What is a good name for a bakery

g Financial statements are linked within and across periods in that a) The income statement and the balance sheet are linked via

Annette [7]

Answer:

Financial statements are linked within and across periods in that

d) All of the above.

Explanation:

The linkage of all the financial statements can be traced to how they share interconnected information about the financial position and performance of an entity. The three more prominent financial statements include the income statement for the period, the statement of cash flows, and the balance sheet. While the income statement shows the financial performance by determining the profitability, the statement of cash flows concentrates on the inflow and outflow of cash, and the balance sheet shows the financial position, disclosing the assets, liabilities, and equity balances.

7 0

3 years ago

Yummy Bakery is considering the purchase of 3 wheat farms, located in KS, ND, and WA. The wheat production and costs of these fa

tresset_1 [31]

Answer: Min 5KS+6ND+8WA

Explanation:

For the objective function to be formulated, we have to minimize the cost. For this to be done, the capacity constraint which is given in the question as 22000 ton/year has to be satisfied.

For this question, the objective function will be to minimize 5KS + 6ND + 8WA. It should be noted that KS, ND and WA in this context are binary variables where 0 represents non-selected farm and 1 represents selected farm.

6 0

4 years ago

Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The follow

taurus [48]

Answer:

a. raw materials purchases

raw materials 505,000 debit

account payable 505,000 credit

b. direct materials usage

Weaving WIP 304,000 debit

Sewing WIP 84,000 debit

Raw Materials 388,000 credit

c. indirect materials usage

Factory overhead 164,000 debit

Raw Materials 164,000 credit

d. direct labor usage

Weaving WIP 1,275,000 debit

Sewing WIP 485,000 debit

Wages Payables 1,760,000 credit

e . indirect labor usage

Factory overhead 1,525,000 debit

Wages Payables 1,525,000 credit

f. other overhead costs

Factory Overhead 186,000 debit

Other Account Payable 186,000 credit

g. overhead applied

Weaving WIP 1,083,750 debit

Sewing WIP 751,750 debit

factory Overhead 1,760,000 credit

h. payment of total wages costs.

Wages Payable 3,285,000 debit

Cash 3,285,000 credit

Explanation:

the direct cost is assigned to each department while the indirect cost into factory overhead

g) overhead calculations:

Weaving $1,275,000 labor x 85% = 1,083,750

Sewing $ 485,000 labor x 155% = 751,750

Total applied overehead: 1,835,500

h) total wages cost:

Wages payable T-account

DEBIT CREDIT

--------------------------------------

d) 1,760,000

e) 1,525,000

Balance 3,285,000

6 0

3 years ago

Tara purchased a machine for $40,000 to be used in her business. The cost recovery allowed and allowable for the three years the

nexus9112 [7]

Answer:

c. $11,480

Explanation:

Given that

Cost recovery allowed Cost recovery allowable

Year 1 $16,000 $8,000

Year 2 $9,600 $12,800

Year 3 $5,760 $7,680

The computation of gain should Tara recognize is shown below:-

Cost $40,000

Less:

Greater cost of recovery

allowable or allowed

Year 1 $16,000

Year 2 $12,800

Year 3 $7,680 $36,480

Adjusted basis $3,520

Gain to be recognized = Residual value - Adjusted basis

= $15,000 - $3,520

= $11,480

So, for computing the gain to be recognized we simply deduct the adjust basis from residual value.

7 0

4 years ago

Noah Construction Company is building a large complex for a contract price of $5,000,000. This is a three-year project and the r

Zepler [3.9K]

Answer:

$625,000

Explanation:

Calculation for how much income is recognized in Year 3

First step

Year 1 2 3

Cost incurred Till date

1000 (1000+1500)2500 (2500+1250)3750

Estimated cost to complete

3000 1500 0

Total cost of contract

4000 4000 3750

Second step

Using this formula to calculate for the percentage of completion for each year

Percentage of completion =Cost incurred till date /Total cost

Let plug in the formula

Yeat 1= 1,000/4,000 =25%

Year 2= 2,500/4,000 =62.5%

Year 3=3,750/3,750 =100%

Last step

Year 1 2 3

Contract price 5000 5000 5000

Less:Total cost (4000) (4000) (3750)

Gross profit 1000 1000 1250

Percentage of completion

25% 62.5% 100%

Gross profit to be recognized till date (1000*25%)=250 (1000*62.5%)=625 (1250*100%)=1,250

Less:Gross profit recognized till prior year

0 -250 -625

Gross profit to be recognized in current period

250 375 625

Hence;

Year 1 Gross profit is $250,000

Year 2 Gross profit is $375,000

Year 3 Gross profit is $625,000

Therefore the amount of income recognized in year 3 will be $625,000

8 0

3 years ago