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4 years ago

EA14.

Business

1 answer:

cricket20 [7]4 years ago

3 0

Answer:

$1.86; $3.5

Explanation:

Total cost incurred:

= Cost received from departments + Addition of cost within its departments

= $10,000 + $27,200

= $37,200

Unit cost for materials:

= Total cost incurred ÷ equivalent units

= $37,200 ÷ 20,000

= $1.86

Total cost incurred:

= Cost received from departments + Addition of cost within its departments

= $10,000 + $53,000

= $63,000

Unit cost for Conversion:

= Total cost incurred ÷ equivalent units

= $63,000 ÷ 18,000

= $3.5

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A vertical analysis calculates percentages to compare the parts of an individual statement to the whole. For example, on an inco

vichka [17]

Answer:

1. True

Explanation:

Vertical analysis the the percentage calculation of each item of Income statement with Gross revenue. We calculate the percentage of Gross margin which is the percent of Gross income and gross sales. Just like this the COGS to sales, Net income margin, operating income margin and operating expenses to sales ratio are calculated in vertical analysis to check the sensitivity of each part of the income to the gross income.

Ye it is true that A vertical analysis calculates percentages to compare the parts of an individual statement to the whole. For example, on an income statement, each item could be shown as a percentage of net sales.

7 0

3 years ago

Breakwater Aquatics has a 45 day accounts receivable period. The estimated quarterly sales for this year, starting with the firs

LenaWriter [7]

Answer:

The accounts receivable balance at the beginning of the third quarter is $3,550

Explanation:

For computing the account receivable balance, first, we have to compute the credit sale per day, and then multiply with the number of days

In mathematically,

Credit sale per day = (Estimated second Quarter Sales) ÷ (accounts receivable period up to second quarter)

= $7,100 ÷ 90 days

= 78.89

Now the account receivable balance equals to

= Credit sales per day × accounts receivable period

= 78.89 days × 45 days

= $3550

Since the question is asking about the beginning of the third quarter so we considered second quarter sales

5 0

3 years ago

Preparing Adjusting Entries, Financial Statements, and Closing Entries

strojnjashka [21]

Answer:

1. Cash (Dr.) $145,850

Sales (Cr.) $145,850

2. Purchases (Dr.) $76,200

Accounts Payable (Cr.) $76,200

3. Accounts Payable (Dr.) $4,100

Cash (Cr.) $4,100

4. Prepaid Rent (Dr.) $24,000

Cash (Cr.) $24,000

5. Wages Expense (Dr.) $12,500

Cash (Cr.) $12,500

Wages Expense (Dr.) $350

Wages Payable (Cr.) $350

6. Depreciation Expense (Dr.) $1,700

Accumulated Depreciation (Cr.) $1,700

Explanation:

Journal entries are recorded for the business transactions. These transaction incurred in the business are recorded in the books of accounts. These journal entries then create Ledger and Trial balance.

3 0

3 years ago

Financial statement data for years ending December 31 for tango company follow

maxonik [38]

The inventory turnover for Tango company are: 4.8, 5.3.

<h3>Inventory turnover</h3>

Using this formula

Inventory Turnover = Cost Of Goods Sold / ((Beginning Inventory + Ending Inventory) / 2)

20Y7

Inventory Turnover =$3,864,000 /($770,000+$840,000)/2

Inventory Turnover=$3,864,000/$805,000

Inventory Turnover=4.8

20Y6

Inventory Turnover = $4,001,500 /($740,000+$770,000)/2

Inventory Turnover= $4,001,500 /$755,000

Inventory Turnover=5.3

Therefore the inventory turnover for Tango company are: 4.8, 5.3.

The complete question is:

Financial statement data for years ending December 31 for tango company follow

20Y7 20Y6

Cost of goods sold $3,864,000 $4,001,500

Inventories:

Beginning of year 770,000 740,000

End of year 840,000 770,000

Determine the turnover for 20Y7 and 20Y6.

Learn more about inventory turnover here:brainly.com/question/18914383

#SPJ1

8 0

2 years ago

Crane Corp., a company whose stock is publicly traded, provides a noncontributory defined-benefit pension plan for its employees

stiv31 [10]

Answer:

$118,000

Explanation:

Calculation to determine what Crane should report a pension asset / liability

Fair value of plan assets $740,000

Less Projected benefit obligation ($ 622,000)

Pension asset / liability $118,000

($740,000-$622,000)

Therefore Crane should report a pension asset / liability of $118,000

7 0

3 years ago