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3 years ago

Use the cost information below for Sundar Company to determine the cost of goods manufactured during the current year:

Business

1 answer:

hammer [34]3 years ago

8 0

Answer:

The cost of goods manufactured during the current year was $98,000

Explanation:

The manufacturing costs incurred during the current year = Direct materials cost + Direct labor cost + Factory overhead = $19,000 + $24,500 + $55,100 = $98,600

The cost of goods manufactured during the current year = Beginning work in process inventory + The manufacturing costs incurred during the current year - Ending work in process inventory = $10,700 + $98,600 - $11,300 = $98,000

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If something happens to alter the quantity supplied at any given price, then.

morpeh [17]

Change in quantity supply will lead to a shift in supply curve.

<h3>What is change in supply?</h3>

Change in supply lead to a shift in the supply curve either to the left or right.

This occur in the price to quantity relationship which defines a supply curve.

This change often makes the supply curve becomes steeper and flatter.

Therefore, Change in quantity supply will lead to a shift in supply curve either to right or left.

Learn more on supply curve here,

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2 years ago

"convert to a mixed numeral: 18/5," states one problem on a fifth-grader's arithmetic text. this is a(n) _____ problem. it is be

horsena [70]

For the first blank, the answer would be is a well-defined problem. A well-defined problems have exact goals, noticeably defined solution tracks, and clear predictable solutions.

While for the second blank, the answer would be the application of algorithms. In mathematics, it is a clear-cut description of how to crack a group of problems. Algorithms can do calculation, data processing and automatic reasoning jobs.

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3 years ago

An insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the

cluponka [151]

Answer: adverse selection

Explanation:

From the question, we are told that an

insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the company that he is more likely to make a claim on a policy.

The idea above is called adverse selection. This is a situation whereby either the seller or the buyer believes that he or she has more information than the other person regarding a particular product.

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3 years ago

A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were a

AleksAgata [21]

Answer:

the amount that company should record the land is $97,600

Explanation:

The computation of the amount that company should record the land is shown below:

The Amount should be recorded for land is

= Purchase price + Commission + Property tax paid on behalf of seller + Title insurance

= $82,000 + $8,000 + $5,400 + $2,200

= $97,600

hence, the amount that company should record the land is $97,600

7 0

3 years ago

On January 1, 2021, Pence Airlines issued $400,000 of its 20-year, 8% bonds. The bonds were priced to yield 10%. Interest is pay

finlep [7]

Answer:

1) the price of the bonds can be determined by calculating the PV of the face value and coupon payments:

PV of face value = $1,000 / 1.05⁴⁰ = $142.05

PV of coupon payments = $40 x 17.159 (PV annuity factor, 5%, 40 periods) = $689.36

PV of each bond = $831.41 x 400 = $332,564

January 1, 2021, bonds issued at a discount

Dr Cash 332,564

Dr Discount on bonds payable 67,436

Cr Bonds payable 400,000

2) amortization of bond discount = (332,564 x 5%) - 16,000 = $628.20 ≈ $628

June 30, 2021, first coupon payment

Dr Interest expense 16,628

Cr Cash 16,000

Cr Discount on bonds payable 628

3) amortization of bond discount = (333,192 x 5%) - 16,000 = $659.60 ≈ $660

December 31, 2021, first coupon payment

Dr Interest expense 16,660

Cr Cash 16,000

Cr Discount on bonds payable 660

4) bonds carrying value on December 31, 2021 = $333,852 - $335,000 = $1,148

December 31, 2021, adjusting entry for bonds' fair market value

Dr Unrealized loss on bonds' fair value 1,148

Cr Fair value adjustment 1,148

4 0

3 years ago