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Montano1993 [528]
3 years ago
8

Bunnell corporation is a manufacturer that uses job-order costing. on january 1, the company’s inventory balances were as follow

s:
Business
1 answer:
miss Akunina [59]3 years ago
5 0

Answer:

The answer is $70,000.

Explanation:

The answer for requirement 1 is $480000.

The answer of requirement 2 : Raw materials = $40,000

Raw material purchased = $510000

Total raw material available = $550000

Less : raw material = $480000

Raw material , ending balance = $70000.

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Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th
Ket [755]

Answer:

The correct answer for option (a) is $3,080 and for option (b) is $2,141.

Explanation:

(a). Current pay = $44

After 40 hours, Pay = $44 × 1.5 = $66

So, we can calculate the gross pay by using following formula:

Gross pay = (40 hours × $44 ) + (20 hours × $66)

= $1,760 + $1,320

= $3,080

(b).

Security Tax = Gross pay × 6% =  $3,080 × 6% = $184.8

Medicare Tax = Gross pay × 1.5% =  $3,080 × 1.5% = $46.2

Federal Income Tax = $708

So, we can calculate the net pay by using following formula:

Net Pay = $3,080 - $184.8 - $46.2 - $708

= $2,141

3 0
3 years ago
On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30.Since
konstantin123 [22]

Answer:

On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

Explanation:

On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%.  Therefore, the dollar had weakened against the Swiss francs by the same rate.

6 0
3 years ago
Read 2 more answers
The next 5 questions use the same below information. Company C had the following investment. Help them determine the financial s
valentinak56 [21]

Answer:

$143,600

Explanation:

Calculation for What is net income for 20X1 assuming the investment is short-term

Using this formula

Net income for 20X1 = Sales – Expenses + Unrealized gain on short-term investments

Let plug in the formula

Net income for 20X1 = $1,670,200 - $1,536,600 + $10,000

Net income for 20X1= $143,600

Therefore the net income for 20X1 assuming the investment is short-term will be $143,600

7 0
3 years ago
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The
Novosadov [1.4K]

Answer:

Have a good day today! You got this :)

7 0
2 years ago
Baker traded a building used in her business for some new land. Baker originally purchased the building for $50,000 and it had a
Fittoniya [83]

Answer:

The adjusted basis in the land after the exchange=-$10,000, meaning Baker realized a loss of $10,000 from the exchange

Explanation:

<em>Step 1: Determine the initial loss/gain in value of the building</em>

initial loss/gain=original purchase price-adjusted basis

where;

original purchase price=$50,000

adjusted basis=$30,000

replacing;

initial loss/gain=50,000-30,000=$20,000

initial loss in value=-$20,000

<em>Step 2: Determine the loss or gain from the exchange</em>

loss/gain=35,000-30,000=$15,000

gain=$15,000

Step 3: Determine other additional costs

Costs=loss=-$5,000

<em>Step 4: Determine the net gain/loss</em>

net gain/loss=-20,000+(15,000)+(-5,000)=-$10,000

The adjusted basis in the land after the exchange=-$10,000, meaning Baker realized a loss of $10,000 from the exchange

8 0
3 years ago
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