Answer:
Year-end WIP 62,200
jounral entry for completed jobs:
-------------------------------------
Finished Good Inventory 1,149,800 DEBIT
WIP inventory 1,149,800 CREDIT
-------------------------------------
Explanation:
<u>WIP </u>
Beginning $ 72,000
Materials $ 390,000
Labor $ 500,000
Overhead <u>$ 250,000</u>
Total WIP $ 1,212,000
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<u>Finished Jobs:</u>
Job 210 $ 200,000
Job 224 $ 225,000
Job 216 $ 288,000
Job 230 <u>$ 436,800</u>
Total $ 1,149,800
the jobs complete will move to finished good and credit WIP inventory
WIP year-end:
1,212,000 - 1,149,800 = 62,200
Answer:
6.11%
Explanation:
For computing the variance, first we have to determine the expected return which is shown below:
= (Expected return of the boom × weightage of boom) + (expected return of the normal economy × weightage of normal economy) + (expected return of the recession × weightage of recession)
= (12% × 5%) + (10% × 85%) + (2% × 10%)
= 0.6% + 8.5% + 0.2%
= 9.30%
Now the variance would equal to the
= Weightage × (Return - Expected Return) ^2
For boom:
= 5% × (12% - 9.3%) ^2
= 0.3645
For normal economy:
= 85% × (10% - 9.3%) ^2
= 0.4165
For recession:
= 10% × (2% - 9.3%) ^2
= 5.329
So, the total variance would be
= 0.3645 + 0.4165 + 5.329
= 6.11%
Answer:
$180
Explanation:
Calculation to determine Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.
Using this formula
Warrant liability=Numbers of mixers sold × Percentage of mixers returned for repair or replacement ×The average cost to ship a mixer
Let plug in the formula
Warrant liability=30 x 10% x $60
Warrant liability=$180
Therefore Cookie Creations’ warranty liability for the shipping costs at December 31, 2020 will be $180
Since smoking is very popular. (1 billion people smoke) It would be very important if they start with researching about smoking, so they can hopefully reduce the amount of smokers in the world.
Answer:
Price will be 6.6
Explanation:
You can find the attached file.
