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gulaghasi [49]
3 years ago
14

The Beach Shack Company produced 5,500 cakes that require 3 standard pounds per unit at $3. 00 standard price per pound. The com

pany actually used 16,650 pounds in production. Journalize the entry to record the standard direct materials used in production.
Business
1 answer:
prohojiy [21]3 years ago
4 0

Answer:

Explanation:

Standard pounds per cake = 3 pounds

Standard unit price = $3

Standard pounds 5500 cakes = 16,500 pounds

Actual pounds per 5500 cakes = 16,650

Variance = (16,650 - 16,500)=150

Cost of actual materials used = actual materials * standard price

=16,650*3 =49,950

Cost of work in progress = Standard materials * standard price = 16,500*3= 49.500

Direct material quantity variance = Quantity variance * 3

150*3 = 450

Journal entry

Debit work in progress = 49,500

Debit material quantity variance = 450

Credit Material = 49,950

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Health mart is a retail store selling home oxygen equipment. health mart also services home oxygen​ equipment, for which the com
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Answer:

1. Cash budget from April to June are

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This is sufficient to cover its expense and leave the minimum balance of $250.

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3. The cash budget is a key requirement of the Financial Director of any business:

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1.

Cash Budget from April to June

April

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Cash inflow = $8,000

*Service cash inflow - $4,200 - Credit Sales received this month (60%) + $4,000 credit sales received from last month sales (40%)

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Cash inflow = $7,500

*Service cash inflow - $4,400 - Credit Sales received this month (60%) + $4,200 credit sales received from last month sales (40%)

Cash inflow = $2,640 + $1,680 = $4,320

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June

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Cash inflow = $9,000

*Service cash inflow - $4,600 - Credit Sales received this month (60%) + $4,400 credit sales received from last month sales (40%)

Cash inflow = $2,760 + $1,760 = $4,420

Total inflow = $13,420

2a.

Expected expenditure = $11,000

Deduct: Opening cash Balance = $400

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2b.i.

May (adjusted inflow)

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Expected expenditure = $11,000

Deduct: Opening cash Balance = $400

Add: Cash Balance projection = $250

= Minimum Cash inflow from Revenue in May 2018 = $10,850

Actual Cash inflow in May (adjusted inflow) = $10,806

2b.ii.

Expected expenditure = $11,550

Deduct: Opening cash Balance = $400

Add: Cash Balance projection = $250

= Minimum Cash inflow from Revenue in May 2018 = $11,400

Actual Cash inflow in May = $11,820

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