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kvasek [131]
2 years ago
11

Beck Manufacturing reports the information below for 2017. Raw Materials Inventory Begin. Inv. 10,000 Purchases 45,000 Avail. fo

r use 55,000 DM used 46,500 End. Inv. 8,500 Work in Process Inventory Begin. Inv. 14,000 DM used 46,500 Direct labor 27,500 Overhead 55,000 Avail. for mfg. 143,000 Cost of goods mfg 131,000 End. Inv. 12,000 Finished Goods Inventory Begin. Inv. 16,000 Cost of goods mfg 131,000 Avail. for sale 147,000 Cost of Goods Sold 129,000 End. Inv. 18,000 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.
Business
1 answer:
Vanyuwa [196]2 years ago
5 0

Answer:

transferred out (COGM) 131,000

Cost of goods sold:       129,000

Explanation:

DM used     46,500

Direct labor  27,500

Overhead  <u>  55,000  </u>

Total:           129,000 cost added for the period

Then, we calcualte the amount transferred-out:

Beginning WIP   14,000

Cost added      129,000

Ending WIP       (12,000)

Trasferred out: 131,000 (cost of goods manufactured)

And finally, the cost of goods sold for the year:

Beginning FG    16,000

Trasferred out   131,000

Ending FG         (18,000)

COGS:              129,000

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A firm in the market for designer jeans has some degree of monopoly power. The demand curve it faces has a price elasticity of d
Andre45 [30]

Answer:

The firm's profit maximization price = $81.25

Explanation:

We are given:

Marginal cost MC = $65

Elasticity of demand ED = -5

Therefore, Using the rule of thumb pricing, we have the equation:

P = \frac{MC}{1+(1/ED)}

P = \frac{65}{1+(1/-5)}

P = \frac{65}{0.8}

P = $81.25

Therefore the firm's profit maximization price is $81.25

5 0
2 years ago
Read 2 more answers
The General Manager​ (Scenario) Michelle is the general manager of a power plant. This​ morning, she will meet with city officia
GalinKa [24]

Answer: Liaison role of management

Explanation: In simple words, liaison role of management refers to that role in which the managers works  as a bridge between two entities so they can effectively communicate with each other. This communication could be done for both internal or external purposes.

In the given case, Michelle is first trying to resolve the conflict between city members and managers and after that he will be going to address a complaint filed by an employee against a team leader.

Hence he is performing the role of liaison officer.

7 0
2 years ago
Christie and Jergens formed a partnership with capital contributions of $360,000 and $460,000, respectively. Their partnership a
Orlov [11]

Answer:

Christie's share is $104500 while Jergens share is $48500. Thus, the first option is the correct answer.

Explanation:

The appropriation of net income among the partners will be as follows,

                                              $                   $

Net Income                                          $153000

<u>Less: Salary to Partner</u>

Christie                                                  (66000)

<u>Less:Interest on Capital</u>

Christie                               36000

Jergens                              <u>46000        (82000)</u>

Remaining Profit                                     5000

<u>Distribution of Remaining Profit</u>

Christie  (5000/2 = 2500)                       2500

Jergens  (5000/2 =2500)                       <u>2500</u>

<u />

<u />

Christie's Share = 66000 + 36000 + 2500    = $104500

Jergen's share = 46000 + 2500   = $48500

5 0
2 years ago
A company's sales in year 1 were $310,000 and in year 2 were $347,500. using year 1 as the base year, the percent change for yea
Vlad1618 [11]
(347500 - 310000) ÷ 310000 × 100% =

12.0968%
8 0
2 years ago
In 2005, Anthara Inc. acquired Sathya Inc. for $1,200 million when the fair value of net assets (assets minus liabilities) of Sa
tatiyna

Answer:

$20 million

Explanation:

Data provided in the question:

Book value of assets in 2005 = $1,200 million

Fair value of assets in 2005 = $955 million

Book value of assets in 2006 = $720 million

Fair value of assets in 2006 = $700 million

Now,

Impairment Loss = Fair value - Carrying value of Net assets

or

Impairment Loss

= Fair value of assets in 2006 - book value of assets in 2006

= $700 million - $720 million

= - $20 million                [ Here, the negative sign means a loss]

Hence,

Impairment loss of $20 million

6 0
2 years ago
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