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meriva
3 years ago
12

Sweet catering completed the following selected transactions during may 2016.May 1 prepaid rent for 3 months, 2,400, May 5: rece

ived and paid electricity bills 220, may 9: received cash for meals served to customers, $1, 650. May 14: paid cash for kitchen equipment 2,800 May 23: served a banquet on account 2,970. May 31: made the adjusting entry for rent (from May 1) May 31: Accrued salary expense 2,900. May 31: recorded depreciation for may on kitchen equipment 60. If Sweet Catering had recorded transaction using the cash method, how much net income (loss) would they have recorded for the month of may
Business
1 answer:
Yuliya22 [10]3 years ago
5 0

Answer:

-$3,770

Explanation:

The computation of the net income or net loss using the cash method for May month is shown below:

= Received cash for meals served to customers - prepaid rent paid - electricity paid for cash - paid cash for kitchen equipment

= $1,650 - $2,400 - $220 - $2,800

= -$3,770

As the journal entry for prepaid rent is

Prepaid rent A/c Dr $2,400

     To Cash A/c $2,400

(Being the cash is paid in advance)

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manufactures two products: A and B. The company's accounting records revealed the following per-unit costs for direct materials
fenix001 [56]

Answer:

Unitary cost= $351

Explanation:

Giving the following information:

Overhead costs:

Setups= $240,000

General factory= $2,350,000

Machine processing= $120,000

Total overhead= $2,710,000

Total direct labor hours= 10,000 + 10,000= 20,000

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 2,710,000/20,000

Predetermined manufacturing overhead rate= $135.5 per direct labor hour

<u>Now, we can calculate the unitary cost for Product B:</u>

Direct materials $60

Direct labor: 2 hours at $10/hour $20

Unitary cost= 60 + 20 + 2*135.5

Unitary cost= $351

6 0
3 years ago
A high efficiency rating indicates that the sample information is almost as good as perfect information. Group of answer choices
STatiana [176]

Answer:

True

Explanation:

  • The higher is the rating of the sample the more is the efficiency of the sample and its performance is measured by the good sample of information as the perfect information and indicates the effectiveness of the sample.
5 0
3 years ago
There are 6 cities (1-6) in Araxi County. The county must determine where to build fire stations. The county wants to build the
nikdorinn [45]

Answer:

a.

Look at the two attached figures please. The decision variables is the choice to build a fire station in which city.

So there are six decision variables each taking a value of either 0 or 1.

D1 = decision to build fire station in city 1, (1 denotes yes and 0 denotes no)

D2 = decision to build fire station in city 2, (1 denotes yes and 0 denotes no)

D3 = decision to build fire station in city 3, (1 denotes yes and 0 denotes no)

D4 = decision to build fire station in city 4, (1 denotes yes and 0 denotes no)

D5 = decision to build fire station in city 5, (1 denotes yes and 0 denotes no)

D6 = decision to build fire station in city 6, (1 denotes yes and 0 denotes no)

b.

Please look at attachment

C .

The figure 1 denotes the problem formulation in excel and shows all the formulas.

In first step, a matrix is prepared to denote all cities which are within 15 minutes by 1 and others by zero

A array of decision variables for selecting the city is shown. A 1 in cell implies that city is selected and 0 means the city is not selected.

A product of the selection variable and the value in the within 15 minutes matrix is calculated as shown by the formula.

The constraint is to ensure that all cities have at least one fire station mapped within 15 minutes.

d.

The problem is solved in Excel using integer programming and the solution is that City 2 and 4 should be selected for building fire stations and thus total no of fire stations are two with every city within 15 minutes.

Explanation:

3 0
3 years ago
City A, City B, and City C are cooperating to build a community center catering to the three cities. Seats on the 10-member comm
muminat

Answer:

city A = 3 members in the committee

city B = members in the committee

city C = 4 members in the committee

Explanation:

City A: 18,000 people

City B: 21,000 people

<u>City C: 22,000 people</u>

total 61,000 people

A seat in the committee will be assigned for every 6,100 people

city A = 18,000 / 6,100 = 2.95 ⇒ city A will get 2 + 1 = 3 members in the committee

city B = 21,000 / 6,100 = 3.44 ⇒ city B will get 3 + 0 = 3 members in the committee

city C = 22,000 / 6,100 = 3.61 ⇒ city A will get 3 + 1 = 4 members in the committee

2 + 3 + 3 = 8, there were 2 remaining committee members that should be divided using the size of the remainders: 0.95 > 0.61 > 0.44

8 1
4 years ago
In business, the four basic forms of competition are
dalvyx [7]
Perfect competition, monopolistic competition, oligopoly, and monopoly.
7 0
4 years ago
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