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Wayne Company's beginning and ending inventories for the month of June were as follows: June 1 June 30Work in progress $145,000 171,000Finished Goods 85,000 78,000
Production data for the month follow:Direct labor cost incurred $200,000Direct labor hours 25,000Actual manufacturing overhead cost incurred 132,000Direct Materials 170,000
Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $5.75 per direct labor-hour. The company does not close under applied or over applied manufacturing overhead to Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?
Classification of Labour Costs This can be classified into like: a) Indirect or Direct cost b) Variable or Fixed cost c) Non controllable and controllable cost a)
On May 9th, David paid $34,500 (including sales tax) to purchase a used Audi A8 that he uses 90% of the time for business. No trade-in was involved. David uses the actual operating
Bickering Ltd Income Statement for the year ended 30 June 2012 Sales (credit) 636,10
Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only once. _____ 1. Direct costs _____ 2. Fixed costs _____ 3
A fixed cost is a cost which can't be easily identified or related to a cost per unit or activity of any kind for example a cost which remains constant when production of a service
Determine Profit by Using Absorption Costing Assuming the fixed overhead absorption rate was Ksh.3 per litre, then what would be the profit utilizing absorption costing? a)
Given the information that follows, prepare a cash budget for the XYZ Store for the first six months of 2010. All prices and costs remain constant. Sales are 90% for cre
standard hours = 5000 standard wages = Rs.3/hr actual hours worked = 5600 hrs actual wages paid = 17920
features of absorption costing
Labour Costs and Overhead costs Labour Costs Labour costs can be indirect or direct labour costs. Direct labour cost refers to wages paid to workers who such are directly
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