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Mars2501 [29]
3 years ago
10

Fairfield Company’s raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials

$ 20,000 Purchases of raw materials 90,000 Raw materials issued Materials requisition 1445 25,000 For Job 101 Materials requisition 1446 35,000 For Job 102 Materials requisition 1447 30,000 Used on multiple jobs 1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period? 2. How much of the raw materials costs would be added to the Manufacturing Overhead account? 3. Compute the ending balance in the Raw Materials Inventory account.
Business
1 answer:
TEA [102]3 years ago
7 0

Answer:

1. $60,000

2. $30,000

3. $20,000

Explanation:

1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period?

The amount to add add to the Work in Process Inventory account during the period is the direct material used calculated as follows:

Direct raw materials used =  Materials requisition 1445 For Job 101 + Materials requisition 1446 For Job 102 = $25,000 + $35,000 = $60,000

2. How much of the raw materials costs would be added to the Manufacturing Overhead account?

Manufacturing overhead refers to all indirect costs that are incurred during the production process. Therefore, the raw materials costs that would be added to the Manufacturing Overhead account is the indirect materials used on multiple jobs.

Therefore, we have:

Amount to add to the Manufacturing Overhead account = Indirect materials used = $30,000

3. Compute the ending balance in the Raw Materials Inventory account.

Ending raw materials balance = Beginning raw materials + Purchases of raw materials - Direct raw materials used - Indirect materials used = $20,000 + $90,000 - $60,00 - $30,000 = $20,000

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Marginal cost is calculated for a particular increase in output by A. multiplying the total cost by the change in output. B. div
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Answer:

B) dividing the change in total cost by the change in output

Explanation:

Marginal cost(MC) is the cost incurred as a result of producing additional units of goods and services. It is calculated by dividing a change in total cost by a change in output.

That is,

Marginal cost(MC)= change in total cost(TC)/ change in output

Total cost(TC): This is the addition of fixed and variable cost in production.

Total cost(TC)= fixed cost (FC)+variable cost (VC)

Fixed cost (FC) are cost that doesn't change during the production process such as buildings, machineries and furniture.

Variable cost (VC) are cost that changes or are used up during production process such as raw materials.

4 0
3 years ago
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A month ago, you bought a one-year bond with a value of $100 that pays a fixed interest rate of 5 percent per year. The interest
My name is Ann [436]

Answer:

less desirable to other investors

Explanation:

<u>Given</u>: Current fixed coupon rate 5%

           Market rate of interest 5%

           New Market Rate of Interest 6%

Value of a bond is inversely related to economy interest rate or the yield to maturity (YTM). Value of a bond is expressed by the following equation:

B_{0}\ = \frac{C}{(1\ +\ YTM)^{1} }  \ +\ \frac{C}{(1\ +\ YTM)^{2} } \ +....+\ \frac{C}{(1\ +\ YTM)^{n} }\ +\ \frac{RV}{(1\ +\ YTM)^{n} }

wherein, C = Coupon rate of interest

         YTM = Market Rate of Interest or interest rate in the economy or investor's expectation

                n= Years to maturity

             RV = Redemption value

In the given case, C = YTM i.e par value bond. When ytm rises to 6%, the value of the bond shall fall making such a bond less attractive since it represents lower coupon payments than investor expectations.

Thus, now the bond would be less desirable to other investors.

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3 years ago
Most small business ventures are in the _____ category of the entrepreneurial strategy matrix.
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ANSWER:

Most small business ventures are in the low innovation/high risk  category of the entrepreneurial strategy matrix.

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3 years ago
When​ Alex's income increased from ​$2,000 to ​$4,000​, he increased his consumption of bagels from 6 to 10 a month and decrease
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Answer:

For Bagels = 1.33

For Donuts = -1.33

Explanation:

Using the midpoint method, Alex's percentage change in income is given by the difference in income divided by the average income:

\%I =\frac{\$4,000-\$2,000}{\frac{\$4,000+\$2,000}{2}}\\\%I=66.67\%

Alex's percentage change in demand for both bagels and donuts is given by the difference in the quantity consumed divided by the average consumption:

\%B =\frac{10-6}{\frac{10+6}{2}}\\\%B=50.00\%\\\%D =\frac{9-15}{\frac{15+9}{2}}\\\%D=-50.00\%

Alex's income elasticity of demand for bagels and donuts, respectively, is:

E_B=\frac{\%I}{\%B}=\frac{66.67\%}{50\%} \\E_B=1.33\\\\E_D=\frac{\%I}{\%D}=\frac{66.67\%}{-50\%} \\E_D=-1.33

His income elasticity of demand for bagels is 1.33, while for Donuts it is  -1.33.

6 0
3 years ago
The federal legislation that replaces nclb, and articulates broad national goals and serves to guide much of federal educational
marin [14]

The federal legislation that replaces NCLB articulates broad national goals, and serves to guide much of federal educational funding is <u>ESSA</u>

<h3>What is ESSA?</h3>

President Lyndon B. Johnson signed the Elementary and Secondary Education Act into law in 1965. (ESEA). Johnson's War on Poverty was renewed in December 2015 as part of the Every Student Succeeds Act, which enjoyed significant bipartisan support (ESSA). Equal access to education and closing opportunity gaps are two issues that ESSA prioritizes above all others since they begin before children enter the K–12 system.

The nation's comprehensive K–12 education laws, which recognize the value of early childhood education (ECE) in ensuring kids are ready for kindergarten and do not fall behind later in life, for the first time incorporate early learning across the law.

This includes the Preschool Development Grant Birth through Five program (PDG B-5)—the first-ever funding source specifically designated for early childhood education—which offers states competitive grants to enhance ECE coordination, quality, and access.

Even though the No Child Left Behind Act of 2001, the predecessor to ESSA, permitted investments in early learning, ESSA significantly increases the importance of early learning in the law by encouraging service coordination among communities, encouraging greater alignment with the early elementary grades, and increasing ECE knowledge and capacity among teachers, leaders, and other staff members who work with young children.

Thus, ESSA is doing a great job and this has increased the literacy rate too.

For more information on ESSA, refer to the given link:

brainly.com/question/15444352

#SPJ4

6 0
1 year ago
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