Answer and Explanation:
The Journal entry is shown below:-
Work in progress Dr, $24,000
To Manufacturing Overhead $24,000
(Being the overhead assigned is recorded)
For recording this we debited the work in process as it increased the assets and credited the manufacturing overhead for assigning the overhead
Working note
Overhead amount = (Milling Department + Cutting department) × Overhead rate
= (1,800 + 3,000) × $5
= $4,800 × $5
= $24,000
Answer:
$181,300
Explanation:
Net cash flow provided or used by operating activities is the net income plus depreciation since depreciation is not cash expense,plus the decrease in accounts receivable minus the increase in merchandise inventory plus the increase in accounts payable.
cash from operating activities=$149,000+$37,500+$11,900-$23,000+$5,900=$181,300
The cash flow provided by operating activities is $181,300
The increase in accounts payable was added because it represented cash saved by not paying accounts payable
Answer:
L = 0
K = 535.36
Q = 99,577 units
Explanation:
Q = 118L + 186K
Budget line: C = L.PL + K.PK
5,889 = 16L + 11K
This is a linear production function, indicating labor and capital are perfect substitutes. Optimal bundle lies on one of the corner points on isoquant.
From budget line,
When L = 0, K = 5,889/11 = 535.36
Q = 118*0 + 186*535.36 = 0 + 99,576.
96 = 99,577 units
When K = 0, L = 5,889 / 16 = 368.06
Q = 118*368.06 + 11*0 = 45,555.08 + 0 = 45,555 units
So, output is maximized when L = 0 and K = 535.36, since Q = 99,577 units (optimal labor).
Hope this helps!
