Answer:
the journal entry are given below
Explanation:
given data
On January 10
purchase merchandise = $1,700
On February 10
amount due = $1,700
On February 12
Molly pays = $1,100
On March 10
amount due & interest = 1% per month
solution
Interest revenue to be recorded on March 10 that is calculated as
Unpaid balance as of February 12 = $1700 - $1100 = $600
and interest rate = 1% per month
so
Interest revenue = $600 × 1% = $6
so the journal entry are
date account title debit credit
January 10 account receivable $1700 sales revenue $1700
February 12 cash $1,100
sales revenue $1100
March 10 account receivable $6
interest revenue $6
Don't know what you're trying to say but all that popped in my head was tax
Answer:
a. $2,020 Favorable
Explanation:
The computation of spending variance for direct materials in April is shown below:-
For computing the spending variance for direct materials in April first we need to find out the actual price per unit which is here below:-
Actual price per unit = Actual direct material ÷ Actual units purchased
= $49,086 ÷ $5,060
= $9.70
Spending variance for direct materials in April = (Actual price per unit - Standard price per unit) × Actual quantity
= ($9.70 - $10.10) × 5,060
= -$0.4 × 5,060
= $2,024 Favorable
which is closest to $2,020 Favorable.
Answer:
<em>Cost per equivalent unit for conversion cost = $116.66</em>
<em> </em>
Explanation:
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required to a complete a set of work is done in the period under consideration.So there is no separation of the completed units into opening inventory and fully worked.
</em>
To determine the cost per equivalent unit, we use the formula below:
<em>Cost per equivalent unit = $70,000/600</em>
<em> = $116.66</em>
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Answer:
c. $15,000
Explanation:
The explanation for this question is given in the attachment below.
