Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $19,525 Direct labor 25,290 Factory overhead 30,701 Work in process inventory, March 1 20,793 Work in process inventory, March 31 20,777 Finished goods inventory, March 1 24,302 Finished goods inventory, March 31 27,574
Answers
The cost of goods manufactured for Zoe Corporation for the given information will be $75,532; whereas, cost of goods sold will be $72,260.
What is the cost of goods manufactured?Cost of goods manufactured is the cost that is derived in totality of the beginning work in process and direct costs incurred, less the closing works in process.
The calculation of the costs of goods manufactured will be,
Cost of Goods Manufactured= Beginning WIP + Direct Costs + Overhead Costs – Closing WIP
Cost of Goods Manufactured= 20793 + 19525 + 25290 + 30701 – 20777
Cost of Goods Manufactured= $75532
Similarly, the cost of goods sold will be calculated as,
Cost of Goods Sold = Cost of Goods Manufactured + Beginning Inventory – Closing Inventory
Cost of Goods Sold = 75,532 + 24,302 – 27,574
Cost of Goods Sold = $72,260
Hence, the cost of goods manufactured and the cost of goods sold are calculated as above. The complete question has been added as an image for better reference.
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Related Questions
On June 1, 2020, Sandhill Company sells $196,000 of shelving units to a local retailer, ShopBarb, which is planning to expand its stores
in the area. Under the agreement, ShopBarb asks Sandhill to retain the shelving units at its factory until the new stores are ready fo
installation. Title passes to ShopBarb at the time the agreement is signed. The shelving units are delivered to the stores on September
1, 2020, and ShopBarb pays in full. Prepare the journal entries for this bill-and-hold arrangement (assuming that conditions for
recognizing the sale as a bill-and-hold sale have been met) for Sandhill on June 1 and September 1, 2020. The cost of the shelving units
to Sandhill is $109,000.
Answers
The journal entries for this bill-and-hold arrangement for Sandhill Company on June 1 and September 1, 2020, are as follows:
June 1, 2020:
Debit Cash $196,000
Credit Sales Revenue $196,000
September 1, 2020: No journal entry is required
Debit Cost of goods sold $109,000
Credit Inventory $109,000
What is a bill-and-hold arrangement?A bill-and-hold arrangement is a revenue recognition method that records revenue before the delivery of goods to the customer.
Transaction Analysis:June 1, 2020: Cash $196,000 Sales Revenue $196,000
September 1, 2020:
Cost of goods sold $109,000 Inventory $109,000
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A financial plan is mostly influenced by retirement income work life balance priorities and goals race and gender
Answers
A financial plan is mostly influenced by priorities and goals. Hence, Option C is correct.
What is a financial plan?A plan, which is a kind of evaluation of an individual's current pay and future financial state. Evaluation, which is done by using current and future financial variables, is called financial plan.
And a financial plan is an estimation of the required capital. Prioritizing financial goals is also important when doing financial planning. It will help in aligning goals with plans.
Thus, a financial plan is mostly influenced by priorities and goals. Hence, Option C is correct.
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Hat Tricks Company (HTC) is a Buffalo, New York, manufacturer of hats and gloves. Recently, the company purchased a new machine to aid in producing the hat product lines. Production efficiency on the new machine increases with the workforce experience. It has been shown that as cumulative output on the new machine increases, average labor time per unit decreases up to the production of at least 3,200 units. As HTC’s cumulative output doubles from a base of 100 units produced, the cumulative average labor time per unit declines by a learning rate of 80%.
HTC has developed a new style of men’s hat to be produced on the new machine. One hundred of these hats can be produced in a total of 20 labor hours. All other direct costs to produce each hat are $19 per hat, excluding direct labor cost. Direct labor cost per hour is $60. Fixed costs are $8,000 per month, and HTC has the capacity to produce 3,200 hats per month.
Answers
The selling price per hat is mathematically given as
S=$62
What is the selling price per hat?Direct labor hours required to produce first 100 hats=10hr
Direct labour cost =20hr*60$/hour = $1200
Other Direct cost =100hats*19$/hat = $1900
Total Direct cost. = $3100
Selling price is 200% of Direct production cost
$3100*200% = $6200
The selling price per hat = $6200 / 100hats
The selling price per hat = $62
In conclusion, The selling price per hat = $62
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NASA is conducting an experiment to find out the fraction of people who black out at G forces greater than 6. Step 2 of 2 : Suppose a sample of 502 people is drawn. Of these people, 140 passed out. Using the data, construct the 85% confidence interval for the population proportion of people who black out at G forces greater than 6. Round your answers to three decimal places.
