Answer:
The preparation is presented below:
Explanation:
The preparation of the retained earnings statement for the year ended July 31, 2018 is presented below:
Cali Communications'
Retained Earning statement
For the year ended July 31, 2018
Beginning balance of retained earning $0
Add: Net income $5,150
Less: Cash Dividend paid -$0
Ending balance of retained earning $5,150
Answer:
The correct answer is letter "E": goal.
Explanation:
Goals represent the objectives companies set to accomplish over a specific period and represent the reason why the firm takes several methodical steps towards achieving that mission. Goals can be <em>quantified </em>and <em>measured </em>to verify inf they are achievable.
Answer:
Stuart Manufacturing Company
Assets = $107,200
Explanation:
a) Data and Calculations:
Cash Account
Common stock $89,000
Furniture (32,000)
Equipment (40,000)
Salaries (12,000)
Wages (21,000)
Raw materials (26,000)
Sales 72,000
Cash balance $30,000
Inventory:
Cost = $26,000
Units produced = 10,000 units
Cost per unit = $2.60 ($26,000/10,000)
Cost of goods sold = 8,000 * $2.60 = $20,800
Ending inventory = 2,000 * $2.60 = $5,200
Sales Revenue = 8,000 * $9 = $72,000
Assets:
Cash $30,000
Ending inventory 5,200
Furniture 32,000
Equipment 40,000
Total $107,200
b) An asset is something that brings in future cash flows to the business entity. It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments. Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.
Answer:
Explanation:
1.
Direct labour hours work during the period:
Product S=72,400 units×1 hour=72,400 hours
Product W=18,100 units × 3 hours=54,300 hours
Total labour hours=126,700 hour
Predetermined overhead rate=$958,396/126,700 =7.56 per hour
2.
Unit product cost of S = Direct Material cost + Direct labour cost + Overhead = 12+16+7.56*1 = $35.56
Unit product cost of W = Direct Material cost + Direct labour cost + Overhead = 34+13+7.56*3 = $69.68
Answer:
Material processing
Explanation:
Materials processing can be said to the series of operations that transforms industrial materials from a raw-material state into finished parts or products.
