South State, Inc used $153,000 of direct materials and incurred $63,000 of direct labor costs during the year
Indirect labor amounted to $270,000, while indirect materials used totaled $53,000. Other operating costs pertaining to the factory included utilities of $135,500; maintenance of $70,260; repairs of $53,400; depreciation of $133,000; and property taxes of $74,640. There was no beginning or ending finished goods inventory, but Work-in-Process inventory began the year with a $5,000 balance and ended the year with a $7,400 balance.
How much is the cost of goods manufactured?
A) $12,400
B) $1,003,400
C) $1,010,800
D) $1,005,800
B .
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Fetzer Company declared a $0.55 per share cash dividend. The company has 200,000 shares authorized, 190,000 shares issued, and 8,000 shares in treasury stock. The journal entry to record the dividend declaration is:
A. Debit Retained Earnings $104,500; credit Common Dividends Payable $104,500. B. Debit Retained Earnings $100,100; credit Common Dividends Payable $100,100. C. Debit Common Dividends Payable $100,100; credit Cash $100,100. D. Debit Common Dividends Payable $104,500; credit Cash $104,500. E. Debit Retained Earnings $110,000; credit Common Dividends Payable $110,000.
If the United States and Japan can't settle their trade disputes on their own, they probably should settle them through the
A. Tokyo Round. B. Kennedy Round. C. Uruguay Round. D. WTO. E. United Nations.
The process mean and standard deviation can be estimated by using samples that are selected from the process when a. it has only assignable-cause variation. b. its output is uniformly distributed
c. it is assumed to be operating in control. d. it is operating at peak capacity.
Sole proprietors often benefit from fringe benefits such as tax-free insurance plans.
Answer the following statement true (T) or false (F)