The following abstract of certain ledger balances have been provided from a company's budget [Note: These same figures will be used in the following few questions]:   Cost of goods sold 1,605Finished Goods - Closing balance 105Fixed manufacturing overhead applied 185Gross Profit 1,095Materials - Closing balance 90Materials - Opening balance 100Materials - Used 375Operating income 510Period Costs 585Revenue 2,600Total manufacturing costs incurred 1,610Total manufacturing overhead costs 500Work in Process - Closing balance 210Work in Process - Opening balance 200Calculate the value of "Direct manufacturing labour"? (enter your figure to the nearest whole number, without dollar signs ($) or comma's)

Which of the following is the closing balance of a ledger account? A. Balance c/d B. Balance b/d C. Balance e/d D. Balance f/c

The flow of manufacturing costs through the ledger accounts of Superior Locks, Inc., in the current year is illustrated as follows in summarized form.   Required:Indicate the amounts requested below. Some amounts are shown in the illustrated T accounts; others require short computations.a. Compute the amount of purchases of direct materials.b. Compute the amount of the cost of direct materials used.c. Compute the amount of direct labor costs assigned to production.d. Compute the amount of the year-end liability for direct wages payable.e. Compute the amount of total manufacturing costs charged to the Work in Process Inventory account during the current year.f. Compute the amount of the cost of finished goods manufactured.g. Compute the amount of the year-end balance in the Work in Process Inventory account.h. Compute the amount of the cost of goods sold.i. Compute the amount of the total amount of inventory listed in the year-end balance sheet.

Following are comparative balance sheets spanning 3 years. Express the balance sheets in common-size percentages for each year.Comparative Balance SheetsFor Years Ended December 31  Current Year 1 Year Ago 2 Years AgoCash $ 640 $ 525 $ 552Accounts receivable, net 960 1,200 1,104Merchandise inventory 2,000 1,650 1,242Plant assets, net 4,400 4,125 4,002Total assets $ 8,000 $ 7,500 $ 6,900Accounts payable $ 1,600 $ 825 $ 966Long-term notes payable 1,760 1,875 1,518Common stock 3,440 3,675 3,450Retained earnings 1,200 1,125 966Total liabilities and equity $ 8,000 $ 7,500 $ 6,900

Accounting Worksheet and Trial BalanceDuring the current financial period, the following transactions took place for Corona Ltd:1. Damaged inventory purchased on credit at a cost of $19,300 was returned to supplier. 2. Wages totalling $21,200 were paid for the period.3. Paid $39,500 to credit suppliers. 4. Inventory worth $19,300 is bought on account.            5. Machinery is purchased for $78,200 on cash.    6. Provided services for $50,200 cash.7. Borrowed $68,800 cash from the bank.Assume that the following opening balances existed before the above transactions took place: Account name   Opening balance ($) Cash 251,000Inventory 58,000Machinery 142,000Accounts payable  82,200Loan payable 75,000Share capital 293,800

The balance sheet shows the following accounts and amounts:Cash $26,000; Short-term Debt $42,000; Buildings and Equipment $840,000; Inventory, $88,000; Notes Payable $120,000; Accumulated Depreciation $220,000; Common Stock $160,000; Accounts Receivable $76,000; Retained Earnings $474,000; Accounts Payable $34,000.Total assets on the balance sheet are:Multiple Choice$1,030,000.$734,000.$1,250,000.$810,000.