Business College

MC Qu. 123 The ending inventory of finished... The ending inventory of finished goods has a total cost of $9,800 and consists of 700 units. If the overhead applied to these goods is $3,726, and the overhead rate is 81% of direct labor, how much direct materials cost was incurred in producing these units

Answers

Answer 1

Answer:

$5,200

Explanation:

Given the above information,

Direct labor = $3,726 / 0.81 = $4,600

But,

Total cost = Direct material + Direct labor + Overhead

Fixing the values, we'll have

$9,800 = Direct materials + $4,600 + $3,726

Direct materials = $9,800 - $4,600

Direct materials = $5,200

Therefore $5,200 raw materials cost was incurred in producing these units.

Related Questions

You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $275,000

Answers

Answer:

To answer is 73.6 months(approximately 74 days)

Explanation:

Future value (FV) = $275,000

Annual interest rate(i) = 7%

Monthly interest rate = 0.58%(7/13)

Periodic cash outflow (PMT) = $3,000

Number of months (N) = ?

Using a texas BA II Plus calculator

FV = 275,000; PMT = -3,000; I/Y = 0.583 CPT N= 73.6

Therefore the number of months is 73.6 months. Approximately, 74 days

The Molding Department of Sunland Company has the following production data: beginning work in process 25200 units (70% complete), started into production 474000 units, completed and transferred out 449700 units, and ending work in process 49500 units (30% complete). Assuming all materials are entered at the beginning of the process, equivalent units of production for materials are:____.
a. 459150.
b. 499200.
c. 464550.
d. 449700.

Answers

Answer:

b. 499200

Explanation:

Calculation to determine what the equivalent units of production for materials are:

Using this formula

Equivalent units of production for materials=Completed and transferred out units+ Ending work in process units

Let plug in the formula

Equivalent units of production for materials=449700units+ 49500units

Equivalent units of production for materials=499200

Therefore Assuming all materials are entered at the beginning of the process, equivalent units of production for materials are:499200

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