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1 year ago

The following information is available for Elliot Company.

Business

1 answer:

jeka941 year ago

7 0

Answer:

The cost of goods manufactured is $557,300

Explanation:

In order to calculate the cost of goods manufactured we would have to make the following calculation:

cost of goods manufactured=Work in process inventory 1/1+Total manufacturing costs-Work in process 12/31

Work in process inventory 1/1)= $13,500

Total manufacturing costs=Direct materials used+Direct labor+Manufacturing overhead

Total manufacturing costs=166000+220000+180000=$566,000

Work in process 12/31=$22,200

Cost of goods manufactured=$13,500 +$566,000 -$22,200

Cost of goods manufactured= $557,300

The cost of goods manufactured is $557,300

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Shirts.com makes business dress shirts. The shirts could have defects in various ways including in the weave or color of the fab

fredd [130]

Answer: c.) Yes, the process is in control.

Explanation:

For the process to be in control, the number of defects have to be between the Upper Control Limit and the Lower Control limits of the c-chart which can be used to measure defects of irregularities per unit.;

UCL = C-bar + z*√(c-bar)

LCL = C-bar - z*√(c-bar)

C - Bar = $\frac{Number of Dfects}{Number of shirts}$

C - Bar = $\frac{4+6+3+1+5+6+4+6}{8}$

C - Bar = 4.375

z = 3 when using the 3 sigma control

UCL = C-bar + z*√(c-bar)

UCL = 4.375 + 3 * √(4.375)

UCL = 10.65

LCL = C-bar - z*√(c-bar)

LCL = 4.375 - 3 * √(4.375)

LCL = -1.9

LCL = 0 (Lower limit minimum should be 0 at least)

Defects are within the control limits. The process is in control.

6 0

1 year ago

At an activity level of 8700 machine-hours in a month, Falks Corporation's total variable production engineering cost is $728,19

Jobisdone [24]

Answer:

$109.80 per unit

Explanation:

For we to be able to calculate the or solve the problem, we are to use the following method

Firstly

Variable cost per unit = $728,190 ÷ 8,700 units

Variable cost per unit = $83.70 per unit

Secondly

Fixed cost per unit at 8,900 units = $232,290 ÷ 8,900 units

Fixed cost per unit = $26.10 per unit

Lastly

Total cost = Variable cost + Fixed cost

Which we have as;

Total cost = $83.70 per unit + $26.10 per unit

Total cost = $109.80 per unit

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1 year ago

Read 2 more answers

Robinson Company purchased Franklin Company at a price of $2,500,000. The fair market value of the net assets purchased equals $

Fed [463]

Answer:

Explanation:

Goodwill is defined as the excess in amount of the purchase price of a company over the fair value at acquisition.It is intangible in nature , meaning it can not be physically separated from the other assets. Example are patent , brand name , good employee relation.

Goodwill calculation

Purchase price - $2,500,000

Fair value - $1,800,000

Goodwill - $700,000

Under the IAS 36, impairment of assets , goodwill is not amortized but annually tested for impairment as amortization is applicable to intangible assets with a definite useful life while intangible assets with indefinite useful life are annually tested for impairment to evaluate a loss in value experienced.

Under IAS 38 , Internally generated goodwill are not recognized as no related cost is incurred towards achieving a future benefit

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1 year ago

Under normal conditions (70% probability), Plan A will produce $20,000 higher return than Plan B. Under tight money conditions (

Lorico [155]

Answer:

A. ($16,000)

Explanation:

The computation of the expected value of return equal to

= (Higher return × probability rate) - (Less return - probability rate)

= ($20,000 × 70%) - ($100,000 × 30%)

= $14,000 - $30,000

= - $16,000

For computing the correct value we have to deduct the tighter money conditions from the normal conditions.

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2 years ago

Bay city mall requires its tenants to sign a lease that includes a clause releasing metro from liability in the event of monetar

Ksivusya [100]

<span>The clause is most likely unenforceable. Depending on the severablity, the contract much state what is to be held liable and what is illegal in the situation. If there are illegal provisions, there may be unenforceable actions due to the clause. </span>

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1 year ago