1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
topjm [15]
3 years ago
5

he following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending

Raw materials inventory $ 549,000 $ 612,000 The raw materials used in manufacturing during the year totaled $1,028,000. Raw materials purchased during the year amount to:
Business
1 answer:
Serhud [2]3 years ago
4 0

Answer:

Purchases= $1,091,000

Explanation:

Giving the following information:

Beginning Raw materials inventory = $549,000

Ending Raw materials inventory= $612,000

The raw materials used in production= $1,028,000.

<u>To calculate the raw material purchased, we need to use the following formula:</u>

Purchases= production + ending inventory - beginning inventory

Purchases= 1,028,000 + 612,000 - 549,000

Purchases= $1,091,000

You might be interested in
. Dolores used to work as a high school teacher for $40,000 per year but quit in order to start her own catering business. To bu
VladimirAG [237]

Answer:

The correct option is B

Explanation:

In order to compute the profit, the accountant consider the Explicit cost so,

Explicit Cost = Borrowed amount × Interest rate + Ingredients amount

                     = $30,000 ×  3% + $25,000

                     = $259,000

Where Revenue is $60,000

Profit = Revenue - Explicit Cost

        = $60,000 - $259,000

        = $34,100

Economic Profit is computed as:

Economic Profit = Total Profit - Implicit Cost

                          = $34,100 - $40,600

                          = - $6,500

where

Implicit Cost = Salary + Interest

                = $40,000 + ($20,000 × 3%)

                =  $40,000 + $600

                = $40,600

Therefore, Louis says profit is $34,100 and Greg says she lost $6,500

5 0
3 years ago
On July 1 the Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was increased for t
Papessa [141]

Answer:

Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.

Explanation:

Since Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1, we will calculate monthly rent amount by:

24,000/6 = $4,000

Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.

We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.

4 0
3 years ago
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expen
Andrew [12]

Answer: $22,500

Explanation:

First calculate the rate of allocation based on sales to determine how much of Department T's sales should be attributed to Advertising.

The Rate of Allocation based on Sales = Advertising Expense/Total sales

= 50,000/475,000

= 0.105263

= 10.5263%

This 10.5% can then be used to find out how much of Advertising to apportion to Department T based on department sales,

= Department sales * Allocation rate

= 213,750 * 10.5263%

= $22,500

$22,500 should be allocated to Department T.

8 0
3 years ago
Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2019: (Loss amounts should be indica
Anika [276]

Answer:

$8,940

Explanation:

For computing the amount of the gain first we have to need to do the following calculations

a. Net short term gain or loss is shown in the attachment

b. Net long term gain or loss is shown in the attachment

c. Net capital gain arise from these transactions are as follows

= Short term capital gain or loss + Long term capital gain or loss

= -$240 + $9180

= $8,940

d.The whole net capital gain of $8,940 will be taxable at a preferential rate.

7 0
3 years ago
What is used for a placeholder when a code that does not have six characters to keep the 7th character extender in the 7th posit
Vlad [161]

The answer is the letter x. placeholder x is a character used in ICD-10-CM diagnosis code to create a six character code when a code with fewer than six characters require 7th character extension, it is also called the dummy x.

6 0
3 years ago
Other questions:
  • Keyshawn is a player on a professional football team. Because of this, his play every week is scrutinized by fans and media, as
    15·2 answers
  • 8. Which of the following will cause a movement along the supply curve for oil? a. New technology to drill underwater in the Gul
    9·1 answer
  • If your organization performs nonroutine tasks in a complex environment and you wanted to empower the managers closest to the en
    10·1 answer
  • Honeywag common stock is expected to pay $1.85 in dividends next year, and the market price is projected to be $42.50 per share
    9·1 answer
  • Following are financial statement numbers and ratios for CVS Health Corporation for the year ended December 31, 2016. 2016 Total
    8·1 answer
  • The primary purpose of the legal reserve requirement is toa. Prevent banks from hoarding too much vault cash.b. Provide a means
    13·1 answer
  • If oligopolistic firms facing similar cost and demand conditions successfully collude, price and output results in this industry
    5·1 answer
  • WILL GIVE BRAINLIEST TO FIRST CORRECT ANSWER!
    12·2 answers
  • Explain what business you would start today if given the opportunity. Why this business?
    6·1 answer
  • A shopkeeper explains to you that she keeps down the cost of running her business because her husband works in the shop for free
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!