Answer:
$255,500
Explanation:
Prepare a Cost of Goods Manufactured Schedule to determine the cost of goods manufactured.
<u>Cost of Goods Manufactured Schedule</u>
Direct material used $ 75,000
Direct labor $ 93,000
Applied manufacturing overhead $ 70,000
Add Beginning work-in-process inventory $130,000
Less Ending work-in-process inventory ($112,500)
Cost of goods manufactured $255,500
Answer:
balance sheet
Explanation:
A balance sheet is one of the most essential financial statements that helps accountants and managers grasp the financial structure of the company, at a <u>certain point of time</u>.
The balance sheet clearly states the company's assets, liabilities and stockholders' equity, rigorously adhering to the basic accounting equation:
Assets = Stockholder's Equity + Liabilities
The equilibrium of the equation above is non-negotiable; it relies on common sense too. Every company owns things - <em>assets</em>, which were obtained with the aid of a e.g. bank loan - <em>liability, </em>or investor money - <em>stockholders' equity</em>.
These three groups can be further itemized into smaller, concrete accounts. Also, the <em>liquidity principle</em> is applicable in terms of ordering the items in an increasing liquidity order.
The time context is also an important distinction of this specific financial statement. While statements such as the P&L statement refer to <em>a specific time interval</em> (year, quarter...), the balance sheet reflects <em>a specific point of time. </em>
Answer: Junk bonds
Explanation:
Junk bonds are a high-yielding high-risk security, that are issued by a company which is seeking to raise capital quickly to finance a takeover.
Junk bonds represent bonds that are issued by companies that are financially struggling and possess a high risk of not paying the interest or repaying the principal to investors. Junk bonds are a good investment for the investors who need the higher return and those that can also afford the higher risk.
