: Variable Expenses 90,000 82,600 Contribution Margin $ 60,000 $ 64,400 Less: Fixed Expenses 35,000 40,000 Operating Income $ 25,000 $ 24,400 The Step Company's sales-price variance is: Multiple Choice $7,000 unfavorable. $7,500 unfavorable. $7,500 favorable. $7,000 favorable. $3,000 unfavorable.

Answers

Answer:

$7,000 Favourable

Explanation:

Calculation to determine what The Step Company's sales-price variance is:

Using this formula

Sales Price Variance = (Actual Sales Price – Budgeted Sales Price) * Actual Sales Volume

Let plug in the formula

Sales Price Variance=[($ 147,000÷14,000)-(150,000/15,000)]*14000

Sales Price Variance = ($10.5 – $10) * 14000

Sales Price Variance = $7,000 Favorable

Therefore The Step Company's sales-price variance is: $7,000 Favorable

The Step Company has the following information for the year just ended: Budget Actual Sales in units 15,000 14,000 Sales $ 150,000 $ 147,000 Less: Variable Expenses 90,000 82,600 Contribution Margin $ 60,000 $ 64,400 Less: Fixed Expenses 35,000 40,000 Operating Income $ 25,000 $

From the account balances listed below, prepare a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2013. Account BalancesFinished goods inventory, December 31 $42,000Factory supervisory salaries 12,000Income tax expense 18,000Raw materials inventory, December 1 12,000Work in process inventory, December 31 15,000Sales salaries expense 14,000Factory depreciation expense 8,000Finished goods inventory, December 1 35,000Raw materials purchases 95,000Work in process inventory, December 1 20,000Factory utilities expense 6,000Direct labor 70,000Raw materials inventory, December 31 19,000Sales returns and allowances 5,000Indirect labor 21,000SAMPSON MANUFACTURING COMPANYCost of Goods Manufactured ScheduleFor the Month Ended December 31, 2013Work in process, December 31 ?Direct materials Raw materials inventory, December 1 ? Raw materials purchases ? ? ? Less: Raw materials inventory, December 31 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? ?? ?Less: Work in process, December 31 ?Cost of goods manufactured ?

Answers

Answer:

$210,000

Explanation:

Preparation of a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2013

SAMPSON MANUFACTURING COMPANY

Cost of Goods Manufactured Schedule

For the Month Ended December 31, 2013

Work in process inventory,December 1 $ 20,000

Direct materials :

Raw Materials Inventory, December 1 $ 12,000

Raw Materials Purchases $95,000

Raw materials avaialble for use $ 107,000

($12,000+$95,000)

Less Raw Materials Inventory, December 31 ($ 19,000)

Raw materials used in production $ 88,000

($107,000-$19,000)

Direct labor $ 70,000

Factory (or) Manufacturing overhead :

Factory Supervisory salaries $ 12,000

Factory Depreciation expense $ 8,000

Factory Utilities expense $ 6,000

Indirect labor $ 21,000

Total Factory (or) Manufacturing overhead $ 47,000

($12,000+$8,000+$6,000+$21,000)

Total Manufacturing cost $ 205,000

($88,000+$70,000+$47,000)

Total Cost of work in process $ $225,000

($20,000+$205,000)

Less: Work in process inventory, December 31 ($ 15,000)

Cost of Goods Manufactured$210,000

Therefore The cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2013 will be $210,000

Answer:

Cost of goods manufactured 210,000

Explanation:

SAMPSON MANUFACTURING COMPANY

Cost of Goods Manufactured Schedule

For the Month Ended December 31, 2013

Raw materials inventory, December 1: 12,000

+ Raw materials purchases 95,000

Less Raw materials inventory, December 31 19,000

Materials Used   88000

Direct labor 70,000

Prime Cost: 158000

Indirect labor 21,000

Factory supervisory salaries 12,000

Factory depreciation expense 8,000

Factory utilities expense 6,000

Total Manufacturing Costs 205,000

Add Work in process inventory, December 1 20,000

Cost of goods available for manufacturing  225,000

Less Work in process inventory, December 31 15,000

Cost of goods manufactured 210,000

Add Finished goods inventory, December 1 35,000

Cost of goods available for sale 245,000

Less Finished goods inventory, December 31 $42,000

Cost of goods  sold  203,000

Sales returns and allowances 5,000  and Income tax expense 18,000 are included in the income statement

Economics

Many manufacturing companies are investing in robots to complete the work traditionally done by employees. How would this have an impact on the companies' fixed and variable costs?

