acct 212, Cost Accounting

Assignment Help:
Cost Flow Relationships

The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:
Sales $886,900
Gross profit 239,500
Indirect labor 79,800
Indirect materials 32,800
Other factory overhead 15,100
Materials purchased 452,300
Total manufacturing costs for the period 979,100
Materials inventory, end of period 32,800

Factory overhead was applied during the year. Using the above information, determine the following missing amounts:
a. Cost of goods sold $
b. Direct materials cost $
c. Direct labor cost $

Related Discussions:- acct 212

Calculate discounted cash flow, The Integrated Management Project is to be ...

The Integrated Management Project is to be based on an organisation, a strategic business unit, or profit centre that has good potential for growth and development. The brief is to

Issues to consider when making decisions, Q. Issues to consider when making...

Q. Issues to consider when making decisions? At activity level A it can be seen from diagram that sales revenue line intersects the total cost line specifying that this is the

Calculate the direct-material price and quantity variances, Quicksilver Com...

Quicksilver Compnay has set the follwoing standards for one unit of product: Direct material Quantity: 6.2 lbs per unit Price per lb: $11 per lb Direct Labor Quantity: 6 hrs

Reconciliation of profits, Reconciliation of Profits Reconciliation of...

Reconciliation of Profits Reconciliation of profits disclosed by Financial Accounts and Costing Accounts in an interlocking system, While interlocking cost accounting system

Definitions of manufacturing concepts interstate, 3. Definitions of manufac...

3. Definitions of manufacturing concepts  Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:  Materials and supplies us

Interest earned on down payment, You sell a machine for $600,000. You allow...

You sell a machine for $600,000. You allow the client to pay 1/3 at the time of the sale and 1/3 at the end of year one and 1/3 at the end of year two. The company earns 10% on ass

Compute the manufacturing overhead, Slick Corporation is a small producer o...

Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains twelve quarts of synthetic oil. To achie

Throughput Accounting, Image Is Everything, Inc. (IIE) is located in an eme...

Image Is Everything, Inc. (IIE) is located in an emerging market. It specializes in lithographic duplication, catering to demands from the nouveau riche for reproductions of paint

Calculate actual costs of work performed, This is defined as an actual amou...

This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and

What is bad debt expense, What is bad debt expense, using the aging method ...

What is bad debt expense, using the aging method (also called the "percentage of receivables" method), given the following set of facts?   A firm has $80 of gross accounts recei

Write Your Message!

Captcha
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!

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