The ________ is the channel from raw materials to components to final products that are carried to final buyers.

densk [106]

1. is true, and the 2. is false

3 0

4 years ago

In a job order cost system, it would be correct in recording the purchase of raw materials to debit Finished Goods Inventory. Ra

Brilliant_brown [7]

Answer:

In a job order cost system, it would be correct in recording the purchase of raw materials to debit

Raw Materials Inventory.

Explanation:

When materials are initially purchased, the cost is debited to the Raw materials inventory account and credited to either Cash or Accounts Payable, depending on the trade terms. When the materials are assigned to work in process, it is debited to Work in Process Inventory and to Jobs and credited to Raw materials Inventory. Finished Goods Inventory is only debited for completed jobs. Manufacturing Overhead is debited for all indirect costs.

4 0

4 years ago

On a shopping trip, Melanie decided to buy a light blue coat made from woven fabric. A tag on the coat stated that the price wa

Mekhanik [1.2K]

Answer:

The correct answer is option B.

Explanation:

Melanie decided to buy a coat at a price of $79.95.

When she brought the coat to the store's sales clerk, Melanie was told that the coat was on sale, and she would pay 20 percent less than the price on the tag.

She got a discount worth $15.99.

The consumer surplus, in this case, will be at least $15.99.

This is because the consumer surplus is the difference between the price the consumer is willing to pay for a good and the price he/she actually pays.

Melanie paid $15.99 less than the price but she may have been willing to pay more than the initial price. So the consumer surplus will be at least $15.99.

3 0

4 years ago

The Canton Corporation shows the following income statement. The firm uses FIFO inventory accounting.

Inessa05 [86]

Answer:

The Canton Corporation

a. The After-tax income for 2014 is:

= $94,719.

b. The after-tax income increased by 30.93% as a result of a 10% increase in the sale price.

c. The after-tax income for 2015 is:

= $51,530.

Explanation:

a) Data and Calculations:

CANTON CORPORATION

Income Statement for 2013

Sales $340,100 (17,900 units at $19.00)

Cost of goods sold 205,850 (17,900 units at $11.50)

Gross profit $134,250

Selling and administrative expense 20,406

Depreciation 10,500

Operating profit $103,344

Taxes (30%) 31,003

After-tax income $72,341

CANTON CORPORATION

Income Statement for 2014

Sales $374,110 (17,900 units at $20.90)

Cost of goods sold 205,850 (17,900 units at $11.50)

Gross profit $168,260

Selling and administrative expense 22,446.60 (6% of sales)

Depreciation 10,500

Operating profit $135,313.40

Taxes (30%) 40,594.02

After-tax income $94,719.38

Increase in after-tax income:

After-tax income in 2014 = $94,719

After-tax income in 2013 = $72,341

Increase in after-tax income $22,378

Percentage increase = $22,378/$72,341 * 100 = 30.93%

Income Statement for 2015

Sales $317,993.50 (17,900 units at $17.77)

Cost of goods sold 214,800.00 (17,900 units at $12.00)

Gross profit $103,193.50

Selling and administrative expense 19,079.61 (6% of sales)

Depreciation 10,500

Operating profit $73,613.89

Taxes (30%) 22,084.17

After-tax income $51,529.72

After-tax income rounded to the nearest whole dollar = $51,530

5 0

3 years ago

Tina's aquarium has a capacity of 40 gallons of water she plans to stock her aquarium with 0.25 inches of fish per quart of Capa

fomenos

Answer:

The number of mollies will be 20

Explanation:

Capacity of aquarium is 40 gallons

and

1 gallon = 4 quart

Therefore, 40 gallons will be:

40 gallons = 4 × 40

= 160 quart

Now, As per question,

0.25 inches of fish need 1 quart capacity

1 quart = 0.25 inches fish

So,

160 quart capacity will be:

= 0.25 × 160

= 40 inches fishes

And the size of mollies fish is 2 inches

The, the number of mollies fish will be:

Number of mollies = Total size of fish / Size of mollies fish

= 40 / 2

= 20

Therefore, the number of mollies will be 20.

7 0

4 years ago