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The following cost data relate to the manufacturing activities of Black Company during the just completed year: Manufacturing overhead costs: Property taxes, factory.......................................... $3000 Utilities, factory.................................................... 5000 Indirect labor........................................................ 10000 Depreciation, factory............................................. 24000 Insurance, factory................................................. 6000 Total actual manufacturing overhead costs................ 48000 Other cost incurred: Purchases of raw materials..................................... 32000 Direct labor cost................................................... 40000 Inventories: Raw materials, beginning........................................ 8000 Raw materials, ending............................................ 7000 Work in process, beginning...................................... 6000 Work in process, ending.......................................... 7500 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine hour; a total of 10,000 machine hours was recorded for the year. All raw materials ultimately become direct materials-- none are classified as indirect materials. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year.
In the past year, TVG had revenues of $3 million, cost of goods sold of $2.5 million, and depreciation expense of $200,000. What is the firm's times interest earned ratio?
If a company assigns factory labor to production at a cost of $42,000 when standard cost is $40,000, it will:
each unit of finished product requires 5 pounds of raw materials. the firms policy is to have raw material inventory on
murrays fashions sold merchandise for 38000 cash during the month of july. returns that month totaled 800. if the
Under the proportionate consolidation concept, which of the following statements is true?
franco and jason share income and losses in a 21 ratio after allowing for salaries to franco of 15000 and 30000 to
Discuss in general terms how forecasting might be used for university planning to address these specific problem areas. Include in your discussion the types of forecasting methods that might be used.
day street delis owner is disturbed by the poor profit performance of his ice cream counter.nbsp he has prepared the
Does a corporation recognize a gain or loss when it distributes property as a dividend or in a redemption? My text just goes on and on regarding these topics. Is there a reference on the above that is more concise?
the west division of cecchetti coporation had average operating assets of 240000 and net operating income of 42200 in
Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1050 per week, her employment agreement provides for overtime pay at an extra half-rate for hours workded over 40.
if a company had net income of 1526875 a times interest earned ratio of 4 a tax rate of 25 and operating income of
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