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3 years ago

Annual manufacturing cost data (1000s) for four product lines are as follows:

Business

1 answer:

nadezda [96]3 years ago

7 0

Answer:

1st rank Line 3

2nd rank Line 1

3rd rank Line 2

4th rank Line 4

Explanation:

Using a spreadsheet approach all of the costs information can be set in excel such that it starts with costs of direct materials followed by the cost of direct labor with summing up to be prime costs of production.

However,the total indirect is then apportioned to the product in proportion of the product's total direct costs(the prime costs) as done in the attached spreadsheet.

The manufacturing cost per unit is the total manufacturing costs divided by annual production in each case.

Find attached.

Download xlsx

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Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it. Leslie buys the stereo,

Gemiola [76]

Answer:

Yes, because the statement was false.

Explanation:

Breach of warranty is defined as a misrepresentation of the quality or type of a product. The seller fails to fulfil a promise or claim made during a transaction.

When a good is being sold there are certain assertions which the seller must stand behind.

In this scenario Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it.

The fact that the stereo did not have quadrophinic speakers should have been discovered and stated by Mark. The misinformation he got when buying the stereo does not clear him of breach of warranty

6 0

3 years ago

Russ Wyant owned Humble Ranch in Perkins County, South Dakota. Edward Humble, whose parents had previously owned the ranch, was

Leona [35]

Answer:

Cosnider the following text.

Explanation:

In accordance with the United Stated Contract Law, peformance must form an integral part of the contract and any of it's clauses, along with consideration for the same.

As seen in the case above, specific provisions in the contract provide for the possibility of the seller becoming the buyer's lender by matching the terms of the proposed financing. However, it must be understood that a decision taken about the same by either one party is not binding on the other, and comes into effect only if it is mutually agreed upon under the same terms.

In the case above, Russ' uncle, Edward has exercised his two year option to buy the land from Russ, which if exercised, gave the parties 30 days to conclude the sale. However, as seen in the question, Russ's uncle, Edward was unresponsive to Russ' proposed purchase plan, indicating that he was aware of the terms of the contract and Russ' proposal, yet chose not to act on it. However, owing to the time clause in the contract, failure to respond an come to an agreement by either of the parties within the specified time, would render it void. Furthermore, Edward did not advise Russ on the financing terms pertaining to the contract before it's expiry, indicating that he had no interest in performing the contract.

Therefore, it should be understoof that Edward is not entitled to specific performance as a remedy in this case, as it is his fault and not Russ' fault for the non-performance of his part of the contract. He does not have any remedy at all, unless he is able to prove beyond reasonable doubt that Russ had not made efforts to communicate with him. Russ on the other hand, can sue Edward according to the terms of the contract and seek damages accordingly.

6 0

3 years ago

All of the following are weaknesses of the payback method except:_______.

melomori [17]

Answer:

Correct Answer:

d. none of the above

Explanation:

Payback method is a simple accounting method used to projects incoming cash flows from a given project and identifies the break even point between profit and paying back invested money for a given process.

7 0

3 years ago

Can we chat I am bored I had instagram too

Otrada [13]

Answer:

well l'm not on instagram

4 0

3 years ago

Read 2 more answers

Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts.

umka2103 [35]

Answer:

July 1. Yardley contributed $68,000 cash to the business in exchange for common stock.

Dr cash 68,000

Cr common stock 68,000

July 5. Paid monthly rent on medical equipment, $510.

Dr rent expense 510

Cr cash 510

July 9. Paid $16,000 cash to purchase land to be used in operations.

Dr land 16,000

Cr cash 16,000

July 10. Purchased office supplies on account, $1 ,600.

Dr office supplies 1,600

Cr accounts payable 1,600

July 19. Borrowed $26,000 from the bank for business use.

Dr cash 26,000

Cr notes payable 26,000

July 22. Paid $1,100 on account.

Dr accounts payable 1,100

Cr cash 1,100

July 28. The business received a bill for advertising in the daily newspaper to be paid in August, $250.

Dr advertising expense 250

Cr accounts payable 250

July 31. Revenues earned during the month included $6,300 cash and $5,300 on account.

Dr cash 6,300

Dr accounts receivable 5,300

Cr service revenue 11,600

July 31. Paid employees' salaries $1 ,900, office rent $1 ,400, and utilities $600. Record as a compound entry.

Dr wages expense 1,900

Dr rent expense 1,400

Dr utilities expense 600

Cr cash 3,900

July 31. The business received $1 ,340 for medical screening services to be performed next month.

Dr cash 1,340

Cr unearned revenue 1,340

July 31. Paid cash dividends of $6,900.

Dr dividends 6,900

Cr cash 6,900

cash

debit credit

July 1 68,000

July 5 510

July 9 16,000

July 19 26,000

July 22 1,100

July 31 6,300

July 31 3,900

July 31 1,340

July 31 <u> 6,900</u>

101,640

accounts receivable

debit credit

July 31 5,300

office supplies

debit credit

July 10 1,600

land

debit credit

July 9 16,000

accounts payable

debit credit

July 10 1,600

July 22 1,100

July 28 <u> 250 </u>

750

unearned revenue

debit credit

July 31 1,340

notes payable

debit credit

July 19 26,000

common stock

debit credit

July 1 68,000

service revenue

debit credit

July 31 11,600

rent expense

debit credit

July 5 510

July 31 1,400

advertising expense

debit credit

July 28 250

wages expense

debit credit

July 31 1,900

utilities expense

debit credit

July 31 600

dividends

debit credit

July 31 6,900

4 0

3 years ago