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Nimfa-mama [501]
3 years ago
8

Terra Mesa Manufacturing uses a job order cost system to account for its production of specialty patio furniture. On June 30, th

e company had the following balances in its inventory accounts. Raw Materials: $142,630 Work in Pprocess: $612,320 Finished Goods: $744,350 On June 30, the total of all open job order cost sheets would be A :
Business
1 answer:
devlian [24]3 years ago
3 0

Answer:

$612,230

Explanation:

Since in the question it is mentioned that the company used the job order cost system for production of specialty patio furniture

Also there is various balances mentioned in the question

Now the total of all open job order cost is equivalent to the work in process amount i.e. $612,230 and the same is to be considered

Hence, the total is $612,230

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McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year t
miv72 [106K]

Answer:

Net income for the year = $257,000

Explanation:

Retained earnings for the year= Net income - dividends paid.

Since no dividends were paid, retained earnings for the year = net income for the year. At the end of each accounting period, retained earnings are reported on the balance sheet, and the retained profits for the year are added to the beginning balance of retained earnings, to give a cumulative ending balance of  $2,499,000.

therefore retained earnings for the year = ending retained earnings balance  - beginning retained earnings balance = $2,499,000.-$2,242,000= $257,000.

Net income for the year is  thus =  $257,000 since no dividends were paid.

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4 years ago
How can you determine your net worth?
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Answer:

How much money do you make in 1 year that is your net worth

Explanation:

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3 years ago
If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then the price elasticit
inn [45]
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3 0
4 years ago
Assume that a tire company sells 4 tires to an automobile company for $400, another company sells a compact disc player for $500
gtnhenbr [62]

Answer:

A) $20,000

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

The stereo and the tires wont be included in GDP because they are intermediate goods. It is only the final good, the car, that would be included in GDP

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3 years ago
In our lecture about Strategic fit, we learned that a company's competitive strategy defines the set of customer needs that it s
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Answer:

The approach is correct but it is necessary to complete the competitive advantage, with the addition that to meet the needs of the client, it is necessary to differentiate from the competition and that is what makes an advantage in the market. Example: Shampoo companies for men, being specialized for men's hair care, have a competitive advantage in the market for these products where the target is usually women.

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4 years ago
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