Answers
The confidence interval is given as 0.250 and 0.308
How to solve for the confidence interval?
n = 502
x = 140
x/ n = proportion
= 140/502
= 0.2789
To find the proportion using 85%
1-0.85 = 0.15
0.15/2 = 0.075
Find the z value to be 1.44
[tex]p +- z*\sqrt{p'(1-p')/n\\}\\ = 0.279 +-1.44\sqrt{0.279(1-0.279)/502}[/tex]
= 0.279 +- 0.029
= 0.250, 0.308
Hence the confidence interval is 0.250, 0.308.
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Which of the following is an example of a human resource?
a.) Indoor and outdoor furniture available for customers to enjoy the
O
atmosphere
b.) The manager of Tarheel Coffee, who oversees the day-to-day operations
O
Oc.) Cash used to pay monthly operating expenses at each location
d.) An idea for a new summer drink that will be unique to Tarheel Coffee's
O
menu
Answers
Given
Principal = $11,500,
Interest Rate = 10%
Time = 240 days (use ordinary interest)
Partial payments:
On 100th day, $6,000
On 180th day, $3,500
a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Answers
Total interest=$489.58
Balance after 100th day=$5,819.44
Balance after 180th day=$2,448.77
Final payment=$2,489.58
Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?
In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.
Interest=loan balance*interest rate*number of days that interest is due/360 days
Interest on 100th day=$11,500*10%*100/360
Interest on 100th day=$319.444444
balance after 100th day=initial principal+ interest-partial payment
balance after 100th day=$11,500+$319.444444 -$6,000
balance after 100th day=$5,819.444444
Note it has been 80 days since the payment of the last interest on 100th
interest on 180th day=$5819.444444 *10%*80/360
interest on 180th day=$129.320988
balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500
balance of the loan on the 180th day=$2,448.765432
The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)
final interest=$2,448.765432*10%*60/360
final interest =$40.812757
Final payment=$2,448.765432+$40.812757
Final payment=$2,489.58
Total interest=$319.444444+$129.320988+$40.812757
Total interest=$489.58
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Proposal Research for digital planners
Answers
Answer:
Digital media planners are responsible for developing and executing digital media strategies. This typically includes negotiating and acquiring advertising space across digital media platforms; monitoring, optimizing, and reporting on campaign performance; managing budgets, and liaising with clients.
1. As a manager at Starbucks, Sarah Brynski hires, schedules, and oversees employees. She must also make sure each is paid the correct amount. Occasionally, she authorizes overtime when a scheduled employee does not show up. However, she tries to use as little overtime as possible to help control costs. A tire installer at the Tire Center is paid $10.50 per hour for an 8-hour day or $3.20 per tire installed, whichever is higher. Find the weekly earnings for an employee having the following rate of production. Monday 32 tires Tuesday 24 tires Wednesday 34 tires Thursday 22 tires Friday 33 tires
Answers
The weekly earnings of this employee would be $358 per tire installed and $420 per total weekly hour per spent.
SolutionTo get the total weekly earnings per tire installed, we simply employ multiplication. That is, we multiply, $3.20 * per tire installed daily and then sum up the total for the 5 days work period.
Monday: 32 * $3.2 = $102.4Tuesday: 24 * $3.2 = $76.4Wednesday: 34 * $3.2 = $108.8Thursday: * $3.2 = $70.4Friday: 33 * $3.2 = $105.6Total: $358
Meanwhile, we get the total weekly earnings using the "per hour for an 8-hour day" calculation by multiplying by 5 days.
8 *5 = 40
40 hours per week * $10.50 per hour = $420
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Who is authorized to inspect a scaffold?
Answers
Answer:
Competent person
Explanation:
OSHA requires the general contractor in section 1926.451(f)(3) to have scaffolds and scaffold components inspected for visible defects by a competent person prior to each work shift and after any occurrence which could affect a scaffold's structural integrity.
Answer:OSHA
According to 2 sources
Posted on June 29, 2017 by Trekker Group As you know, OSHA requires that a competent person inspect all scaffolds before each shift when it will be used and after any circumstances or events that could potentially affect their integrity.
what are two signifcant reasons why a particular objective or target my not ba attained as planned?
Answers
There are many reasons why a target is not achieved as they are planned:
Flexibility is hindered by plans.Ideas are stifled by plans.Planning averts action.What is Planning?Idea organization into doable actions is the process of planning. Strategic planning, tactical planning, operational planning, and contingency planning are the four main subcategories of planning. An organization's aims and objectives are determined through the process of strategic planning.
