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3 years ago

A chart of accounts

Business

2 answers:

zhenek [66]3 years ago

5 0

The answer is D all of the above

allochka39001 [22]3 years ago

4 0

Answer:

I think the answer is D) all the above.

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Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual

Luden [163]

Answer:

The option (c) $89,100 unfavorable is correct

Explanation:

Solution

Recall that:

The actual price per gallon = $11.75

Actual gallons of material used= 5,000

Actual hourly labor rate= $17.00

Actual hours of production= 24,300

Standard price per gallon =$12.00

Rate of labor = $12.00

Now,

We find the total direct labor variance which is computed as follows:

Total Direct Labor Variance = Actual Direct Labor Cost - Standard Labor Cost

=24300*17 -3*9000*12

= 413,100 -32400

= -89,100 (unfavorable)

Therefore, the total direct labor variance is $89,100

5 0

3 years ago

A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective

Slav-nsk [51]

Answer:

The question is missing below:

Eneri Company's inventory records show the following data:

Units Unit Cost

Inventory, January 1 10,000 $9.20

Purchases: June 8 9,000 $8.00

November 8 6,000 $7.00

Under FIFO method,the December 31 inventory is valued at $28,000

Explanation:

Under FIFO first-in first out ,the understanding is that inventory bought first is the first to be sold,hence the closing inventory is to be valuated at the price of the last purchase since the last purchase units is more than closing inventory.

As a result, the 4,000 closing inventory is to be valued at $7 each,which gives $28,000($7*4000).

6 0

3 years ago

Henry Jones contributed equipment, inventory, and $53,300 cash to a partnership. The equipment had a book value of $25,500 and m

gogolik [260]

Answer:

$94,000

Explanation:

Henry Jones contributed a cash of $53,300 to the partnership

The equipment had a book value of $25,500 and a market value of $32,900

The inventory had a book value of $51,900 and a market value of $16,000

The partnership assumed a note payable of $14,500 that was owed by Henry

Therefore, the amount that should be recorded in Henry's capital can be calculated as follows

= $53,300+$39,200+$16,000-$14,500

= $108,500-$14,500

= $94,000

Hence $94,000 should be recorded in Henry's capital account

6 0

3 years ago

he Smathers Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .52 and a cu

MakcuM [25]

Answer:

Current Ratio = Current Assets / Current Liabilities

1.41 = Current Assets / 2,465

Current Assets = $3,475.65

Return on Equity= Net Income / Shareholders' Equity

Net Income = $10,675 * 9%

Net Income = $960.75

0.14 = 960.75 / Shareholders' Equity

Shareholders' Equity = $6,862.50

Long Term Debt Ratio = Long Term Debt / (Long Term Debt + Equity)

Let the Long Term Debt be "x"

0.52 = x / (x + 6,862.50)

0.52x + $3,568.50 = x

0.48x = $3,568.50

x = $7,434.38

Long-term Debt = $7,434.38

So, Total Assets = Current Liabilities + Long-term Debt + Stockholders' Equity

Total Assets = $2,465 + $7,434.38 + $6,862.50

Total Assets = $16,761.88

Total Assets = Current Assets + Net Fixed Assets

$16,761.88 = $3,475.65 + Net Fixed Assets

Net Fixed Assets = $13,286.23

7 0

4 years ago

Why is it important for every person to keep track of their earnings and spending patterns?

PSYCHO15rus [73]

It is important because that is how you budget and how you are able to save money if an emergency comes up

4 0

3 years ago