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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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Required information The Foundational 15 [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the questions

Vsevolod [243]

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

Variable costing income statement:

Total unitary variable production cost= (24 + 16 + 2 + 3)= $45

Sales= 73*51,000= 3,723,000

Total variable cost= 51,000*45= (2,295,000)

Contribution margin= 1,428,000

Fixed manufacturing overhead= (784,000)

Fixed selling and administrative expense= (672,000)

Net operating income= (28,000)

Absorption costing income statement:

Unitary production cost= (24 + 16 + 2) + (784,000/56,000)

Unitary production cost= $56

Sales= 73*51,000= 3,723,000

COGS= 51,000*56= (2,856,000)

Gross profit= 867,000

Total selling and administrative= 672,000 + 3*51,000= (825,000)

Net operating income= 42,000

The difference between both methods is the fixed manufacturing overhead allocated in ending inventory.

6 0

3 years ago

Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat

gtnhenbr [62]

Answer is D. remain at $30,000.

Explanation:

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings, the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

6 0

3 years ago

In the workplace today, more emphasis is being put on mental health. But sometimes, employees don't want to be seen as being una

KonstantinChe [14]

Answer:

12346f

Explanation:

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8 0

2 years ago

Price inflation:_______.

expeople1 [14]

Answer:

c. courages investment by increasing the uncertainty about future returns

Explanation:

Inflation refers to the increase in the price level of the goods

The price inflation reflects that there is a rise in the price of the goods and services over a particular period of time lets say for one year. It can arise when the raw material cost during the process of production increased that push the price in upward

It also increased the uncertainty with respect to the future returns through investment

Hence, the correct option is c.

5 0

3 years ago

A stock has a market price of $46.10 and pays a $2.40 annual dividend. what is the dividend yield? 4.13 percent 4.84 percent 5.2

hichkok12 [17]

To solve:
Dividend yield = Annual Dividend / Market Price
Dividend yield = $2.40 / $46.10
Dividend yield = 0.0521
Then we are going to multiply by 100 to get the total in a percent
Dividend yield percent = (0.0521)(100)
Dividend yield = 5.21%

6 0

3 years ago