Thus, An organization's aims and objectives are determined through the process of strategic planning. But sometimes planning creates an obstacle while achieving the target because planning averts the action, and planning makes the process rigid.
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Low-risk investments tend to generate what kind of investment income and wealth?
a) Low amounts
b) Low and volatile amounts
c) High amounts
d) Stable amounts
For this question I chose: a) low amounts
Answers
Low-risk investments typically produce low levels of investment income and wealth. Option a is correct.
What is understood by Low-risk investments?Low risk investments are that type of investment that are harmless by explanation than their opposite number. Low-risk investments typically generate little investment income and wealth.
Stocks are less dangerous than derivatives. The right to purchase or exchange an asset on a limited date for a planned price at the contract date.
Therefore, option a is correct.
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What are the consequences for overs and unders in your store
Answers
Answer:
it may lead to scarcity of customers
Great Eastern Credit Union (GECU) has two operating departments (Branches and Electronic) and three service departments (Processing, Administration, and Maintenance). During July, the following costs and service department usage ratios were recorded.
Supplying Department Using Department
Processing Administration Maintenance Branches Electronic
Processing 0 50 % 0 10 % 40 %
Administration 0 0 0 60 % 40 %
Maintenance 10 % 20 % 0 20 % 50 %
Direct cost $ 86,000 $ 550,000 $ 321,000 $ 4,600,000 $ 2,300,000
The cost accountant at Great Eastern Credit Union estimates that the cost structures in its departments are as follows.
Processing Administration Maintenance Branches Electronic
Variable costs $ 65,000 $ 157,000 $ 131,000 $ 1,550,000 $ 1,450,000
Fixed costs 21,000 393,000 190,000 3,050,000 850,000
Total costs $ 86,000 $ 550,000 $ 321,000 $ 4,600,000 $ 2,300,000
Avoidable fixed costs $ 6,000 $ 279,000 $ 78,000 $ 650,000 $ 690,000
Required:
a. If GECU outsources the Processing Department, what is the maximum it can pay an outside vendor without increasing total costs?
b. If GECU outsources the Administration Department, what is the maximum it can pay an outside vendor without increasing total costs?
c. If GECU outsources the Maintenance Department, what is the maximum it can pay an outside vendor without increasing total costs?
Answers
a. If GECU outsources the Processing Department, the maximum it can pay an outside vendor without increasing total costs is $56,400.
b. If GECU outsources the Administration Department, the maximum it can pay an outside vendor without increasing total costs is $513,300.
c. If GECU outsources the Maintenance Department, the maximum it can pay an outside vendor without increasing total costs is $146,300.
What is the maximum amount to pay an outside vendor without increasing total costs?The maximum amount that a company can pay an outside vendor without increasing total costs is equal to the avoidable costs (variable and fixed).
The unavoidable fixed costs cannot be outsourced; therefore, it is irrelevant in decision-making.
Data and Calculations:Supplying Department Using Department
Processing Administration Maintenance Branches Electronic
Processing 0 50 % 0 10 % 40 %
Administration 0 0 0 60 % 40 %
Maintenance 10 % 20 % 0 20 % 50 %
Direct cost $86,000 $550,000 $321,000 $4,600,000 $2,300,000
Cost Structures:Processing Administration Maintenance Branches Electronic
Variable
costs $65,000 $157,000 $131,000 $1,550,000 $1,450,000
Fixed costs 21,000 393,000 190,000 3,050,000 850,000
Total costs $86,000 $550,000 $321,000 $4,600,000 $2,300,000
Avoidable
fixed costs $ 6,000 $ 279,000 $ 78,000 $ 650,000 $ 690,000
Avoidable
costs $71,000 $436,000 $209,000 $2,200,000 $2,140,000
Processing
cost (35,500) 35,500
Maintenance 20,900 41,800 (62,700)
Amount to pay an outside
vendor $56,400 $513,300 $146,300
Thus, Great Eastern Credit Union cannot outsource the unavoidable fixed costs of its service departments.
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lanier company manufactures expensive watch cases sold as souvenirs. three of itssales departments are retail sales, wh
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Mary Gammel's responsibility in the firm is to monitor the results of profit center because it is the key driver of the total results of the company.
What is Mary Gammel position?She is a manager in the retail sales department which is a profit center in the firm because it is saddles with role of supervising the team of sales representatives who works with customers.
Hence, Mary Gammel's role is to monitor the results of profit center because it is the key driver of the total results of the company.
