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Need help with the following, please explain the costs at each department so I can understand better. We Bake Perfect Pies Company makes fruit pies using a process cost system. The dough is made in the mixing department and then moves to the rolling department where crusts are rolled and placed into baking pans. The pans move into the filling department where fruit is placed into the crusts. The pies then move to the baking department. Once the pies have been baked, they move to packaging they are boxed and then sent to Finished Goods. During the month of October the company had sales of $83,000. Each pie sells for $10. Using the following information, determine the Gross Profit for the Month of October. Mixing Department: Beginning Balance 0 Ending inventory 1000 pies at 40% completion DM used: $1000 DL used: $800 FOH allocated: $1200 Rolling Department: Beginning Balance 1600 pies that were 70% completed with costs of $600 Pies started: 9000 Pies transferred to Filling Department: 8100 Ending Inventory was 10% completed DL used: $2338 FOH allocated: $2000 Filling Department: Beginning Balance 3000 pies that were 20% completed with costs of $7500 Ending inventory was 75% completed DM used: $16200 DL used: $3800 FOH allocated: $1975 Baking Department: Beginning Balance 0 Pies Transferred into department 7600 FOH allocated: $14160 Ending inventory: 1300 pies that were 60% completed Packaging Department: Beginning Balance: 2100 pies at 20% completion with costs of $12,600 Ending Inventory was 2000 pies at 90% completed DM used: $7875 DL used: $1945 FOH allocated: $3890 Finished Goods Department: Beginning Balance: 2600 pies with costs of $15626
All adjustments affect one balance sheet account and on income statement account. For each of these situations, Preparation of a Work Sheet, Financial Statements, and Adjusting and Closing Entries.
collison and ryder company campr has been experiencing declining market conditions for its sportswear division.
the devon motor company produces motorcycles. during aprilthe company purchased 8000 batteries at a cost of 10 per
As part of the proposed project, the German operation is required to pay an annual royalty of 500,00 to the parent company. Explain the cash flow implications of payment referred to above for the parent company.
A company has 10%, 20-year bonds outstanding with a par value of $500,000. The company calls the bonds at 96 when the unamortized discount is $24,500. Calculate the gain or loss on the retirement of these bonds.
manufacturing produces products that use a variety of components. which of the following cost drivers would be the most
An IT system is designed to ensure that management possesses the information it needs to carry out its functions through the integrated actions of.
A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:
We need to discuss what these options are, how they effect the financial reports, and which one(s) are most beneficial given various goals. Start by describing each of the options for valuing inventory.
In addition, Austin estimates that the new machine will increase the company's annual net cash inflows by $35,000. The machine will have a 12-year useful life and no salvage value.
The books of EZ Company, a calendar year taxpayer, had the following assets and related information as of December 31, 2011. EZ's policy is to record depreciation on December 31 by way of a journal entry.
What percentage interest in the pool is held by the town and the school district? Show the entry in the Investment Trust Fund to record the School District's investment in the pool.
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