After posting the journal entries to the ledger, what is the balance of the Cash account?

Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni

dlinn [17]

Answer:

The correct answer is D: $1900

Explanation:

Giving the following information:

Sales revenue$ 4,000

Purchases of direct materials$ 400

Direct labor$ 450

Manufacturing overhead $ 620

Operating expenses$ 650

Beginning raw materials inventory$ 200

Ending raw materials inventory$ 180

Beginning work in process inventory$ 320

Ending work in process inventory$ 410

Beginning finished goods inventory$ 250

Ending finished goods inventory$ 200

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning work in process + direct materials + direct labor + manufacturing overhead - ending work in process

Direct materials= beginning inventory + purchase - ending inventory= 200 + 400 - 180= 420

cost of goods manufactured= 320 + 420 + 450 + 620 - 410= $1400

Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished goods

COGS= 250 + 1400 - 200= 1450

Operating income= sales - COGS - operating expenses

Operating income= 4000 - 1450 - 650= $1900

3 0

3 years ago

Jonathan Mfg. adopted a job-costing system. For the current year, budgeted cost driver activity levels for direct labor hours an

Hitman42 [59]

Answer:

C. $ 7,500

Explanation:

Estimated direct labor cost $ 100,000

Estimated direct labor hours 20,000 hours

Predetermined rate per direct labor hours $ 5 per direct labor hour

Actual hours used on a job 1,500 hours

Applied overhead based on the predetermined overhead

rate per direct labor hours

$ 5 per direct labor hours * 1,500 hours $ 7,500

The information regarding machine hours is not relevant to the requirements of the question.

4 0

3 years ago

How much do people that don’t go to college earn

Brrunno [24]

Answer:

They dont earn no more than $28,000 a year

5 0

2 years ago

Read 2 more answers

Select the correct answer from each drop-down menu.

LUCKY_DIMON [66]

Answer:

1. Technical improvements cause production costs to decline, which causes supply to increase and prices to decrease.

2. Decreased unemployment causes consumer incomes to increase which causes demand to increase and hence price to increase.

Explanation:

Demand refers to a consumer's desire to purchase a particular good or service at a given time for a specific price. Supply on the other hand, is the willingness of a producer to produce a particular good or service at a given time for specific price.

1. Production cost is a factor that influences supply. For example, cost of labor or raw material cost. When production costs fall, more products can be produced at a lesser cost. Hence'

The supply curve shifts right from S1 to S2.
This causes quantity supplied to increase from QS1 to QS2
And price to fall from P2 to P1. Please refer Diagram 1 in attachment.

2. When unemployment decreases, it means that more people are working in the economy and hence their incomes are also higher. This means there is a higher purchasing power and also higher demand for products. Hence,

The demand curve shifts from D1 to D2.
This causes quantity demanded to increase from QD1 to QD2
And price to increase from P1 to P2. Please refer Diagram 2 in attachment.

7 0

3 years ago

When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by?

sergij07 [2.7K]

When retained earnings are not enough to meet their long-term funding needs, businesses may be able to raise funds by <u>selling common stock</u>. Long-term funding can be defined as any financial tool with maturity going beyond one year (such as bank loans, bonds, leasing and other forms of debt finance), and public and private equity instruments.

<h3>What is a retained earnings?</h3>

Retained earnings are the total of profit an establishment has left over after paying all its direct costs, indirect costs, income taxes and its dividends to shareholders.

Therefore, the correct answer is as given above

learn more about retained earnings: brainly.com/question/25631040

#SPJ1

8 0

1 year ago