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3 years ago

Prepare a journal entry for the purchase of office supplies on march 9 for $1,775, paying $275 cash and the remainder on account

1 answer:

6 0

<span>On March 9 office supplies were purchased for a total of $1,775 out of which $275 was paid in cash at the time of purchase with the remainder of $1,500 being added to the account.</span>

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11. Brooke Company desires net income of $720,000 when it has $2,000,000 of fixed costs and variable costs of 60% of sales. Cont

Mila [183]

Answer:

b. $2,720,000

Explanation:

The contribution margin is what is left after subtracting the variable cost from the sales.

From there, the company pays their fixed cost and the rest is net income.

In this case you have a company desiring to get 720,000 net income after paying their 2,000,000 fixed cost

So we come up with with formula:

$Contribution Margin - Fixed Cost = Net Income$

Replacing the know values, we get the unknow value. Like it was a solve for X question:

$X - 2,000,000 = 720,000\\X = 2,000,000 + 720,000\\X = 2,720,000$

8 0

3 years ago

When Apple, Inc. opened retail stores to sell its computers and iPods, this was an example of:

soldier1979 [14.2K]

Answer:

The correct answer is letter "A": forward vertical integration.

Explanation:

Forward integration happens when a business takes over functions that were originally performed by its partners in the supply chain. Forward integration can be horizontal and vertical. Forward horizontal integration takes place when one company takes over another at the same level of the supply chain. In forward vertical integration, a firm takes charge of the businesses located farther down the supply chain.

4 0

3 years ago

Compute cost of goods sold using the following information: Finished goods inventory, beginning $ 540 Cost of goods manufactured

SVEN [57.7K]

un u get the numbers then subtract them and come good with the answer

4 0

3 years ago

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in an effort to entice the c

nirvana33 [79]

I guess the correct answer is conversion rate.

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in effort to entice the customer to make a purchase. Zappos is trying to improve its conversion rate.

4 0

3 years ago

A process cost summary for a production department accounts for all costs assigned to that department during the period plus cos

tigry1 [53]

Explanation:

The process cost shows the summary of the activities related to the production. It includes the cost of goods completed & transferred units and the ending work in process inventory.

So, the given statement is true

The indirect cost are come under the manufacturing overhead cost. So, it would be charged to overhead control account

Thus, the given statement is false.

The direct labor includes that labor which is directly related to the production process of a product. So the single production department is likely to be a direct labor

Thus, the given statement is true.

To record the allocation of overhead, the following journal entry is required

Work in Process Inventory, Baking Dept A/c Dr $24,500

To Factory overhead A/c $24,500

(Being the overhead allocation is recorded)

The computation is shown below:

= Direct labor cost × allocation rate

= $10,000 × 245%

= $24,500

Thus, the given statement is true.

7 0

3 years ago