Answer:
Standard hour will be equal to 3600 hours
Explanation:
We have given 3900 direct labor hours to produce 1300 units of the product
So standard hour per unit is
Number of units produced is given = 1200 units
And standard hour per unit is 3 hour per unit
We have to fond the standard hours allowed for the October
So the standard hour will be equal to = 1200 ×3 = 3600 hour
Answer:
$351,912.61
Explanation:
Data provided in the question:
function that models the rise in the cost of a product
C = $285,700
t = 14 years
r = 1.5% = 0.015
Now,
On substituting the respective values in the given function, we get
inflation-adjusted cost in 14 years i.e C(14) = $285,700(1 + 0.015)¹⁴
or
C(14) = $285,700 × 1.2317
or
C(14) = $351,912.61
Answer:
See the errors identified below.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answer is now given as follows:
The following errors can be identified in the accountant's adjusting entries:
1.The accountant debited the account receivable for $5,000 (i.e. $23,250 - $18,250 = $5,000) without crediting laundry revenue.
Therefore, we should have:
Correct amount of laundry revenue = Laundry revenue in trial balance + (Adjusted account receivable - Unadjusted account receivable) = $182,100 + ($23,250 - $18,250) = $187100
2. The accountant debited laundry suppliers expense instead of crediting laundry suppliers for $3,000.
3. The the accountant credited Prepaid insurance for $3,600 (i.e. $5,200 - $1,600 = $3,600). However, the insurance expense was debited for $600.
4. Instead of crediting accumulated depreciation, the laundry equipment for depreciation expense was erroneously credited by the accountant for $13,000.
5. A debit of $1,000 to wages expense was not made by the accountant.
<u>Additional Note:</u>
After correcting the errors identified above, the correct adjusted trial balance will look as the one in the attached photo.
