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Alenkasestr [34]
3 years ago
11

Categorize each transaction according to the U.S. account to which it belongs and the direction the money flows.

Business
1 answer:
Shalnov [3]3 years ago
3 0

Answer:

1. An Australian company buys steel from a US Firm

Account: Current Account

Direction of Flow: Payment to foreigners

2. The federal reserve buys $252 billion worth euros

Account: Financial Account

Direction of Flow: Payment to foreigner

3. Profit earned by a US based mining company operating in Mexico  

Account: Current account

Direction of Flow: Payment from foreigners

4. An English company buy a US confectionary manufacturer

Account: Financial Account

Direction of Flow: Payment from Foreigners

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At a restaurant the cost for a breakfast taco and a small glass of milk is $2.10. The cost for 2 tacos and 3 small glasses of mi
aliya0001 [1]

Answer:

m=$0.95

t=$1.15

Explanation:

Let m=cost of milk

t=cost of taco

t+m=$2.10 (1)

2t+3m=$5.15 (2)

From (1)

t=$2.10-m

Sub into (2)

2($2.10-m)+3m=$5.15

$4.2-2m+3m=$5.15

$4.2+m=5.15

m=$5.15-$4.2

m=$0.95

Sub value of m into (1)

t+m=$2.10

t+$0.95=$2.10

t=$2.10-0.95

t=$1.15

4 0
3 years ago
A restaurant owner in the 1950s does not feel negatively toward African Americans but refuses to serve them in his restaurant be
Minchanka [31]

Answer:

Unprejudiced discriminator.

Explanation:

Unprejudiced discriminator: This is referred to as the people who do not have the prejudice of their own, however, they act when needed or when it is convenient for them to discriminate as their decision is based on other people´s prejudice or socially motivated.

In the given case, a restaurant owner does not discriminatory feelings toward African American, however, due to social pressure, he is forced to discriminate as he refuses to serve them in his restaurant, which is a case of the unprejudiced discriminator.

6 0
3 years ago
A company uses 10000 pounds of materials for which it paid $2 a pound. The materials price variance was $5000 unfavorable. What
boyakko [2]

Answer:

$1.5 per pound

Explanation:

The computation of the material price variance is shown below:

Material price variance = Actual Quantity ×  Actual Price - Actual Quantity × Standard Price

$5,000 = 10,000 pounds × $2 - 10,000 pounds × Standard price

$5,000 = $20,000 - 10,000 pounds × Standard price

So, the standard price would be

= $15,000 ÷ 10,000 pounds

= $1.5 per pound

7 0
3 years ago
AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, th
mixer [17]

Answer:

AccuBlade Castings Inc.

Casting Department

a. Journal Entries for:

1. The materials charged to production:

Debit WIP $350,000

Credit Raw materials $350,000

To record the cost of materials charged to production.

2. The conversion costs charged to production:

Debit WIP $49,600

Credit Direct Labor $19,840

Credit Manufacturing overhead $29,760

3. Debit Machining Department $402,827

Credit WIP $402,827

To record the transfer of completed units to the machining department.

b. Work-in-Process - Casting Department balance = $29,616

c. The change in the costs per equivalent unit for direct materials and conversion from April:

                                                 Direct Materials              Conversion

April cost per equivalent unit        $132.00                    $18.00

May cost per equivalent unit         $139.33                    $19.89

Change in cost per equivalent unit  $7.33 increase       $1.89 increase

The cost per equivalent unit increased in both direct materials and conversion for May when compared to April's.

Explanation:

a) Data and Calculations:

                         Units

Beginning WIP    230

Started             2,500

Transferred     2,530

Ending WIP        200

Equivalent units of production:

                         Units  Direct Materials  Conversion

Transferred  2,530       2,530 (100%)    2,530 (100%)

Ending WIP     200           200 (100%)         88 (44%)

Total equivalent unit    2,730                 2,618  

Cost of production:

                       Direct Materials             Conversion               Total

Beginning WIP$30,360 (230*$132)   $2,484 (230*60%*$18)  $32,844

Started           350,000 (2,500*$140) 49,600 (2,500*$19.44) 399,600

Total costs    $380,360                    $52,084                         $432,444

Cost per equivalent unit:

                                   Direct Materials      Conversion

Total costs                        $380,360            $52,084

Equivalent units                   2,730                 2,618

Cost per equivalent unit   $139.33              $19.89

Allocation of production costs:

                                       Direct Materials                Conversion              Total

Units transferred out  $352,505(2,530*$139.33) $50,322 (2,530*$19.89) $402,827

Ending WIp                      27,866(200*$139.33)        $1,750 (88*$19.89) $29,616

Total costs                  $380,371                             $52,072                    $432,443

7 0
3 years ago
On January 1, 2019, Sunland Company granted Sam Wine, an employee, an option to buy 1,000 shares of Sunland Co. stock for $30 pe
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