Information managers are responsible for getting products from producers to consumers.

The following information pertains to Carla Vista Company.

Setler [38]

Answer:

Bank account reconciliation:

Bank account balance $7,738

+ Deposits in transit $3,110

- Outstanding checks $696

Reconciled bank account $10,152

Cash account reconciliation:

Cash account balance $7,774

+ Note (or account) collected $2,426

- Bank fees $48

Reconciled cash account $10,152

Adjusting journal entries:

July 31, 202x, bank fees expense

Dr Bank fees expense 48

Cr Cash 48

July 31, 202x, bank fees expense

Dr Cash 2,426

Cr Notes (or accounts) receivable 2,426

3 0

3 years ago

In the 1920s, many rural banks failed because

Paul [167]

In the 1920s, many rural banks failed because of the failure of the farms to produce the bumper crops they were producing previously. The farmers had invested heavily in machinery and storage facilities. They drop in production meant that the investment did not recover and they failed to pay their loans back.

7 0

3 years ago

Finding Unknown Values in the Cost of Goods Manufactured Report [LO 2-3, 2-6]Mulligan Manufacturing Company uses a job order cos

KiRa [710]

Answer:

For Case 1:

Manufacturing overhead applied = 27,000

Total current manufacturing costs = 60,000

Cost of goods manufactured = 64,000

Cost of goods sold = 61,100

For Case 2:

Direct labor = 7,667

Direct material used = 8,333

Beginning work in process inventory = 26,400

Ending finished goods inventory = 15,000

For Case 3:

Direct labor = 5,760

Manufacturing overhead applied = 8,640

Ending work in process inventory = 10,499

Beginning finished goods inventory = 16,199

Explanation:

Note: The data in the question are merged together. The data are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

Also note: See the attached excel file for the table with the computed figure in bold red color.

In the attached excel file, the following calculations are employed:

For Case 1:

Since overhead applied to products at a rate of 150 percent of direct labor cost, we have:

Manufacturing overhead applied = Direct labor * 150% = 18,000 * 150% = 27,000

Total current manufacturing costs = Direct material used + Direct labor + Manufacturing overhead applied = 15,000 + 18,000 + 27,000 = 60,000

Cost of goods manufactured = Total current manufacturing costs + Beginning work in process inventory - Ending work in process inventory = 60,000 + 9,900 - 5,900 = 64,000

Cost of goods sold = Cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory = 64,000 + 4,700 - 7,600 = 61,100

For Case 2:

Since overhead applied to products at a rate of 150 percent of direct labor cost, we have:

Direct labor = (Manufacturing overhead applied / 150%) * 100% = (11,500 / 150%) * 100% = 7,667

Direct material used = Total current manufacturing costs - Manufacturing overhead applied - Direct labor = 27,500 - 11,500 - 7,667 = 8,333

Beginning work in process inventory = Cost of goods manufactured + Ending work in process inventory - Total current manufacturing costs = 44,000 + 9,900 - 27,500 = 26,400

Ending finished goods inventory = Cost of goods manufactured + Beginning finished goods inventory - Cost of goods sold = 44,000 + 12,000 – 41,000 = 15,000

For Case 3:

Since overhead applied to products at a rate of 150 percent of direct labor cost, we can let:

Direct labor = x

Therefore, we have:

Manufacturing overhead applied = x * 150%

Since,

Total current manufacturing costs = Direct material used + Direct labor + Manufacturing overhead applied ……………………….. (1)

Where;

Total current manufacturing costs = 28,500

Direct material used = 14,100

We can therefore substitute the relevant values into equation (1) and solve for x as follows:

28,500 = 14,100 + x + 1.5x

28,500 - 14,100 = 2.5x

14,400 = 2.5x

x = 14,400 / 2.5

x = 5,760

Therefore;

Direct labor = x = 5,760

and

Manufacturing overhead applied = x * 150% = 5,760 * 150% = 8,640

Ending work in process inventory = Total current manufacturing costs + Beginning work in process inventory - Cost of goods manufactured = 28,500 + 8,000 - 26,001 = 10,499

Beginning finished goods inventory = Cost of goods sold + Ending finished goods inventory - Cost of goods manufactured = 36,000 + 6,200 - 26,001 = 16,199

Download xlsx

xlsx

pdf

4 0

3 years ago

To introduce Halo 7, a new video game, the director of marketing for Microsoft Game Studios created a complex marketing scheme t

strojnjashka [21]

Answer: E- viral marketing

Explanation: Viral marketing is a business technique that utilizes a public system at the current time to improve a commodity. It means the way customers disperse news and data about a commodity with other individuals.

In this case, Microsoft Game Studios built a complicated marketing strategy that started on the internet with the hope that individuals who went to the website would send other people to the website so as to make the business go viral.

Viral marketing may be done in the aspect of a short portion of media that uses electronics to access the content which comes in audio or video clip, pictures or websites.

6 0

3 years ago

Read 2 more answers

"which mode of transportation would cost the least per ton mile?"

IRINA_888 [86]

The answer is letter d. water. Water would cost least per ton mile, since transportation through water depends on the materials or watercraft you will be using. If an individual is using an ordinary boat, a boat that is being rowed, it would cost less, than a boat being rowed by an electrical engine.

8 0

3 years ago