Answers

Investment in robots will increase the fixed cost and reduce the variable cost.

What is the impact on fixed and variable cost?

Fixed cost is the cost that remains constant regardless of the level of output. Variable cost is the cost that is determinant on the level of output. It increases with the level of output.

Investment in robots would be expensive for the firm. This would increase the fixed cost but cost of using the robots do not depend on their output. Thus variable cost will be reduced.

On the other hand, using employees would reduce fixed cost and increase the variable cost. Employees are usually paid based on their level of output. This would increase the variable cost. There is little or no upfront cost required with employing labor. Thus fixed cost is low.

To learn more about fixed cost, please check: https://brainly.com/question/14597388

#SPJ1

Aloma, a university graduate who started a successful business, wants to start an endowment in her name that will provide scholarships to CE students. She wants the scholarship to provide $11,000 per year and expects the first one to be awarded on the day she fulfills the endowment obligation. If Aloma plans to donate $250,000, what rate of return must the university realize in order to award the annual scholarship forever

Answers

Answer:

the rate of return is 4.60%

Explanation:

The computation of the rate of return is shown below;

= Scholarship provided per year ÷ (Expected donated amount - Scholarship provided per year)

= $11,000 ÷ ($250000 - $11,000)

= $11,000 ÷ $239,000

= 4.60%

Hence, the rate of return is 4.60%

you start out with $2,000 in a savings account and save $100 a month for 10 years and the account has a 2.5% interest rate. based on that calculation how much interest would you earn? ​

Answers

Answer: 25%

Explanation:

On June 30, 2020, Pier1 Inc. issued 500 shares of $1 common stock for $15 per share. On June 30, 2020, Pier5 Inc. reacquired 100 shares of common stock at $12 per share and immediately retired the shares. On December 15, 2020, Pier5 Inc. reacquired 200 shares of common stock at $19 per share and immediately retired the shares. By what amount did retained earnings decrease as a result of the reacquisition of common stock on December 15, 2020

Answers

Answer:

DON'T USE THAT LINK ITS A MALWARE SPAM

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 400 units at $7 on January 1, (2) 600 units at $10 on January 8, and (3) 930 units at $11 on January 29. Assume 1,130 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume perpetual inventory system and sold 800 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.)

Answers

Answer:

(a) FIFO

Cost of Goods Sold  = $6,800

Ending Inventory  = $12,230

(b) LIFO

Cost of Goods Sold  = $7,400

Ending Inventory  = $11,630

(c) weighted average cost

Cost of Goods Sold  = $7,040

Ending Inventory  = $11,990

Explanation:

Perpetual inventory method ensures that cost of sales and inventory value is determined after each and every transaction.

FIFO

This method assumes that the units to arrive first, will be sold first. This means the cost of sales is based on the earlier (old) prices and inventory valuation is based on recent (later) prices.

Cost of Goods Sold = 400 x $7 + 400 x $10 = $6,800

Ending Inventory = 200 x $10 + 930 x $11 = $12,230

LIFO

This method assumes that the units to arrive last , will be sold first. This means the cost of sales is based on the recent (later) prices  and inventory valuation is based on earlier (old) prices.

Cost of Goods Sold = 600 x $10 + 200 x $7 = $7,400

Ending Inventory = 200 x $7 + 930 x $11 = $11,630

Weighted Average Cost Method

A new unit cost is calculated with each and every purchase made. This new unit cost is then used to determine the cost of goods sold and the value of inventory.

