Answer:
![\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccccc%7D%26Cost%26Assembly%26Setting%20Up%26Other%26Total%5C%5Cwages%26349%2C000%26226%2C850%2669%2C800%2652%2C350%26349%2C000%5C%5CDepreciation%26290%2C000%26101%2C500%2658%2C000%26130%2C500%26290%2C000%26Utilities%26199%2C000%2629%2C850%26149%2C250%2619%2C900%26199%2C000%26Total%26838%2C000%26358%2C200%26277%2C050%26202%2C750%26838%2C000%26%5Cend%7Barray%7D%5Cright%5D)
Explanation:
We mulitply each line by the stated percent of each activity
<u>for example</u>
Setting Up % x Utilities= Utilities cost assigned to setting up
199,000x 75% = 149,250
Assembly % Depreciation= Depreciation cost assigned to assembly
35% x 290,000 = 101,500
This process must be done to assign each portion of cost.
Answer:
It is 6.58%
Explanation:
Debt-Equity Ratio = Debt/Equity
0.68= Debt/358,200
Debt = 0.68 x 358,200
Debt = $243,576
Total Asset Turnover = Revenue/ Total Asset
Total Assets = Debt + Equity = $243,576+ $358,200=$601,776
1.2= Revenue/601,776
Revenue= 1.2 x 601,776
=$722,131.20
Profit Margin = Net income/ Revenue x 100%
= $47,500/$722,131.20 x100%
= 6.58%
Yes you have to credit a fact if it doesn't involve numbers
Answer:
Explanation:
A. The journal entries are shown below:
On September 12
Investment A/c - Bengals Inc A/c Dr $598,220 (42,730 × $14)
To Cash A/c $598,220
(Being the acquired investment including brokerage commission is recorded)
On December 31
Unrealized gain or loss on available-for-sale securities A/c Dr $85,460
To Valuation allowance for available-for-sale securities $85,460
(Being decline in share value is recorded)
The computation is shown below:
= 42,730 shares × ($14 per share - $12 per share)
= 42,730 shares × $2 per share
= $85,460
B. The unrealized gain or loss for available-for-sale investments is shown in the Stockholder equity section on the balance sheet. It is to be shown in the negative item in the equity section.
Answer:
False.
Explanation:
To close the underapplied Manufacturing Overhead account requires that the Cost of Goods Sold is debited, say with $100 while the Manufacturing Overhead account is credited with the same amount. Underapplied Manufacturing Overhead account means that a debit balance is left after applying the overhead to production. To close this debit, therefore, a credit entry is required to the manufacturing overhead account. The corresponding debit entry goes to the Cost of Goods Sold, or this may be apportioned among Cost of Goods Sold, Finished Goods Inventory, and Work-in-Process, as may be the case.
