Answer:
FV = 2,621,048.23
Explanation:
we will calcualte the future value of an annuity with an geometric progression:
g 0.03
r 0.092
C 5,356 ( we will save next year (52,000 x 1.03) the 10% )
n 39 (we start saving next year)
FV = 2,400,227.319
As we deposit at the first day of the year this will be an annuity-due so we will multiply by (1 +r)
FV = 2,621,048.23
Answer:
Explanation:
The reversing entries are shown below:
a. Salary and wages Payable A/c Dr $4,380
To Salary and wages Expense A/c $4,380
(Being reversing entry passed)
b. Salary and wages Expense A/c Dr $7,560
To Cash A/c $7,560
(Being reversing entry passed)
c. Salary and wages Payable A/c Dr $4,380
Salary and wages Expense A/c Dr $3,180
To Cash A/c $7,560
(Being reversing entry passed and the difference is debited to the Salary and wages Expense Account)
Answer:
<u>Part 1</u>
Direct material cost per equivalent units = $194,560 / 25,600 ounces
Direct material cost per equivalent units = $ 7.60 per ounce
Conversion Cost per equivalent units = $98,340 / 29,800 ounce
Conversion Cost per equivalent units = $3.30 per ounce
<u>Part 2</u>
Completed and Transferred out of production = $2380 + (45,000* $2.20) + (3,600 * $0.65) + (45,000 * $0.65)
= $2,380 + $99,000 + $2,340 + $29,250
= $132,970
Inventory in process, ending = (3000 * $2.20) + (1500 * $0.65)
= $6,600 + $975
= $7,575
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