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Darya [45]
3 years ago
5

Those who work directly on the product to convert raw materials into a finished product are known as ____.

Business
1 answer:
Mars2501 [29]3 years ago
7 0

Answer:

Direct labor

Explanation:

Direct labor is the workers who converted the raw material into a finished product so that the finished product is ready for sale. The wages paid to the labor are classified in the direct labor itself.

It is specially allocated to the manufacturing process so that the product could be carried forward to the next level of the process and at the end the finished product is ready

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Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro
Virty [35]

Answer:

Scarbrough will receive and record cash of $538,685

The journal entry to record this transaction would be:

                             Debit        Credit  

Cash                 $2,900,300  

Interest Expense $89,700  

Notes Payable                 $2,990,000

Debit Cash for $2900300, debit Interest Expense for $89700, and credit Notes Payable for $2990000

Explanation:

In order to calculate the amount Scarbrough will receive and record cash we would have to make the following calculation:

Scarbrough will receive and record cash=Receivables-Amount of the hold back-Withheld as fee income-Less: Withheld as interest expense

Receivables= $600,000  

Amount of the hold back=$600,000 x 5%=$30,000  

Withheld as fee income=$600,000 x 3%=$18,000  

Withheld as interest expense=$600,000 × 15% × 54/365=$13,315  

Therefore, Scarbrough will receive and record cash=$600,000- $30,000-$18,000-$13,315=$538,685

Scarbrough will receive and record cash of $538,685

According to the given data to journal entry to record this transaction would be the following:

 

                              Debit        Credit  

Cash                 $2,900,300  

Interest Expense $89,700  

Notes Payable                 $2,990,000

Interest Expense=$2,990,000 x 3%=$89,700

5 0
2 years ago
A borrower expresses a reluctance to continue signing documents. The Notary Signing Agent may:
snow_tiger [21]

Answer:

Recommend the borrower contact the lender representative before signing anymore documents

Explanation:

Notary agents are usually independent professionals within the sector or third parties , who are contracted to create sure all loan documents are signed and notarized properly and delivered . A Notary agent isn't authorized to answer questions on the most points contained within the loan, however a notary agent can give opinions to a signer whether the terms of a loan are a good or not. But if the opinions are on interest rates or other questions concerning the loan, rather it would be best to refer the signer or borrower to contact the lender’s representative

3 0
3 years ago
How does a business achieve economies of scale?
vaieri [72.5K]

Answer:

Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods. Costs can be both fixed and variable. ... The larger the business, the more the cost savings.

7 0
3 years ago
Read 2 more answers
Sheridan Company had the following assets on January 1, 2022. Item Cost Purchase Date Useful Life (in years) Salvage Value Machi
Vlad [161]

Answer:

Jan 1

Dr Accumulated depreciation equipment 64,000

Cr Equipment 64,000

June 30

Dr Depreciation expenses 3,000

Cr Accumulated depreciation equipment 3,000

June 30

Dr Cash 11,300

Dr Accumulated depreciation equipment

37,300

Cr Gain on disposal 25,600

Cr Equipment 23,000

Dec 31

Dr Depreciation expenses 3,300

Cr Accumulated depreciation truck 3,300

Dec 31

Dr Loss on disposal of truck 9,600

Dr Accumulated depreciation 19,800

Cr Equipment 23,400

Explanation:

Sheridan Company Journal entries

Jan 1

Dr Accumulated depreciation equipment 64,000

Cr Equipment 64,000

June 30

Dr Depreciation expenses 3,000

Cr Accumulated depreciation equipment 3,000

June 30

Dr Cash 11,300

Dr Accumulated depreciation equipment

($23,000+$3,000+$11,300) 37,300

Cr Gain on disposal 25,600

Cr Equipment 23,000

Dec 31

Dr Depreciation expenses 3,300

($29,400-$3,000)/8

Cr Accumulated depreciation truck 3,300

Dec 31

Dr Loss on disposal of truck 9,600

($29,400- $19,800)

Dr Accumulated depreciation 19,800

($3,300×6)

Cr Equipment 23,400

8 0
2 years ago
38) A lottery ticket states that you will receive $250 every year for the next ten years. a. What is the present value of the wi
Stells [14]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

A lottery ticket states that you will receive $250 every year for the next ten years.

A)  i=0.06      ordinary annuity

PV= FV/(1+i)^n

FV= {A*[(1+i)^n-1]}/i

A= annual payment

FV= {250*[(1.06^10)-1]}/0.06= $3,295.20

PV= 3,295.20/1.06^10=1,840.02

B) i=0.06 annuity due (beginning of the year)

FV= 3,295.20 + [(250*1.06^10)-1]= $3492.91

PV= 3492.91/1.06^10= $1,950.42

C) The interest gets compounded for one more period in an annuity due.

5 0
3 years ago
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