Missing words "Mary Gammel is a manager in the Retail Sales Department. Determine what should be included in the responsibility report of the manager"
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Use the following chart to explain how the loan repayment period affects the total cost of the loan.
Loan Repayment Period
Principal
Interest Rate
Loan 1
$5,000
6.47 percent
$98
Monthly Payment
Loan Repayment Period 5 years
Total cost of the loan $5,866
Loan 2
$5,000
6.47 percent
$57
10 years
$6,804
Answers
Loan 1 and Loan 2 have the same principal and interest rate but different monthly payments and total loan costs, therefore, the loan repayment periods would be different.
What is the loan repayment period?The loan repayment period refers to the time it takes to repay a loan.
When the amount being repaid is smaller, the loan repayment period tends to be longer, and vice versa.
Data and Calculations:
Loan Repayment Principal Interest Rate Monthly Total cost
Period Payment of the loan
Loan 1 5 years $5,000 6.47 percent $98 $5,866
Loan 2 10 years $5,000 6.47 percent $57 $6,804
Thus, the loan repayment periods are affected by the monthly payments and total costs to reflect the loan terms.
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Too little of a good or service is produced when there is a
Answers
..
The Tucker family has health insurance coverage that pays 80 percent of out-of-hospital expenses after a deductible of $1,000 per person. If one family member has doctor and prescription medication expenses of $2,200, what amount would the insurance company pay?
Answers
The amount that the insurance company will pay is $960.
What is insurance?.It should be noted that insurance simply means a way that's used to manage risk.
The amount after deduction will be:
= $2200 - $1000
= $1200
The amount that the company will pay:
= 80% × $1200
= $960
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The City of Cambridge is concerned about the number of wild MIT students who will be partying on Halloween and wants to limit the number of parties in order to curb the costs of policing underage drinking and noise violations. The city has asked you to evaluate the welfare implications of policies they are considering. Think of price here as the amount of money party hosts will collect at the door from party-goers. The demand for parties is given by . The supply of parties is given by .
Find the equilibrium price and quantity in the market for Halloween parties.
Answers
Based on the demand and supply functions for the market for Halloween parties attended by MIT students, the equilibrium price is $100 and the quantity is 100.
What are the equilibrium price and quantity for Halloween parties?The equilibrium price and quantity can be found by equating supply and demand.
This gives:
Price = Quantity
Price = 300 - 2p
300 = 3 x Price
Price = 300 / 3
= $100
The quantity would also be 100 parties.
The rest of the question is:
Think of price here as the amount of money party hosts will collect at the door from party-goers. The demand for parties is given by Q =300−2p. The supply of parties is given by Q = p.
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Which of the following is NOT TRUE about life insurance applications? A The application may contain all the information that underwriting needs to approve the insured B The application is confidential communication between the producer and the insurer C Applications for life insurance are typically divided into two parts: General Information and Health History D The application more fully identifies the insured
Answers
Answer:
A
Explanation:
The application may contain all the information that underwriting needs to approve the insured
Curt’s Casting manufactures metal parts in a large manufacturing facility. Curt’s customers order 62,000 tons of castings each quarter. The facility has a practical capacity of 104,000 tons. Curt leased the current facility because it was more convenient than another new facility that had a capacity of 62,000 tons. The annual cost of the facility is $520,000. The variable cost of a casting is $6.
Required:
a. What cost per casting should the cost system report?
b. Given your answer to requirement (a), what is the cost of excess capacity?
Answers
The cost per casting that the cost system should report is $11 and the cost of excess capacity is $210,000.
Cost per castingCost per casting = Variable + Fixed
Cost per casting= $6+ ($520,000/104,000 tons)
Cost per casting=$6+$5
Cost per casting=$11
Cost of excess capacity:
Cost of excess capacity=$520,000- [($520,000/104,000 tons)×62,000 ton
Cost of excess capacity=$520,000-($5×62,000 tons)
Cost of excess capacity=$520,000-$310,000
Cost of excess capacity=$210,000
Therefore the cost per casting that the cost system should report is $11 and the cost of excess capacity is $210,000.
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Dorian owns a farm and sells potatoes to local restaurants and grocery stores. Which phrase describes this information about Dorian's business?
Supplier in the factor market
Supplier in the financial market
Consumer in the product market
Consumer in the factor market
Answers
The phrase that describes Dorian's business is she is a supplier in the factor market.(Option 1)
What is a factor market?A factor market is a market where the factors of production that are needed in the production of final goods and services are bought and sold. The potatoes sold by Dorian represents a factor of production because they are input for the restaurants.
