The best cost system to use for a company producing a continuous stream of similar items would be a:

May 11 sydney accepts delivery of $40,000 of merchandise it purchases for resale from troy: invoice dated may 11; terms 3/10, n/

k0ka [10]

Answer:

Journal entries for Sydney (buyer)

May 11. Merchandise is accepted.

Dr Merchandise inventory 40,000

Cr Accounts payable 40,000

May 11. Shipping costs.

Dr Merchandise inventory 345

Cr Cash 345

May 12. Returned merchandise.

Dr Accounts payable 1,400

Cr Merchandise inventory 1,400

May 20. invoice paid within discount period.

Dr Accounts payable 38,600

Cr Cash 37,442

Cr Purchase discounts 1,158

Journal entries for Troy (seller)

May 11. Sold merchandise.

Dr Accounts Receivables 40,000

Dr Cost of Goods Sold 30,000

Cr Sales revenue 40,000

Cr Merchandise inventory 30,000

May 12. Returned merchandise.

Dr Sales returns and allowances 1,400

Dr Merchandise inventory 1,050

Cr Accounts receivables 1,400

Cr Cost of goods sold 1,050

May 20. Invoice paid.

Dr Cash 37,442

Dr Sales discounts 1,158

Cr Accounts receivables 38,600

7 0

3 years ago

A company pays its employees $4,200 each Friday, which amounts to $840 per day for the five-day workweek that begins on Monday.

natita [175]

Answer:

e. $3,200

Explanation:

According to accrual concept the expense which is incurred but not been paid should be recorded in the same period when it is accrue.

At the end of the period only 4 days from Monday to Friday is pased for which the wages have not been paid. The expense is accrued and unpaid.

Pay per day = $800

Pay for 4 days = $800 x 4 = $3,200

6 0

3 years ago

Transferring a strategic plan into a reality can take more than planning. Provide an example of a leader who has transformed a s

vladimir1956 [14]

Explanation:

Strategic planning is essential for a company to be well positioned in the market and achieve success. However, more than planning, it is necessary to carry out the actions that will lead the company to achieve its objectives.

An example of a leader who knew how to effectively execute his strategies and make his company globally recognized was Steve Jobs. He wanted to create pioneering products in technological innovation and that at the same time had a focus on the needs and desires of the consumer, in addition to the central functionalities, Apple devices combined characteristics that differentiated them from their competitors, bringing a whole concept behind the brand, combining technology, innovation, design and other elements that transfer value to the product and position the brand in the market.

The greatest examples of business that can be learned from Steve Jobs is to keep the focus on innovation and customer loyalty, combining simplicity for the use of computers and cell phones with a high quality that has become a reference.

7 0

3 years ago

In the case of a small country, producer surplus Group of answer choices is not changed by tariffs or quotas. increases the same

rusak2 [61]

Answer:

increases the same amount with tariffs and equivalent quotas.

Explanation:

In Economics, a surplus refer to the amount by which the quantity supplied of a good exceeds the quantity demanded of the same good.

A producer surplus is the amount by which a buyer is willing to pay for a particular good minus the cost of producing the same good.

On the other hand, a consumer surplus is the amount by which a buyer is willing to pay for a particular good minus the amount the buyer actually pays for it.

In the case of a small country, a producer surplus increases (raises) the same amount (an amount a buyer is willing to pay for a good minus the cost of producing the good) with tariffs and equivalent quotas.

A tariff can be defined as tax levied by the government of a country on goods and services imported from another country.

Generally, tariffs can reduce both the volume of exports and imports in a country. In order to generate revenues, domestic government make use of tariffs while quotas do not generate any revenue for them.

4 0

3 years ago

Leaper Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total

NNADVOKAT [17]

Answer:

Order processing= $930 per order

Explanation:

<u>First, we need to calculate the estimated costs for order processing:</u>

Order processing cost= (380,000*0.3) + (150,000*0.45) + (170,000*0.3)

Order processing cost=$232,500

<u>Now, we can calculate the activity rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Order processing= 232,500 / 250

Order processing= $930 per order

8 0

3 years ago