Enzo Design Corporation reports the following cost information for March: Cost of Goods Manufactured $ 85 comma 000 Finished Goods Inventory, March 1 4 comma 000 Finished Goods Inventory, March 31 2 comma 700 Work-in-Process Inventory, March 1 9 comma 680 Work-in-Process Inventory, March 31 1 comma 250 Direct Labor 36 comma 000 Direct Materials Used 16 comma 900 What is the amount of manufacturing overhead incurred by the company in March?
manufacturing overhead= $23,670
Giving the following information:
Cost of Goods Manufactured $85,000
Work-in-Process Inventory, March 1 $9,680
Work-in-Process Inventory, March 31 $1,250
Direct Labor $36,000
Direct Materials Used $16,900
To calculate the manufacturing overhead we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
85,000= 9,680 + 16,900 + 36,000 + MOH - 1,250
23,670= manufacturing overhead
Which of the following tips applies to maintaining constructive relationships
The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the: A. Cost Principle. B. Going-concern assumption. C. Objectivity principle. D. Monetary unit assumption. E. Business entity assumption.
B. Going-concern assumption.
The financial statements are normally prepared on the assumption that an entity is a going concern and will continue in operation for a foreseeable future. Hence, It is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations. If such an intention or need exists, the financial statements have to be prepared on different a basis and , if so , the basis used is disclosed.
The amount of net cash flow from operating activities shown on the statement of cash flows will be O higher if the direct rather than the indirect method is used to prepare the statement
O higher if the indirect rather than the direct method is used to prepare the statement
O the same, regardless of whether the company uses the direct or indirect method to prepare the statement.
Answer: The same, regardless of whether the company uses the direct or indirect method to prepare the statement.
In indirect method, the net income is adjusted to convert the accrual accounting net income to the cash flows from operating activities. This is done by adjusting for all none cash income and expense already recognised in the statement of profit or loss account; before factoring the increase or decrease in the current asset and liabilities. While in direct method, the cash amounts received and paid by the company are listed. The major difference between direct and indirect method is that for direct, the company list out all the cash it received or paid (I.e. it doesn't reconcile it's cash by using the net income as the starting point), while in indirect method, the net income is the starting point, thereafter adjusted for non cash items and movement in current and non curse t asset and liabilities.
The reason that the fast-casual restaurant market is monopolistically competitive rather than perfectly competitive is because A. there are many firms in the market. B. products are differentiated. C. entry into the market is blocked. D. barriers to entry are very low.
B. products are differentiated
there are many firms (starbucks, seattles best, and a bunch of others), entry in to the market is not blocked, anybody can start a coffeehouse, and barriers to entry are very low. These are reasons that the market is not purely monopolistic or oligopoly. Differentiated products is the feature of monopolistic competition that applies here
How is challah bread made? If I have to dabble the recipe?
Pour yeast into warm water in a large bowl and mix until combined. Let the mixture rest for 5 minutes.
Add the sugar, salt, and additional 2 tablespoons of canola oil and mix.
Beat the egg replacement ingredients with a whisk and pour into the yeast mixture. Add the flour
Transfer the dough to a lightly floured surface and knead it until it is smooth and elastic. It should be springy.
Transfer dough to a lightly oiled bowl. Cover with a slightly damp cloth or plastic wrap and set in a warm place for 90 minutes. It should double in size.
Transfer to a lightly floured surface and cut dough into 2 equal halves. Divide each piece into 3 pieces and roll out into 10 to 12 inch ropes.
Let rise another 30 minutes
Preheat oven to 350 degrees F. Bake for approximately 25 to 30 minutes depending on your oven.
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Consider a product with a daily demand of 400 units, a setup cost per production run of $100, a holding cost per unit of $24.00, and an annual production rate of 292,000 units. The firm operates and experiences demand 365 days per year.
If a check written and paid by the bank for $638 is incorrectly recorded on the company’s books at $683, the appropriate treatment on the bank reconciliation would be to
Serguis is a member of his firm’s strategic planning team. He has identified several untapped markets that exist in other countries. His observation should be listed as a(n) ________ in SWOT analysis.
SWOT analysis is an analysis of an individual/organization strength, weakness, opportunities and threats. The untapped foreign markets identified by Serguis are opportunities that exists, if his company properly plan towards those opportunities and invest towards them, the company could gain great yield.