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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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A branding strategy in which a firm uses the same brand for all or most of its products is called __________ branding.
MrRa [10]

Answer:

Umbrella branding

Explanation:

A branding strategy in which a firm uses the same brand for all or most of its products is called UMBRELLA branding.

Umbrella branding occurs when all or most of a firm's product mix features the same brand name. It is also known as family branding.

Umbrella Branding depends on a single brand name for the sale of multiple related products. The parent brand acts as an umbrella accommodating numerous products under its name.

3 0
3 years ago
(Chapter Supplement) Under the gross method of recording sales discounts discussed in this chapter, is the amount of sales disco
UkoKoshka [18]

At the time of collection, if the amount is paid within the discount period, the following entry is recorded:

Cash (+A).......................xxx

Sales discount(+XR,-R,-SE)........xxx

R. Jones (Accounts Receivables)(-A)….xxx

If the account is paid in full before the end of the discount period, the customer can be eligible for a cash discount rate. The duration of the trade credit is known as the credit period, and up until the end of the credit term, no interest is applied to the outstanding balance.

You use it to illustrate how a company's cash flow is distributed equally throughout the year rather than arriving in full at the end. We would use discount period numbers of 1 for the first year, 2 for the second year, 3 for the third year, and so on in a DCF without the mid-year convention.

Learn more about discount period here

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8 0
1 year ago
According to the U.S. Department of Labor Statistics, _____ is the industry earning the highest average annual wage in 2009.
Alchen [17]

Answer:

B. federal government

4 0
3 years ago
Read 2 more answers
Why is it important to invest
Svetradugi [14.3K]

it's important to invest so you can have a better life once that thing you invested in makes you money and not all of them do so keep that in mind

3 0
3 years ago
On January 2, 2018, Howdy Doody Corporation purchased 15% of Ranger Corporation's common stock for $58,000. Ranger's net income
insens350 [35]

Answer:

Howdy Doody show in the 2018 income statement as income from this investment is $24225

Explanation:

given data

purchased = 15%

common stock = $58,000

net income 2018 = $15,000

net income 2019 = $58,000

dividend  = $61,500

fair value = $73,000

to find out

How much Howdy Doody show in the 2018 income statement as income from this investment

solution

we know that net income to be reported as income by investment is the sum of income from dividend + unrealised gain

so here

unrealised gain = increase in value of stock that is

= $73,000 - $58,000 = $15000      .............1

and

income from dividend is  = 15 % of $61,500

income from dividend = $9225       .................2

now add equation 1 and 2

Howdy doody show in 2018 income statement as income from this investment = Dividend revenue + Unrealized holding gain

income statement = $9225 + $15000

income statement = $24225

4 0
3 years ago
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