question archive 1) Worth Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $816,000; beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $264,000
1) Worth Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $816,000; beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $264,000
Subject:AccountingPrice: Bought3
1) Worth Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $816,000; beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $264,000. Worth Company's cost of goods sold for the year is:
2)The Raw Materials Inventory account is:
a) debited for invoice costs and freight costs chargeable to the purchaser.
b) debited for purchase discounts taken.
c) debited for purchase returns and allowances.
d) a subsidiary account.
3) For Wilton Company, the predetermined overhead rate is 70% of direct labor cost. During the month, $360,000 of factory labor costs are incurred of which $100,000 is indirect labor. Actual overhead incurred was $180,000. The amount of overhead debited to Work in Process Inventory should be:
4: Greer Company developed the following data for the current year:
beginning work in process inventory: 102,000
direct materials used: 156000
actual overhead 132000
overhead applied 138000
cost of goods manuf. 675000
total manuf. costs 642000
How much is Greer Company's direct labor cost for the year?
5: Weatherspoon Company has a product with a selling price per unit of $200, the unit variable cost is $90, and the total monthly fixed costs are $300,000. How much is Weatherspoon's contribution margin ratio?
