A stock is a written promise to repay borrowed money at a later date; to raise money.

During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. The total direct

alex41 [277]

Answer: Please see answers in explanation column

Explanation:

a)Total Labor Cost for Job 200 = Labor Hours x Direct labor rate

= 2,500 x $ 28

= $ 70,000

b)Total Labor Cost for Job 305 = Labor Hours x Direct labor rate

= 3,000 x $ 24

= $ 72,000

Labor Cost for Job 200 and Job 305 during May = $ 70,000 + $ 72,000

= $ 142,000

Date Account Titles and Explanation Debit Credit

May 31st Work In Progress $142,000

Wages Payable $ 142,000

6 0

3 years ago

Predetermined Overhead Rate, Applied Overhead, Unit Cost Ripley, Inc., costs products using a normal costing system. The followi

jok3333 [9.3K]

Answer:

1. $28

2. $278,040

3. $7,560 under-applied

4. $8.8536

Explanation:

The computation is shown below

1. Predetermined overhead rate = (Total Budgeted: Overhead) ÷ (estimated direct labor-hours)

= $285,600 ÷ 10,200 hours

= $28

2. The applied overhead would be

= Actual direct labor-hours × predetermined overhead rate

= 9,930 hours × $28

= $278,040

3. The over applied or under applied would be

= Actual manufacturing overhead - applied overhead

= $285,600 - $278,040

= $7,560 under-applied

4. Total cost per unit would be

= (Prime Cost + Applied Overhead) ÷ (Number of units)

= ($1,050,000 + $278,040) ÷ (150,000 units

= $1,328,040 ÷ 150,000 units

= $8.8536

7 0

3 years ago

The total amount of debt owed by the Federal government is represented by the total value of the outstanding:

Angelina_Jolie [31]

Answer:

U.S. government securities

Explanation:

Governments use different methods to regulate money flow within the economy and also to borrow money for running it's activities.

One of such methods is the sale of government securities.

They are issued to buyers to obtain funds for government use. The government now makes a commitment to pay the owed amount at a future date.

They include: treasury bills, treasury notes, treasury bonds, and treasury certificates.

Government securities represents the total amount of debt owed by the Federal government

6 0

3 years ago

Managerial accounting information Question 48 options: A) pertains to the entity as a whole and is highly aggregated. B) is cons

KengaRu [80]

Answer:

The correct answer is letter "D": pertains to sub-units of the entity and may be very detailed.

Explanation:

Managerial Accounting is<em> internally-based accounting</em> that helps managers measure the results of their decisions. This is in contrast to financial accounting which emphasizes more general, higher-level financial results. One common managerial accounting tool is determining the <em>profit margin in each of the company's products</em>. This information helps managers set product prices and ensure that they are making appropriate profit margins.

7 0

3 years ago

Verma, Inc. sells office furniture. In 2021, it sold 200 desks for $500 each. For each desk sold, Verma distributed a 50% discou

Effectus [21]

Answer:

$12

Explanation:

The standalone price is the price at which the seller (Verma) would sell its products or services (discount coupon) separately to other customers.

to determine the standalone price of the discount coupon we must multiply the change in discount by the expected use of the coupons:

change in discount = $150 x (50% - 10%) = $150 x 40% = $60
expected use = 20%

= $60 x 20% = $12

3 0

3 years ago