New Unit Cost - 8 jan = (400 x $7 + 600 x $10) ÷ 1,000 = $8.80

New Unit Cost - 29 jan = (200x $8.80 + 930 x $11) ÷ 1,130 = $10.61

therefore,

Cost of Goods Sold = 800 x $8.80 = $7,040

Ending Inventory = 1,130 x $10.61 = $11,990

The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a Redmond, Washington, industrial park. Listed below are some of the costs that are incurred at the company. Required: For each cost, indicate whether it would most likely be classified as direct materials, direct labor, manufacturing overhead, selling, or an administrative cost.The cost of a hard drive installed in a computer. a. Direct labor cost b. Direct materials cost c. Manufacturing overhead cost d. Selling cost e. Administrative cost

Answers

Answer: b. Direct materials cost

Explanation:

Direct materials are integral to the production of a good because they form part of the good being produced.

This is a computer company which assembles computers. Computers need a hard drive in order to function. The hard drive being installed in a computer will therefore count as a direct material because it will form part of the computer assembled.

n the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $82,700. During the year, Dinty wrote off $30,600 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,220,000, and cash collections from credit customers totaled $1,760,000.What bad debt expense would Dinty report in its first-year income statement

Answers

Answer:

the bad debt expense reported is $113,300

Explanation:

The computation of the bad debt expense that should be reported in the first year income statement is shown below:

= Allowance for uncollectible accounts + write off account receivable

= $82,700 + $30,600

= $113,300

Hence, the bad debt expense reported is $113,300

3. Simone is a marketing consultant hired to review the product sales for a new high-end barista machine line. The product line has four variations, selling in four specialty store regions. To clearly show where each variation is selling best and in which regions, she plans to provide a color-scaled chart using percentage by type and location. What is the name of the chart she will be using

Answers

Answer:

heat map

Explanation:

The map that Simone will use will be a Heat map, which is a graph that uses colors for the understanding of the information, that is, according to the color suggested by the map, it is possible to identify patterns that are desired, as in the case of the question above, where each variation sells best and in which regions.

In the heat map, each color corresponds to a value, and this tool is widely used in digital marketing, for understanding customer behaviors on websites, for example.

Other Questions
Observando el mapa que porcentaje corresponde a zonas de proteccion ambiental, ganaderia y agricultura? who approved the law of making Arnis as the National Sport of the Philippines? A. president Benigno Aquino III B. President Corazon Aquino C. President Gloria Arroyo D. president Rodrigo Duterte. Explain what happens during cell respirationPLEASE HELP I HAVE TO DO A FLIPGRID!! The concept of centralizing governmental power. In this process, large amounts of land and people come under the control of a single government. What might be the advantages to a society that centralizes its government (such as the Sui Dynasty in China) compared to a decentralized system (such as Ancient Greece)? Martina will make flower arrangements with 3 roses in each arrangement. She will use the equation y = 3x to find the total number of roses she needs. What does x represent in the equation 2|m-n2|+k3 (if k=-2,m=-7, and n=4) Which of these people would argue in favor of the elimination of the Carolina parakeet in Florida due to damage of their product? Group of answer choicesBird-watchersFarmersIndustrialistsTextile mill owners Who were the first mound builders in Georgia?a.Paleob.Woodlandc.Mississippiand.Archaic What type of angles are 2 and 7?A. Supplementary anglesB. Alternate exterior angles C. Alternate interior anglesD. Vertical angles which one is the lowest ,middle and highest between these magnification 10X30X40X please i need a answer and u will get good deeds The sum of two numbers is 52 and the difference is 12. What are the numbers? A game has 28 white balls and 12 red balls in a bag, and you will randomly select one ball from the bag. Ifthe selected ball is white, you lose $5. And, if the ball is red, you win $10. What is the expected value ofthe game? what is osmosis ANSWER FAST please help me with this How many times each day should you practice when preparing for a speech? a. 1 b. 5 c. 4 d. 3 Read this sentence from "President Richard Nixon: Re-election, Second Term, and Watergate""Such controversies all but overshadowed Nixon's other initiatives in his second term, such as the signing of the Paris peace accords ending American involvement in the Vietnam War in January 1973; two summit meetings with Brezhnev, in June 1973 in Washington and in June and July 1974 in Moscow; and the administration's efforts to secure a general peace in the Middle East following the Yom Kippur War of 1973."Knowing the words initiatives and actions are synonyms, what is the definition of initiatives?crusadesdesiresmotivationsmeasures 29. Motorcyclists must make a biggeradjustment in speed than other driverswhen This is the homework problems! How does the composer attempt to communicate with his audience?