Answer:
Direct material price variance= $20,100 unfavorable.
Explanation:
Giving the following information:
Direct materials 7 pounds at $0.60 per pound = $ 4.20
During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.
Answer:
- 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.
Accounts Rec T-Account
$ 306.673 Debit
$ 290.750 Credit
$ 7.059 Credit
$ 8.864 Debit Balance
Allowance for Doubtful Accounts T-Account
$ 7.059 Debit
$ 4.775 Credit
$ 2.284 Debit Balance
- 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.
$ 4.775 Dr Bad Debt Expense
- 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.
$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts
$ 8.864 Dr (Debit) Accounts Receivable
Explanation:
Dr Accounts Receivable $ 306.673
Cash $ 290.750
Cr Accounts Receivable $ 290.750
Dr Allowance for Uncollectible Accounts $ 7.059
Cr Accounts Receivable $ 7.059
- Bad debt expense adjustment
Dr Bad Debt Expense $ 4.775
Cr Allowance for Uncollectible Accounts $ 4.775
- 1-b. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year
Dr Bad Debt Expense $ 4.775
- 1-c. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.
Dr Allowance for Uncollectible Accounts $ 2.284
Dr Accounts Receivable $ 8.864
Answer:
a. 5.87 percent
Explanation:
Annual coupon = 1000*6.5% = $65
Yield to maturity = [Annual coupon + (Face value-Present value)/time to maturity] / (Face value+Present value)/2
Yield to maturity = [65 + (1000-1,056)/13] / (1000+1,056) / 2
Yield to maturity = [65 + (-56/13)] / 2056/2 ]
Yield to maturity = {65 - 4.31] / 1028
Yield to maturity = 60.69 / 1028
Yield to maturity = 0.0590369649805447
Yield to maturity = 5.90%
Answer:
a) $186,000
Explanation:
The computation of the total manufacturing cost is shown below:
= Direct material cost + direct labor cost + manufacturing overhead applied
= $62,000 + $78,000 + $46,000
= $186,000
Hence, the total manufacturing cost is $186,000
Therefore the correct option is A.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
Gross profit per jet = Selling price - Production cost per jet
Gross profit per jet = $45 million - $40 million
Gross profit per jet = $5 million
Gross profit = $5 million x 20 jets
Gross profit = $100 million
Explanation:
Gross profit = Sales - Production cost. In this case, we need to calculate gross profit per unit and multiply the gross profit per unit by number of jets sold.
