Answer:
$92,000
Explanation:
As we know that the raw material inventory debited by the starting balance amount, purchase amount but it would be credited by the material used or transferred amount to the WIP inventory
As we can see that the $92,000 is requisitioned i.e. transferred to the WIP inventory so the same is to be reflected in the credit amount
Hence, the credit to the raw material account is made for $92,000
We assume that requisitioned word is used instead of removal
Answer:
Increase in income= $20,000
Explanation:
Giving the following information:
Marigold Corp. manufactures a product with a unit variable cost of $100 and a unit sales price of $181. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $120 each in a foreign market which would not affect its present sales.
We will not have into account the fixed costs, because there is unused capacity.
Increase in income= contribution margin * units sold
Increase in income= (120 - 100) * 1000= $20,000
Answer:
A. Debit Income Summary $41,300; credit Expense accounts $41,300
Explanation:
At the end of the period, the revenue and expenses for the company are closed into the income summary account which in turn is closed into the retained earnings account.
For revenue, the entries are debit revenue and credit income summary with the revenue for the year. For expenses, credit expenses and debit income summary with the total expense for the year.
As such, given that Total revenues for the period are $58,200, total expenses are $41,300, and dividends are $10,200, the correct closing entry for the expense accounts is
Debit Income Summary $41,300
Credit Expense accounts $41,300
Answer: Things to consider when creating a budget.
Explanation: Trust me bro
