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german
3 years ago
6

During June, Briganti Corporation purchased $81,000 of raw materials on credit to add to its raw materials inventory. A total of

$66,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $6,000 of indirect materials. Required:
Prepare journal entries to record the purchase of materials and their use in production.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
-BARSIC- [3]3 years ago
5 0

Answer:

Explanation:

The journal entries are shown below:

1. Raw material inventory A/c Dr $81,000

           To Accounts payable A/c  $81,000

(Being the raw material is purchased on account)

2. Work in process inventory A/c Dr $66,000

   Manufacturing overheads A/c Dr $6,000

              To  Raw material inventory A/c Dr $72,000

(Being the use of the material is recorded)

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Consider the market for portable air conditioners in equilibrium. a summer of unseasonably cool weather would cause:______
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2 years ago
"The price of a new car increased by 2/3 over the last five years. If the original price of the car was $12,000, what is the pri
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8 0
3 years ago
In its 2014 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $8,113 million, end-of-the-year t
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Answer:

a. The asset turnover is $1.0061

b. The profit margin on the sale is 9.7605%

c. The return on an asset is 9.82%

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a. In order to calculate the company asset turnover we would have to make the following calculation:

asset turnover=Turnover/Average operating assets

According to the given data:

Turnover=$8,268 million

Average operating assets=beginning-of-the-year total assets+nd-of-the-year total assets

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Therefore, asset turnover=$8,268 million/$8,218 million

asset turnover=$1.0061

b. In order to calculate the company profit margin on the sale we would have to make the following calculation:

profit margin on the sale=Net income*100/sales

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Therefore, profit margin on the sale=$807 million*100/$8,268 million

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3 years ago
Assuming all other things are the same, if there was a decrease in the break-even point, selling price per unit must have?
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