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Dmitry_Shevchenko [17]
4 years ago
5

Kilbuck Company operates in a lean manufacturing environment. Kilbuck applies conversion costs at a rate of $25 per unit. Kilbuc

k produced 12,000 units during May. Kilbuck's actual conversion costs for the month of May were:
Direct and indirect labor $150,000
Machine depreciation 85,000
Maintenance and supplies 60,000
Total conversion costs $295,000

The journal entry to record applied conversion costs for May will include a:

A. credit to Work in Process Inventory for $300,000.
B. debit to Conversion Costs for $300,000.
C. credit to Raw and In Process Inventory for $295,000.
D. debit to Raw and In Process Inventory for $300,000.
Business
2 answers:
vlada-n [284]4 years ago
8 0

Answer:

The journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

Explanation:

Raw materials of all kinds are measured at the start and recorded into a list plus account, with a credit to the accounts collectible account, and a debit to the raw materials inventory account.

The accounting treatment will vary when raw materials are consumed speculating on their standard as direct or indirect materials.

Thus, the journal entry to record applied conversion costs for May will include a debit to raw and in-process inventory for $300,000.

Dennis_Churaev [7]4 years ago
4 0

Answer:

D. debit to Raw and In Process Inventory for $300,000.

Explanation:

Total applied conversion cost = Conversion cost per unit * Units produced = $25 * $12,000 = $300,000

Therefore, the correct option is D. That is, the journal entry to record applied conversion costs for May will include debit to Raw and In Process Inventory for $300,000.

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Augie purchased one new asset during the year (five-year property) on November 10, 2017, at a cost of $660,000. She would like t
Alborosie

Answer:option (e)

None of the above

Explanation:

The mid quarter convention applies to this MACRS calculation.

§ 179 expense $500,000

Additional first-year depreciation= [($650,000 - $500,000) × 0.50]

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Total = $78,750

Income from the business before the cost is recovered is $600,000 less. Therefore, the Total cost recovered;

Total cost recovery= (78,750)

§ 179 business income limitation $521,250

Therefore, Augie's total cost recovery deduction;

= $500,000 + $78,750

= $578,750.

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3 years ago
What are the output of the north American executive purchasing roundtable in 1994?
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Here is the correct answer of the given question above. The output of the North American executive purchasing roundtable in 1994 was the trend towards strategic purchasing. This result was very evident during that year. P<span>urchasing responsibilities reveals a large-scale movement of the shift during 1990 . Hope this answer helps.</span>
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3 years ago
Describe the best structural configuration for an organization?
tiny-mole [99]

Explanation:

The structural configuration in an organization corresponds to a model that helps in understanding the organizations existing in a company for the development of effective strategies.

In order to establish the configuration, all parts of the organization, design parameters, situational factors and coordination mechanisms must be simulated, so that there is an integrated understanding so that it is possible to establish which strategic management model will be ideal for each type of organization. structural configuration.

There are seven types of organizational configuration:

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There are also the forces associated with the structural configuration, such as: learning, efficiency, direction, proefficiency, responsibility, cooperation and competition.

For a company to develop the best structural configuration, it must be evaluated to identify challenges and impediments of the project, so that it is aligned with the organizational values ​​and objectives, so that the structure is integrated and effective.

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Public companies under the jurisdiction of the Securities and Exchange Commission are required by law to hire a certified public
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Answer:

A. True

Explanation:

At the time of publishing the financial statements of the public companies under the jurisdiction of the Securities and Exchange Commission (SEC) is compulsory to hire the independent auditor or we can say Chartered Accountant (CA) so that he or she can assess the financial statement prepared by the public company whether it follows the  Generally Accepted Accounting Principles (GAAP) or not.

And, according to that the independent auditor given his or her qualified or unqualified opinion

3 0
3 years ago
What is an Umbrella Policy? How does it work?
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Answer:

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Umbrella policy not only covers the policyholder, but it also covers the members of his family. If you are responsible for the car accident, and your car is covered with the umbrella policy, they will be responsible for covering the medical expenses in case of someone getting hurt.

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