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2 years ago

LO 4.2Which document lists the inventory that will be removed from the raw materials inventory?

Business

1 answer:

Amanda [17]2 years ago

7 0

Answer:

Material Requisition Form

Explanation:

Material requisition form is a request form generated by production team asking store department to issue material for process. Thus upon receipt of approved material requisition form, store issues the raw material from inventory.

Job cost sheet is not correct answer as it is sheet used by firms using job order costing process to record total cost incurred on a job.

Purchase order is a document used to place order to required goods and services. It is a source document for tracing actual order, goods receipt and invoices raised.

Receiving document denotes the actual quantities of goods received at warehouse.

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If joe and mary smith have money market accounts of $100,000, real estate holdings of $300,000, loans of $25,000, and investment

kirill115 [55]

Answer:410,000

Explanation: 100000+300000+10000

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1 year ago

The accountant at Coronado Company is figuring out the difference in income taxes the company will pay depending on the choice o

Anna11 [10]

Answer:

The difference in tax to be paid between the two methods is $455

Explanation:

In this question, we are asked to calculate the difference in tax for the LIFO and FIFO method.

The matter of importance here is that the tax rate is 35%. We proceed as follows:

For the FIFO income, the tax rate is 35% of 8,600 = 35/100 * 8600 = $3010

For the LIFO method, the tax rate is 35% of $7,300 = 35/100 * 7,300 = $2,555

The difference in tax that would be paid between the two methods is 3010-2555 = $455

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3 years ago

Silver Inc. has budgeted production costs of $3,000,000, budgeted beginning finished goods inventory of $390,000, and budgeted e

Pavlova-9 [17]

Answer:

Budgeted cost of goods sold = $3,150,000

Explanation:

Given:

Budgeted beginning finished goods inventory = $390,000

Budgeted production costs = $3,000,000

Budgeted ending finished goods inventory = $240,000

Find:

Budgeted cost of goods sold

Computation:

Budgeted cost of goods sold = budgeted beginning finished goods inventory + budgeted production costs - budgeted ending finished goods inventory

Budgeted cost of goods sold = $390,000 + $3,000,000 - $240,000

Budgeted cost of goods sold = $3,150,000

4 0

2 years ago

According to Utilitarianism, my own happiness and the happiness of loved ones count more than the happiness of strangers.

8_murik_8 [283]

True

If wrong pls tell me

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3 years ago

Read 2 more answers

Mccrone Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 59 Manu

Karolina [17]

Answer:

$172,000

Explanation:

The solution of net operating income (loss) under variable costing in Year 1 is provided below:-

To find out the net operating income (loss) first we need to follow some steps which are as follows:-

Step 1

Total unit product cost = Direct material + Direct Labor + Variable manufacturing overhead

= $11 + $6 + $4

= $21

Step 2

Gross contribution margin = Sales - (Beginning inventory + variable cost of goods manufactured + Variable cost of goods available for sale - Ending inventory)

= ($59 × 10,000) - ( 0 + ($21 × 11,000) - ($21 × 1000)

= $590,000 - (0 + $231,000 - $21,000)

= $590,000 - $210,000

= $380,000

and finally

Net Operating income = Gross contribution margin - Variable selling and administrative expenses - Manufacturing - Selling and administrative expenses

= $380,000 - (10,000 × $4) - $88,000 - $80,000

= $380,000 - $40,000 - $88,000 - $80,000

= $172,000

To reach we simply put the values into formula.

5 0

2 years ago