Answer:
a. $365,000
b. $346,800
Explanation:
The computations are shown below:
a. For product cost:
= Direct materials used + Direct labor + manufacturing overhead
where,
Manufacturing overhead = Indirect labor + Property taxes, factory + Depreciation of production equipment
= $45,000 + $18,900 + $42,200
= $106,100
So, the product cost would be
= $168,100 + $90,800 + $106,100
= $365,000
b. For period cost
= Marketing salaries + Administrative travel + Sales commissions + Advertising
= $51,700 + $100,800 + $50,000 + $144,300
= $346,800
Answer:
I will lay out China's GDP growth rate in the last years:
YEAR GDP GROWTH RATE
2018 - 6.6%
2017 - 6.7%
2016 - 6.7%
2015 - 6.9%
2014 - 7.3%
2013 - 7.7%
2012 - 7.8%
2011 - 9.5%
2010 - 10.6%
2009 - 9.4%
2008 - 9.6%
2007 - 14.2%
2006 - 12.7%
2005 - 11.3%
2004 - 10.1%
2003 - 10.0%
2002 - 9.1%
2001 - 8.3%
2000 - 8.4%
1999 - 7.6%
1998 - 7.8%
1997 - 9.2%
1996 - 9.9%
1995 - 10.9%
1994 - 13.0%
1993 - 13.8%
1992 - 14.2%
China was growing a lot in the first years of the 1990s. The last half of the decade saw less grow because of the Asian financial crisis,
During the mid 2010s, China was again growing ove 10% every year. This boosted the world economy, for example, Latin America, because this region is an important provider of raw materials such as coal, oil and soy.
China was not seriously affected by the 2008-2009 financial crisis, or by the 2011 European debt crisis.
However, in recent years, the country has been growing less, probably because as it develops more, it tends to grow less. Same thing has happened to every developed country in the world. In fact, advanced economies like the United States or Germany rarely grow above the 2% rate per year.
Answer:
a. 10,000 units
Explanation:
The computations of units completed are shown below:
= Beginning work in process units + units started - closing work in process units
= 3,000 units + 11,000 units - 4,000 units
= 10,000 units
For this question, we ignored the equivalent units as the question has asked about the completed units only
So, all other information is irrelevant
Answer:
The journal entry is shown below:
Explanation:
The journal entry for the following will be as:
Accounts Payable A/c.......................Dr $4,000
Merchandise Inventory A/c..........Cr $80
Cash A/c..............................................Cr $3,920
As the buyer purchases merchandise worth $4,000, so the accounts payable account is debited and the buyer will be applied a discount of 2%, so merchandise inventory is credited and against the cash is paid, so the cash account is credited.
Working Note:
Discount = Amount × 2%
= $4,000 × 2%
= $80
