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german
3 years ago
6

The following information is available for the year ended December 31: Beginning raw materials inventory$12,000 Raw materials pu

rchases 88,000 Ending raw materials inventory 11,400 Manufacturing supplies expense 800 The amount of raw materials used in production for the year is: Multiple Choice $88,600. $76,600. $89,400. $87,400.
Business
1 answer:
posledela3 years ago
3 0

Answer:

Direct material used= $88,600

Explanation:

Giving the following information:

Beginning raw materials inventory$12,000

Raw materials purchase 88,000

Ending raw materials inventory 11,400

<u>To calculate the direct material used in production, we need to use the following formula:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 12,000 + 88,000 - 11,400

Direct material used= $88,600

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A store that offers a wide variety of shoes for men, women, and children would most likely be considered a(n):
Kisachek [45]

Answer:

The correct answer is: Speciality retailer.

Explanation:

Speciality retailers are stores that operate similarly to regular retailers offering products manufactured by different companies but the focus their attention on a specific niche in the market. <em>Clothing, shoes, books, school supplies, </em>and <em>technology retailers</em> are examples of these types of stores.

4 0
3 years ago
Read 2 more answers
The transactions of Spade Company appear below.
torisob [31]

Answer:

Please see the required journals below.

Explanation:

a. Owner's investment in business

Debit Cash $18,750

Credit Common Stock $18,750

b. Purchase of office supplies

Debit Office Supplies $544

Credit Cash $544

c. Purchase of office equipment on credit

Debit Office Equipment $10,369

Credit Accounts Payable $10,369

d. Receipt of fees for services provided to a customer

Debit Cash $2,212

Credit Fees Earned $2,212

e. Payment of office equipment purchased on credit

Debit Accounts Payable $10,369

Credit Cash $10,369

f. Fees for services provided to a customer

Debit Accounts Receivable $3,975

Credit Fees Earned $3,975

g. Payment for monthly rent

Debit Rent Expense $515

Credit Cash $515

h. Collection of partial accounts receivable in (f) above

Debit Cash $1,670

Credit Accounts Receivable $1,670

i. Withdrawal of cash for personal use

Debit Drawings account $1,100

Credit Cash $1,100

5 0
3 years ago
An investor was looking at a sixteen-unit apartment building. Four of the units rented for $600, four for $750, four for $725, a
tankabanditka [31]

Answer:

$1,545,000

Explanation:

The formula to compute the cost of the building equal to

Rate of return = (Rental income - expenses) ÷ (cost of building )

where,

Rate of return = 8%

Rental income equals to

= ($600 × 4 units + $750 ×  4 units + $725 × 4 units + $800 × 4 units) ×  12 months

= $138,000

Total expense

= $1,200 ×  12 month

= $14,400

Now the cost of building would be

8% = ($138,000 - $14,400) ÷ (cost of building )

8% = $123,600

So, the cost of building equal to $1,545,000

6 0
4 years ago
X-Tel budgets sales of $70,000 for April, $120,000 for May, and $80,000 for June. In addition, sales commissions are 10% of sale
ad-work [718]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

X-Tel budgets sales of $70,000 for April, $120,000 for May, and $80,000 for June. In addition, sales commissions are 10% of sales dollars and the company pays a sales manager a salary of $7,000 per month. Sales commissions and salaries are paid in the month incurred.

April:

Sales comission= 0.10*70,000= 7,000

Sales manager salary= 7,000

Total= 14,000

June:

Sales comission= 0.10*120,000= 12,000

Sales manager salary= 7,000

Total= 19,000

July:

Sales comission= 0.10*70,000= 8,000

Sales manager salary= 7,000

Total= 15,000

3 0
3 years ago
The marginal seller is the seller who
trapecia [35]

Answer:

b. would leave the market first if the price were any lower.

Explanation:

In the market, the producer always sells more than the economic cost ( raw materials and labor cost) that he bears during production. The marginal seller means that the seller earns zero economic profit ( producer surplus) i.e. an economic cost equals the selling price. So if the price falls then the marginal seller would leave the market first because he will be indifferent when earns the zero economic profit but when the price falls he would leave the market.

3 0
3 years ago
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