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kirill115 [55]
3 years ago
5

The Widner Company manufactures two products: Stainless Serving Spoons and Stainless Serving Forks. The costs and revenues are a

s follows: Spoons Forks Sales price $150 $88 Variable cost per unit 80 42Total demand for Spoons is 14,000 units and for Forks is 9,000 units. Machine time is a scarce resource. During the year, 54,000 machine hours are available. Spoons requires 5 machine hours per unit, while Forks requires 3 machine hours per unit. How many units of Spoons and Forks should Widner produce? Spoons Forks A. 14,000 0 B. 8,307 4,154 C. 10,800 0 D. 5,400 9,000 Option A Option C Option B Option D
Business
1 answer:
Lady bird [3.3K]3 years ago
4 0

Answer:

Option D. 5,400 9,000

Explanation:

The computation for the number of units produced is shown below:

But before that first determined the following calculations

Particulars             Spoons                  Forks

Selling Price          $150.00               $88.00

Less:

Variable cost per unit    $80.00          $42.00

Contribution margin

per unit                         $70.00            $46.00

Machine hour per unit    5                               3

Contribution margin

per machine hour                $14.00            $15.33

As we can see that the contribution margin per machine hour of the fork is greater so it should be the first utilized

For 9,000 forks, total machine hours is

= 9,000 × 3

= 27,000

Now no of the spoons produced would be

= 27000 ÷ 5

= 5,400

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Cash balance according to company’s records $370,000

2. a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

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Explanation:

1. Preparation of a bank reconciliation

AMERICAN MEDICAL COMPANY

Bank Reconciliation

April 30

Cash balance according to bank statement $388,600

Add: Deposit of April 30, Not recorded by bank $42,500

Add: Bank Error in Charging check as $420 instead of $240 [$420 - $240] $180

Deduct: Outstanding Checks $61,280

Adjusted balance $370,000

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Add: Note and Interest Collected by bank $42,000

Deduct: Error in Recording Check [$7,600 - $760] $6,840

Deduct: Bank Service Charges $145

Adjusted balance $370,000

2. Preparation of Journal entries.

Journal entries

a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co [$7,600 - $760] $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

($6,840+$145)

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