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Sphinxa [80]
3 years ago
7

The accounting records of Omar Company contained the following information for last year: Beginning Ending Direct materials inve

ntory........................ $9,000 $7,000 Work in process inventory....................... $17,000 $31,000 Finished goods inventory........................ $10,000 $15,000 Manufacturing costs incurred Direct materials used............................... $72,000 Overhead applied..................................... $24,000 Direct labor cost (10,000 hours).............. $80,000 Depreciation............................................. $10,000 Rent......................................................... $12,000 Taxes........................................................ $8,000 Cost of goods sold................................... $157,000* * Selling and administrative costs incurred Advertising.............................................. $35,000 Rent......................................................... $20,000 Clerical..................................................... $25,000 *Does not include over- or underapplied overhead. Q1. The amount of direct material purchased during the year was:
Business
1 answer:
Dafna11 [192]3 years ago
6 0

Answer:

$70,000

Explanation:

The amount of direct material purchased during the year will be arrived at by working back from the amount of Direct Materials used within the year, then we <u>less</u> opening stock of Direct Material because obviously that was not purchased within the year but was carried over from previous period; and finally we add closing stock of Direct Material because that was left over from what was bought during the current period.

Direct materials used............................... $72,000

Beginning Direct materials inventory... ($9,000)

Ending Direct materials inventory..........<u> $7,000 </u>

Direct material purchased ........................<u>$70,000</u>

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What were the origins of the Asian currency crisis?
valina [46]

Answer:

East and South east Asia

Explanation:

The crisis that later blew up to become a financial crisis over the year started from the east and south east Asia countries of Thailand , Indonesia and South korea in 1997 before spreading to other counties  leading to a fall  in value of the currencies ,and fall in stock market and assets prices as the exchange rate continued to nosedive.

It was sparked up by the inappropriate borrowing by the private sector in the previous years

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3 years ago
The degree of operating leverage can be measured by​ ________. A. multiplying the contribution margin by sales revenue B. dividi
Varvara68 [4.7K]

Answer:

Option C is the answer

Explanation:

The degree of operating leverage is measured by dividing the contribution margin by operating income.

The degree of operating leverage (DOL) is the ratio of contribution margin to operating income. It measures how much the operating income of a company will change in response to a change in sales. A Companies that have higher proportion of fixed costs to variable cost will have greater levels of operating leverage.

4 0
3 years ago
​_____ is a tort in which the presumption of negligence arises because the defendant was in exclusive control of the​ situation,
Lina20 [59]

Answer:

Res ipsa loquitur

Explanation:

_____ is a tort in which the presumption of negligence arises because the defendant was in exclusive control of the​ situation, and the plaintiff would not have suffered injury but for​ someone's negligence.

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5 0
3 years ago
Specialization can help a country's economy by:*
Alika [10]

Answer:

D)reducing its need to be self-sufficient,

Explanation:

Specialisation by a country's economy means that it produces only the specialised goods & even export it, import the other goods.

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However, it reduces need of country to be self sufficient. As, it can gainfully trade its specialised goods for other goods (in which other economy specialises).

3 0
3 years ago
Read 2 more answers
Adam is a part-time employee who earned $495.00 during the most recent pay period. He is married with two withholding allowances
Akimi4 [234]

Answer:

Amount of Social Security tax  = $30.69

Explanation:

given data

earned = $495.00

pay = $6,492.39

to find out

How much should be withheld from Adam's gross pay for Social Security tax

solution

we assume here no pre tax is deductions

and social security tax rate is  6.2%

so Amount of Social Security tax  will be

Amount of Social Security tax =  earned × social security tax

Amount of Social Security tax = $495 × 6.2%

Amount of Social Security tax = $495 × 0.062

Amount of Social Security tax  = $30.69

5 0
3 years ago
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