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explain 5 advantages of transport to the business
Answers
Answer:
Explanation:
Efficient Transport. Your firm may be losing money and resources by sticking with an outdated shipping model.
Increased Customer Satisfaction.
Opportunity For Innovation.
Information On Technology Updates.
Industry-Specific Expertise.
A company's prospectus includes:
A) The company's investment options......
B) The company's guaranteed return strategy
C) The company's revenue and net worth.
D) The company's research..
Answers
Answer:
D)
Explanation:
cause they require a background of the company like the name of the company, what they do, age of the company, management experience, and the managements involvement in the buisness.
How is the annual percentage yield (APY) calculated?
Answers
Annual percentage yield (APY) refers to the rate of return. It does this via way of means of stating the actual percent of increase on the way to be earned in compound interest assuming that the money is deposited for one year.
What is the formula for Annual percentage yield (APY)?Annual percentage yield (APY) is calculated by the usage of this formula
APY= (1 + r/n )n – 1,
Here, “r” is the said annual interest rate, and “n” is the variety of compounding intervals every year.
APY is referred to as the effective annual rate or EAR.
Therefore, Annual percentage yield (APY) refers to the rate of return. It does this via way of means of stating the actual percent of increase on the way to be earned in compound interest assuming that the money is deposited for one year.
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______ is the result of low-cost producers focusing all their efforts on producing a single good or service. (Use one word for the blank.)
Answers
Specialization is the result of low-cost producers focusing all their efforts on producing a single good or service. This is further explained below.
What is Specialization ?
Generally, the process of focusing on and developing expertise in a specific topic or ability.
In conclusion, Low-cost manufacturers specialize when they concentrate all of their efforts on providing a particular commodity or service.
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Oza has established several successful products in the competitive beverage industry. Why has he been able to achieve this success when large organizations with more resources, such as Coca Cola and Pepsi, are forced to buy these new successful brands?
Answers
Oza has shown a propensity to zig when category heavyweight Gatorade zags over its seven years at Glaceau/Vitaminwater, during which time it has built the dominant brand in the enhanced water industry. Further capitalizing on the growing demand for "functional drinks" among modern consumers. This is further explained below.
What is beverage industry?Generally, The production of beverages and ready-to-drink items constitutes the beverage business (or drink industry).
In conclusion, Oza, during its seven years at Glaceau/Vitaminwater, established itself as the market leader in the enhanced water business by consistently bucking the trends set by category heavyweight Gatorade. Tapping into the expanding market for "functional beverages" among today's customers.
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6) If the owner contributes $44,900 and the owner withdraws $4,200, how much is net income (loss)?
Answers
Based on the amount the owner contributed and then withdrew, the net income (loss) is -$12,300.
What is the net income (loss)?First, find the value of ending equity:
= Ending assets - liabilities
= 62,000 - 28,000
= $34,000
Then find beginning equity:
= 25,000 - 19,000
= $6,000
The net income(loss) is:
= Equity - Owner's contribution + Withdrawals - Beginning equity
= 34,000 - 44,500 + 4,200 - 6,000
= -$12,300
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Vaughn Manufacturing had the following accounts and balances: Accounts payable $28800 Equipment $35600 Accounts receivable 5300 Land 34400 Buildings 98500 Unearned service revenue 10400 Cash 15350 Total stockholders' equity ? If the equipment was sold for $35600, what would be the total of stockholders' equity? $64400 $139550 $90650 $149950
Answers
Based on the value of the various accounts of Vaughn Manufacturing, the total stockholders' equity would be D. $149,950
What is the total stockholders' equity?First find the total assets:
= Equipment + Land + Building + Accounts receivable + Cash
= 35,600 + 34,400 + 98,500 + 5,300 + 15,350
= $189,150
Liabilities would be:
= Accounts payable + Unearned service revenue
= 28,800 + 10,400
= $39,200
Equity is:
= 189,150 - 39,200
= $149,950
Note: The sale of equipment would not affect total asset value as cash would increase when equipment decreases.
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what attributes are in a good landing experience
Answers
Answer:
Relevant and original content, Easy to navigate, Transparent about the client's business are the attributes that describe a good landing page experience. A good landing page experience means that users can quickly find the necessary information, and the provided materials are useful.
Explanation:
assume you decide to start a business and you quit your job that was paying you $60,000 a year. you pay $36,000 to the landlord
Answers
The implicit cost is $61,000.
What is the implicit cost?Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
When you decide to start the business, you forgo the amount you earned from your job and the interest you were earning.
$60,000 + 1,000 = $61,000
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