Kaitlin works with her clients to increase visibility and use of their websites using

Zephron Music purchased inventory for $4,400 and also paid a $260 freight bill. Zephron Music returned 25% of the goods to the

asambeis [7]

Answer:

Cost of the inventory kept by Zephron Music is $3495

Explanation:

Zephron Music purchased inventory for $4,400 and also paid a $260 freight bill

Inventory $4660 (debit)

Trade Payable $ 4400 (credit)

Bank $260 (credit)

Recognise an Asset - Inventory and De-recognise asset - Bank

Zephron Music returned 25% of the goods to the seller, took a 1% purchase discount

Trade Payable $1212

Inventory $1165 (credit)

Discount Received $47 (credit)

Therefore Inventory Balance = $4660-1165 = $3495

6 0

3 years ago

Teagan Company uses Departmental Overhead allocation to allocate its manufacturing overhead costs. It has identified two depart

Sunny_sXe [5.5K]

Answer:

Machining:

Allocated MOH= $603

Assembly:

Allocated MOH= $450

Explanation:

Giving the following information:

Machining:

Allocates overhead using machine-hours

Estimated manufacturing overhead: $670,000

Estimated machine-hours= 10,000

Assembly:

Allocates overhead using direct labor hours.

Estimated manufacturing overhead: $450,000

Estimated direct labor hours= 15,000 hours

First, we need to calculate the estimated manufacturing overhead rate for each department:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

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

Machining:

Estimated manufacturing overhead rate= 670,000/10,000= $67 per machine hour

Assembly:

Estimated manufacturing overhead rate= 450,000/15,000= $30 per direct labor hour.

Job 601:

Machining Department: 9 Machine Hours

Assembly Department: 15 DL hours

To allocate overhead we use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Machining:

Allocated MOH= 67*9= $603

Assembly:

Allocated MOH= 30*15= $450

5 0

3 years ago

We are evaluating a project that costs $744,000, has a six-year life, and has no salvage value. Assume that depreciation is stra

yawa3891 [41]

Answer: $15,400

Explanation:

BEP = Fixed cost - depreciation/ sales - variable cost

BEP = 740,000 - (744,000/6)/($60 -$20)

BEP= $740,000-$124,000/$40

BEP = $616,000/$40

BEP =$15,400

8 0

3 years ago

If you have employees you’ll have to pay the ____ tax which is used to pay compensation to workers who lose their jobs

Olenka [21]

Answer:

B. FUTA will be the correct answer which means Federal Unemployment Tax Act.

Explanation:

If your google the meaning of FUTA it will bring up the meaning

3 0

3 years ago

Read 2 more answers

Acme, Inc., which manufactures the fireworks that municipal governments buy to put on their annual fireworks shows on the Fourth

kap26 [50]

Answer:

Reshoring.

Explanation:

Reshoring is the process of returning the production and manufacturing of goods back to the company's original country. Reshoring is also known as onshoring, inshoring or backshoring.

7 0

3 years ago