Major League Bat Company Finance Assignment Help With Solution
Major League Bat Company manufactures baseball bats. In addition to its goods in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials.
Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, and direct labor and factory overhead are applied uniformly throughout the production process and the company uses a perpetual inventory system)..
How it Works
How It works ?
Step 1:- Click on Submit your Assignment here or shown in left side corner of every page and fill the quotation form with all the details. In the comment section, please mention product code mentioned in end of every Q&A Page. You can also send us your details through our email id support@assignmentconsultancy.com with product code in the email body. Product code is essential to locate your questions so please mentioned that in your email or submit your quotes form comment section.
Step 2:- While filling submit your quotes form please fill all details like deadline date, expected budget, topic , your comments in addition to product code . The date is asked to provide deadline.
Step 3:- Once we received your assignments through submit your quotes form or email, we will review the Questions and notify our price through our email id. Kindly ensure that our email id assignmentconsultancy.help@gmail.com and support@assignmentconcultancy.com must not go into your spam folders. We request you to provide your expected budget as it will help us in negotiating with our experts.
Step 4:- Once you agreed with our price, kindly pay by clicking on Pay Now and please ensure that while entering your credit card details for making payment, it must be done correctly and address should be your credit card billing address. You can also request for invoice to our live chat representatives.
Step 5:- Once we received the payment we will notify through our email and will deliver the Q&A solution through mail as per agreed upon deadline.
Step 6:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Features for Assignment Help
We believe in providing no plagiarism work to the students. All are our works are unique and we provide Free Plagiarism report too on requests.
We believe in providing perfect, relevant and 100% accurate solutions to the student as per questions asked. All our experts are perfect in providing that so as to give unique experience to the students.
We are the only service providers boasting of providing original, relevant and accurate solutions. Our three stage quality process help students to get perfect solutions.
All our works are kept as confidential as we respect the integrity and privacy of our clients.
Related Services
- Physics Assignment Help
- Chemistry Assignment Help
- Engineering Assignment Help
- Psychology Assignment Help
- Online exam Help
- Marketing Assignment Help
- Arts Assignment Help
- Sociology Assignment Help
- Project Management Assignment
- Case Study Help
- Nursing Assignment Help
- Research Assignment Help
- Operations Management Assignment help
- Accounting Assignment Help
- Biology Assignment Help
- Mathematics Assignment Help
- English Assignment Help
- Business Plan Help
- Essay Writing Help
- Human Resource Assignment Help
- Accounting Homework Help
- Computer Science Assignment Help
- Finance Assignment Help
- Economics Assignment Help
- Statistics Homework Help
- Management Assignment Help
- Strategy Management Assignment Help
- Auditing Assignment Help
- Information Management Assignment Help
- Online Assignment Writing help
- Best Assignment Help
- Humanities Assignment help
Required:
You are to maintain records and produce measures of inventories to reflect the July events of this company. Set up the following general ledger accounts and enter the June 30 balances:
Cash
Raw Materials Inventory Goods in Process Inventory
$425,000 32,000 9,500
145,000 611,500 – – – –
$ 2,500 4,000 3,000
of direct materials of direct labor
of overhead
Finished Goods Inventory
Capital, Major League Bat Company Sales
Cost of Goods Sold
Factory Payroll
Factory Overhead
1. Prepare journal entries to record the following July transactions and events.
a. Purchased raw materials for $ 107,000 cash.
b. Used raw materials as follows: direct materials, $ 117,500 ; and indirect materials,$ 14,000 .
c. Incurred factory payroll cost of $ 172,800 paid in cash (ignore taxes).
d. Assigned factory payroll costs as follows: direct labor, $ 136,800 ; and indirect labor,$ 36,000 .
e. Incurred additional factory overhead costs of $ 52,775 paid in cash. f. Allocated factory overhead to production at 75% of direct labor costs.
2. Information about the July inventories follows. Use this information with that from part 1 to prepare a process cost summary, assuming the weighted-average method is used. (Round your cost per EUP answers to 2 decimal places for “Cost per EUP” and “Cost assignment and reconciliation”.
Units
Beginning Inventory Started
Ending Inventory
Beginning Inventory
Materials – Percent complete
Conversion Costs – Percent complete
Ending Inventory
Materials – Percent complete Conversion Costs – Percent complete
5,000 units 15,000 units 4,000 units
100% 90%
100% 40%
Using the results from part 2 and the available information, make computations and prepare journal
entries to record the following:
g. Total costs transferred to finished goods for July.
h. Sale of finished goods costing $ 275,000 for $550,000 in cash. i. Application any underapplied or overapplied overhead.
Prepare a Manufacturing Statement for Major League Bat Company. For the Factory Overhead costs, just use one line and call it “Applied Factory Overhead.”
Prepare a partial Income Statement just down to the Gross profit. The statement should show the Sales, detailed Cost of Good Sold, and the Gross Profit.
Product Code :Fin154
To get answer for this question, kindly click here (Note: Don’t forget to write the product code in comment section)
You can also email us at assignmentconsultancy.help@gmail.com but please mentioned product code in the mail body while sending emails.You can browse more questions to get answer in our Q&A sections here.