1. R 20 million of new investment has been added to the South African economy, the current MPS is

On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requi

katrin [286]

Answer:

Dr Purchases/ Raw Material Inventory .......................80,000

Cr Bank/Account Payable....................................................80,000

Dr Work in Process ................................................................67,400

Cr Raw Material Inventory............................................................67,400

Explanation:

FOR PURCHASE OF MATERIAL

Dr Purchases/ Raw Material Inventory .......................80,000

Cr Bank/Account Payable....................................................80,000

Being purchase of 10,000 units of raw materials at $8 per unit

FOR MATERIAL FOR PRODUCTION

Dr Work in Process ................................................................67,400

Cr Raw Material Inventory............................................................67,400

Being materials used in production: 7,500 units at $8 per unit for job 200 and 1,480 units at $5 per unit for job 305

In relation to 'purchase of material' we debit the raw material inventory account because material is increasing and is an asset account; and we credit Bank if the materials have been paid for OR 'accounts payable', if the material has not yet been paid for.

In relation to 'requisition of material for production' we debit the raw material inventory account because material is decreasing and is an asset account; and we credit 'work in process' to assign the cost of materials to the ongoing jobs respectively.

5 0

4 years ago

On January 1, 2018, Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cos

Licemer1 [7]

Answer:

Pension Expense = EBE = $593440 for income statement

Explanation:

The opening balance of the Plan asset is made by the 40000 from 2018 plus interest of 32000 and the new 400000 made this year. Why include it? Because an opening balance are the funds in an account at the beginning of the year either from last year or are from current year but should be the first entry in the books of the current year.

DBO plan asset EBE

opening balance (600000) 832000 -

interest ( 60000) 66560 6560

current year's service cost (600000) (600000)

( 1260000 ) 898560 <u> 593440</u>

balance sheet liability = 361440

5 0

4 years ago

Read 2 more answers

a business plan that provides information on a company, its products or services, its market, and critical risks to prospective

vladimir1956 [14]

A business plan that provides information on a company, its products or services, its market, and critical risks to prospective business or marketing partners or to prospective key employees is called an invention plan.

Invention Plan informs prospective business or marketing partners or key employees about the company, product/service, market, and critical risks.

This business plan should briefly explain ones corporation, ones brand, the main aspects of ones market research, ones strategic plan, ones management, and ones financial plan.

Learn more on business plan -

brainly.com/question/15826771

#SPJ4

4 0

1 year ago

A firm is producing an output such that the benefit from one more unit is more than the cost of producing that additional unit.

Burka [1]

Losing they're investment dollars. calculating the cost of production.

5 0

3 years ago

A new alloy can be produced by Process A, which costs $200,000 to implement. The operating cost will be $10,000 per quarter with

Andreyy89

Answer:

Difference between A and B =$42398.5

Process B is better as its PW value is smaller than Process A.

Explanation:

In order to use present worth, both Alternatives must have same time period. Since Process B has 4 years means 16 quarters so we make process A to have 16 quarters two with 2% interest rate per quarter.

Note:

We are going to use Compound Interest tables to simplify our work. Formulas can also be used.

For Process A:

Present value of process A= $-200,000-200,000(P/F,2\%,8)-10,000(P/A,2\%,16)+25,000(P/F,2\%,8)+25,000(P/F,2\%,16)$