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irakobra [83]
3 years ago
11

Harper company lends hewell company $40,000 on march 1, accepting a four-month, 6% interest note. harper company prepares financ

ial statements on march 31. what adjusting entry should be made before the financial statements can be prepared?
Business
1 answer:
Ilia_Sergeevich [38]3 years ago
8 0
Given:
march 1: loaned 40,000 to Hewell Company
loan term, 4 months, 6% interest on note. 

On March 31, Harper Company should recognize the interest it will earn from the note of Hewell Company.

40,000 x 6% = 2,400 this is the annual interest
2,400 * 1/12 = 200 monthly interest

March 31
                               Debit         Credit

Interest receivable      200
            Interest Revenue            200

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Manley Co. manufactures office furniture. During the most productive month of the year, 4,500 desks were manufactured at a total
kogti [31]

Answer:

c. $24,750

Explanation:

For computing the fixed cost first we have to determine the variable cost per hour by using high low method which is shown below:

Variable cost per hour = (High total cost - low total cost) ÷ (High desk manufactured - lower desk manufactured)

= ($86,625 - $49,500) ÷ (4,500 desk - 1,800 desk)

= $37,125 ÷ 2,700 desk

= $13.75

Now the fixed cost equal to

= High total cost - (High desk manufactured × Variable cost per hour)

= $ 86,625 - (4,500 desk × $13.75)

= $86,625 - $61,875

= $24,750

5 0
3 years ago
if average demand for invenrory item is 200 units per day lead time is three days and safety stock is 1-- units the reorder poin
Ronch [10]

please do you mean 1 unit for safety stock or 100 units, will solve for both

Answer:when safety stock =1, Reorder point= 601 units

when safety stock =100,  Reorder point= 700 units

Explanation:

Reorder Point (ROP), also called  reorder level, is the point  of inventoryset by a busness  in which it replenishes its stock of items.

given:

Average demand= 200

lead time = 3

when safety stock =1

Reorder point= (Average demand X Delivery lead time ) + Safety stock

                = (200 x 3 ) +1 = 601 units

when safety stock = 100

   Reorder point= (Average demand X Delivery lead time ) + Safety stock

                = (200 x 3 ) +100 = 700 units              

6 0
3 years ago
A friend offers you a Coke, a Dr. Pepper, or a 7-Up. You don't like Coke, so after some thought, you take the Dr. Pepper. What i
Leokris [45]
<span>An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.</span>
4 0
3 years ago
Harry Carey Hats had the following department data: Work in process, physical units, April 1 7,000 Completed and transferred out
OLga [1]

Answer:

(A) 74,400

Explanation:

The computation of the equivalent unit is shown below:

= (Completed and transferred units × completed percentage) + (ending work in progress units × completed percentage)

= (72,000 units × 100%) + (8,000 units × 30%)

= $72,000 units + 2,400 units

= $74,400 units

For computing the equivalent units,we have to consider both the units which are mentioned in the question.

8 0
3 years ago
Quickbrush Paint Company is developing a linear program to determine the optimal quantities of ingredient A and ingredient B to
Sonbull [250]

Answer:

A. 0.9x + 0.3y ≤ 10,000

Explanation:

Given

x \to oil based plant

y \to water based plant

The data can be represented in tabular form as:

\begin{array}{ccc}{} & {A} & {B}  & {x} & {90\%} & {10\%}  & {y} & {30\%} & {70\%} & {} & {10000} & {5000}\ \end{array}

Considering only A, we have the following constraints:

A \to 90\% * x + 30\% * y

A \to 0.9x + 0.3y

Since the company currently has 10000 of A.

The above constraint implies that, the mixture cannot exceed 10000.

So, we have:

A \to 0.9x + 0.3y \le 10000

<em>Hence, (A) is correct</em>

4 0
3 years ago
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