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3 years ago

Fein Company provided the following information relating to cash payments:

Business

1 answer:

BlackZzzverrR [31]3 years ago

6 0

Answer:

Fein Company

Schedule of Cash Payments

For the Month of August 202x

Salaries expenses:

From July salaries $3,230

<u>From August salaries $31,860</u>

Total salaries $35,090

Direct materials:

From July purchases $61,600

<u>From August purchases $14,600</u>

Total direct materials $76,200

Overhead expenses: $64,850

Debt payments:

Principal $15,000

<u>Accrued interests $450</u>

Total debt payment $15,450

Total cash payments $191,590

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Suppose there is a decrease in the price of butter. What do we expect to happen to the demand for bread? Assume that bread and b

dimulka [17.4K]

Suppose there is a decrease in the price of butter.There will be an increase in demand for bread.

<h3>Option (B) is correct</h3>

<u>Explanation:</u>

Bread and butter are complementary goods. They are demanded and consumed together. So their demand are positively correlated which means an increase in demand of one will lead to the same increase the demand of other

If the Price of butter decreases, it will lead to an increase in the demand for butter. With the increasing demand for butter, the demand for bread will automatically increase. Both demands will move in the same direction.

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3 years ago

January 1, Biden, Inc.'s WorkminusinminusProcess Inventory account had a balance of $ 30 comma 800. During the year, $ 58 com

Natasha_Volkova [10]

Answer:

Option (A) is correct.

Explanation:

Given that,

Direct materials = $58,500

Direct labor = $66,000

Manufacturing overhead = 120% of direct labor cost

Opening WIP = $30,800

Cost of goods manufactured:

= Direct materials + Direct labor + Manufacturing overhead

= $58,500 + $66,000 + 120% of direct labor cost

= $58,500 + $66,000 + (120% × $66,000)

= $58,500 + $66,000 + $79,200

= $203,700

December 31 balance of Work-in-Process Inventory:

= Opening WIP + cost of goods manufactured - cost of goods completed

= $30,800 + $203,700 - $220,700

= $13,800

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3 years ago

Rabbit Foot Motors has been approached by a new customer with an offer to purchase 5,000 units of its hands-free, Wi-Fi-enabled

VashaNatasha [74]

Answer: 1. Special order price, direct materials, direct labor, and variable overhead.

2. Increases by $10,000,000

Explanation:

1. What are the relevant costs and benefits of the two alternatives (accept or reject the special order)

These include special order price, direct materials, direct labor, and variable overhead.

2. By how much will operating income increase or decrease if the order is accepted?

This will be:

= Units × (special order price-variable costs)

= 5000 × ($18000 - $10000 - $2000 - $4000)

= 5000 × $2000

=$10,000,000

Therefore, it increases by $10,000,000

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3 years ago

Assume that netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to co

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2 years ago

Return to Amir’s original purchase date of July1, 20X5. Assume that Amir uses straight-line method of depreciation and sells the

lesya692 [45]

Answer:

Explanation:

This question doesn’t seem to be complete however I’ll try to answer it to the best of my knowledge.

Firstly we must know the Original Purchase Price of the Asset. From the Original Purchase Price we will deduct the accumulated Depreciation and get the Net Book Value. From this Net Book Value the selling price of the Equipment will be deducted to calculate the Gain or Loss on the Sale of Equipment. I have given an example to demonstrate the scenario

COST $120,000

Straight Line Depreciation Rate (Annual) 15%

Monthly Depreciation $1,500

Accumulated Depreciation (4 years) $72,000

Net Book Value $48,000

Selling Price of Asset $36,500

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3 years ago