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Nesterboy [21]
3 years ago
10

Alpha Company manufactures computers. On July 1, Alpha had $75,000 of materials in inventory. During the month of July, the comp

any purchased $320,000 of materials. On July 31, materials inventory equaled $43,000. Determine the cost of direct materials used in production for the month of July.
Business
1 answer:
Zigmanuir [339]3 years ago
6 0

Answer:

$352,000

Explanation:

Alpha Company reported the following figures:

Inventory on July 1 = $75,000

Inventory on July 31 = $43,000

Purchases for the month = $320,000

Cost of Direct material used = Inventory on July 1 + Purchases for the month - Inventory on July 31

Cost of Direct material used = $75,000 + $320,000 - $43,000

Cost of Direct material used = $352,000

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When a vendor creates a website & sells items that they do not maintain in stock, this practice is known as drop-shipping.

Some key features of drop shipping are-

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7 0
1 year ago
Fred contributes cash of $350,000 to Strumble Partnership for his 50% interest in the partnership. For his 50% interest Gary con
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Answer:

Gary's Basis in the partnership interest is $155,000

Explanation:

Particulars                                                                                Amount ($)

Adjusted Basis Of Land                                                          250000

Mortage*Share In Percentage ($200000*50%)                    (100000)

Additional Borrowing*Share In Percentage ($50000*50%)   (25000)

#Difference*Share In Percentage ($100000-$40000)*50%     30000

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Difference:

Net Income                                                                                   100000

Distribution Of Each Partner*2 ($20000*2)                                   (40000)

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