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Delvig [45]
3 years ago
14

Here is some basic data for Bella​ Company: Cost of materials purchases on account $ 81 comma 000 Cost of materials requisitione

d​ (includes $ 2 comma 900 of​ indirect) $ 55 comma 000 Direct labor costs incurred $ 95 comma 300 Manufacturing overhead costs​ incurred, including indirect materials $ 93 comma 500 Cost of goods completed $ 252 comma 200 Cost of goods sold $ 137 comma 600 Beginning raw materials inventory $ 19 comma 900 Beginning work in process inventory $ 34 comma 600 Beginning finished goods inventory $ 36 comma 000 Predetermined manufacturing overhead rate​ (as % of direct labor​ cost) 115​% The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma 250.
Business
1 answer:
Nikolay [14]3 years ago
3 0

Answer:ompany: Cost of materials purchases on account $ 81 comma 000 Cost of materials requisitioned​ (includes $ 2 comma 900 of​ indirect) $ 55 comma 000 Direct labor costs incurred $ 95 comma 300 Manufacturing overhead costs​ incurred, including indirect materials $ 93 comma 500 Cost of goods completed $ 252 comma 200 Cost of goods sold $ 137 comma 600 Beginning raw materials inventory $ 19 comma 900 Beginning work in process inventory $ 34 comma 600 Beginning finished goods inventory $ 36 comma 000 Predetermined manufacturing overhead rate​ (as % of direct labor​ cost) 115​% The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma 250.

Explanation:ts​ incurred, including indirect materials $ 93 comma 500 Cost of goods completed $ 252 comma 200 Cost of goods sold $ 137 comma 600 Beginning raw materials inventory $ 19 comma 900 Beginning work in process inventory $ 34 comma 600 Beginning finished goods inventory $ 36 comma 000 Predetermined manufacturing overhead rate​ (as % of direct labor​ cost) 115​% The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma 250.

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Answer:ompany: Cost of materials purchases on account $ 81 comma 000 Cost of materials requisitioned​ (includes $ 2 comma 900 of​ indirect) $ 55 comma 000 Direct labor costs incurred $ 95 comma 300 Manufacturing overhead costs​ incurred, including indirect materials $ 93 comma 500 Cost of goods completed $ 252 comma 200 Cost of goods sold $ 137 comma 600 Beginning raw materials inventory $ 19 comma 900 Beginning work in process inventory $ 34 comma 600 Beginning finished goods inventory $ 36 comma 000 Predetermined manufacturing overhead rate​ (as % of direct labor​ cost) 115​% The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma 250.

 

Explanation:

 f manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma 250.

Hold on, our servers are swamped. Wait for your answer to fully load.

 $ 252 comma 200 Cost of goods sold $ 137 comma 600 Beginning raw materials inventory $ 19 comma 900 Beginning work in process inventory $ 34 comma 600 Beginning finished goods inventory $ 36 comma 000 Predetermined manufacturing overhead rate​ (as % of direct labor​ cost) 115​% The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of A. $ 75 comma 400. B. $ 63 comma

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Answer:

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

Explanation:

Hoosier Company Journal entries

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

($985,000-$940,000)

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

8 0
3 years ago
The AUD/$ spot exchange rate is AUD1.60/$ and the SF/$ is SF1.25/$. The AUD/SF cross exchange rate is _____. Group of answer cho
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Answer:

a. $1.2800

Explanation:

The AUD/SF cross exchange rate is as computed below:

==> AUD/$ ÷ SF/$

==> $1.60 / $1.25

==> $1.2800

So, the AUD/SF cross exchange rate is $1.2800

6 0
3 years ago
Adams Moving and Storage, a family-owned corporation, declared a property dividend of 1,200 shares of GE common stock that Adams
KATRIN_1 [288]

Answer:

Explanation:

The journal entries are shown below:

1. Loss on Investment A/c Dr $1,800        (1,200 shares × $31 - $39,600)

            To GE shares investment A/c $1,800

(Being the adjustment is recorded)

2. Retained earnings A/c Dr $37,200         (1,200 shares × $31)

           To Property Dividends Payable $37,200

(Being the entry is made on declaration date)

3. Property Dividends Payable A/c $37,200

             To GE shares investment A/c $37,200

(Being the entry is made on payment date)

4 0
3 years ago
North Bank has been borrowing in the U.S. markets and lending abroad, thereby incurring foreign exchange risk. In a recent trans
Vsevolod [243]

Answer:

A) 10.82%

B) 5.27%

C) 8.56%

Explanation:

Given data :

North Bank Borrow ; $1.4 million at 5 percent

Lend in pounds at 9%

spread = ( 4% )

spot rate = 1.454

<u>A)  Determine the loan rate to maintain the 4 percent spread</u>

Expected spot rate = 1.43

First step :

Lending amount = $1.4 million / initial spot rate = 1.4 / 1.454 = £ 0.9628 million

next :

calculate the final amount  Required in $ to maintain 4% Spread

= principal ( $1.4 million ) + interest ( 9% of 1.4 ) = 1.4 + 0.126 = $1.526 million

In pound ( at the expected spot rate )

= 1.526 / 1.43 = £1.067 million

expected profit = £1.067 - £0.9628 = £ 0.1042 million

Therefore the interest rate tp maintain the 4 percent spread

= 0.1042 / 0.9628 = <em>10.82%</em>

B) <u>Determine the net interest margin if the bank hedges its forward foreign exchange exposure</u>

Forward rate = 1.46

assuming interest as value calculated above = ( 10.82% )

lending amount = £0.9628 million

Repayment = 0.9628 * 111%  * 1.46 = $1.5603 million

therefore return rate = $1.5603 - $1.4  = $0.1603 million = 10.27%

hence : Net interest margin = 10.27% - 5% = 5.27%

<u> C)  Determine the loan rate to maintain the 4 percent spread if the bank intends to hedge its exposure using the forward rates.</u>

Forward Hedging contract forward rate =  1.46

lending amount = $1.4 / 1.454 =  £ 0.9628 million

Total Interest and Principal Repayment Required in $ to maintain 4% Spread = $1.526 million

In pound = 1.526 / 1.46 = £ 1.0452

Interest = £1.0452 -  £0.9628 =  £0.0824 million

therefore interest Rate to maintain 4℅ Spread

= ( 0.0824 / 0.9628 ) * 100  = 8.56%

3 0
3 years ago
Which of the following is not typical of traditional costing systems? Use of direct labor hours or direct labor cost to assign o
EleoNora [17]

Answer:

The correct answer is use of multiple cost drivers to allocate overhead

Explanation:

Use of direct labor hours or direct labor cost to assign overhead to products is typical  of traditional costing systems as overhead is believed to have positive relationship with labor-related variables.

Besides,using a business-wide or plant-wide single predetermined overhead rate is not feature of traditional systems of costing.

Since labor-related variables such as direct labor hours or direct labor cost is assumed to be a driver of overhead cost,hence an appropriate overhead absorption basis,it is perfectly understood that there is correlation between direct labor and incurrence of overhead cost in the business.

8 0
3 years ago
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