Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year:         Work in Process, January 1 $ 50,000   Work in Process, December 31   37,000   Direct materials used $ 12,500   Total factory overhead   5,500   Direct labor used   26,500    

[The following information applies to the questions displayed below.]Angle Max Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next year’s expected costs and activities are shown below.   Assembly Finishing Direct labor hours   100,000 DLH   140,000 DLH Machine hours   300,000 MH   60,000 MH Overhead costs $ 300,000   $ 420,000   Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead based on direct labor hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 2.5 machine hours in the Assembly Department, and 3.5 direct labor hours and 0.5 machine hours in the Finishing Department?

Flash Company produces lamps. All of the following are direct costs except:

Shown below is a Lineweaver-Burke plot displaying the kinetics for an enzyme catalyzed reaction that was conducted with 800 pmol of enzyme in both the absence and presence of a 100 µM concentration of an inhibitor.   What is the value of Vmax for the inhibited line?   Answer to 2 sf please.

At year-end, Marshall Enterprise’s Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end?

Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $400,000, and direct labor costs to be $2,000,000. Actual overhead costs for the year totaled $380,000, and actual direct labor costs totaled $1,800,000. At year-end, the balance in the Factory Overhead account is a:

Which of the following is not part of the production activity in the flow of manufacturing activities?

The rate established at the beginning of a period that uses estimated overhead and an allocation factor such as estimated direct labor, and that is used to assign overhead cost to jobs, is the:

Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $22,000, and the materials used to complete jobs during the month were $141,000 direct materials and $13,000 indirect materials. How should Andrews record the purchase of raw materials for March?

If one unit of Product Z2 used $2.50 of direct materials and $3.00 of direct labor, sold for $8.00, and was assigned overhead at the rate of 30% of direct labor costs, how much gross profit was realized from this sale?