Business, 21.12.2019 00:31 kaylaamberd

Current information for the healey company follows: beginning raw materials inventory $15,200 raw material purchases 60,000ending raw materials inventory 16,600beginning work in process inventory 22,400ending work in process inventory 28,000direct labor 42,800total factory overhead 30,000all raw materials used were traceable to specific units of product. healey company's cost of goods manufactured for the year is: a. $125,800.b. $128,600.c. $131,400.d. $137,000.e. $139,000.

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Answer from: abdullahs4639

The correct answer is A.

Explanation:

Giving the following information:

Beginning raw materials inventory $15,200

Raw material purchases 60,000

Ending raw materials inventory 16,600

Total direct material used during the period= (15,200 + 60,000 - 16,600)= $58,600

Beginning work in process inventory 22,400

Ending work in process inventory 28,000

Direct labor 42,800

Total factory overhead 30,000

To calculate the cost of goods manufactured we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 22,400 + 58,600 + 42,800 + 30,000 - 28,000= $125,800

Answer from: Quest

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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The advantage of administering personality tests on employees is that it will allow the employer to know the mindset and personality of the employee. this will allow the employer to at least have an idea as to how the employee works and how his attitude in the workplace. the disadvantage is that it may make the employee a little anxious as to whether he would meet the personality requirements of the employer and whether he would be able to retain the job or not.

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