Direct materials used is: Assume your answer to question 6 above is $400,000. To
ID: 2453175 • Letter: D
Question
Direct materials used is: Assume your answer to question 6 above is $400,000. Total manufacturing costs equal: Assume your answer to question 7 above is $850,000. Cost of goods manufactured equals: Assume your answer to question 8 above is $870,000. The cost of goods sold is: The functions of management in an organization are The major activities of managerial accounting include all of the following except; providing a basis for controlling costs by comparing actual results with planned objectives. A job order cost system would most likely be used by a(n): The formula for computing a predetermined overhead rate is: An example of a period cost, as opposed to a product cost, is:Explanation / Answer
20)
Direct material used = Beginning Raw Material + purchase - Ending Raw Material
Direct material used = 20000+400000-10000
Direct material used = $ 410000
21) Assuming Direct material used = $ 400000
Total Manufacturing Cost= Direct material used + Direct Labor + Factory Utility +Indirect Labor + +factory Depreciation
Total Manufacturing Cost= 400000+ 200000 + 75000 + 45000+180000
Total Manufacturing Cost= $ 900000
22) Assuming Total Manufacturing Cost= $ 850000
Cost of Good Manufactured = Beginning WIP + Total Manufacturing Cost - Ending WIP
Cost of Good Manufactured = 60000+850000-9000
Cost of Good Manufactured = $ 847000
23) AssumingCost of Good Manufactured = 870000
Cost of Good Sold = Begining Finished Goods +Cost of Good Manufactured -Ending Finished Goods
Cost of Good Sold = 16000+870000-20000
Cost of Good Sold = $ 866000
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