Answer:
The Correct answer is "The Company’s cost of branded pair sold in the Asia-Pacific region was barely below the industry average".
Explanation:
At the point when the working benefits of the Company's Cost of branded pair sold in the Asia-Pacific district is below the normal of industry-high qualities, the organization's expense of branded pair sold in that area turns out to be subsequently a legitimate sign that there is positively Company's too high relative expense in atleast one components that it enjoys.
Answer: D. Heidi's share of profits is split among the remaining 3 partners.
Explanation: A general partnership is a form of business arrangement by which two or more individuals agree create a business, sharing in all assets, profits, and financial and legal liabilities. However, unless there is a signed written agreement between partners when starting the business, with a clause setting out what would happen on the occurrence of death, the general partnership dissolves after the death of a partner. If the partnership terminates, then the assets and outstanding liabilities are all sold and the proceeds are divided equally among the partners. Therefore, Heidi's share of profits is split among the remaining 3 partners.
Answer:
Equivalent units of production = 33,500 units
Explanation:
Given:
Beginning work in progress = 1200 units
Transfer unit = 26,300 units
Ending work in progress = 9000 units (50% complete)
Find:
Equivalent units of production
Computation:
Equivalent units of production = Units transferred + Units in ending work in process
Equivalent units of production = (26,300) + (9,000 × 80%)
Equivalent units of production = (26,300) + 7,200
Equivalent units of production = 33,500 units
Answer:
Dr Accounts Payable 9200 Cr Cash 9016 Cr Inventory 184
Explanation:
The payment terms of 2/10, n/45 mean that if paid within 10 days the company is entitled to a 2% discount. Otherwise full payment is required within 45 days.
Since we're settling the account within 10 days ( 7 days after purchase ) we are entitled to a 2% discount.
Originally the inventory was recorded at 9200 Dr and a Cr to Accounts payable of 9200.
The day the invetory is paid we will record the following (August 10)
Dr Accounts Payable $9200
Cr Cash/Bank $9016
Cr Inventory $184
Since we're using the perpetual inventory system the actual cost of inventory is 9016 and not 9200. Thus inventory is now recorded at 9016. The cast amount is the actual amount used to settle the account after the 2% discount was applied.
Answer:
Hie your question has missing information, i tried to look it up online but i could not find it.
Here below is some explanation on the g part of your question on the treatment of over or under applied overhead on the financial statements.
At the end of the reporting period, the entity compares its actual manufacturing overhead to its applied manufacturing overhead (used in determining product cost)
<u>under- applied or over- applied</u>
If actual manufacturing overhead > applied manufacturing overhead, the overheads are under- applied.
and
If actual manufacturing overhead < applied manufacturing overhead, the overheads are over- applied.
<u>reporting on the financial statements</u>
under- applied are added to the cost of sales in the trading account. this increases the costs of sales amount.
under- applied are deducted from the cost of sales in the trading account. this decrease the costs of sales amount
<em>Alternatively,</em>
under -applied overheads are allocated to inventory balances including cost of sales and added to the total of the balances as the end of the period.
and
over -applied overheads are allocated to inventory balances including cost of sales and deducted from the total of the balances as the end of the period.