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ss7ja [257]
4 years ago
14

LO 4.7In a job order cost system, raw materials purchased are debited to which account?

Business
1 answer:
laiz [17]4 years ago
3 0

Answer:

Raw materials inventory

Explanation:

Since the raw material is purchased which increase the stock account so we debited it and for purchasing the raw material, the cash is given or it can takes on credit so we credited it

So, the journal entry would be

Raw material A/c Dr

   To Cash A/c

(Being raw material purchased for cash)

Raw material A/c Dr

     To Accounts payable A/c

(Being raw material purchased on credit)

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B. what is the monthly surplus created in the wholesale butter market due to the price support (price floor) program?
AveGali [126]

Answer:

The answer is Surplus is equal to zero.

Explanation:

Suppose if P  = 1$.

Q = 101, Qs = 79

Where as monthly surplus  = 79 - 101

Monthly surplus = -22

_22 means negative surplus which can also be interpreted as zero surplus.

3 0
4 years ago
A company manufacturing shirts for a department store decide to create a new style of cotton shirt company would most likely pro
Neko [114]
The answer would be: "be less costly to create"
4 0
3 years ago
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Metal frames for kick scooters are manufactured in two steps: Stamping and assembly. Each frame is made up of three pieces: one
Colt1911 [192]

Answer:

20units per hour

Explanation:

Because The capacity at stamping is 120/(90+120*0.5+9-+240*0.5)*60=20 units per hour. The capacity at assembly is 1/30*12*60=24 units per hour. Therefore, stamping is the bottleneck.

4 0
3 years ago
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3. The store purchases used goods for resale from people that bring items to the store. Since that can occur anytime that the st
Dafna11 [192]

Answer:

Weakness 1 is signed paper are not stored in safe and secured location.

Weakness 2 is approval is not taken from any manager or person before purchasing the item from customers.

Explanation:

The store should keep a track in the system for the purchase of items from its customers. The store should get approval before purchasing the product and the cash dealing should be assigned to designated person who will be responsible for the payment to its customers. This will reduce chances of fraud as the cash will be handled by only one person and tracking will be easy.

3 0
3 years ago
A U.S. treasury bond (selling at a par value of $1,000) that matures at the end of five years is said to have a coupon rate of 6
pav-90 [236]

Answer:

$1,042.04

Explanation:

to calculate the present value using a continuously compounded interest rate, we can use the following 2 formulas:

1) present value = cash flow / eⁿˣ

  • e = 2.71828
  • x = 5% / 2 = 2.5%
  • n = 10
  • cash flow = $1,030

present value = $1,030 / 2.71828¹⁰ˣ⁰°⁰²⁵ = $1,030 / 1.284 = $802.16

2) present value of an annuity = payment [(1 - e⁻ⁿˣ) / (eˣ - 1)]

  • payment = $30
  • x = 2.5%
  • n = 9
  • e = 2.71828

present value = $30 [(1 - 2.71828⁻⁹ˣ⁰°⁰²⁵) / (2.71828⁰°⁰²⁵ - 1)] = $30 [(1 - 2.71828⁻⁹ˣ⁰°⁰²⁵) / (2.71828⁰°⁰²⁵ - 1)] = $30(0.2015 / 0.0252) = $239.88

present value of the stream of cash flows = $802.16 + $239.88 = $1,042.04

7 0
3 years ago
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