Required: 1. Compute prime cost and konversi cost 2. Compute inventorable cost and comersial cost 3....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Required: 1. Compute prime cost and konversi cost 2. Compute inventorable cost and comersial cost 3. Compute product cost and period cost Compute Cost of good manufactured 5. Compute the Cost of Goods Sold 6. Compute Income Statement 4. Sales WIP Desember 31 2020 WIP January 1 2020 Selling expenses Administrative expenses Income tax expense Purchase of direct materials DM December 31.2020 DM January 1 Direct labor $ 250,000 $ 35,000 $70,000 $ 10,000 $ 50,000 $ 500,000 Indirect materials used Indirect labor Other FOH $85,000 $ 10,000 Insurance expense-factory Depreciation expense-factory FG December 31.2020 FG January 1.2020 $5,000 $ 20,000 $10,000 $ 15,000 $ 12,000 $ 18,000 $ 10,000 $ 15,000 $ 10,000 Required: 1. Compute prime cost and konversi cost 2. Compute inventorable cost and comersial cost 3. Compute product cost and period cost Compute Cost of good manufactured 5. Compute the Cost of Goods Sold 6. Compute Income Statement 4. Sales WIP Desember 31 2020 WIP January 1 2020 Selling expenses Administrative expenses Income tax expense Purchase of direct materials DM December 31.2020 DM January 1 Direct labor $ 250,000 $ 35,000 $70,000 $ 10,000 $ 50,000 $ 500,000 Indirect materials used Indirect labor Other FOH $85,000 $ 10,000 Insurance expense-factory Depreciation expense-factory FG December 31.2020 FG January 1.2020 $5,000 $ 20,000 $10,000 $ 15,000 $ 12,000 $ 18,000 $ 10,000 $ 15,000 $ 10,000
Expert Answer:
Answer rating: 100% (QA)
1 Compute Prime Cost and Conversion Cost Prime CostPurchase of Direct Materials Direct Labor Prime C... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
According to the table above, f(k(6)) = 1 2 32 4 5 6 f(x) 3 4 5 6 1 2 k(x) 5 6 1 2 3 4
-
Make a sketch of the velocity of each string segment versus position for the pulse shown inFigure. v=2 cm/s 6 7 8 9 10 x, cm 1 2 3 4
-
Solve each equation in Exercises 83108 by the method of your choice. Solve each equation in Exercises 83108 by the method of your choice. 1 X + 1 x + 3 1 4
-
Suppose that a countrys annual growth rates were 5, 3, 4, 1, 2, 2, 3, 4, 6, and 3 in yearly sequence over a 10-year period. What was the countrys trend rate of growth over this period? Which set of...
-
How might you prepare the following esters using a nucleophilic acyl substitution reaction of an acid chloride? (a) CH3CH2CO2CH3 (b) CH3CHO2CH2CH3 (c) Ethyl benzoate
-
Use Gauss's law to derive an expression for the electric field outside the thin spherical shell of Conceptual Example 16.8.
-
Benger Engineerings trial balance contains the following account balances at 30 June. Required (a) Prepare the closing entries under the perpetual inventory system. Debit Credit Inventory Belinda...
-
Leslie Epstein, an employee of Bormack Manufacturing Company, prepares journal vouchers for general ledger entries. Because of the large number of voided journal vouchers caused by errors, the...
-
6. 7. 8. The reaction of sulphur in alkaline medium is given below Sais) +aOH bs2 (aq) (aq) + CS0 (aq) + H2O (1) . (Integer answer) The values of 'a' is 4.5g of compound A (MW = 90) was used to make...
-
Verify that the formal charges on nitrogen in ammonium ion and boron in borohydride ion are as shown.
-
The input-output relationship of a discrete-time LTIVC system is given by Y(n) = h(0) X(n) + h(1) X(n 1) + .. + h(k) X(n - k) The input sequence X(n) is stationary, zero mean, Gaussian with S1, j = 0...
-
Why has the foreign exchange market grown so rapidly over recent decades? Do you expect it to continue to grow rapidly?
-
How will a reduction in interest rates in the United States affect the exchange value of the dollar? An increase? How would an increase in interest rates outside the United States affect the exchange...
-
How would very low interest rates affect the funding position of DB plans? Very high interest rates? Why does the very high concentration of DB plan assets in equities contribute to swings in the...
-
Go to the Boards website and read the most recent statement issued by the FOMC. Identify the sentences that are intended to influence expectations held by the public.
-
What is the real exchange rate? Explain why economic decisions will be based more on movements in the real exchange rate than the nominal rate.
-
Ferry Boat Corporation has the following financial information: Net fixed assets: Book value: $2,500, Market value: $3,000 Net working capital: $700 Current accounts liquidated: $1,500 ABC...
-
Privitera and Freeman (2012) constructed a scale to measure or estimate the daily fat intake of participants; the scale was called the estimated daily intake scale for fat (EDIS-F). To validate the...
-
A recent article in Fortune magazine listed the following firms among the top ten most admired companies in the United States: Dell, Southwest Airlines, Microsoft, and Johnson & Johnson. Access the...
-
Refer to Problem 8.25 for Stebbins Corporation for Year 1, its first year of operations. Exhibit 8.31 shows the amounts for the Canadian subsidiary for Year 2. The average exchange rate during Year 2...
-
Sunbeam Corporation manufactures and sells a variety of small household appliances, including toasters, food processors, and waffle grills. Exhibit 3.21 presents a statement of cash flows for Sunbeam...
-
Record the following transactions for the month of January of a small finishing retailer, balance-off all the accounts, and then extract a trial balance as at 31 January 2016. 2016 Jan 1 Started in...
-
On 1 October 2016, the owner of the USS Enterprise, Mr Kirk, decides that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were: Kirk's...
-
What does this tell you about the costs and revenues that are included in the calculation of gross profit?
Study smarter with the SolutionInn App