Answer:
Purchases= $1,091,000
Explanation:
Giving the following information:
Beginning Raw materials inventory = $549,000
Ending Raw materials inventory= $612,000
The raw materials used in production= $1,028,000.
<u>To calculate the raw material purchased, we need to use the following formula:</u>
Purchases= production + ending inventory - beginning inventory
Purchases= 1,028,000 + 612,000 - 549,000
Purchases= $1,091,000
Answer:
protectionism
Explanation:
The country could overtax import products such as manufactured products in order to protect its own products and industries. This is very common in trade markets. Nowadays, through the globalization and China´s high development protectionism is ending.
Answer:
The variable costing unit product cost was <u>$69.</u>
Explanation:
Variable Product Costing is a situation whereby only the variable costs of production is taking into account to estimating the cost per unit of a product. This implies that none of the fixed cost will be included in the cost of the product.
Based on the explanation above, the variable costing unit product cost to produce a single product by Kray Inc. can be calculated as follows:
Kray Inc.
Calculation of Variable Costing Unit Product Cost
<u>Particulars Amount ($) </u>
Direct materials 40
Direct labor 19
Variable manufacturing overhead 8
Variable selling and administrative expense <u> 2 </u>
Variable cost per unit <u> 69 </u>
Therefore, the variable costing unit product cost was <u>$69.</u>
Answer:
E. All of the steps above are appropriate to take if she suspects identity theft.
Explanation:
Under suspicion of identity theft, it is better to take all the preventive measures listed in the example before the person who has stolen your debit card and checks makes use of them and steals the money in your bank account or makes big purchases.
Answer:
Recognize an income/loan repayment of $1,300, and cancel the debt of $200 from the earlier recognition of income
Explanation:
Swan would only recognize an income/loan repayment of $1,300 having already recognized an initial income of $200 of the $1,500 owed before the death of the customer.
Accounting entries would be as follows.
Debit Bank account: $1,500
Credit income/loan repayment account: :1,300
Credit receivables: $200.
The credit of $200 in receivables would be treated as shown above due to the income of $200 already recognised and which would have been treated as follows when it was recognized,
Dr: receivables $200
Cr. interest earned $200,
