Business, 19.10.2020 20:01 ash062701

Assume that the following events occurred at a division of Generic Electric for March of the current year: 1. Purchased $100 million in direct materials.
2. Incurred direct labor costs of $46 million.
3. Determined that manufacturing overhead was $76 million.
4. Transferred 90 percent of the materials purchased to work-in-process.
5. Completed work on 75 percent of the work-in-process. Costs are assigned equally across all work-in-process.
6. The inventory accounts have no beginning balances. All costs incurred were debited to the appropriate account and credited to Accounts Payable.
Required:
Give the amounts for the following items in the Work-in-process account: (Do not round your intermediate calculations. Enter your final answers in millions rounded to 2 decimal places.)
Transfers-In Million
Transfers-Out Million
Ending Balance Million

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 01:20

Which of the following statements concerning an organization's strategy is true? a. cost accountants formulate strategy in an organization since they have more inputs about costs. b. businesses usually follow one of two broad strategies: offering a quality product at a high price, or offering a unique product or service priced lower than the competition. c. a good strategy will always overcome poor implementation. d. strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives.

Answers: 1

Answer

Business, 22.06.2019 08:30

Most angel investors expect a return on investment of question options: 20% to 25% over 5 years. 15% to 20% over 5 years. 75% over 10 years. 100% over 5 years.

Answers: 1

Answer

Business, 22.06.2019 11:30

Florence invested in a factory requiring. federally-mandated reductions in carbon emissions. how will this impact florence as the factory's owner? a. her factory will be worth less once the upgrades are complete. b. her factory will likely be bought by the epa. c. florence will have to invest a large amount of capital to update the factory for little financial gain. d. florence will have to invest a large amount of capital to update the factory for a large financial gain.

Answers: 1

Answer

Business, 22.06.2019 13:20

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.

Answers: 3

Answer

You know the right answer?

Assume that the following events occurred at a division of Generic Electric for March of the current...

Questions