Answer:
$67,000
Explanation:
Remember that,
Cost of Goods Manufactured = Beginning WIP + Total Manufacturing Costs - Ending WIP
this can also be written as :
Ending WIP = Beginning WIP + Total Manufacturing Costs - Cost of Goods Manufactured
therefore,
Ending Work In Process Inventory = $25,000 + $200,000 -$158,000
= $67,000
Answer:
3.00
Explanation:
Computation for this year's accounts payable turnover ratio for Nelson
Using this formula
Accounts payable turnover ratio=Cost of goods sold last year - Cost of goods sold this year /(Accounts payable last year -Accounts payable this year) ÷2
Let plug in the formula
Accounts payable turnover ratio=$550,000-$580,000/($300,000+$280,000) ÷2
Accounts payable turnover ratio=$30,000/$20,000÷2
Accounts payable turnover ratio=$30,000/$10,000
Accounts payable turnover ratio=3.00
Therefore this year's accounts payable turnover ratio for Nelson will be 3.00
Answer:
Option B
New Credit
Explanation:
An Intended Beneficiary refers to a third-party beneficiary that will benefit from the contract between two other parties.
In this case, New Credit is the intended beneficiary. This is because the original contract is between Lyle and Miranda. However, the terms of the contract bring New Credit in to the picture, as a party who is to have some benefits accrued to him before the contract to be fulfilled.
Hence, in this case, New Credit is the intended beneficiary because he is a third party that is benefiting from the fulfillment of Lyle and Miranda's contract
Answer:
Examine the reliability of the process.
Explanation:
As a high end clothing company, it is a very good initiative and welcoming to have clothes that possibly posses global version and global value so it is good for such routine checks to be done. This could be tedious and cost the company more than usual.
In this case where there are a reasonable amount of such clothes failing these routine checks, it is not too good for the company as more re-evaluations are to be done in order to cub the rate at which this is in the last six months. This process of examining the reliability process is the company's best bet to tackle the issue they have at hand.
Answer:
Please see details below:
Explanation:
Raw materials inventory $ 50.000
Cash $50.000
*this entry register the stock of the raw materials in the accounting system.
Factory Supplies $12.000
Raw materials inventory $12.000
*Some raw materials can be used as intermediate goods..
Finished Goods $12.000
Raw materials inventory $12.000
*Some raw materials can be used as Finished goods..
