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viktelen [127]
3 years ago
15

1. Purchased raw materials on account $49,400.

Business
1 answer:
lora16 [44]3 years ago
4 0

Answer and Explanation:

The journal entries are shown below:

1. Raw material inventory A/c Dr.$49,400

           To accounts payable  $49,400

(To record raw material purchased)

2. Work in process inventory A/c Dr. $33,300

  Manufacturing overhead A/c Dr. $8,000

                   To Raw material inventory Cr. $41,300

(To record the raw material requisitioned is recorded)

3. Factory payroll A/c Dr.$65,200

                To cash $65,200          

(To record factory labor cost incurred)    

4. . Work in process inventory A/c Dr. $54,600

     Manufacturing overhead A/c Dr. $10,600

                    To factory payroll Cr. $65,200

(To record the direct labor and indirect labor is recorded)

5. Manufacturing overhead A/c Dr. $84,900

                To accounts payable Cr. $84,900

(To record the manufacturing overhead is recorded)

7. Work in process inventory A/c Dr. $81,900   ($54,600×150%)

                To Manufacturing overhead Cr. $81,900

(To record the applied manufacturing overhead is recorded)

8. Finished goods inventory A/c Dr. $96,300

             To Work in process inventory Cr. $96,300

(To record the transferred goods are recorded)

9. Cost of goods sold A/c Dr. $80,700

        To finished goods inventory Cr. $80,700

(To record the cost of goods sold is recorded)

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Peerless Corporation (a U.S. company) made a sale to a foreign customer on September 15, for 119,000 crowns. It received payment
Natalka [10]

Answer:

Exchange rate on September 15: 1 Crown = $0.61; 119,000 Crown = (119,000*$0.61) = $72,590.

September 30 = (119,000*0.65) = $77,350.

October 15 = (119,000*$0.60) = $71,400.

                        JOURNAL ENTRY    

Date          Account                           Debit          Credit

15-Sep Account receivable         $72,590

                      Sales                                              $72,590

                (Sale to a foreign customer for 119,000 crown Exchange rate = $0.61)

30-Sep     Account receivable $4,760

                       Foreign currency exchange gain $4,760

                        ($77,350-$72,590)

15-Oct      Foreign currency exchange loss $5,950

                        Account receivable                               $5,950

                        ($71,400-$77,350)

               Cash                                                $77,350

                        Accounts Receivable                              $77,350

8 0
3 years ago
The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 800,000 Net operating income $ 50,000 Averag
ELEN [110]

Answer:

ROI 87.5%

Explanation:

Return on Investment = return /investment

Total return

50,000 perating income + 20,000 residual income = 70,000 income

The asset could been adquire on lease or through liabilities, this is not investment. The investmetn made is the one done by the shareholders.

Stock Holders equity = investment = 80,000

The shareholders invest this amount to generate

70,000 dollars of return

ROI  70,000/80,000 = 87.5%

7 0
3 years ago
At Wegman's, employees are empowered to meet customer needs without seeking a manager's permission. This is an example of
mr_godi [17]

The scenario that's illustrated by Wegman is simply known as A. Job enrichment.

<h3>What is job enrichment?</h3>

It should be noted that job enrichment simply means a process whereby there are different dimensions added in order to make a job more motivating.

In this case, employees are empowered to meet customer needs without seeking a manager's permission abs this is an example of job enrichment.

Learn more about job enrichment on:

brainly.com/question/5948212

6 0
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What is tax payable????????
alukav5142 [94]
<span>It's like a type of a</span><span> account in the current liabilities section of a </span><span>company's um I think balance sheet.</span>

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