All categories

4 years ago

In December, Davis Company had the following cost flows:

Business

1 answer:

Brums [2.3K]4 years ago

6 0

Answer and Explanation:

1. The Journal entry is shown below:-

a. Work in process for Grinding department Dr, $129,400

To Work in process for Molding department $129,400

(Being transfer the cost to the grinding department is recorded)

b. Work in process for Finishing department Dr, $232,700

To Work in process for Grinding department $232,700

(Being transfer the cost to the finishing department is recorded)

c. Finished goods Dr, $272,200

To Work in process-Finishing department $272,200

(Being transfer the cost to the finishing goods is recorded)

2. According to the job order costing, all cost is transferred on one time to the finished goods inventory plus there is no carry forward

On the other side, the process costing is the costing in which all the journal entries are interconnected with each type of department

You might be interested in

A company's product sells at $12 per unit and has a $5 per unit variable cost. The company's total fixed costs are $98,000. The

lara31 [8.8K]

Answer:

The contribution margin per unit is $7

Explanation:

The contribution margin per unit can be defined as the difference between the selling price per unit and the variable cost per unit.

Contribution margin per unit = Selling price - Variable cost

Contribution margin per unit = $12 - $5

Contribution margin per unit = $7

The contribution margin per unit is $7

6 0

3 years ago

As marketing vice president of Health Care Services, Inc., you must test the hypothesis that increasing the number of salespeopl

likoan [24]

Answer: A.Select different numbers of sales people as your independent variable and changes in sales of health care servers, as the dependent variable

Explanation:

Here is the complete question:

As marketing vice president of Health Care Services, Inc., you are in charge of developing an experiment to test the hypothesis that increasing the number of salespeople assigned to a territory will increase sales of health care services in the territory. Which experiment will do this best?

A.Select different numbers of sales people as your independent variable and changes in sales of health care servers, as the dependent variable.

B. Select three degrees of service health care (poor, good, average) as your independent variable and measure customer responses for each grade using the same number of sales representatives in each territory as your dependent variable.

C. Create an incentive program for your sales force based upon individual performance. Use increases in customer satisfaction as your independent variable and increases in sales performance as your dependent variable.

D. Create an incentive program for our sales force based upon individual performance. Use increases in customer satisfaction as your dependent variable, and increases in sales performance as your independent variable.

E. Create an incentive program for your sales force based upon team performance. Use increases in customer satisfaction as your independent variable and increases in sales performance as your dependent

variable

From the question, the vice president wants to test the hypothesis that an increase in the number of salespeople that are assigned to a territory will also increase the sales of health care services in the territory.

The interest is on whether changing one of the independent variables leads to a change in the behavior of its dependent variable which is studied. Increase in the number of the salespeople that are assigned to a territory is the causal condition which is the independent variable while the change in sales is the dependent variable. The problem was based upon the number of sales representatives, and not upon the sales performance, therefore options b, c, d, and e are not correct.

6 0

3 years ago

Davis Florist has two employees, Anita and Jerome, and two tasks that need to be completed, floral arrangements and floral deliv

OlgaM077 [116]

Answer:

Davis Florist

a. (Anita, Jerome) __Jerome____ absolute advantage in floral arrangements. __Jerome____ (Anita, Jerome) has an absolute advantage in deliveries.

b. Anita’s opportunity cost of making one floral arrangement is ___0.75__

( 1.33, 0.75, .33, 3) deliveries. Anita’s opportunity cost of making one delivery is __1.33_ (1.33, 0.75, .33, 3) floral arrangements.

c. Jerome’s opportunity cost of making one floral arrangement is ___0.33__(.75,3,1.33..33) deliveries. Jerome’s opportunity cost of making one delivery is 3 (3, 1.33, .75, .33) floral arrangements.

d. (Jerome, Anita)_Jerome____ has a comparative advantage in floral arrangements. (Jerome, Anita)__Anita___ has a comparative advantage in deliveries.

e. Suppose that, initially, both Jerome and Anita spend four hours each day doing floral arrangements and two hours each day doing deliveries. Now suppose they change their tasks, so that each individual does nothing but the task in which she or he has a comparative advantage. How many more floral arrangements and deliveries could they produce each day?

____4_____ additional floral arrangements

____5____ additional deliveries

Explanation:

a) Data and Calculations:

Time it takes Anita to finish one floral arrangement = 30 minutes

Time it takes Anita to make a delivery = 40 minutes

Time it takes Jerome to finish one floral arrangement = 10 minutes

Time it takes Jerome to make a delivery = 30 minutes

b) Absolute Advantage: Jerome will finish 3 floral arrangements (30/10), whereas Anita can only finish 1 in 30 minutes.

c) Anita's opportunity cost is the time it will take her to make a delivery using the same time it takes her to finish one floral arrangement. In 30 minutes time, she can only make (30/40) 0.75 deliveries. Using 40 minutes of making a delivery, she can finish 1.33 (40/30) floral arrangements.

d) Anita's comparative advantage in making deliveries is based on her opportunity cost when compared with Jerome's opportunity cost of making deliveries.

Floral Delivery Total hours

Arrangement

e) Total time spent by

Anita 4 hrs 2 hrs 6 hrs

Jerome 4 hrs 2 hrs 6 hrs

Anita Jerome Total

Number of floral arrangements 8 (240/30) 24 (240/10) 32

Number of deliveries 3 (120/40) 4 (120/30) 7

Anita Jerome

Number of floral arrangements 0 36 (360/10) 36

Number of deliveries 12 (360/30) 0 12

4 0

3 years ago

A dog grooming business is walking through the target market defining process and is now asking questions about its potential cu

siniylev [52]

Answer:

Explanation:

4 0

4 years ago

What is the percentage increase in the net worth of your brokerage account if the price of XTel immediately changes to (a) $44;

gayaneshka [121]

Suppose that Intel currently is selling at $40 per share. You buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 8%.

What is the percentage increase in the net worth of your brokerage account if the price of Intel immediately changes to (a) $44; (b) $40; (c) $36?

Answer:

Initial worth of brokerage account = 500 × $40 = $20,000

a). if the price changes to $44, then:

worth of brokerage account becomes = 500 × $44 = $22,000

∴ percentage increase = (22,000 - 20,000) / 20,000 = 10% increase.

b). if the price changes to $40, then:

worth of brokerage account becomes = 500 × $40 = $20,000

∴ percentage increase = (20,000 - 20,000) / 20,000 = 0 or no increase.

c). if the price changes to $36, then:

worth of brokerage account becomes = 500 × $36 = $18,000

∴ percentage increase = (18,000 - 20,000) / 20,000 = 10% decrease

7 0

3 years ago