Answer:
$1,100
Explanation:
Computation for the Work-in-Process transferred to the finished goods warehouse on April 30
Work-In-Process Inventory, April 1 300
Direct materials used in production 225
Direct labor costs incurred 400
Manufacturing overhead costs 350
Less Work-In-Process Inventory, April 30 ($175)
Work-in-Process transferred to the finished goods warehouse $1,100
Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 will be $1,100
Solution:
Given,
Fisher plumbing supply Co. had sales of $2,780,000
Wrote off $16,000 of accounts as noncollectable
Net income of $120,000
Now,
Expense under direct write off: 16,000
Expense under Allowance: ($2,780,000*1%) = 27,800
which means expense is understated by = 27,800 - 16,000 = 11,800.
so, the net income under allowance would be 120,000 -11,800 = 108,200
Answer:
a. $259.70
Explanation:
Note: The full question is attached as picture below
Predetermined overhead rate = 2 + (294300/32700)
Predetermined overhead rate = $11
Job T687 Total cost = Direct materials cost + Direct labor cost + Overhead applied
Job T687 Total cost = 545 + 1090 + (20*11)
Job T687 Total cost = 545 + 1090 + 220
Job T687 Total cost = 1855
Cost per unit = $1,855 / $10
Cost per unit = $185.5
Selling price per unit = Cost per unit + Mark-up price
Selling price per unit = $185.5 + $185.5*40%
Selling price per unit = $185.5 + $74.20
Selling price per unit = $259.70
Answer:
Antitrust law
Explanation:
Antitrust law are a collection of federal and state laws which is meant to create a conducive atmosphere for businesses to operate, such that there would be healthy competition among businesses. This law cut across all sectors such as transportation, health, manufacturing industries etc.
Examples of law promulgated for antitrust are the Sherman act, the Clayton act; all of which are responsible for the prohibition of certain practises by business such as illegal price fixing and corporate mergers which could hinder a market from being competitive, hence break them into smaller units.
Answer:
The loan applicant would qualify for the mortgage debt ratio in option a because his mortgage debt ratio is 24% and the allowable mortgage debt ratio is 28%.
Explanation:
First, you have to calculate the debt ratio in each case. It is calculated by dividing the total debt by the income.
a. Debt= $600
Income= $2,500
Mortgage debt ratio=600/2,500= 0.24→24%
b. Debt=$600+$250+$75=$925
Income=$2,500
Total Debt ratio=925/2,500= 0.37→37%
The loan applicant would qualify for the mortgage debt ratio because his mortgage debt ratio is 24% and the allowable mortgage debt ratio is 28%. The loan applicant would not qualify for the total debt ratio because his ratio is 37% and the allowable total debt ratio is 36%.