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Studentka2010 [4]
3 years ago
11

Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicat

e that direct materials, direct labor, and applied factory overhead for Department 2 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 3 were $50,000, $60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 3 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 3 during the period for direct materials is:_________.
A. Work in Process--Department 3 100,000
Materials 100,000
B. Work in Process--Department 3 125,000
Materials 125,000
C. Work in Process--Department 3 50,000
Materials 50,000
D. Work in Process--Department 3 70,000
Materials 70,000
Business
1 answer:
ELEN [110]3 years ago
3 0

Answer:

C.

Work In Process $50,000 (debit)

Raw Materials $50,000 (credit)

Explanation:

<u>Department Costs</u>

Dep 2 : $100,000 + $125,000 + $150,000 = $375,000

Dep 3 : $375,000 + $50,000 + $60,000 + $70,000 + $75,000 - $60,000 =  $570,000

<u>Direct Materials Flow Entry :</u>

<em>Work In Process $50,000 (debit)</em>

<em>Raw Materials $50,000 (credit)</em>

Flows in department 3 must include, $375,000 costs from department 2, direct materials : $50,000 , direct labor:  $60,000, and applied factory overhead; $70,000 for Department 3.

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The right to sell a good or service within an exclusive market is a _____.
dem82 [27]

Answer:

franchise

Explanation:

The right to sell a good or service within an exclusive market is a _____.

 

franchise

 

market power

 

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patent

3 0
2 years ago
In product development, what are "specifications"?
mario62 [17]

Answer:

the answer is A. Statements of what the product will be like

Explanation:

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5 0
2 years ago
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Determine the annual financing cost of a 6-month (182-day) 20,000 discounted bank loan at a stated annual interest rate of 10 pe
ratelena [41]

Answer:

10.52%

Explanation:

The computation of the annual financing cost is shown below:

First we have to calculate the interest cost that is shown below:

= $20,000 × 10% × 182 days ÷ 365 days

= $997.26

Now the used funds is

= $20,000 - $997.26

= $19,003

Now the annual financing cost is

= ($997 ÷ $19,003) × (365 days ÷ 182 days)

= 10.52%

We assume there are 365 days in a year

3 0
3 years ago
Tiggie’s Dog Toys, Inc. reported a debt-to-equity ratio of 1.75 times at the end of 2018. If the firm’s total assets at year-end
il63 [147K]

Answer:

Total debt is $15.91million

Total equity is 9.09miliion

Explanation:

Debt-to-equity ratio relates to how a firm is financing its operations through debt versus shareholders' equity(owners' fund)

The formula is: Total debt/total equity

Debt-to-equity ratio = 1.75times

Total assets =$25 million

We know the Equity = Asset - liability(debt)

We can rewrite the equation as:

Debt-to-equity ratio = Total debt/asset - debt

Let's represent debt as 'y'

1.75 = y/$25million - y

y = 1.75($25million - y)

y = $43.75 - 1.75y

Collect the like terms

y + 1.75y = $43.75million

2.75y = $43.75million

y = $43.75million/2.75

y = $15.91million

Therefore, total debt is $15.91million

Using the same formula: Total debt/total equity

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z = 15.91million/1.75

z = 9.09miliion

Therefore total equity is 9.09miliion

6 0
3 years ago
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Timothy was tasked with creating the budget for the next fiscal year. He had to create a cost-profit analysis report of all the
Helga [31]

Obviously, Mr Timothy’s position within the company is Chief Financial officer

Chief Financial officer is the officer responsible for management of company's finances and top-level budgets.

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