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german
2 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:
posledela2 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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Wood Incorporated factored $165,600 of accounts receivable with Engram Factors Inc. on a without recourse basis. Engram assesses
ruslelena [56]

Answer:

The journal entries are shown below:

Explanation:

Cash $149,040

Due from factor $11,592   ($165,600 × 3%)

Loss on sale of receivables $4,968    ($165,600 × 3%)

        To Account receivable    $165,600

(Being the factoring of account receivable is recorded)

Account receivable    $165,600

       To Due from factor $11,592   ($165,600 × 3%)

        To Cash $149,040

       To Gain on sale of receivables $4,968    ($165,600 × 3%)

(Being the factoring of account receivable is recorded)

Only these entries are passed

5 0
3 years ago
Computing cash flows from financing LO P3 Additional short-term borrowings $ 20,000 Purchase of short-term investments 5,000 Cas
White raven [17]

Answer:

Cash flows from Financing Activities $4,000

Explanation:

Computation of cash flows from financing activities

Additional short-term borrowings $20,000

Less Cash dividend paid ($16,000)

Cash flows from Financing Activities $4,000

Therefore the Cash flows from Financing Activities will be $4,000.

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3 years ago
After using market research to identify the target audience for his advertising campaign, jorge will next use this information t
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Answer:

D. Set explicit and measurable objectives for the campaign.

5 0
3 years ago
When the economy took a downturn and jobs were difficult to find, many people blamed immigrants. What would be a good explanatio
ioda

Realistic conflict theory would be a good explanation for rising prejudice in this situation.

<h3>What do you mean by Realistic conflict theory ?</h3>

According to the realistic conflict theory, wherever there are two or more groups vying for the same few resources, there will be conflict, false preconceptions and ideas, and prejudice towards the various groups.

Just the perception of competition will foster hostile emotions and discriminating behavior in one group. For instance, whether or not it is accurate, ethnic group A will feel resentment and hatred if it perceives that members of ethnic group B are a threat to them by "taking employment."

Learn more about realistic conflict theory here

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4 0
1 year ago
Detailed information about the financial statement elements is maintained in records commonly called?
sergij07 [2.7K]

Detailed information about the financial statement elements is maintained in records commonly called "Accounts'

An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.

Three different accounts exist.

  1. Real account: It links assets and obligations; it excludes accounts for specific individuals. They continue every year.
  2. Personal accounts link the accounts of people,
  3. Businesses, and organizations. All accounts for income, spending, losses and profits are related by a nominal account.

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2 years ago
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