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3 years ago

Larned Corporation recorded the following transactions for the just completed month.

Business

1 answer:

Yanka [14]3 years ago

8 0

Answer with its Explanation:

Part 1: $89,000 in raw materials were purchased on account.

The purchase of raw material inventory on account is treated as increase in raw material inventory and accounts payables. The journal entry would be as under:

Dr Raw Material Inventory $89,000

Cr Accounts Payables $89,000

Part 2: $87,000 in raw materials were used in production. Of this amount, $76,000 was for direct materials and the remainder was for indirect materials.

The entry would be increase in work in progress by $76,000 & Manufacturing overhead by $11,000 and would decrease the raw material inventory with $87,000.

The journal entry would be as under:

Dr Work In Progress $76,000

Dr Manufacturing Overhead $11,000

Cr Raw Material Inventory $87,000

Part 3: Total labor wages of $128,500 were paid in cash. Of this amount, $103,000 was for direct labor and the remainder was for indirect labor.

The direct cost are allocated to the work in progress and indirect costs are allocated to manufacturing overheads.

The journal entry would be as under:

Dr Work In Progress $128,500

Dr Manufacturing Overhead $103,000

Cr Cash Account $231,500

Part 4: Depreciation of $190,000 was incurred on factory equipment.

The depreciation of the factory equipment is an indirect cost and all the indirect costs are charged to manufacturing overhead.

The journal entry would be as under:

Dr Manufacturing Overhead $190,000

Cr Cash Account $190,000

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Revising for Conciseness - Eliminating Flabby Expressions,Limiting Long Lead-Ins, and Dropping Unnecessary Fillers

Mama L [17]

Answer: 2. 2. We have identified a problem with our expense sheet, but we will solve it.

3. 2. The user should contact the help center.

4. 1. In the future, we should be more careful about scheduling.

Explanation:

2. By choosing Option 2, the writing is more concise and but still has all the necessary details unlike the other options that are unnecessarily long.

3. Option 2 does not make assumptions like option 1 did which is wrong. Option 3 would be better but the text did not include the bit about the problem this making Option 2 best.

4. Option 1 is the best option because it is clear and concise and eliminates the long lead-in.

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3 years ago

Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division’s return o

baherus [9]

Answer:

NPV: $180,285.49

IRR: 21.336%

simple rate of return: 72.13%

Explanation:

6,100,000 investment

contribution margin 3,000,000

fixed expense: 900,000

EBITA 2,100,000

We will calculate the NPV without the depreciation, as the depreciation is the distribution of the investment cost over the project life.

If we include the depreciation we will be counting the investment amount twice. Entirely at Time 0 and then subtracting on each cash inflow.

We will calculate the NPV at 20% as is the company's discount rate. Even if the current division returns are in 24% as the company accepts project which yields 20%.

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 2,100,000

time 5 years

rate 20% = 20/100 = 0.2

$2100000 \times \frac{1-(1+0.2)^{-5} }{0.2} = PV\\$

PV $6,280,285.49

NPV = PV of cash inflow - investment

6,280,285.49 - 6,100,000 = 180,285.49

the IRR:

The internal rate of return is the rate at which the NPV of a priject is zero.

We calculate this using excel formula IRR

or a financial calculator

it could also be done with trial and error using the PV tables.

I will explain you in Excel

FIrst, you write the inflow and outflow per year:

-6,100,000

2,100,000

then we write on another cell:

=IRR(

then, select the cells

and press enter

21.336%

the simple rate of return:

(total return - investment) / investment

(2,100,000 x 5 - 6,100,000) / 6,100,000 =

4,400,000 / 6,100,000 = 0.721311475 = 72.13%

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3 years ago

Brian vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is:

Verizon [17]

The answer is he is not part of the labor force. Since the labor force is comprises of the employed and the unemployed. The remainder— persons who are neither employed nor unemployed are not in the labor force. This group comprises retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work. Since the mid-1990s, naturally fewer than 1 in 10 people not in the labor force stated that they want a job.

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3 years ago

The value of what businesses provide to other businesses is captured in the final products at the end of the __________ chain. s

Ira Lisetskai [31]

The value of what businesses provide to other businesses is captured in the final products at the end of the production chain. During the production chain the product goes through various steps to reach its end result. Each step in the chain adds more value to the product. Once it reaches the end of the chain the true test is the value it provides to business that ends up using the item. An example of this is a home being built. During each stage of the home building process the home is getting closer to its true test, when the owners move in. From the floor being poured to the walls going up, each step makes the house closer to becoming someones home.

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3 years ago

Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause _____

Leokris [45]

Answer:

d) no change; a decrease

Explanation:

The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP. The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:

1) Growth of productivity that means the ratio of economic outputs to inputs

2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.

3)Labor Force participation which means that which amount participation there is in labor activities.

As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.

Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.

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3 years ago