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DanielleElmas [232]
3 years ago
7

Gulliver, Inc., which uses a process-costing system, transfers completed production from Department no. 1 to Department no. 2 fo

r further work. Which of the following best describes the account that would be debited to record this transfer? a. Work-in-Process Inventory: Department no. 1. b. Cost of Goods Transferred. c. Finished-Goods Inventory: Department no. 1. d. Work-in-Process Inventory: Department no. 2. e. Finished-Goods Inventory: Department no. 2.
Business
1 answer:
12345 [234]3 years ago
5 0

Answer:

d. Work-in-Process Inventory: Department no. 2.

Explanation:

The profuct is Transferred from Department 1 to Department 2. The cost in in the work in process of Department 1 which will be trasnferred to next department.

Following Journal entries will be recorded for this event.

                                                                                   Dr.       Cr.

Work-in-Process Inventory: Department no. 2.      xxx

Work-in-Process Inventory: Department no. 1                    xxx

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When Paul listened to the presidential candidate debates, he heard one candidate proposing to increase taxes and the other candi
lord [1]

Answer:

as taxes increase, there is a decrease in supply

Explanation:

6 0
2 years ago
Which of the following items is not a temporary difference? A. Vacation pay accrued for tax purposes in a prior period is deduct
Black_prince [1.1K]

Answer: the correct answer is B. Tax depreciation for the period exceeds book depreciation.

3 0
3 years ago
Pharoah Company has accumulated the following budget data for the year 2020. 1. Sales: 31,410 units, unit selling price $89. 2.
Rama09 [41]

Answer:

<u>Computation of cost of goods sold for 2020</u>

Direct materials(1 pound× $5 )                                  $5

Direct labor(3 hours × $12)                                      $36

manufacturing overhead ($8 × 3 hours)                $24

Total unit cost                                                          $65

<u>Budgeted multiple-step income statement for 2020</u>

Sales ( 31,410 units × $89)                            2,795,490

Less Cost of Sales (31,410 units × $65)      (2,041,650)

Gross Profit                                                      753,840

Less Operating Expenses :

Selling and administrative expenses:           (170,000)

Operating Income                                           583,840

Less Non - Operating Expenses

Interest expense                                             (30,000)

Income before income taxes                         553,840

Income tax (553,840×30%)                            (166,152)

Income After income taxes                            387,688

Explanation:

Cost of Sales = all manufacturing costs

Multi step - Income Statement separates income generated from Primary Activities of the Company (Operating Income) with Income generated from Secondary Activities of the Company (Non-Operating Income)

6 0
2 years ago
Suppose the price of a gallon of ice cream rises from $4 to $5, and the price of a can of coffee rises from $2 to $2.50. If the
ExtremeBDS [4]

Answer:

a. less ice cream, less coffee

Explanation:

The percentage change in CPI is given by:

\%CPI = \frac{177-150}{150}=0.18

The percentage change in the prices of coffee and ice cream, respectively, are:

\%C = \frac{5-4}{4}=0.25\\\%I = \frac{2.50-2.00}{2.00}=0.25

Both coffee and ice cream had an increase in price above the CPI increase, which means that both goods are being sold above the equilibrium price and thus their demand is likely to fall.

People likely will buy less ice cream, less coffee

4 0
3 years ago
(Fueron/Eran) las doce. Question 2 with 1 blank (Hubo/Había) mucha gente en la calle. Question 3 with 1 blankA las doce y media,
VARVARA [1.3K]

Answer:

Explanation: Eran las doce.  

Había mucha gente en la calle.  

A las doce y media, Tomás y yo entramos en el restaurante Tárcoles.  

Todos los días yo almorzaba con Tomás al mediodía.  

El camarero llegó inmediatamente con el menú.  

Nosotros empezábamos a leerlo.  

Yo pedí el pescado.  

De repente, el camarero (volvió a nuestra mesa.  

Y nos (dio una mala noticia.  

Desafortunadamente, no tenían) más pescado.  

Por eso Tomás y yo (decidimoscomer en otro lugar.  

(Llovió cuando (salimos del restaurante.

Así que (regresamos al restaurante Tárcoles.  

Esta vez, (pedí) arroz con pollo.

5 0
3 years ago
Read 2 more answers
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