An analysis of the accounts of Roberts Company reveals the
following manufacturing cost data for the month ended June 30,
2020.
|
Inventory |
Beginning |
Ending |
||
| Raw materials | $ 9,660 | $ 13,620 | ||
| Work in process | 5,100 | 8,710 | ||
| Finished goods | 9,870 | 6,640 |
Costs incurred: raw materials purchases $ 57,250, direct labor $
51,410, manufacturing overhead $22,900. The specific overhead costs
were: indirect labor $ 6,160, factory insurance $ 4,610, machinery
depreciation $ 4,920, machinery repairs $ 2,230, factory utilities
$ 3,210, and miscellaneous factory costs $ 1,770. Assume that all
raw materials used were direct materials.
(a) Prepare the cost of goods manufactured
schedule for the month ended June 30, 2020.
(b) Show the presentation of the ending
inventories on the June 30, 2020, balance sheet.
In: Accounting
Complete the following cost and revenue schedule
Average
Quantity Total Marginal Total Marginal Total
Price Demanded Revenue Revenue Cost Cost Cost
$20 0 $8
$18 1 $14
$16 2 $22
$14 3 $32
$12 4 $44
$10 5 $58
$8 6 $74
$6 7 $92
$4 8 $112
$2 9 $147
a. Graph the demand, MR, and MC curves.
b. At what rate of output are profits maximized within this range?
c. What are the values of MR and MC at the profit-maximizing rate of output?
d. What are total profits at that output rate?
e. If a competitive industry confronted the same demand and costs, how much output is produced in the short run?
f. What would happen to long-run price in perfect competition?
In: Economics
The cost of ink cartridges for inkjet printers can be substantial over the life of a printer. Printer manufacturers publish the number of pages that can be printed from an ink cartridge in an effort to attract customers. A company claims that its black ink cartridge will yield 492 pages. To test this claim, an independent lab measured the page count of 42 cartridges and found the average page count to be 487.7. Assume the standard deviation for this population is 44. Using a 95% confidence interval, does this sample support the company's claim?
Select the correct choice below, and fill in the answer boxes to complete your choice.
(Round to two decimal places as needed.)
A. Yes, because the company's claim is between the lower limit of BLANK pages and the upper limit of BLANK pages for the average number of pages yielded by a single black cartridge.
B. No,because the company's claim is not between the lower limit of BLANK pages and the upper limit of BLANK pages for the average number of pages yielded by a single black cartridge.
In: Statistics and Probability
that at the beginning of 2017, Porter Airlines purchased a Bombardier Q400 aircraft at a cost of $ 25,000,000. Porter expects the plane to remain useful for five years left parenthesis 5000000 km right parenthesis and to have a residual value of $5000000. Porter expects the plane to be flown 750,000 km the first year, 1250,000 km each year during years 2 through 4, and 500000 km the last year. 1. Compute Porter's first-year depreciation on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-diminishing-balance 2. Show the airplane's carrying amount at the end of the first year under each depreciation method.
In: Accounting
What is the main problem of the Cost Conundrum article? what is is about and write a summary that shows an evidence of independent thoughts.
In: Biology
In: Accounting
| The table to the right shows the cost per ounce (in dollars) for a random sample of toothpastes exhibiting very good stain removal, good stain removal, and fair stain removal. At alpha=0.05, can you conclude that the mean costs per ounce are different? Perform a one-way ANOVA test by completing parts a through d. Assume that each sample is drawn from a normal population, that the samples are independent of each other, and that the populations have the same variances. |
Very good stain removal Good stain removal Fair
stain removal
0.33 0.64 0.34
0.35 2.76 1.16
0.41 0.60 0.60
1.51 0.98
0.48 0.75
0.51 1.34
Critical Values F=3.89
Rejection region F > 3.89
(c.) Calculate the test statistic
Decide to reject or fail to reject the null hypothesis and interpret the decision in the context of the original claim.
In: Statistics and Probability
In: Accounting
1. Which of the following is not a cost center?
2. An Investment center is responsible for:
3. A Profit center is responsible for all of the following except:
4. A cost center is responsible for which of the following?
5. Use of profit as a performance measure:
In: Accounting
A company makes and sells a single product, the variable cost of the production is $3 per unit
and variable cost of selling is $1 per unit, fixed cost totalled $600, and the selling price per unit
was $6. The company budgeted to make and sell 3 000 units in the next year.
Required
Prepare a break even chart showing the expected amount of the output and sales required to
break even.
In: Accounting