Manufacturing overhead cost based problem
In July direct labor was 40% of conversion cost. If the manufacturing overhead cost for the month was $34,000 and the direct materials cost was $23,000, the direct labor cost was:
A. $22,667
B. $15,333
C. $51,000
D. $34,500
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Yore Corporation has provided the above data for the month of June. The beginning balance in the finished goods inventory account was $35,000 and the ending balance was $26,000.
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What is the total amount of gain/(loss) that Logic Company will report in its income statement for the year ended December 31, 2010 related to its investment in Midi, Inc. stock?
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