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jok3333 [9.3K]
3 years ago
8

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the jour

nal entry to record theâ transfer? Date Accounts and Explanation Debit Credit A. Work-in-Process Inventory-Dept. 1 750 Work-in-Process Inventary-Debit. 2 750 B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750 C. Work-in-Process Inventary-Dept. 2 750 Cost of Goods Sold 750 D. Cost of Goods Sold 750 Work-in-Process Inventory-Dept. 1 750
Business
1 answer:
horsena [70]3 years ago
4 0

Answer:

B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750

Explanation:

The journal entry to record this transaction is shown below:

Work-in-Process Inventory A/c - Department 2 $750

               To Work-in-Process Inventory A/c - Department 1 $750

(Being the completed units are transferred)

For recording this transaction we debited the work in process department 2 and credited the work in process department 1

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On January 1, Year 1, Savor Corporation leased equipment to Spree Company. The lease term is 9 years. The first payment of $698,
Lelu [443]

Answer:

The interest revenue will Savor record in Year 1 on this lease at 9% is $347,697

Explanation:

Present value of Lease Payment = $4,561,300

Less: First Payment on Jan 1, 2018 = $698,000

Remaining Balance = $3,863,300

Interest Revenue for Year 1 at 9% = $3,863,300 × 9%

Interest Revenue for Year 1 at 9% = $347,697

8 0
3 years ago
If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week. The pric
hichkok12 [17]

Answer:

The answer is 2.25

Explanation:

Price Elasticity of Supply (PES)= percentage change in Quantity demanded/ percentage change in price

PES= (30-20)/20 *100) /( 55-45)/45*100) = 50%/22.22% = 2.25

4 0
3 years ago
The production-inventory taxonomy is based on _____________ producing standardized products through an assembly line, while ____
UkoKoshka [18]

Answer:

system producing

intermittent system

Explanation:

The production-inventory taxonomy is based on continuos system producing standardized products through an assembly line, whille intermittent system are used to produce non standardized products through a job shop.

8 0
3 years ago
The procedure that best discourages the resubmission of vendor invoices after they have been paid is
Katena32 [7]

Answer:

The cancellation of vouchers by treasurer personnel

Explanation:

When a business uses vendors for some of its service needs there is the possibility of paying vendors twice for the same service of invoice is submitted twice.

The treasurer is the person that disbursed funds to vendors for services rendered. He is tasked with cross checking if payments are duplicated.

To avoid this it is best to have the treasurer personnel cancel vouchers that have been paid.

This will provide an effective check on duplicate payments.

4 0
3 years ago
After graduating from college, you are hired by the Ford automobile company as an economic analyst. For your first project, you
nikdorinn [45]

Answer:

Explanation:Part 1). Answer :- Sales of Ford Mustangs will decrease by 15 % (1.5 * 10 %).

Explanation :- Camaro and Ford Mustangs are substitute goods because the cross-price elasticity between Ford Mustangs and Camaro is in positive. Accordingly, with the decrease in price of camaro, the quantity sold of Ford Mustangs will also decrease.

Part 2). Answer :- Quantity of Ford Mustangs will decrease by 16 % (0.80 * 20 %).

Explanation :- Gasoline and Ford Mustangs are complementary goods because the cross-price elasticity between Ford Mustangs and Camaro is in negative. Accordingly, with the increase in price of gasoline, the quantity sold of Ford Mustangs will decrease.

Part 3). Answer :- Quantity of Ford Mustangs will increase by 15 % (3 * 5 %).

Explanation :- With the increase in income of consumer, the demand for normal good also increase. Accordingly, with the increase in consumer's income, quantity demanded of Ford Mustangs will also increase.

3 0
3 years ago
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