Ambo, Inc. manufactured 50,000 kilos of compound Am in 2015 at the following costs: Opening work...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ambo, Inc. manufactured 50,000 kilos of compound Am in 2015 at the following costs: Opening work in process of P88,125. Materials of P182,500 of which 90% is direct materials. Labor of P242,500 of which 93% is direct labor. Closing work in process of P67,500. Factory overhead is 125% of direct labor cost and includes indirect materials and indirect labor. The cost of goods manufactured is? Ambo, Inc. manufactured 50,000 kilos of compound Am in 2015 at the following costs: Opening work in process of P88,125. Materials of P182,500 of which 90% is direct materials. Labor of P242,500 of which 93% is direct labor. Closing work in process of P67,500. Factory overhead is 125% of direct labor cost and includes indirect materials and indirect labor. The cost of goods manufactured is?
Expert Answer:
Answer rating: 100% (QA)
I Step 1 Introduction i The following formula is used ... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
Students also viewed these accounting questions
-
The Pacific Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. In computing an overhead rate for the year, the companys...
-
In 2015, the Montpazier brewery of Bires Ronsard showed these results: Unit data in barrels Opening stock, 1 January 2015........................0 Production.....................................2 600...
-
You are the controller for Bose Inc. and have assembled the following information to support the preparation of journal entries to record Federal income tax expense/benefit for the year ended...
-
Copper Products Limited leases property on which copper has been discovered. The lease provides for an immediate payment of $472,000 to the lessor before drilling has begun and an annual rental of...
-
Three blocks are supported using the cords and two pulleys. If they have weights of WA = WC = W, WB = kW, determine the angle θ for equilibrium. Given: k = 0.25 B
-
An alpha particle (which is a helium nucleus, Q = + 2e, m = 6.64 X 10-27kg) is emitted in a radioactive decay with KE = 5.53 MeV. What is its speed?
-
Discuss the accounting conventions underpinning the statement of financial position.
-
The Farmyard Gate A gate 4.00 m wide and 2.00 m high weighs 500 N. Its center of gravity is at its center, and it is hinged at A and B. To relieve the strain on the top hinge, a wire CD is connected...
-
During the course of the unit, you completed a Project Management Plan (PMP) as part of your Group Activities. I. Discuss each of the key attributes contained in your scope statement and their...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Data cleaning is a very important step in Data Science to get meaningful analytic results or beneficial prediction outcomes. This assignment aims at helping students to develop knowledge and analytic...
-
A monopolist has total costs TC(Q) = 32 + 10Q and faces market demand Q(P) = 40-2P. Solve for monopolist's output, price, profits and consumer surplus when: (a)(5 pts) Price is unregulated. (b)(5...
-
The contribution margin ratio of Kuck Corporation's only product is 62%. The company's monthly fixed expense is $455,000 and the company's monthly target profit is $41,000. Required: Determine the...
-
For problems 5 and 6, find the sum of the series described. 5. a, 2, r=5, ^=10 6. 2+ 6+ (-18) + n=12
-
Super Challenge Problem Determined to test gravity, a student walks off the Burj Khalifa (aka really tall building) in Dubai, which is 829 m high, and falls freely. His initial velocity is zero....
-
Answer these 5 questions 1. In the private international law setting, contracts are important in answering difficult and often complicated "Choice of Law" and "Choice of Jurisdiction" questions....
-
Despite the various efforts that have been implemented by ABSA and many other financial institutions in preventing and mitigating operational risk occurrences, however, losses are still incurred....
-
Compile data on consumption and expenditures for the following categories in 30 different countries: (1) food and beverages, (2) clothing and footwear, (3) housing and home operations, (4) household...
-
Refer to the information in QS and assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on specific identification. Of the...
-
Branson Belts makes hand-crafted belts. The company budgets production of 4,500 belts during the second quarter. Each belt requires 4 direct labor hours, at a cost of $12 per hour. Prepare a direct...
-
Refer to the statement of cash flows for Google in Appendix A for the fiscal year ended December 31, 2013, to answer the following. 1. What amount of cash is used to purchase property and equipment?...
-
Explain two different approaches to account for an investment tax credit for a capital asset.
-
What kinds of differences cause a company to report taxes at a rate different than the statutory rate?
-
Toker & have used me a State Masiname or ended 3 December 2010 They asked one of the audit staff to draft the audit report and he produced this: A roost semnation on a teer be to the amount and does...
Study smarter with the SolutionInn App