Answer:
Cutting department= 9.9%
Explanation:
Giving the following information:
Using the direct method, Pone Hill Company allocates Janitorial Department costs based on square footage serviced.
Square Feet
Janitorial Department 100
Cafeteria Department 10,000
Cutting Department 2,000
Assembly Department 8,000
Total square feet= 20,100
Cutting department= 2,000/20,100= 9.9%
<span>The
equilibrium price is basically the ideal price that is determined
when the demand and the supply for an item is equal. If you place the
price bellow the equilibrium price, the price of the product will be
lower than what the market is willing to pay, and as result you will
have surplus of the item in the market.</span>
<span>The correct answer is b.</span>
Answer:
The answer is: $100,000
Explanation:
Under LIFO (last in, first out) costing method, we use the oldest costs are used to determine the ending inventory:
We were given the following data:
- Jan. 1: 8,000 purchased at $11 per unit
- June 19: 13,000 purchased at $12 per unit
- Nov. 8: 5,000 purchased at $13 per unit
If the ending inventory had 9,000 units, then its total cost is:
Ending inventory = (8,000 units x $11 per unit) + (1,000 units x $12 per unit)
Ending inventory = $88,000 + $12,000 = $100,000
Answer:
See the explanation.
Explanation:
Account receivable Rondo Distributors debit $1,200
Sales revenue credit $1,200
Note: To record the merchandise sales on account. As the company used the periodic inventory system, we do not need to give the cost of goods sold journals.
Purchase debit 10,000
Accounts payable credit 10,000
Note: To record the purchase on account.
Delivery expense debit $525
Cash credit $525
Note: To record the payment of the delivery expense.
