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AveGali [126]
3 years ago
8

The following information is available at the end of May:Balance in work in process on May 1 $57,600Direct material costs for Ma

y $89,200Overhead applied at rate of 120% of direct labor dollars %76,500Jobs completed during May and transferred to finished goods inventory was $242,420. Compute the balance in the work in process inventory control account on May 31
Business
1 answer:
Vsevolod [243]3 years ago
5 0

Answer:

Work in process account= $76,680

Explanation:

Giving the following information:

Balance in work in process on May 1 $57,600

Direct material costs for May $89,200

Overhead applied at a rate of 120% of direct labor dollars

Direct labor= $76,500

Jobs completed during May and transferred to finished goods inventory was $242,420

Work in process account= Beginning work in process+direct materials + direct labor + manufacturing overhead - Jobs completed during May

Work in process account=57600 + 89200 + 76500 + (76500*1.20)- 242420

Work in process account= $76,680

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The quantity theory of money holds that:______.
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Answer and Explanation:

The quantity theory of money talks about money supply and price level, and their relationship with one another.

In any given economy, the quantity Theory of money states that money supply and price level are directly proportional. This is to say that when there is a change such as an increase in money supply, there would also be a proportional increase in price Ievel. Also when there is an increase in price level, there would also be a proportional increase in money supply.

4 0
3 years ago
Drag the tiles to the boxes to form correct pairs.
Katyanochek1 [597]

Answer:

The customer returned the shirt, because the athlete’s team number was incorrect - Purchasing Department

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Explanation:

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4 0
3 years ago
Which of the following changes in the loanable funds market will decrease the equilibrium real interest rate?
LuckyWell [14K]

Answer:

The answer is Option C

Explanation:

Any event that would either decrease the demand for loanable funds or increase the supply of loanable funds will decrease the equilibrium interest rates. Supply of loanable funds is affect by the amount of national savings. National savings in turn, is the sum of private savings, public saving and net capital inflow.

In option C, capital inflows are increasing. This means that there would be an excess supply of money in the economy which can be converted into loanable funds. This would, therefore, push the supply curve to the right thereby reducing the real interest rate equilibrium.

7 0
3 years ago
A new faculty member at the local university pays $1,500 per month to rent an apartment in the downtown area. She teaches on cam
Naddik [55]

Answer:

$2,700

Explanation:

Calculation for what should this professor be willing to pay in rent per month

First step is to calculate the Transportation cost per week

Transportation cost = ($25*4 hrs)* 3 per week

Transportation cost =$100*3 per week

Transportation cost= 300 a week

Now let calculate the rent per month

Rent per month= $1500 + ($300*4)

Rent per month=$1,500+$1,200

Rent per month= $2,700

Therefore what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $25 will be $2,700

3 0
3 years ago
Commercial banks create money throughmaking loans. facilitating borrowing from the Federal Reserve to the public. printing treas
Butoxors [25]

Answer:

making loans

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Therefore as per the given situation, the commercial bank would earned by the money by providing the loans or making the loans

Hence, the first option is correct

7 0
3 years ago
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