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lilavasa [31]
3 years ago
6

Suppose you have two credit cards. The first has a balance of $410 and a credit limit of $1,000. The second has a balance of $51

0 and a credit limit of $1,000. What is your overall credit utilization?
Business
2 answers:
NARA [144]3 years ago
5 0

From first credit card which has a credit limit of $1000, you have utilized $410. It means you have consumed

410/1000 =0.41*100= 41% of first card

From second card which has a limit of $1000, you have consumed $510. It means you have utilized

510/1000= 0.51*100= 51% of second card

Overall utilization can be calculated as following:

(46% + 51% )/2= 46%

Afina-wow [57]3 years ago
3 0
You are using $410 + $510 = $920 out of a possible $1000 + $1000 = $2000

Therefore your credit utilization is \frac{920}{2000} =.46

That is, 46%
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6 0
2 years ago
Marshall Enterprises charged the following amounts of overhead to jobs during the year: $20,000 to jobs still in process, $60,00
Readme [11.4K]

Answer:

Dr  Factory Overhead Payable $5,000

Cr                          Cost of Goods Sold $5,000

Explanation:

What we have done?

Cr  Factory Overhead   $5000

What we must do?

Dr Factory Overhead $5000

The entry in the expense account is credited, as said in the question. So what we must do is debit it back and waive off its affect from the cost of sales.

So at the end of the period the company is legally required to close the expenses and revenue accounts in-accordance to International Financial Reporting Standards.

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So the journal entry would be :

Dr  Factory Overhead  $5,000

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3 0
3 years ago
Work in process inventory increased by $20,000 during the current year. Cost of goods manufactured was $180,000. Total manufactu
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Answer:

$200,000

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The work in process process inventory had an increase by $20,000 during the year

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Therefore the total manufacturing costs incurred can be calculated as follows

= cost of goods sold that was sold + work in process inventory increase

= $180,000 + $20,000

= $200,000

Hence the total manufacturing costs that was incurred is $200,000

8 0
3 years ago
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