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Veseljchak [2.6K]
3 years ago
12

current assets and current liabilities were $100 million and $40 million, respectively. The prior year, 2018, Jones and Co. repo

rted current assets and current liabilities of $80 million and $30 million, respectively. What is Jones and Co.'s Working Capital for 2019
Business
1 answer:
Murrr4er [49]3 years ago
5 0

Answer:

$60 million

Explanation:

Working capital is the amount of resources at the disposal of a firm in order to run its day-to-day activities.

Working capital is determined by deducting total current liabilities from total current assets

Jones and Co.'s working capital for the year 2019 is the difference between the current assets for 2019 and the current liabilities for the same year

current assets is $100 million

current liabilities is $40 million

working capital=$100 million-$40 million=$60 million

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Sara’s Salsa Company produces its condiments in two types: Extra Fine for restaurant customers and Family Style for home use. Sa
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Answer:

1.$4.29 per cases

2. Extra Fine $14.29

Family Style $13.29

3a. Extra Fine $4.71

Family Style $0.29

3b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may may inturn make make the company to stop the production of the product in a situation where either the cost are not reduced or where the price.

Explanation:

1. Computation for the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa using Plantwide overhead rate

Using this formula

Overhead cost=Total overhead cost/Total volume

Let plug in the formula

First step is to calculate the Total overhead cost

Total overhead cost = $130,800 + $349,000 +$206,000

Total overhead cost =$685,800

Second step is to calculate the Total volume

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Now let calculate the Overhead cost

Overhead cost=$685,800/160,000 cases

Overhead cost=$4.29 per cases (rounded)

Therefore since we are making use of plantwide rate which means that same overhead cost of the amount of $4.29 per cases will be assigned to each of the two case .

2. Calculation to determine the total cost per case for the two products

Extra Fine Family Style

Direct materials + Direct Labor $ 10.00 $ 9.00

Add Overhead $4.29 $4.29

Manufacturing cost per case $ 14.29 $ 13.39

Therefore the the total cost per case for the two products will be:

Extra Fine $14.29

Family Style $13.29

3-A Calculation to determine the gross profit per case for each product.

Extra Fine Family Style

Selling price per case $ 19.00 $ 13.00

Less Manufacturing cost per case $14.29 $13.29

Gross profit (loss) per case $ 4.71. $ (0.29 )

Therefore the gross profit per case for each product will be ;

Extra Fine $4.71

Family Style $0.29

3-b. Based on the above Calculation What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may may inturn make make the company to stop the production of the product in a situation where either the cost are not reduced or where the price.

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Simpson Company applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $180,000 of direct mater
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Answer:

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And, the manufacturing overhead cost is $200,000

So, the total manufacturing overhead is

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= $480,000

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