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3 years ago

2. List at least three things you would consider when choosing a bank and account type. (1-3 sentences. 3.0 points)

1 answer:

3 0

Well that depends on the person. The three things that someone would do when considering to choose a bank is to have trust, convenience, and account features. They would have to trust the bank, and it would have to be well-known and established. Bank accounts are case-sensitive, so it takes extra time for them to further secure their account.

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Statement of Cost of Goods Manufactured for a Manufacturing Company

natka813 [3]

Answer:

a. Cost of goods manufactured statement for January.

Work in process inventory, January 1 $ 135,240

Direct materials:

Materials inventory, January 1 $ 196,000

Purchases $376,320

Cost of materials available for use $ 572,320

Materials inventory, January 31 ($176,400)

Cost of direct materials used in production $ 395,920

Direct labor $352,800

Factory overhead:

Indirect labor $ 37,630

Machinery depreciation $22,740

Heat, light, and power $7,840

Supplies $6,270

Property taxes $5,490

Miscellaneous costs $10,190

Total factory overhead $90,160

Total manufacturing costs incurred during January $442,950

Total manufacturing costs $ 442,950

Work in process inventory, January 31 ($121,720)

Cost of goods manufactured $456,470

b. Determine the cost of goods sold for January.

Beginning Finished goods Inventory $99,960

Add Cost of goods manufactured $456,470

Less Ending Finished goods Inventory ($118,190)

Cost of goods sold $438,240

Explanation:

The Costs of Goods Manufactured is obtained from preparing a manufacturing cost schedule. This is an accumulation of all manufacturing costs.

The cost of goods sold is obtained by preparing Finished Goods Account or schedule as above.

5 0

3 years ago

Juxipi Inc. is well known for having a stronger credit score than its competitors. that is why, buyers are more willing to buy p

rewona [7]

Answer:

d. Commercial paper

Explanation:

-Short-term bank loans is a loan that has to be paid back in a year.

-Factoring is when a company sells its accounts receivable to another company at a cheaper price.

-Trade credit is a credit that a supplier gives to its clients to make the payments later.

-Commercial paper is a promissory note used by companies to get money to cover short-term liabilities and has a period of time of up to a year.

According to this, the answer us that the short-term financing option that is being offered by Juxipi Inc. in the given scenario is commercial paper.

4 0

3 years ago

Make a list of profession and identify their levels

schepotkina [342]

Answer:

Healthcare and medicine.
Arts and entertainment
Business.
Industrial and manufacturing.
Law enforcement and armed forces.
Science and technology.

7 0

2 years ago

Read 2 more answers

Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho

Masja [62]

Answer:

$861

Explanation:

Fixed predetermined overhead rate = Total fixed overhead cost/Total labor hours

= $ 74,000/74,000 = $ 1 PLH

Variable predetermined overhead rate = $ 3.10 PLH

Applied overhead rate = Fixed predetermined overhead rate + Variable predetermined overhead rate = $ 1 + $ 3.10 = $ 4.1 PLH

Applied overhead cost for Job X387 = Applied overhead rate x No. of labor hours required for job X387 = $ 4.1 x 210 = $ 861

8 0

3 years ago

Read 2 more answers

A potential CB project has the following cash flows: CF0 = -$500, CF1 = $300, CF2 = $200, CF3 = $150. WACC = 6%. Compute the fol

lisov135 [29]

Answer:

A. 2 years

B. 86.96

C. 16.46%

Explanation:

Payback period calculates the amount of time taken to recoup the initial investment made on a project.

The net present value substracts the present value of tax adjusted cash flows from the amount invested in the project.

Using the financial calculator to find the NPV:

Cash flow for year 0 = -500

Cash flow for year 1 = 300

Cash flow for year 2 = 200

Cash flow for year 3 = 150

Interest rate = 6%

NPV = $86.96

Internal rate of return is the discount rate that equates the tax adjusted cash flows from a project to the original amount invested.

Using the financial calculator to find the NPV:

Cash flow for year 0 = -500

Cash flow for year 1 = 300

Cash flow for year 2 = 200

Cash flow for year 3 = 150

Interest rate = 6%

IRR = 16.46%

4 0

3 years ago