(Answered) Question - truthful reporting produces two products a and

Accounting

Question - Truthful Reporting produces two products. "A" and "B".

The consumption of labor and materials, production units, and sales for the year are represented in the following table:

	Product A	Product B
DL (hours/unit)	3	10
DM (lbs/unit)	20	10
Units Produced	50	70
Units Sold	40	35
Sale Price	$250	$300

The company also incurred $3,400 of fixed manufacturing overhead to produce the two products. The company pays a wage rate of $15/hour and pays $5/lb of material. It is company policy to allocate fixed overhead on the basis of lbs of direct material. The company uses actual full absorption costing. For purposes of this problem, assume there are no other non-manufacturing expenses.

Required - What is the total cost of goods sold for product B?

6280

7400

7700

8400

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92572641
Price:- $25

Verified Expert

Priced at $50 Now at $25, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - the following list of accounts appear in

Question - The following list of accounts appear in alphabetical order and were taken from ABC Corporation's ledger as of December 31, 2018. The Accounts Payable records were missing. Accounts Payable $? Inventory $7,000 ...

Question - concord could borrow 107700 from its bank to

Question - Concord could borrow $107,700 from its bank to finance the purchase at an annual rate of 10%. Should Concord borrow from the bank or use the manufacturer's payment plan to pay for the equipment?

Question - por corporation is an automobile manufacturer

Question - POR Corporation is an automobile manufacturer. POR has an unused piece of manufacturing equipment in one of its factories (i.e., a capital asset). POR has been approached by CIV Ltd., who would like to purchas ...

Assignment - all workings when appropriate must be shown to

Assignment - All workings, when appropriate, must be shown to substantiate your answers. Question 1 - Consolidation: Non-controlling interests Pepsi Ltd acquired 80% of the shares of Soda Ltd on 1 July 2015 for $115 000. ...

Question - stellar company manufactures equipment stellars

Question - Stellar Company manufactures equipment. Stellar's products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are ...

Question - accounting ninja incorporateds income statement

Question - Accounting Ninja Incorporated's Income Statement showed the following relvant data for thwe year ended December 31, 2017: Sales revenue - $207037 CPGS - $121277 Income from continuing operations - $253838 Loss ...

Question - abc company manufactures a single product and

Question - ABC Company manufactures a single product and provides the following budget information for the 2017/18 financial year: Expected Sales and Production (units) 10,000 Sales Price per unit 75,000 Variable Cost pe ...

Question - on march 1 2017 boyd company acquired real

Question - On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; th ...

Question critical thinking costs and benefits of import

Question: Critical Thinking: Costs and Benefits of Import Quotas In 1980, automobile manufacturers in the United States asserted that import quotas be instituted on foreign-produced vehicles marketed in the United States ...

Question - if you earned an income of 36500 in wages and

Question - If you earned an income of $36,500 in wages and other contractual income of $42,600 working under your own ABN, making a net profit of $38,500, what would be your total assessable income?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert