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3 years ago

What statement about pawn shops is correct?

1 answer:

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The correct answer for the question that is being presented above is this one: "B. A pawn shop has lower interest rates than banks." The statement about a pawn shop that is correct is this one: B. A pawn shop has lower interest rates than banks.

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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the be

Andre45 [30]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Machine-hours required to support estimated production 155,000

Fixed manufacturing overhead cost $ 653,000

Variable manufacturing overhead cost per machine hour $ 4.70

First, we need to calculate the predetermined overhead rate.

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

Predetermined manufacturing overhead rate= (653,000/155,000) + 4.7

Predetermined manufacturing overhead rate= $8.91 per machine hour

Job 400:

Direct materials $ 390

Direct labor cost $ 220

Machine-hours used 37

To allocate overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 8.91*37= $329.67

Now, we can calculate the total cost and unitary cost:

Total cost= 390 + 220 + 329.67= 939.67

Unitary cost= 939.67/60= $15.66

Finally, the selling price for Job 400:

Selling price0 939.67*1.2= $1,127.6

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3 years ago

Broadway Corporation was granted a patent on a product on January 1, 2007. To protect its patent, the corporation purchased on J

Karolina [17]

Answer

The answer and procedures of the exercise are attached in image.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

4 0

3 years ago

When a firm produces 50,000 units of output, its total cost equals $6.5 million. When it increases its production to 70,000 unit

Komok [63]

Answer:

The marginal cost of an additional unit of output is $145

Explanation:

The computation of marginal cost of an additional unit of output is shown below:

= Change in total cost ÷ change in production level

where,

Change in total cost = Increased cost - previous cost

= $9.4 million - $6.5 million

= $2.9 million

Thus, change in total cost is $2.9 million

And, change in production level = New production level - existing production level

= 70,000 - 50,000

=20,000

Thus, change in production level is 20,000

Now,

Apply the above values in the formula which is equals to

= $2.9 million ÷ 20,000

= $145

Hence, the marginal cost of an additional unit of output is $145

8 0

3 years ago

g Marginal revenue product measures the rev: 06_21_2018 Multiple Choice amount by which the extra production of one more worker

Anton [14]

Answer: The correct answer is the first statement.

Explanation: Marginal revenue product measures the amount by wich the extra production of one more worker increases a firm's total revenue.

It is an economic term used to describe the change in total income that results from a unit change of one type of input variable. There are many types of input variables that you can change, such as adding an employee or a new machine.

5 0

3 years ago

On March 10, 2019, Dearden, Inc., purchased 11,200 shares of Jaffa stock for $47 per share as a long-term passive investment. De

olasank [31]

Answer:

Dearden, Inc.

Journal Entries to record the transactions:

March 10, 2019:

Debit Investment in Jaffa $526,400

Credit Cash $526,400

To record the purchase of 11,200 shares at $47 per share.

December 31, 2019:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $47 to $45 per share.

December 31, 2020:

Debit Investment in Jaffa $33,600

Credit Gain on Investment $33,600

To record the gain on investment from $45 to $48 per share.

December 31, 2021:

Debit Loss on Investment $44,800

Credit Investment in Jaffa $44,800

To record the loss on investment from $48 to $44 per share.

September 12, 2022:

Debit Loss on Investment $22,400

Credit Investment in Jaffa $22,400

To record the loss on investment from $44 to $42 per share.

Debit Cash Account $470,400

Credit Investment in Jaffa $470,400

To record the sale of the investment in Jaffa at $42 per share.

Explanation:

For Dearden, Inc. journal entries are recorded on the acquisition date to record the purchase of the investment in Jaffa. Records are also made every December 31 to record the movements in the share price of the investment. Finally, on the date of disposal, records are also made to record the sale of the investment.

4 0

3 years ago