1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AysviL [449]
3 years ago
14

The following cost data for the month of May were taken from the records of the Terrence Manufacturing Company: (CIA adapted) De

preciation on factory equipment $ 2,200 Depreciation on sales office 500 Advertising 8,200 Wages of production workers 30,500 Raw materials used 42,000 Sales salaries and commissions 11,200 Factory rent 3,200 Factory insurance 500 Materials handling 2,700 Administrative salaries 3,200 Based upon this information, the manufacturing cost incurred during the month was:
Business
1 answer:
vlada-n [284]3 years ago
5 0

Answer:

Total Manufacturing Cost  $81,100

Explanation:

The computation of the manufacturing cost incurred is shown below:

Wages of Production workers: = $30,500

Raw Material $42,000

Material handling $2,700

Factory rent $3,200

Factory Insurance $500

Depreciation on Factory Equipment $2,200

Total Manufacturing Cost  $81,100

We simply added the above items

You might be interested in
Exercise 5-15B Record notes receivable and interest revenue (LO5-7) On March 1, Company A provides legal services to Company B r
Alex787 [66]

Answer:

March 1: Note acceptance

Debit Note receivable $9,100

Credit Accounts receivable $9,100

<em>(To record note receivable from Company B)</em>

Sept 1: Cash collection

Debit Cash $9,100

Credit Note receivable $9,100

<em>(To record cash collection of note receivable)</em>

Debit Cash $364

Credit Interest receivable $364

<em>(To record cash collection of interest receivable on note)</em>

Explanation:

Note is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest revenue on the note is calculated as: Principal x Interest Rate x Time

The total interest revenue is $9,100 x 8%/12 x 6 months = $364.

Monthly interest revenue is therefore $364 / 6 months = $60.67.

<em>The 6 months is from March 1 to Sept. 1.</em>

On a monthly basis, Company A would accrue for the interest revenue as follows:

Debit Interest receivable $60.67

Credit Interest revenue $60.67

<em>(Interest accrual on notes receivable)</em>

6 0
3 years ago
On January 1, Year 1, Alla Co. sold a property to Mish Co. for $400,000 and simultaneously leased it back for 3 years. The carry
vichka [17]

Answer: $30,000

Explanation:

In accounting, the treatment of the Sale and Operating Leaseback operation is such that a gain is only recognized if the sales price is more than the fair value. In such a case the difference between the fair value and the carrying price is considered the Gain on Sale.

The Difference between the sales price and the fair value is to be amortized over the period of use.

Seeing as the selling price is more than the fair value, the Gain on Sale is therefore,

= Fair Value - Carrying Value

= 310,000 - 280,000

= $30,000

$30,000 is the amount of gain on sale of the property recognized by Alla on January 1, Year 1.

7 0
3 years ago
VF Corporation, maker of North Face and other popular "lifestyle" apparel brands, split itself into two separate organizations i
Triss [41]

The VF Corporation splits itself into two separate organizations in order to rank the performance prospects of the businesses from best to worst and determine what the corporate parent's priorities should be.

<h3 /><h3>VF Corporation</h3>
  • VF Corporation is one of the world's biggest clothing, footwear and embellishments organizations interfacing individuals with the ways of life, exercises, and encounters they esteem most through a group of notable open-air, dynamic, and workwear brands.
  • One of the World's Most Ethical Companies in 2022, and a global leader in defining and raising the norms of ethical business operations.

<h3>Why did VF Corporation decide to split?</h3>
  • They choose to part since they needed to decide the corporate parent's needs for allotting assets to its various organizations by positioning the presentation possibilities of the organizations from best to most horrendously terrible.
  • At the point when an organization, for example, VF divides its portions, the market capitalization when the split happens stays steady, meaning the investor presently claims more offers yet each is esteemed at a lower cost for every offer.
  • Frequently, be that as it may, a lower-valued stock for each offer premise can draw in a more extensive scope of purchasers.

Hence, In order to analyze the performance prospects of the businesses from best to worst and establish what the corporate parent's priority should be, the VF Corporation divides itself into two distinct groups.

To learn more about such Company Ethics refer to:

brainly.com/question/7310733

#SPJ4

4 0
1 year ago
Kate plans to start a winter garment store. The market conditions suggest that the best time to start a winter garment store is
Aleks04 [339]
December because it's between the months of October and February
8 0
3 years ago
While working at a busy law firm, Bruce is using Skype to meet with a client in another state. Although Bruce is trying to conce
Neporo4naja [7]

Answer:

Information overload

Explanation:

Information overload can be described as a type of difficulty experienced by individuals in some situations, it is as a result of too much information present at a particular time, this makes it hard for the individual to carry out the right decision.

As individuals we come across a lot of information daily, but our brains can only process such information one at a time, if we attempt to process more data it may lead to the overstressing of the brain capacity which may eventually cause information overload.

6 0
3 years ago
Other questions:
  • The Bank of america trends in Consumer Mobility Report indicates that in a typical day, 51% of users of mobile phones use their
    5·1 answer
  • You have a loan outstanding. it requires making three annual payments of $1000 each at the end of the next three years. your ban
    11·1 answer
  • Miller and Sons' static budget for 9,800 units of production includes $35,800 for direct materials, $54,600 for direct labor, va
    12·1 answer
  • A test of your ability to learn to be an automobile mechanic would be considered a(n ________ test. aptitude intelligence achiev
    15·1 answer
  • What is market positioning?<br> Read More &gt;&gt;
    13·1 answer
  • Pearson Motors has a target capital structure of 45% debt and 55% common equity, with no preferred stock. The yield to maturity
    10·1 answer
  • Standard costs are used in companies for a variety of reasons. Which of the following is not one of the benefits of using standa
    7·2 answers
  • Which of the following has the largest impact on opportunity cost?
    12·2 answers
  • In the workplace today, more emphasis is being put on mental health. But sometimes, employees don't want to be seen as being una
    8·1 answer
  • Of the types of insurance discussed in this video which are required by law? Select all that apply. Collison O Comprehensive D U
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!