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Tpy6a [65]
3 years ago
9

On July 31, the bookkeeping account Supplies Inventory shows a debit balance of $1,000. A physical inventory taken on that date

indicates that $800 of supplies are on hand. What amount of supplies was used in July?
Business
1 answer:
Tanya [424]3 years ago
4 0

Answer:

$200

Explanation:

When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.

As the inventories are used, debit Supplies expense and credit Supplies inventory account.

Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted

= $1,000 - $800

= $200

This will be done by

Debit Supplies expense  $200

Credit Supplies Inventory  $200

Being entries to record inventory used in July

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Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume. The co
xeze [42]

Answer:

Total cost= $2,008,608

Explanation:

Giving the following information:

Production 11,800 units 13,000 units

Direct materials: $761,100 -  $838,500

Direct labor: $241,900 -  $266,500

Manufacturing overhead: $1,010,800 - $1,035,280

First, we need to calculate the unitary cost for each level of production and choose the lower cost for each:

11,800 units:

Direct material= 761,100/11,800= $64.5

Direct labor= 241,900/11,800= $20.5

Variable overhead= 1,010,800/11,800= $85.66

Total unitary cost= 170.66

13,000 units:

Direct material= 838,500/13,000= 64.5

Direct labor= 266,500/13,000= $20.5

Variable overhead= 1,035,280 /13,000= $79.64

Total unitary cost= 164.64

<u>Total cost for 12,200 units:</u>

Total cost= 12,200*164.64= $2,008,608

6 0
3 years ago
You want to know if part time employees become more or less happy with their employment over time. Thus, you give a questionnair
Y_Kistochka [10]

Answer:

:Two students made stem-and-leaf plots for the following data: 530, 545, 550, 555,560, 570. Which is incorrect? Explain the error.

(2 Points)

A; there is no stem for 56.

B; there are no leaves for 55.

Explanation

3 0
3 years ago
A bond has a par value of $1,000, a current yield of 6. 90 percent, and semiannual coupon payments. the bond is quoted at 101.17
poizon [28]

If the bond's par value is $1000,current yield be 6.90% and the bond is quoted at 101.17 then the each coupon payment is $34.9.

Given the bond's par value is $1000,current yield be 6.90% and the bond is quoted at 101.17.

We are required to find the amount of each coupon payment.

Bond value=$1000

Current yield=6.90%=0.0690

Bond quoted=101.17

Payment method=Semi annual =2 payments

Computation of annual coupon amount:

Current yield=Annual coupon/(Bond value*Bond quoted)

0.0690=Annual coupon/(1000*101.17%)

0.0690=Annual coupon/1011.7

Annual coupon=1011.7*0.0690

Annual coupon=$69.8073

Computation of each payment:

Each payment=Annual coupon /2 payment

Each payment=69.8073/2

Each payment=34.90365

Hence the amount of each payment of bond having par value of $1000 is $34.9.

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6 0
2 years ago
In the integrated supply chain model, integrated enterprise is typically ______.
Alenkinab [10]

In the integrated supply chain model, integrated enterprise is typically manufacturer.

<h3>What is supply chain model?</h3>

Supply chain modeling can be described as the  conscious attempt  that is been utilized in the  proclamation of order as regards the  supply chain to have certain business objectives.

These could be  lowest supply cost as well as , on-time delivery ,however In the integrated supply chain model, integrated enterprise is typically manufacturer.

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4 0
2 years ago
In its income statement for the year ended December 31, 2022, Whispering Winds Corp. reported the following condensed data. Oper
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The Multiple Income Statement is $127,000.

<h3>Multiple Income Statement</h3>

Multiple Income Statement For the Year Ending Dec. 31, 2022

Particulars Amount ($)

Net sales 2,199,000

Less: Cost of goods sold 1,255,000

Gross profit 944,000

(2,199,000-1,255,000)

Less: Operating expenses 719,000

Operating income 225,000

(944,000-719,000)

Other revenue:

Interest revenue 32,000

Other expenses and losses:

Interest expense 70,000

Add: Loss on disposal of plant assets 16,000

Total other expenses and losses 86,000

(70,000+18,000)

Income before tax  171,000

(225,000+32,000-86,000)

Less: Income tax expense 44,000

Net income 127,000

(171,000-44,000)

Therefore the Multiple Income Statement is $127,000.

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2 years ago
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