D&I Supplies, Inc selected cost data for the year are shown below
Work-in-Process Inventory, Jan. 1 $5,920
Direct Materials Used 101,000
Work-in-Process Inventory, Dec. 31 2,860
Cost of Goods Manufactured 193,100
Assuming manufacturing overhead costs of $27,800, what is the amount of direct labor incurred by D&I Supplies, Inc during the year?
A) $64,300
B) $190,040
C) $61,240
D) $128,800
C .C) Total Manufacturing Cost = Ending Work-in-Process Inventory + Cost of Goods Manufactured - Beginning Work-in-Process Inventory = $2,860 + $193,100 - $5,920 = $190,040
Direct labor costs = Total Manufacturing Cost - Manufacturing overhead costs - Direct Materials Used = $190,040 - $27,800 - $101,000 = $61,240
You might also like to view...
Statistical techniques appropriate for analyzing data when there is a single measurement of each element in the sample are called ________
A) univariate techniques B) multivariate techniques C) random techniques D) parallel techniques E) uniform techniques
Roe-Pharma, a Canadian drug company, obtained a licence from Mega-mega-Pharma, a Swiss drug company, to sell Heptamyoextropalol in Canada. Reo-Pharma sells this patented medicine for $15 per pill
Generic Drugs Inc, another Canadian company, says that it can sell this drug for $2.50 per pill. Which of the following is true? A) GDI can apply for a compulsory licence but it will not be granted because Reo-Pharma is using the patent. B) GDI cannot apply for a compulsory licence pursuant to the Patent Law Amendment Act, 1992. C) GDI will likely be granted a compulsory licence under the Patent Act because the price at which this drug is currently being sold is so high. D) The Patented Medicine Price Review Board may reduce the price of Heptamyoextropalol if it feels it is excessive. E) Both B and D
Theatrical Supplies Company contracts to sell to Unique Costumes, Inc., seven hundred plastic masks at $1 each to be delivered by October 1. Theatrical knows that Unique will use the masks to make Halloween costumes. Unique usually makes $7,000 profit from the costumes' sale. Theatrical fails to deliver on October 1. Unique attempts to buy substitute masks, but must pay $1.20 for each and take delivery on October 15, cutting Unique's sales in half. Unique sues Theatrical. What is the measure of recovery?
What will be an ideal response?
Natalie is interested in valuing the shares of Union Aerospace (UA). UA pays dividends annually. She expects the stock to pay dividends of $3 at the end of each of the next four years
Thereafter, she expects the dividend to grow at 7% per annum in perpetuity. If her required return is 12%, then how much should she pay for a share? A) $43.63 B) $45.54 C) $47.24 D) $49.91 E) $73.31