Examlex
The following information is available for Carter Corporation for 2012:
1) Materials inventory decreased $4,000 during 2012.
2) Materials inventory on December 31, 2012, was 50% of materials inventory on January 1, 2012.
3) Beginning work in process inventory was $145,000.
4) Ending finished goods inventory was $65,000.
5) Purchases of direct materials were $154,700.
6) Direct materials used were 2.5 times the cost of direct labor.
7) Total manufacturing costs incurred were $246,400, 80% of cost of goods manufactured and $156,000 less than cost of goods sold.
Compute:
a) finished goods inventory on January 1, 2012
b) work in process inventory on December 31, 2012
c) direct labor incurred
d) factory overhead incurred
e) direct materials used
f) materials inventory on January 1, 2012
g) materials inventory on December 31, 2012
Note to students: The answers are not necessarily calculated in alphabetical order.
Centralized Communication Network
A pattern of interaction in which communication flows only between individual members and a hub, or centre point.
Highly Cohesive Teams
Teams characterized by strong bonds, mutual respect, and a high level of collaboration and commitment towards common goals.
Evaluative Capabilities
The ability to assess, critique, or judge the value and effectiveness of something, typically within the context of organizational performance or potential.
Centralized Communication Network
A communication structure in which all decisions and processes are managed from a single central point of authority, often leading to efficient decision-making but reduced autonomy for lower levels.
Q75: A bond is simply a form of
Q84: The following information is available from the
Q94: The Cavy Company estimates that the factory
Q101: The auditor's report is where the auditor
Q115: Job cost sheets can provide information to
Q124: Newville Corporation reported net income of $50,000
Q127: Identify the following costs as (a) direct
Q129: The cost of a manufactured product generally
Q149: Which of the following represents an inflow
Q149: Which of the following items should be