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HGT Company initialized the accounting period with the following beginning balances: During the accounting period, the company purchased $60,000 of raw materials and ended the period with $16,000 in raw material inventory. Direct labor costs for the period were $120,000 and $36,000 of manufacturing overhead costs was allocated to work in process. There was no over or under applied overhead. Ending work in process was $82,000 and ending finished goods inventory was $35,000. Goods were sold during the period for revenue of $350,000. The amount of cost of goods manufactured (i.e., amount transferred from WIP to finished goods) would be?
What is Activity ratio Funds are invested in several assets in business to make sales and earn profits. The efficiency with which assets are managed directly affects the volume
Strategic Positioning The company must identify its strategic choices. This can be done from the firm’s objectives, which emanates from the firms mission. Strategies have to be
A company manufactures a one product. Estimated cost data regarding this product and other information for the product and the company are as follows: Sales price per unit Rs.2000
What is Direct material cost variance It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used.
Change of Technology: Changes in technology commonly leads to improvements in the efficient processing of raw material, reduce in wastages, more speedy production and higher produ
implications of applying accounting concepts wrongly
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Manufacturing cost data for Sassafras Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufa
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