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3 years ago

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Landon jewelers uses the perpetual inventory system. on april 2, landon sold merchandise with a cost of $3,500 for $8,000 to a c

ustomer on account with terms of 1/15, n/30. the journal entry to record the cost of goods sold would be:

1 answer:

il63 [147K]3 years ago

5 0

<span>the journal entry to record the cost of goods sold would be n = 3500, t = 1/15, n/30</span>

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Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and dire

Anvisha [2.4K]

Answer:

Results are below.

Explanation:

Giving the following information:

Total manufacturing costs, $8,450,000

Manufacturing overhead allocated, $3,750,000 (allocated at a rate of 250% of direct manufacturing labor costs)

Work-in-process inventory on January 1, 2017, $390,000

Cost of finished goods manufactured, $8,020,000

<u>First, we need to calculate the direct material and direct labor:</u>

Direct labor= Manufacturing overhead allocated/2.5

Direct labor= 3,375,000 / 2.5

Direct labor= $1,350,000

Total manufacturing costs= Direct material + direct labor + allocated overhead

8,450,000= Direct material + 1,350,000 + 3,375,000

Direct material= $3,725,000

<u>Finally, the ending work-in-process:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

8,020,000= 390,000 + 8,450,000 - Ending WIP

Ending WIP= $820,000

3 0

3 years ago

Ahrends Corporation makes 70,000 units per year of a part it uses in the products it manufactures. The unit product cost of this

Kazeer [188]

Answer:

$147,000

Explanation:

The computation of the financial advantage (disadvantage) of purchasing the part rather than making it is shown below;

<u>Particulars Make Buy </u>

Direct material $1,246,000 (70,000 × $17.80)

Direct labour $1,330,000 (70,000 × $17.80)

Variable manufacturing

overhead $70,000 (70,000 × $1)

Fixed manufacturing

overhead $623,000 (70,000 × ($17.10 - $8.20))

Purchase cost $3,395,000 (70,000 × $48.50)

Opportunity cost $273,000

Total cost $3,542,000 $3,395,000

So, the Advantage is

= ($3,542,000 - $3,395,000)

= $147,000

7 0

3 years ago

Identify the type of planning used to develop multiple-year plans based on a situational analysis, competitive assessments, and

maria [59]

Answer:

a. Strategic planning

Explanation:

Strategic planning -

It refers to the method of decision making by assigning the resources in order to make the strategy, is referred to as strategic planning.

The method involves the use of various resources and capabilities to make the plan and accomplish the objective.

These planning are made on the basis of years depending on the competitive assessments, situational analysis, and all external factors and evaluating the strategic options.

Hence, from the given question,

The correct answer is a. Strategic planning.

5 0

4 years ago

In a nutritious diet, the foods provide sufficient quantities of essential nutrients, fiber, and energy to maintain health and b

Sedbober [7]

Answer:

b. balance

Explanation:

According to my research on studies conducted by various nutritionists, I can say that based on the information provided within the question this principle of diet planning is called balance. This is the process of choosing different ingredients or foods that give you all the necessary essentials needed to maintain a balanced health and body weight.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0

4 years ago

Increasingly, people are buying more fuel-efficient cars that burn less gasoline per mile. This seves people money

Sliva [168]

As the gas prices increase, the demand for electric and fuel efficient cars has greatly increased. People want to avoid spending more money than needed. With new advancements being made technologically, there is not much of a demand for cars that require excessive gasoline.
These new advancements have created a new era of automobiles which in turn creates job openings and economic growth in the auto industry.
Personally, I would rather purchase an electric car, or a car that is more fuel efficient to save more money in the long run.

7 0

3 years ago