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Rudik [331]
2 years ago
14

In the Month of March, Digby Corporation received orders of 128 units at a price of $15.00 for their product Daze. Digby uses th

e accrual method of accounting and offers 30 day credit terms. Digby delivers 86 units in March and the balance of 43 units in April. They received payment for 43 units in March, 43 units in April, and 43 units in May. How much revenue is recognized on the March income statement from this order
Business
1 answer:
Montano1993 [528]2 years ago
6 0

Answer:

$1,290

Explanation:

The revenue to be recognized in march is dependent on if the revenue recognition criteria was met in march. These criteria are

  • the cost of goods delivered or service rendered can be measured reliably
  • good/services were delivered/rendered in the month

This is irrespective of whether cash was collected or not under the accrual method.

Given that Digby delivers 86 units in March at a price of $15.00, revenue to be recognized

= 86 * $15

= $1,290

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Answer:

4

Explanation:

There are 3 jars which equal 4 jars which equal 3

5 0
3 years ago
Conversion cost per equivalent unit is the combined costs of direct materials and factory overhead.
Maksim231197 [3]

Answer:

False

Explanation:

Cost

This is simply defined as a payment of cash or the commitment to pay cash in the future for revenues purpose. E.g. The cash used to purchase a tractor, is the cost of the tractor.

Conversion costs

This is simply regarded as direct materials, direct labor, and factory overhead costs that can be selected together or grouped together for analysis and reporting. It consist of direct labor in factory overhead costs.

The Equation for Conversion cost is simply = Direct Labor Cost + Manufacturing Overhead Cost.

While the Equivalent Units of Production = Number of Units Transferred to the next department + Equivalent Units in Ending Works in Process Inventory.

The equation for Equivalent units of production for conversion cost is given below: Units completed and transferred out + Equivalent units in ending work in process for conversion cost.

The equation for Cost per equivalent unit for conversion cost is simply =

(conversion cost of beginning work in process + conversion cost added during the period)/ Equivalent units of production for conversion cost.

8 0
2 years ago
Boyd Docker recorded the following transactions during the month of April. Apr. 3 Cash 3,400 Service Revenue 3,400 16 Rent Expen
Nutka1998 [239]

Answer:

$6,450

Explanation:

The general ledger of a cash account is presented below:

                                            Cash Account

Date     Particulars           Amount        Date     Particulars           Amount

April 1    Beginning                                 April 16  Rent expense     $460

             Balance               $3,850

April 3  Service                                      April  20   Salaries and

            Revenue              $3,400                         Wages expense $340

                                                               April 30  Ending balance   $6,450

The ending  balance would be

= Beginning balance + service revenue - rent expense - salaries and wages expense

= $3,850 + $3,400 - $460 - $340

= $6,450

6 0
3 years ago
ASICS What is the shoe equivalent size for US?
kozerog [31]
Here is a sizing chart from the Kohl’s website and they sell ASICS

3 0
3 years ago
El Tapitio purchased restaurant furniture on September 1, 2021, for $35,000. Residual value at the end of an estimated 10-year s
Romashka-Z-Leto [24]

Answer and Explanation:

The computation of the depreciation expense using straight line method is shown below:

Formula to be used:

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For 2021

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= $3,000

For 4 months, it would be

= $3,000 × 4 months ÷ 12 months

= $1,000

And, for the year 2021, it would be the same i.e. $3,000

3 0
2 years ago
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