Question: Warner Company purchases 50 000 of raw materials on account and
Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April.
Answer to relevant QuestionsData for Warner Company are given in BE21-1. Supporting records show that (a) the Assembly Department used $24,000 of raw materials and $35,000 of the factory labor, and (b) the Finishing Department used the remainder. ...The Assembly Department for Right pens has the following production data for the current month.Materials are entered at the beginning of the process. The ending work in process units are 70% complete as to conversion costs. ...The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,600 units that are ...For Astoria Company, actual sales are $1,000,000, and break-even sales are $800,000. Compute (a) The margin of safety in dollars (b) The margin of safety ratio.In 2016, Manhoff Company had a break-even point of $350,000 based on a selling price of $5 per unit and fixed costs of $112,000. In 2017, the selling price and the variable costs per unit did not change, but the break-even ...
Post your question