Which statement is true about letters of credit?

Wavy Company had a beginning work in process inventory balance of $ 32 comma 900$32,900. During the year, $ 54 comma 700$54,700

vampirchik [111]

Answer:

The ending work in process inventory balance is $3,120

Explanation:

Ending work in process inventory =

Beginning Work in progress inventory + Direct materials + Direct labor + Manufacturing overhead (applied) – Cost of goods manufactured

Beginning Work in progress inventory =$32,900

Direct materials = $54,700

Direct labor = $64,100

Manufacturing overhead (applied) = 120% * $64,100 = $76,920

Cost of goods manufactured = $225,500

Ending work in process inventory = $32,900 + $54,700 + $64,100 + $76,920 - $225,500

= $3,120

Therefore, The ending work in process inventory balance is $3,120

3 0

3 years ago

A _____ is applied to reduce estate tax when a large amount of real estate is for sale in one area.

adelina 88 [10]

A <u>marketability discount</u> is applied to reduce estate tax when a large amount of real estate is for sale in one area.

When evaluating private enterprises, the discount for lack of marketability (DLOM) is used. It has to do with the business not having a publicly listed stock on a stock market.

Since shares of publicly listed corporations may be purchased or sold in a controlled marketplace, these companies are seen to have a "market." Private businesses lack a centralised market and are thought to have smaller markets. In order to represent the lack of a market, private firms should, in principle, be valued lower than public companies, all else being equal.

To know more about estate tax refer here:

brainly.com/question/6362495

#SPJ4

8 0

2 years ago

Vigeland Company completed the following transactions during Year 1. Vigeland’s fiscal year ends on December 31. Jan. 15 Purchas

Darya [45]

Answer:

VIGELAND COMPANY

Journal Entries

Date Description DR CR

Jan 15 Merchandising Inventory 14,400

Cash 14,400

Being record of inventory purchase

April 1 Cash 708,000

14% Note payable 708,000

Being the record of note payable issued

June 14 Bank 26,000

Unearned Income 26,000

Being the record of deposit received

July 15 Unearned Income 2,850

Service Revenue 2,850

Being the payment for the services rendered

Dec 12 Electricity bill payable 26,760

Electricity bill expenses 26,760

Being the unsetled bill for the year

Dec 31 Wages payable 29,000

Wages Expenses 29,000

Explanation:

6 0

4 years ago

after compiling a list of potential customers, a salesperson must

Yuki888 [10]

Assit the new potential customers and discuss more

3 0

3 years ago

Marginal cost ______(A) Is the change in total output from hiring one more factor of production.(B) Is the change in total cost

cupoosta [38]

Answer:

(B) Is the change in total cost from producing one additional unit of output

Explanation:

Marginal cost is the change in the total cost of production as a result of increasing the quantity produced by one unit.

Diminishing returns causes marginal cost to increase.

Marginal product of labor (MPL) is the change in output as a result of hiring one more unit of labour.

7 0

3 years ago