question archive The following information is available for the current year:Cost of goods sold $292,000Depreciation of factory equipment 25,200Direct labor 64,750Finished goods inventory, Beginning-year 45,000Factory insurance 11,200Factory utilities 16,800Goods transferred from Work in Process 285,150Inventory to Finished Goods InventoryIndirect labor 8,400Raw materials inventory, Beginning-year 4,200Raw materials purchased 116,200Raw materials used in production 121,800(includes $7,000 of indirect materials)Rent on factory building 22,400Discuss the results of operations for the current year and provide your recommendations for increase or decrease in the overhead rate
The following information is available for the current year:Cost of goods sold $292,000Depreciation of factory equipment 25,200Direct labor 64,750Finished goods inventory, Beginning-year 45,000Factory insurance 11,200Factory utilities 16,800Goods transferred from Work in Process 285,150Inventory to Finished Goods InventoryIndirect labor 8,400Raw materials inventory, Beginning-year 4,200Raw materials purchased 116,200Raw materials used in production 121,800(includes $7,000 of indirect materials)Rent on factory building 22,400Discuss the results of operations for the current year and provide your recommendations for increase or decrease in the overhead rate
Subject:AccountingPrice: Bought3
The following information is available for the current year:Cost of goods sold $292,000Depreciation of factory equipment 25,200Direct labor 64,750Finished goods inventory, Beginning-year 45,000Factory insurance 11,200Factory utilities 16,800Goods transferred from Work in Process 285,150Inventory to Finished Goods InventoryIndirect labor 8,400Raw materials inventory, Beginning-year 4,200Raw materials purchased 116,200Raw materials used in production 121,800(includes $7,000 of indirect materials)Rent on factory building 22,400Discuss the results of operations for the current year and provide your recommendations for increase or decrease in the overhead rate. Assume that the total sales of these products for the year, for cash and on account, was $450,000 and that costs for operating expenses, interest expenses and taxes equaled $110,000.
