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serious [3.7K]
1 year ago
7

The Coca-Cola Company uses a job-order costing system. True or False: Job-order costing uses the actual direct materials cost of

the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job.
Business
1 answer:
ss7ja [257]1 year ago
6 0

Answer: In managerial accounting, there are two general types of costing systems to assign costs to products or services that the company provides: “job order costing” and “process costing”. Job order costing is used in situations where the company delivers a unique or custom job for its customers. Every customer is treated uniquely and delivered products to specifically suit their individual needs.

Explanation: hope this helps, if not I'm sorry

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ABC, Inc. discounts a 5%, 9-month, $1,000 note with a financial institution after holding the note for 3 months. The note was re
Gnoma [55]

Answer:

interest receivable   12.50    debit

     interest revenue     12.50 credit

--adjusting entry for the interest accrued--

interest expense      11.31 debit

cash                     1,001.19 debit

     note receivable             1,000.00 credit

     interest receivable             12.50 credit

--to record early discount of the note--

Explanation:

We are going to write-off the note and check for the interest expense:

book value of the note:

principal  + interest accrued

principal x rate x time = interest

1,000 x 0.05 x 3 months/12 month a year  = 12.50

we had interest receivable for 12.50

1,000 + 12.5 = 1,012.5 we receive 1,001.19

interest expense: 11.31

We are following this process to avoid compensate balance as is the company earned interest during those three months and then it pay interest to get cash earlier.

8 0
3 years ago
Chang and Smith Tours has the following balance sheets: 2018 2019 Assets Cash $209 $197 Accounts Receivable 684 726 Inventory 91
rusak2 [61]

Answer:

Chang and Smith Tours

The amount of net working capital for 2019 is:

$828.

Explanation:

a) Data and Calculations:

Chang and Smith Tours

Balance sheets:                        2018            2019

Assets

Cash                                          $209            $197

Accounts Receivable                  684             726

Inventory                                      918           1,023

Net Fixed Assets                      2,014           1,944

Total Assets                           $3,825       $3,890

Liabilities and Equity

Accounts Payable                     $748           $818

Notes Payable                            306             300

Long-Term Debt                      1,647           1,724

Stockholders' Equity                 1,118           1,048

Total Liabilities and Equity   $3,819        $3,890

Working capital:

Current assets:

Cash                                          $209            $197

Accounts Receivable                  684             726

Inventory                                      918           1,023

Less current liabilities

Accounts Payable                     $748           $818

Notes Payable                            306             300

Net working capital                 $757           $828

b) The net working capital is the difference between current assets and current liabilities.

8 0
2 years ago
A government deficit has decreased from 100 to 60. The country's trade deficit is 120 and private savings equal 80 and investmen
charle [14.2K]

Answer:

40

Explanation:

According to Ricardian theory, any change in budgets deficits or surpluses should be completely offset by an equal change in private savings.

In this case, the original amount of private savings was 80, but since the budget deficit decreased by 40, then the private saving should also decrease by 40. The total private saving = 80 - 40 = 40

3 0
3 years ago
Economists measure the personal satisfaction someone gets from consuming goods and services with the concept of
KiRa [710]
Economists measure the personal satisfaction derived from consuming goods and services with the concept of UTILITY. Utility refers to the total satisfaction derived from consuming a good or service. The utility of a good or service has direct influence on demand  and therefore price of that product.
6 0
3 years ago
Adam is a part-time employee who earned $495.00 during the most recent pay period. He is married with two withholding allowances
Akimi4 [234]

Answer:

Amount of Social Security tax  = $30.69

Explanation:

given data

earned = $495.00

pay = $6,492.39

to find out

How much should be withheld from Adam's gross pay for Social Security tax

solution

we assume here no pre tax is deductions

and social security tax rate is  6.2%

so Amount of Social Security tax  will be

Amount of Social Security tax =  earned × social security tax

Amount of Social Security tax = $495 × 6.2%

Amount of Social Security tax = $495 × 0.062

Amount of Social Security tax  = $30.69

5 0
3 years ago
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