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3 years ago

The following information relates to the manufacturing operations of the JNR Printing Company for the year:

Business

1 answer:

goldenfox [79]3 years ago

6 0

Answer:

Raw materials purchased during the year amount to E) $121,000.

Explanation:

The Raw materials purchased during the year can be found by Opening a Raw Materials T - Account.

The Balancing figure for this Account Relates to the Purchase of Raw Materials.

Debits :

Beginning Raw materials inventory $ 57,000

Purchase of Raw Materials (Balancing Figure) $121,000

Totals $178,000

Credits :

Ending Raw materials inventory $ 60,000

Transferred to Manufacturing Account $118,000

Totals $178,000

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Distinguish between responsibilities of the FTC and those of the SEC.

Illusion [34]

Answer:

FTC: prohibits deceptive practices and provides information about choosing products

SEC: prohibits insider trading and regulates brokers and investment advisers

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3 years ago

Read 2 more answers

The adjusted trial balance of Lopez Company shows the following data pertaining to sales at the end of its fiscal year, October

Oksana_A [137]

Answer:

A) Prepare the revenues section of the income statement.

Lopez Company

Income Statement for the year ended MM DD, YY

Sales Revenue $852,850

-Sales Returns and Allowances $24,030

-Sales Discounts $12,760

= Net Sales $816,060

B) Prepare separate closing entries for

(1) sales

Dr. Cr.

Sales $852,850

Income Summary $852,850

(2) the contra accounts to sales.

Dr. Cr.

Income Summary $36,736

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3 years ago

St. Augustine Corporation originally budgeted for $360,000 of fixed overhead at 100% of normal production capacity. Production w

Ksju [112]

Answer:

$9,000 unfavorable

Explanation:

The computation of the total fixed overhead variance is shown below:

= Actual fixed overhead costs - Budgeted fixed overhead

where,

Budgeted fixed overhead is $360,000

And, the Actual fixed overhead cost is computed below:

= Actual fixed overhead × Actual production ÷ budgeted production

= $360,000 × 11,700 units ÷ 12,000 units

= $351,000

Now put these values to the above formula

So, the value would equal to

= $351,000 - $360,000

= $9,000 unfavorable

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3 years ago

The centralized computer technology department of Hardy Company has expenses of $320,000. The department has provided a total of

Irina-Kira [14]

Answer:

Retail Division $480,000

Commercial Division $30,000

Explanation:

To measure divisional income consider only those items attributable to a particular division.

Retail Division

Sales 2,150,000

Less Cost of Sales (1,300,000)

Controllable Contribution 850,000

Less Controllable Fixed Cost :

Selling expenses (150,000)

Allocated Central Cost (2,750/4,000×$320,000) (220,000)

Divisional Profit Contribution 480,000

Commercial Division

Sales 1,200,000

Less Cost of Sales (800,000)

Controllable Contribution 400,000

Less Controllable Fixed Cost :

Selling expenses (150,000)

Allocated Central Cost (1,250/4,000×$320,000) (220,000)

Divisional Profit Contribution 30,000

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3 years ago

What statement below best defines "exporting pollution"? When a country decreases its exports, resulting in a lower level of dom

tamaranim1 [39]

Answer:

"Exporting pollution" occurs when a country reduces its domestic pollution, but increases imports that cause pollution in other countries.

Explanation:

Exporting pollution is a commercial and environmental process through which the most developed countries send their most polluting companies to produce their goods to underdeveloped countries. These companies, generally industrial, transfer their production of carbon dioxide and other polluting gases to these countries, which receive large employers and economic benefits but in turn accept higher rates of contamination in their territories.

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3 years ago