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Wewaii [24]
3 years ago
10

Mark and julie are going to sell brownies and cookies for their third annual fundraiser bake sale. In one day, mark can make 40

brownies or 20 cookies, and julie can make 15 brownies or 15 cookies. With specialization, how many brownies and cookies will be made in one day for the bake sale?
Business
1 answer:
professor190 [17]3 years ago
6 0

Answer: 40 brownies and 15 cookies

Explanation:

Mark can make 40 brownies or 20 cookies

Opportunity cost of brownie for Mark = \frac{20}{40} = 0.5

Julie can make 15 brownies or 15 cookies.

Opportunity cost of brownie for Julie = \frac{15}{15} = 1

So, Mark has a comparative advantage in making brownies. So, mark will produce a total of 40 brownies and Julie will make a total of 15 cookies.

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The expense recognition (matching) principle requires that expenses (expenses/assets/liabilities) be recorded in the same accoun
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Expenses ; revenues ; adjusting

Explanation:

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5 0
3 years ago
On April 1, Sangvikar Company had the following balances in its inventory accounts:
noname [10]

Answer:

a.

DR Raw Material Inventory                             $30,000

CR Accounts Payable                                                     $30,000

b.

DR Work in Process Inventory                          $33,900

CR Raw Material Inventory                                                $33,900

Working

= Job 114 + Job 115 + Job 116

= 16,500 + 12,400 + 5,000 = $33,900

c.

DR Work in Process                                            $‭7,430‬

CR Wages Payable                                                             $‭7,430‬

Working

= (150 * 15) + (220 * 17) + (80 * 18)

= $‭7,430‬

d.

DR Work in Process                                              $‭4,458‬

CR Manufacturing Overhead                                              $‭4,458‬

Working

Overhead as % of Direct labor cost using Job 115 = Applied Overhead / Direct labor = 936/1,560 = 60%

Manufacturing Overhead = Overhead rate * Direct labor

= 60% * 7,430 = $‭4,458‬

e.

DR Manufacturing Overhead                                     $4,765

CR Accounts Payable                                                              $4,765

f.

DR Finished Goods                                                    $‭23,520‬

CR Work in Process                                                                   $‭23,520‬

Job 115 costs = Beginning + Material + Labor + Overhead

= (2,640 + 1,560 + 936) + 12,400 + (220 * 17) + (220 * 17 * 60%)

= $‭23,520‬

g.

DR Cost of Goods sold                                               $‭23,520‬

CR Finished Goods                                                                     $‭23,520‬

DR Accounts Receivable                                            $‭32,928‬

CR Cost of Goods sold                                                              $‭32,928‬

Working

= ‭23,520‬ * 140%

= $‭32,928‬

4 0
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