Answer:
Work in Process Inventory account at the end of September is $1,950
Explanation:
As all jobs at the beginning of september in the balance of Work in progress were finished, it's costs are now in Finished Goods Inventory. So are too, the two jobs started and finished during September. The Works in Process account records materials, labor and structure costs of order not finished yet at the end of the month.
At the end of september only Job 850 is not finished. The sum of materials, direct labor and overhed that is $1.950, is the balance of Work in Process Inventory account at the end of September.
Answer:
Group buying platform
Explanation:
Group buying platform is also known as collective buying and is when the prices of goods and services are significantly reduced on the condition that a minimum number of buyers make purchase.
Usually there is a deal of the day displayed that is activated when the minimum number of buyers has been reached.
In this scenario Buyline has a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced.
This is a group buying platform
Answer:
a. Supplies Expense $3,700Supplies $3,700
Explanation:
The entries required when supplies are purchased is
Debit Supplies account
Credit cash/accounts payable
At the point of use of these supplies, the entries required are
Debit Supplies expense account
Credit supplies account
Hence the supplies used
= $5,000 - $1,300
= $3,700
Entries to be posted to adjust
Debit Supplies expense account $3,700
Credit supplies account $3,700
Answer:
True
Explanation:
In Indirect exporting the company sells its product to an intermediary who sales either directly to customer or to the wholesaler. Company require no capital investment therefore there no involvement of equity investment. Low risk because all the gains or losses are transferred to intermediary by selling the product. Low rate of return due to intermediary return portion decrease the contribution from the sale of product. There is little control over the market because of the company's absence in foreign market.
