User Account

All Pages

How much direct materials was purchased

Assignment Help Managerial Accounting
Reference no: EM132571551

LINEA-VERDE customized clothing line uses normal costing for its job-costing system, which has two direct costs: Direct materials and direct manufacturing labor; in addition to one indirect cost . During 2018 the following numbers were computed: Cost of finished goods manufactured was $4,050,000, Total Manufacturing cost was $4,150,000, Work-in-process Inventory on January 1, 2018, $220,000. as for Manufacturing overhead applied, it was $2,000,000 based on a rate of 1.75 times direct manufacturing labor costs.

Question A. Calculate Direct Manufacturing Labor Cost of 2018. Show all calculations.

Question B. Calculate the cost of Direct Materials used in 2018. Show all calculations.

Question C. Calculate the WIP ending balance on December 31, 2018.

Question D. Assuming 2018, is the first year of operation for LINEA-VERDE and the balance of Direct Materials on December 31, 2018 is one fourth of DIrect MAterials used for production during the year, HOW much Direct MAterials was purchased during 2018?

Reference no: EM132571551

Questions Cloud

How to prepare the journal entry to dispose of the variance : How to Prepare the journal entry to dispose of the variance using the write-off to cost of goods sold approach. Compute the over/underapplied overhead.
Advise wong regarding his liability as a former partner : Wong retired as a partner from a firm, where he was a partner for 20 years. Advise Wong regarding his liability as a former partner
Prepare incremental analysis showing current designs : Prepare incremental analysis showing whether Current Designs should make or buy the Revolution Seating System
Estimated for stocks a and b : The index model has been estimated for stocks A and B with the following results:
How much direct materials was purchased : Direct Materials on December 31, 2018 is one fourth of DIrect MAterials used for production during the year, HOW much Direct MAterials was purchased during 2018
What is the budgeted manufacturing overhead rate : What is the budgeted manufacturing overhead rate in the Boxing department? Compute the total manufacturing overhead cost
Determine the contribution margin per machine hour : Xcelerate Productions Limited manufactures and sells three different products of different qualities. Determine the contribution margin per machine hour
Retrenchment benefits that he entitled to get : What are the factors to be considered when assessing whether cost-effectiveness or financial reasons are sufficient to constitute
Explore the ethical and sustainability issues : Critically evaluates the approach the business is currently taking to address those challenges and Critically evaluates the challenges in implementing

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd