Answer:
5,850 units
Explanation:
Units Incomplete at the beginning of the month:
= No. of units × 40% incomplete
= 600 units × 0.4
= 240 units
Units completed during the month:
= 6,000 - 600
= 5,400 units are completed
Units completed at the end of June:
= 700 units × 30%
= 210 units
Number of equivalent units of production for conversion cost for the period:
= 240 + 5,400 + 210
= 5,850 units
Answer:
Novak Company Journal. $
June 1
1. Purchases Dr. 26,026
Vendor. Cr. 26,026
Narration purchase of stock
2.Vendor Dr 1078
Return outward Cr. 1078
Narration. Return on goods purchased.
3. Customer Dr 31753
Sales. Cr. 31753
Narration. Good sold to customer
The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900
Explanation:
- Entertainment Tonight, Inc. manufactures and sells stereo systems that include an assurance-type warranty for the first 90 days. Entertainment Tonight also offers an optional extended coverage plan under which it will repair or replace any defective part for 2 years beyond the expiration of the assurance-type warranty. The total transaction price for the sale of the stereo system and the extended warranty is $3,000. The standalone price of each is $2,300 and $900, respectively. The estimated cost of the assurance-warranty is $350. The accounting for warranty will include a credit to Unearned Warranty Revenue, $900.
- Unearned extended warranty revenue is given to be as an unearned revenues in accrued liabilities in the balance sheets.
- Revenue which comes from separately priced, self-insured service contracts is reffered at the point of sale.
- Unearned revenue is a money which is received from a customer for work that has not been performed still.
Answer: um... Imma say 6 i guess i don't really know
Explanation:
