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FinnZ [79.3K]
2 years ago
9

he following accounts are from last year's books of Sharp Manufacturing: Raw Materials Bal 0 (b) 156,000 (a) 169,000 13,000 Work

In Process Bal 0 (f) 518,000 (b) 133,000 (c) 170,000 (e) 215,000 0 Finished Goods Bal 0 (g) 470,000 (f) 518,000 48,000 Manufacturing Overhead (b) 23,000 (e) 215,000 (c) 27,000 (d) 158,000 7,000 Cost of Goods Sold (g) 470,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year
Business
1 answer:
arlik [135]2 years ago
3 0

Answer:

$133,000

Explanation:

The amount of direct material used for the year is $133,000 plus the direct material used is also debited to work in process. And the $133,000 is come from work in process account in (B)

All other information i.e to be given is not relevant. Hence, ignored it

And, the direct material used is come from

= Opening inventory + purchase of raw material - ending inventory

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Presented below are transactions related to Novak Corp.
bearhunter [10]

Answer:

1) December 3, 202x, merchandise sold on account to Sarasota Corp., credit terms 4/10, n/30, FOB shipping point.

Dr Accounts receivable 644,700

    Cr Sales revenue 644,700

Dr Cost of goods sold 363,600

    Cr Merchandise inventory 363,600

2) December 8, 202x, sales allowance granted to Sarasota Corp.

Dr Sales returns and allowances 27,400

    Cr Accounts receivable 27,400

Sales returns and allowances is a contra revenue account that decreases sales revenue.

3) December 13, 202x, invoice collected from Sarasota Corp.

Dr Cash 592,608

Dr Sales discounts 24,692

    Cr Accounts receivable 617,300

Sales discounts is another contra revenue account that decreases sales revenue.

6 0
3 years ago
For the year, Peggy Grey's Cookies had net income of $8,110. The firm paid out 30 percent of the net income to its shareholders
slamgirl [31]

Answer:

$2,933

Explanation:

The company had a net income of $8,110, and paid 30% of it to its shareholders, therefore:

$8,110 x 0.30 = $2,433.

But it also repurchased $500 worth of common stock, and this is to be distributed among the sharedholders as well, thus:

$2,433 + $500 = $2,933

8 0
3 years ago
Company X currently has a capital structure that consists of 40% equity, 20% preferred equity, and 40% of debt. The risk-free ra
Sindrei [870]

Answer:

14.58%

Explanation:

WACC = weight of equity x cost of equity + weight of debt x cost of debt x (1 - tax rate) + weight of preferred equity x dividend yield

According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)

r= 3% + 1.1 x 8 = 11.8

equity = 0.4 x 11.8% = 4.72

d = 0.4 x 5 x (1 -0.21) = 1.58

p = 0.2 x 6 =  1.2

11.8 + 1.58 + 1.2 =

8 0
3 years ago
Which market structure is most prevalent in reality? Explain.​
kaheart [24]

Answer:

Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information, no transaction costs, where there are a large number of producers and consumers competing with one another. Perfect competition is theoretically the opposite of a monopolistic market.

Explanation:

Pls mark me the Brainliest..pls..

5 0
2 years ago
Read 2 more answers
Find the monthly house payment necessary to amortize the following loan. In order to purchase a home, a family borrows $70,000 a
enot [183]

Answer:

Monthly payment is $840.12

Explanation:

we are given: $70000 which is the present value of the loan Pv

                       12% compounded monthly where the interest rate is adjusted to monthly where i = 12%/12

the period in which the loan will be repaid in 15years which contain 15x12 = 180 monthly payments which is n

we want to solve for C the monthly loan repayments on the formula for present value as we are looking for future periodic payments.

Pv = C[((1- (1+i)^-n)/i] thereafter we substitute the above mentioned values and soolve for C.

$70000= C[((1-(1+(12%/12))^-180))/(12%/12)] then compute the part that multiplies C in brackets and divide by it both sides.

$70000/83.32166399 = C  then you get the monthly loan repayments

C = $840.12 which is the monthly repayments of the $70000 loan.

3 0
3 years ago
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