Answer:
The correct answer is 63,200 kg.
Explanation:
According to the scenario, the computation of the given data are as follows:
Raw material required for production = Production in units × req. raw material per unit
= 16,000 units × 4 kg
= 64,000 kg.
Beginning inventory = (64,000 kg) × 10%
= 6,400 kg
Ending inventory = ( 14,000 × 4 kg) × 10%
= 56,000 kg × 10%
= 5,600 kg
So, we can calculate the budgeted purchases of raw materials by using following formula:
Budgeted purchases of raw materials = Raw material required for production + Ending inventory - Beginning inventory
= 64,000 kg + 5,600 kg - 6,400 kg
= 63,200 kg
Answer:
Debit Accounts receivable 7,200
Credit Sales 7,200
Debit Cost of Merchandise Sold 3,950
Credit Merchandise Inventory 3,950
Explanation:
When Corbit corps sells merchandise on account it means that cash was not received for the transaction. So we debit accounts receivable (an asset account to indicate increase in amount receivable by us). A credit is now passed to sales to show increased sales.
On merchandise we debit cost of merchandise sold and credit Merchandise inventory (an asset account is credited to indicate reduction) to indicate merchandise has reduced.
Answer:
Chartered Accountant or Certified public accountant.
Explanation:
Chartered accountant is a designation or degree provided to the Accounting professional across the world except in United states, they have another equivalent designation of Certified public accountant. This designation required knowledge on accounting, tax, auditing, etc. They need to qualify in a rigorous accounting examination. As a professional their responsibility is to create financial statement, filling or helping company to file or calculate tax and providing financial advice.
D. Because he is listening to her fully and making sure he fully understands what she is asking
Answer:
a. $4,322.74
b. Yes
Explanation:
a. The computation of December futures is shown below:-
December futures = June futures × (1 + 1.9%)
= $1490.60 × (1 + 1.9%)
= $1490.60 × 2.9
%
= $4,322.74
Since the current interest rate is 3.8% and the contract is expired in 6 months so we half the interest rate i.e 1.9%
b. Yes, there is an arbitration opportunity here due to the difference between the future price of December. The real futures price for December is $1,500 and the potential price for December's parity relationship is $4,322.74
