Which of the following is NOT true about the Free Application for Federal Student Aid (FAFSA)?

On March 1, the Mixing Department had 550 rolls of paper in process. During March, the Mixing Department completed the mixing pr

inn [45]

For the Mixing Department, the following journal entries are prepared.

Journal Entries:

1. Debit Work in Process $13,095

Credit Direct materials $5,720

Credit Direct labor $4,125

Credit Manufacturing overhead $3,250

To record costs of materials, labor, and manufacturing overhead allocated.

2. Debit Transfer out $13,630

Credit Work in Process $13,630

To record the cost of units completed and transferred out.

Data and Calculations:

Direct Direct Mfg o/h Total

Materials Labor Allocated Costs

Beginning inventory $280 $365 $180 $825

Costs added in March 5,720 4,125 3,250 13,095

Total costs $6,000 $4,490 $3,430 $13,920

Physical Direct Conversion

Units Materials Costs

Units to account for:

Beginning Work in process 550

Started in March 4,650

Total units to account 5,200

Completed & transferred 4,700

Ending work in process 500

Units accounted for:

Ending work in process 500 100 (20%) 100 (20%)

Completed & transferred 4,700 4,700 (100%) 4,700 (100%)

Total equivalent units 4,800 4,800

Direct Conversion Total

Materials Costs Costs

Costs to account for:

Beginning inventory $280 $545 $825

Costs added in March 5,720 7,375 13,095

Total costs $6,000 $7,920 $13,920

Total equivalent units 4,800 4,800

Cost per equivalent unit $1.25 $1.65

($6,000/4,800) ($7,920/4,800)

Costs accounted for:

Completed & transferred $5,875 $7,755 $13,630

(4,700 x $1.25) (4,700 x $1.65)

Ending inventory $125 $165 $290

(100 x $1.25) (100 x $1.65)

Total costs accounted $6,000 $7,920 $13,920

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7 0

2 years ago

At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $196,800 and in Allowance for Doubt

olasank [31]

Answer and Explanation:

The journal entries are shown below:

a. Account receivable Dr $864,300

To Sales revenue $864,300

(Being the sales revenue is recorded)

Cash Dr $687,610

To Account receivable $687,610

(Being the collections is recorded)

2. Allowance for doubtful debts $6,804

To Account receivable $6,804

(Being the written off amount is recorded)

3. Account receivable Dr $3,219

To Allowance for doubtful debts $3,219

(Being the previous written off amount is recorded)

Cash Dr $3,219

To Account receivable $3,219

(Being the recovery is recorded)

4. Bad debt expense $18,075

To Allowance for doubtful debts $18,075

(Being the bad debt expense is recorded)

The computation is shown below:

= $24,000 - $9,510 + $6,804 - $3,219

= $18,075

Only these entries are recorded

3 0

3 years ago

Alicia Tax Services paid $690 to settle an account payable. Which of the following general journal entries will Alicia Tax Servi

aleksandr82 [10.1K]

The general journal entries that Alicia Tax Services will make to record this transaction is :Debit Accounts payable, $690; credit Cash, $690.

Based on the information given since Alicia Tax Services paid the amount of $690 to settle an account payable which means that the appropriate journal entry to record the transaction will be:

Debit Accounts payable $690

Credit Cash $690

(To record account payable)

Inconclusion the general journal entries that Alicia Tax Services will make to record this transaction is :Debit Accounts payable, $690; credit Cash, $690.

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4 0

2 years ago

The manufacturing overhead budget at Amrein Corporation is based on budgeted direct labor-hours. The direct labor budget indicat

Sergeeva-Olga [200]

Answer:

$51,790

Explanation:

Amrein Corporation Manufacturing Overhead Budget

August

Budgeted direct labor-hours 2,500

Variable manufacturing overhead rate $5

Variable manufacturing overhead $12,500

($2,500×$5)

Fixed manufacturing overhead $43,010

Total manufacturing overhead $55,510

($43,010+$12,500)

Less depreciation 3,750

Cash disbursement for manufacturing overhead $51,790

Therefore the August cash disbursements for manufacturing overhead on the manufacturing overhead budget should be $51,790

5 0

3 years ago

Read 2 more answers

Your organization entered into an interoperability agreement (IA) with another organization a year ago. As a part of this agreem

Nata [24]

Answer:

1)Verify compliance with the IA documents

2) Conduct periodic vulnerability assessments

Explanation:

From the question we are given about instance, whereby Your organization entered into an interoperability agreement (IA) with another organization a year ago. As a part of this agreement, a federated trust was established between your domain and the partner domain. The partnership has been in the ongoing operations phase for almost nine months now. As a security administrator,. In this case, the tasks should you complete during this phase are;

1)Verify compliance with the IA documents

2) Conduct periodic vulnerability

An organisational interoperability agreement can be regarded as a resource which can be attributed to a private nature which give the structure of governance rules so that there will be a working relationship among

digital public services to have a functioning value.

7 0

3 years ago