Which business plan section is being described?

Starr Company reports the following information for August. Raw materials purchased on account $ 76,200 Direct materials used in

il63 [147K]

Answer:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

Explanation:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

Recognise the Assets of Raw Materials and a Liability - Account Receivable

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

De-recognise the Raw Materials used in production and recognise the cost in Work In Progress Account

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

Recognise the labor cost in Work In Progress Account and de-recognise the Wages and Salaries Account with the amount applied to production

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

De-recognise the Manufacturing Overheads used in production and recognise the cost in Work In Progress Account

4 0

3 years ago

Elizabeth and Niko are very organized and do an excellent job organizing their personal financial records. How will this BEST he

grandymaker [24]

Answer:

They will get faster responses.

3 0

3 years ago

Economic stability is a benefit of technological advances. Please select the best answer from the choices provided T F.

musickatia [10]

Economic stability is an economy where there is consistent output growth and stable and low inflation growth. Advanced technology is the key to the economic stability of a country and its development.

<h3>What are the advantages of a stable economic condition?</h3>

Economic stability also contributes to the stability of all macroeconomic factors, such as increased production, improved efficiency, and a lower unemployment rate. Through technology and innovation, the overall standard of living of citizens improves as productivity increases, resulting in better goods and services.

Many techniques, such as inflation control, new job opportunities, stabilizing the currency rate, and many more, to maintain the stability of the economy. A stable economy encourages investment, creates consumer confidence, and helps in stimulating business growth and results in the overall economic development of a country.

It is therefore true that technological advances are beneficial for economic stability because they help to improve the living standards of citizens due to stable employment opportunities, resulting in a stable income for individuals.

For more details on economic stability, visit the below link:

brainly.com/question/27187018

5 0

2 years ago

Read 2 more answers

Jennifer is trying to decide what combination of music albums and DVDs to buy. She has $45 to spend. DVDs cost $15. Albums cost

Marizza181 [45]

Answer:

The best consumption bundle is (b)

Explanation:

The best consumption bundle is always the one which satisfies the most. In the above scenario, Jennifer wants to buy both DVDs and albums. The cost of DVD and album is $15 and $ 7.5 respectively. The best combination is to buy 2 DVDs they will cost her 30$, and with the remaining 15$ she can buy two albums. So, the best combination is 2, 2.

3 0

4 years ago

When datacomp corp., a producer of software, delayed the introduction of its new spreadsheet app to modify the package, its sche

yKpoI14uk [10]

In this case, a change in the<u> "product" </u>variable caused changes in the <u>"promotion"</u> variable of the marketing mix.

Marketing mix is tied in with putting the correct item or a mix thereof in the place, at the perfect time, and at the correct cost. The troublesome part is doing this well, as you have to know each part of your marketable strategy.

An product is a thing that is constructed or created to fulfill the necessities of a specific gathering of individuals. The product can be immaterial or unmistakable as it very well may be as administrations or merchandise.

Promotion is an imperative part of marketing as it can help mark acknowledgment and deals.

3 0

3 years ago