60.1K

Verified Solution

Link Copied!

Just write the answers please

ss inventory increased by 10. Work in process inventory on December 31 of the current year is $44,000. Work in proce 60% during the year. Cost of goods manufactured amounts to $275.000. What are the total manufacturing costs incurred in the current year? a. $291,500 b. $302,000 c.$275,750 d. $233,750 11. On June 1, $40,000 of treasury bonds were purchased between interest dates. The brokerage commission was $60. The bonds pay interest at 12%, which is paid semiannually on lanuary 1 and july 1 How much interest revenue will be recorded on July 1 a. $400 b. $406 c. $2,000 d. $2,400 Department B had 3,000 units in work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710 12. The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was a. 14,365 b. 13,615 c. 12,000 d. 15,865 13. Which of the following is most associated with managerial accounting? a. must follow GAAP b. may rely on estimates and forecasts c is prepared for users outside the organization d. always reports on the entire entity Blue Ridge Marketing Inc. manufactures two products, A and 8. Presently, the company uses a single plant-wide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. The following table presents information about estimated overhead and direct labor hours Direct Labor Product Overhead Hours (di) A Painting Department Finishing Department 248,000 10,000 dlh 16 dih 4 dih 72.000 10.000 Totals

Answer & Explanation Solved by verified expert

See Answer