31. In applying the high-low method, what is the fixed cost? Month Miles Total Cost January 80,000...
Question:
31. In applying the high-low method, what is the fixed cost?
Month Miles Total Cost
January 80,000 $192,000
February 50,000 160,000
March 70,000 188,000
April 90,000 260,000
32. Armand Company, Inc. has $20,000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $10,000 and cost of goods sold was $50,000, how much would Armand report for the cost of goods manufactured?
33. Lunabelle Company's accounting records reflect the following inventories:
Dec. 31, 2017, Dec. 31, 2016
Raw materials inventory $310,000 $260,000
Work in process inventory 300,000 160,000
Finished goods inventory 190,000 150,000
During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. How much is Lunabelle Company's total manufacturing costs incurred in 2017?
34. Lunabelle Company's accounting records reflect the following inventories:
Dec. 31, 2017 Dec. 31, 2016
Raw materials inventory $310,000 $260,000
Work in process inventory 300,000 160,000
Finished goods inventory 190,000 150,000
During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. If Lunabelle Company's cost of goods manufactured for 2017 amounted to $1,890,000, how much is its cost of goods sold for the year?
35. Sidrox Company reported the following year-end information:
Beginning work in process inventory $1,080,000
Beginning raw materials inventory 300,000
Ending work in process inventory 900,000
Ending raw materials inventory 480,000
Raw materials purchased 960,000
Direct labor 900,000
Manufacturing overhead 720,000
How much is Sidrox Company's cost of goods manufactured for the year?
Managerial accounting
ISBN: 978-0471467854
1st edition
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin