<u>Answer:</u>
<em>Purchased items or extracted materials that will be transformed into components or products are called (</em><u><em>A) Raw materials inventory
</em></u>
<u>Explanation:</u>
Raw materials inventory is the complete expense of all segment parts at present in stock, which is not in use, therefore, a continuous process or completed stock creation. There are two subcategories of crude materials, which are direct materials. These are materials fused into the last item.
Raw materials may at times be announced out of date, perhaps because they are never again utilized in organization items, or because they have debased while away, thus can never still be used
Answer:
696,325 Pounds
Explanation:
The computation of the direct material purchase budget is given below:
Here we assume that
one pound = 16 ounces
Now total wax needed is
= Production of Finished Goods × Pounds of wax needed for production
= 730,000 candles × 11 ÷ 16
= 501,875 pounds
Now
Total direct material purchased = (Total Wax needed + Ending Inventory, Jan.31 - opening inventory) × unit price
= (490,625 Pounds + 12,900 pounds - 17,400 pounds) × $1.40 per pound
= 696,325 Pounds
Answer:
The cash provided by investing activities is $91900
Explanation:
The net cash provided or (used) by investing activities is computed thus:
Sale of land and building $194800
Purchase of land ($44700)
Purchase of equipment ($58200)
Net cash provided by investing activities $91900
The purchase of treasury refers to purchase of own shares from shareholders,hence it is a financing activity
Payment of dividends to shareholders is also a financing activity
Issuance of common stock and retirement of bonds are also financing activity-related,as a result they do not feature in the above computation of cash provided or used by investing activities
The difference between credit card and a debit card is that:
Debit cards are linked to your bank account, and money is withdrawn from the account as soon as the transaction occurs. While credit cards are not linked to your bank account, they are linked to the bank or institution that issued the card. Credit card are billed monthly.
Credit cards are considerably more popular with U.S. consumers because debit cards are linked to your bank account and if someone stole the card, all the money in your bank account will vanish. where credit cards are not linked to your bank account, it is charged monthly as much money as you want.
Answer:
a. The amount refund owed to the customer is : $29,792
b. To record the refund and the return of merchandise:
Dr Sales returned and Allowances $30,400
Cr Sales Discounts $608
Cr Cash $29,792
(to record the refund of $30,400 sales with sales discount of $608 made)
Dr Merchandise Inventory $13,060
Cr Cost of Merchandise sold $13,060
(to record the impact of the $30,400 sales refund on cost of merchandise sold and merchandise inventory)
Explanation:
- Further explanation for sell discounts calculation:
As the terms is 2/10, total discount had been given as calculated below:
$30,400 x 2% = $608.
