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2 years ago

On the costs of goods manufactured schedule, the item raw materials inventory (ending) appears as a(n)

1 answer:

7 0

When it comes to the cost of goods manufactured schedule, the raw materials inventory (ending) would appear as a subtraction from raw materials available for use.

<h3>How is ending raw materials treated?</h3>

The Cost of goods manufactured requires that the cost of raw materials that are used be calculated.

As the raw materials ending inventory is for raw materials that were not used, the it has to be subtracted from the raw materials available for use to find the materials used.

Find out more on the cost of goods manufactured schedule at brainly.com/question/22552308.

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Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the pe

Len [333]

Complete Question:

The Town of Elizabeth operates the old train station as an enterprise fund. The train station is on the national register of historic buildings. Since the town has held the building for such a long time, the Central Station Fund has no long-term debt. The only capital assets recorded by the Central Station Fund are machinery and equipment. Businesses rent space in the building and the town provides all services related to the operation and maintenance of the building. Following is information related to the fund's 2017 operating activities:

1. Rental income of $94,444 was accrued. Subsequently, cash in the amount of $90,210 was received on accounts.

2. Cash expenses for the period included: administrative services, $25,205; maintenance and repairs, $72,882; supplies and materials, $7,792 and utilities $30,124.

3. The Central Station Fund received a $60,000 transfer of funds from the General Fund.

4. Adjustments were made for depreciation ($3,519) and for uncollectible accounts ($667).

5. At the end of the period, nominal accounts were closed.

Required: (b only)

Prepare a statement of revenues, expenses, and changes in fund net position. The net position balance at the beginning of the period was $60,129.

Answer:

The Central Station Enterprise Fund

Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 20XX:

Rental Income $90,210

Expenses:

Administrative services 25,205

Maintenance & Repairs 72,882

Supplies & Material 7,792

Utilities 30,134

Total Expenses $136,193

Excess Expenses (45,983)

Transfer from

General Funds 60,000

Beginning balance 60,129

Ending Balance $74,146

Explanation:

The Central Station Enterprise Fund's statement of revenues, expenses, and changes in fund balances is the governmental funds' income statement. It tracks the inflow and outflow of resources. The statement does not only report revenues and expenses, it also reports inflows and outflows of resources like the transfer of funds received from the General Fund, including the beginning fund balance. Together, these will result to an ending fund balance.

8 0

4 years ago

An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has

viva [34]

Answer: (A) Market maturity

Explanation:

The market maturity is one of the stage in the product life cycle where is basically refers to the sales growth where the product sales growth get increased and then suddenly get slows down.

The market maturity stage is basically known as the longest stage in the product life cycle. In this life cycle stage the organization reaches to the highest level during the demand cycle.

Therefore, Option (A) is correct.

8 0

3 years ago

Gary’s Company produces high quality shirts. Shirts must be well made because of frequent washings. Currently, Gary sells 10,000

grin007 [14]

Answer:

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

Explanation:

Giving the following information:

Currently, Gary sells 10,000 shirts at $60 each with the capacity to produce 11,000 shirts. Gary is considering a special order for 1,800 shirts for $40.

Gary has the following costs:

Unit Costs $200,000

Facility Costs $140,000

If Gary accepts the special order, they will incur an additional $2 per shirt in foreign currency transaction costs.

Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

variable cost per unit= (200,000/10,000) + 2= $22

Effect on income= (40 - 22)*1,800= $32,400

We have to take into account the loss of not selling 1,000 units.

Effect on income= 1,000*40= $40,000

Total effect= 32,400 - 40,000= $7,600

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

6 0

3 years ago

Grace is the editor of her school newspaper. Which feature of a word processing program would she use to make her changes visibl

gogolik [260]

the answer is A TRACK CHANGES . autocorrect is wrong it deletes the answer and changes it to the right one . but track changes shows all the changes you have made to the paper hope this helps.

8 0

3 years ago

Read 2 more answers

Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations

stepan [7]

Answer:

Part A) Book Value = $1,080,000

Part B) Book Value = $1,050,000

Explanation:

Part 1: To compute the book value of the common stock at December 31, 2020

To do this, we consider both the preferred and common stock values as follows:

Stockholder's equity:

Preferred Stock = $500,000

Common stock = $750,000

Retained earnings: To calculate retained earnings we need to deduct dividends in arrears to prefered stock holders and then ascribe the remaining value to retained earnings.

Dividend in Arrears= 3 years @ 8% interest per year

= 500,000 x 0.08 x 3= $120,000

Remaining earnings for available to common share holders

= Retained earnings balance- dividend paid to prferred stock holders.

=$800,000 (net income for 2020)- $40,000 (net loss for 2019) - $260,000 (net loss for 2018)

= $800,000-$40,000-$260,000

= $500,000 - Dividend in arrears

= $500,000- $120,000

= $380,000

Book Value of Stockholders' equity

Common Stock equity + Balance of retained earnings

= $700,000 + $380,000

= $1,080,000

The book value per share = $1,080,000/ outstanding shares

= $1,080,000/750,000= $1.44

Part 2: To compute the book value of the common stock at December 31, 2020 Preference stock has liquidating value of $106 per share

Stockholder's equity:

Preferred Stock = $500,000

Preferred stock liquidating premium = (106-100) x 5000

= $6 x 5000= $30,000

Common stock = $750,000

Retained earnings: To calculate retained earnings we need to deduct dividends in arrears to prefered stock holders and then ascribe the remaining value to retained earnings.

Dividend in Arrears= 3 years @ 8% interest per year

= 500,000 x 0.08 x 3= $120,000

Remaining earnings for available to common share holders

= Retained earnings balance- net losses from previous years - dividend paid to prferred stock holders - liquadating premium to preferred stock

=$800,000 (net income for 2020)- $40,000 (net loss for 2019) - $260,000 (net loss for 2018)

= $800,000-$40,000-$260,000

= $500,000 - Dividend in arrears - liquidating

= $500,000- $120,000- $30,000

= $350,000

Book Value of Stockholders' equity

Common Stock equity + Balance of retained earnings

= $700,000 + $350,000

= $1,050,000

The book value per share = $1,080,000/ outstanding shares

= $1,050,000/750,000= $1.4

6 0

4 years ago