Answer:
(a) $190,000
(b) $2,185,000
(c) $3,125,900
(d) $841,090
(e) $561,260
(f) $1,200,000
Explanation:
Rainier and Yakima Company several balances are omitted. These are calculated with reverse calculation. The material inventory at beginning of may is added with the purchases made and then ending inventory is subtracted to identify cost of goods manufactured.
Answer:
D. Worksheet is a tool used in preparing adjusting entries and the financial statements, and the use of worksheet is optional
Explanation:
The correct option D because worksheet is used to adjust value and prepare the financial statements and it is not mandatory to use.
The post-closing trial balance might show that accounting equation is balanced but not every time. It only ensure the total of debits balances and total of credits balances are equal. All transaction might not correctly journalized.
The accounting cycle starts with analyzing the business transactions and ends with the preparation of a Financial Statements.
Property, Plant and Equipment are our physical, tangible and long term assets which include all land, office, building, Machinery, equipment and vehicles.
Answer:
$100 favorable
Explanation:
The computation of the material purchase price variance is shown below:
= Actual Quantity purchased × (Standard Price - Actual Price)
= 2,000 pounds × ($1.60 - $1.55)
= 2,000 pounds × $0.05
= $100 favorable
Simply we took the difference between the standard and the actual price, and then multiply it by the actual quantity purchased
Answer: I found the complete question on Google:
By 2017, McDonald's had stopped selling Chicken McNuggets and other products made from chickens fed antibiotics. The change increased McDonald's costs, but an article in the Wall Street Journal noted that "...McDonald's ability to raise its prices is limited because of stiff competition."Source: David Kesmodel, Jacob Bunge, and Annie Gasparro, "McDonald's to Curb Antibiotics in Chicken," Wall Street Journal, March 4, 2015. Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.
And the correct answer is: "B. No, the demand curve is not horizontal because Chicken McNuggets are not identical to other chicken products.".
Answer: Option A
Explanation: Operating income refers to the income that the company earns from performing its core operations. It is also denoted as EBIT. Thus, the difference between operating income and income after tax is the tax that has been deducted from the operating income.
While calculating accounting profit, opportunity cost is not deducted from the revenue hence before tax and after tax depicts the investments that were made to earn that profit.
