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padilas [110]
3 years ago
14

Cost of Direct Materials Used in Production for a Manufacturing Company

Business
1 answer:
strojnjashka [21]3 years ago
3 0

Answer:

$855,000

Explanation:

The Raw Materials T - Account can be used to determine the cost of direct materials used in production using the missing balance technique as follows :

Raw Materials T - Account

Debit :

Beginning Balance                                               $279,000

Purchases                                                             $828,000

Total                                                                     $1,107,000

Credit :

Ending Balance                                                    $252,000

Transferred to Production (<em>Balancing figure</em>)     $855,000

Total                                                                     $1,107,000

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When Corinne asked why she didn't get the job, the manager replied, "I needed someone who understood basic accounting practices
OLga [1]

Answer:

The aspect of career readiness the manager feel Corinne was lacking was Knowledge

Explanation:

Career readiness is the preparation and process of acquiring skills, knowledge, talents that are required to start a career, maintain one's position in such career and grow.

The aspect of career readiness the manager feel Corinne was lacking was Knowledge because see made a statement that implied that Corinne lack basic understanding of accounting practice.    

Knowledge  is an aspect of career readiness that has to do with the theoretical or practical  understanding of a subject matter. It is the information, skills and facts gained through experience and education.

Other skills that are acquired in the process of career readiness are communication skills, human relation skills, critical thinking skills etc.

5 0
3 years ago
Pearl Sands is a resort in the town of Willington. It attracts the maximum number of customers in the summer. In the spring, Pea
Anastasy [175]

Answer: Push Strategy.

Explanation:

Pull strategy is applied by Pearl sands to draw customers to their holiday spot, by presenting their holiday spot as irresistible to their customers.

Pull strategy is an advertisement strategy used by marketers to draw customers to their product, by various means of adverts using Mass media and forms of advertisement.

4 0
3 years ago
Brown Cow Dairy uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on t
Gnesinka [82]

Answer:

1a. Dec-31

Dr Allowance for doubtful accounts $780

Accounts receivable (Patty's Bake Shop) Cr $780

1b . Dec-31

Dr Bad debt expense $1,000

Cr Allowance for doubtful accounts $1,000

2a. Bad debt expense $1,000

2b. Doubtful accounts $25,170

Explanation:

1. Preparation of the journal entries

First step is to adjust for estimated bad debt expense for current year

Aged Accounts Receivable Estimated Percentage Uncollectible Estimated Amount Uncollectible

Not yet due 19,000* 2%= $380

Up to 120 days past due 5,000*11%=$550

Over 120 days past due 3,000*30%=$900

Estimated balance in allowance for Doubtful Accounts $1,830

Less Current balance in allowance for Doubtful Accounts ($830)

Bad Debt Expense for the year $1,000

($1,830-$830)

Now let prepare the Journal entry:

1a. Dec-31

Dr Allowance for doubtful accounts $780

Accounts receivable (Patty's Bake Shop) Cr $780

(To record Write off accounts receivable)

1b. Dec-31

Dr Bad debt expense $1,000

Cr Allowance for doubtful accounts $1,000

(To record allowance of doubtful account)

2aCalculation to Show how the amounts related Bad Debt Expense would be reported on the income statement and balance sheet for the current year.

BROWN COW DAIRY COMPANY

Income Statement (Partial)

As of December 31

Operating expenses:

Bad debt expense $1,000

2b. Calculation to Show how the amounts related to Accounts Receivable would be reported on the income statement and balance sheet for the current year.

BROWN COW DAIRY COMPANY

Balance Sheet (Partial)

As of December 31

Current assets:

Accounts receivable (Patty's Bake Shop) $27,000

(Less)Allowance for doubtful accounts ($1,830)

Accounts receivable, net of allowance for Doubtful accounts $25,170

Accounts receivable =$ 19,000+$5,000+$3,000 Accounts receivable =$27,000

Allowance for doubtful accounts = $380+$550+$900

Allowance for doubtful accounts = $1,830

Therefore the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement and balance sheet for the current year will be :

Bad debt expense $1,000

Doubtful accounts $25,170

3 0
2 years ago
Organizational structuring companies have four general issues to consider when attempting to design their organization for respo
kykrilka [37]
Flat organizational structure
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3 years ago
Guaranteeing everyone in society the best healthcare possible will likely________ (increase or decrease) equality and ________ (
miv72 [106K]

Answer:

Guaranteeing everyone in society the best healthcare possible will likely increase equality and decrease efficiency.

Paying laid-off workers unemployment benefits until they find a new job will likely increase equality and decrease efficiency.

d) People may overconsume healthcare and reduce their effort when searching for a job.

Explanation:

Hope this helps!

5 0
3 years ago
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