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poizon [28]
3 years ago
14

Calico Corporation produced 2 comma 500 units in Job 903. The following data is provided for Job 903 for the​ year: Direct mater

ials used $ 3 comma 200 Direct labor costs $ 1 comma 092 Actual manufacturing overhead rate per direct labor hour ​$17.15 Predetermined manufacturing overhead rate per direct labor hour $ 18.60 Direct labor hours used in Job 903 42 Direct labor rate per hour $ 26 What is the total cost of Job​ 903? (Round intermediary calculations to the nearest cent and final answer to the nearest​ dolla
Business
1 answer:
geniusboy [140]3 years ago
7 0

Answer:

The total cost of Job​ 903 is $5,073.20

Explanation:

The computation of the total cost is shown below:

= Direct material used + Direct labor cost + overhead cost  (Predetermined manufacturing overhead rate per direct labor hour ×  Direct labor hours used in Job 903)

= $3,200 + $1,092 + ($18.60 × 42 labor hours)

= $3,200 + $1,092 + $781.20

= $5,073.20

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A company issued 8%, 15-year bonds with a par value of $550,000 that pay interest semi-annually. The current market rate is 8%.
Kruka [31]

The journal entry to record each semiannual interest payment is:

Debit Bond Interest Expense $22,000; credit Cash $22,000.

<h3>What journal entries?</h3>
  • A journal entry is an act of keeping or producing records of any economic or non-economic transaction.
  • An accounting journal, which shows a company's debit and credit balances, records transactions.
  • The journal entry can be made up of multiple records, each of which is either a debit or a credit.
  • Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.
  • For example, a corporation may issue 8%, 15-year bonds with a par value of $550,000 that pay semi-annual interest. The market rate is currently 8%.
  • The journal entry for each semiannual interest payment is as follows: Debit Bond Interest Expense $22,000; credit Cash $22,000.

Therefore, the journal entry to record each semiannual interest payment is:

Debit Bond Interest Expense $22,000; credit Cash $22,000.

Know more about journal entries here:

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6 0
1 year ago
5. Which is an external users of accounting?
nirvana33 [79]

Answer:

Its b (prospective investors)

6 0
3 years ago
XYZ Inc.'s cost formula for its supplies cost is $968 per month plus $8 per frame. For the month of November, the company planne
zaharov [31]

Answer: $528 favorable

Explanation:

The Spending variance for supplies shoes the difference between what the company thought it would spend on supplies and what it actually spends.

Spending variance on supplies = Actual costs - Budgeted costs

Budgeted cost:

= 968 + 8 * 470 frames

= 968 + 3,760

= $4,728

Spending variance on supplies:

= 4,200 - 4,728

= $528 favorable

<em>Variance is favorable when the Budgeted costs are higher than actual costs. </em>

8 0
3 years ago
A firm's average cost increases as it increases its output by expanding its plant and hiring additional workers (its only inputs
KiRa [710]

Answer:

The correct answer is letter "D": incorrect because all inputs are varied in the example.

Explanation:

The law of Diminishing Marginal Productivity states that increasing one variable will keep the others the same. My initially increase output but eventually adding more of that one variable may lead to a diminishing rate of return. The law helps explain why increasing production is not always the best way to increase profits.

The law of Diminishing Marginal Productivity only applies when certain inputs are fixed, but in this example, the amount of labor available varies since it is increasing.

7 0
3 years ago
Company P has owned 80 percent of Company S for a number of years. This year Company P bought inventory for $100,000 and sold it
Vesna [10]

Answer:

don't know

Explanation:

3 0
2 years ago
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