Answer:
Following are the solution to this question:
Explanation:
In point a:
Journal Entry :
Account Dr Cr.
Goods completed 
Processing work
Complete total labour costs
In point b:
Uncompleted jobs cost:
Answer:
Unitary cost= $56
Explanation:
Giving the following information:
Variable manufacturing overhead $15
Direct materials $13
Direct labor $17
Fixed manufacturing overhead $12
Fixed marketing and administrative $11
Under absorption costing, the fixed overhead is allocated to the product cost:
Unitary cost= direct material + direct labor + variable overhead + fixed overhead
Unitary cost= 13 + 17 + 15 + 11= $56
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer: Managerial Accounting
Explanation:
Managerial accounting refers to the preparation of reports and analysis from the company's accounting information to enable managers decide the ways to go with a company.
This type of accounting is for internal use and so is not subject to the kind of scrutiny that financial accounting gets from accounting bodies such as IASB and the FASB.
An example would be the Supply Manager may ask for a report to be made showing them the increase in supply costs for the past decade from their preferred supplier to enable them make a decision on if to find a new supplier.
Answer:
$2,900 Increase
Explanation:
Considering the transaction
- Bassett sold inventory that had cost the company $1,400 for $4,300 on accounts receivable - Here, inventory reduces by $1,400 while accounts receivable increase by $4,300. This leaves a net impact of $2,900 (4300-1400) on total assets.
Hence the results of this one transaction is an increase of total assets by $2,900.
