Answer:
$1,700
Explanation:
Given that,
Purchase of raw materials inventory = $1,000
Assignment of raw materials inventory to Job 5 = $500
Payroll for 20 hours with $1,000 assigned to Job 5
Factory utility bills = $750
Overhead applied at the rate = $10 per hour
Cost assigned to Job 5 at the end of the week:
= Raw materials inventory to Job 5 + Labor cost + Manufacturing Overhead applied
= $500 + $1,000 + ($10 per hour × 20 hours)
= $500 + $1,000 + $200
= $1,700
Answer:
C. Retained earnings increased $28,200 during 2018.
Explanation:
Total liabilities = Total assets - Total equities
= $217,000 - $123,000
= $94,000
Common stock as at December 31, 2018 = Total equity - Total retained earnings
= $123,000 - $83,000
= $40,000
Retained earnings at year end =
Opening retained earnings + net income - dividend paid
$83,000 = Opening retained earnings + $33,900 - $5,700
$83,000 = Opening retained earnings + $28,200
Opening retained earnings = $54,800
Change in retained earnings = Closing retained earnings - Opening retainer earnings
= $83,000 - $54,800
= $28,200
Therefore, Option 'C' is the correct option.
Answer:
B) $4,200; $4,800
Explanation:
total delivery expense = $9,000
Dept. Y Dept. X
direct expenses $1,000 $0*
indirect expenses ($8,000 x 40%) ($8,000 x 60%)
<u> $3,200 $4,800 </u>
total delivery expenses $4,200 $4,800
*Since no direct delivery expenses were generated by Dept. X, no amount should be allocated. Indirect expenses are allocated based on the percent generated by each department.
