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Neporo4naja [7]
3 years ago
8

The Marshall Company has a process costing system. All materials are added when the process is first begun. At the beginning of

September, there were no units of product in process. During September 50,000 units were started; 5,000 of these were still in process at the end of September and were 3/5 finished. The equivalent units of material in September were:a. 40,000.
b. 45,000.
c. 48,000.
d. 50,000
Business
1 answer:
Korolek [52]3 years ago
3 0

Answer:

D. 50,000

Explanation:

Units started and completed=50000-5000=45000

Ending work in process= 5000

Equivalent units of material= 50000

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Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in Fe
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Answer:

Journal entries

Feb 01

Rent Expense                                           Debit               $ 200

Cash                                                          Credit                                   $ 200

Record payment of hanger rent for Feb

Feb 04

Cash                                                          Debit              $ 800

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Recording of cash received in advance

Feb 7

Cash                                                           Debit             $ 900

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To record service revenue received in cash

Feb 10

Salaries and wages                                  Debit           $ 1,200

Cash                                                          Credit                                $ 1,200

To record salaries paid for services received in February

Feb 14

Advertisement expenses                         Debit          $    100

Cash                                                          Credit                               $    100

To record payment of advertisement expenses

Feb 18

Cash                                                          Debit            $ 500

Accounts Receivables                              Debit         $ 1,200

Service Revenue                                       Credit                             $ 1,700

To record services provided on cash and on credit

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Supplies Inventory                                   Debit           $ 1,350

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Recording of purchase of supplies for future use on credit

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Explanation:

Computation of net income and net profit margin

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Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common.

As of January 1, 2021, the following accounts had the following balances: Common Stock $10,000, preferred stock $5,000, retained earnings was $9,600.

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