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Tcecarenko [31]
2 years ago
6

Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials invent

ory account is used only for direct materials. (Assume no indirect materials.)
January 1 December 31
Inventories
Raw materials inventory $8,900 $11,300
Work in process inventory 14,600 11,400
Finished goods inventory 9,600 6,400
Activity during current year Materials purchased $126,000
Direct labor 100,800
Factory overhead 44,700
Business
1 answer:
gayaneshka [121]2 years ago
6 0

Answer:

Direct material used=  $123,600

Explanation:

Giving the following information:

January 1 December 31

Inventories

Raw materials inventory $8,900 $11,300

Materials purchased $126,000

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

Direct material used= beginning inventory + purchases - ending inventory

Direct material used=  8.900 + 126,000 - 11,300

Direct material used=  $123,600

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I need help with this question Ill mark brainliest
Dovator [93]
Gross monthly income:$1,125
Monthly Federal income tax (11.6%): $130.50
Monthly Social security (FICA) (6.2%): $69.75
Monthly Medicare (1.45%): $16.3125
Monthly State Tax (4%): $45
Monthly Local Tax (0.1%): $1.125
Total Monthly deductions $262.6875
Trey’s NMI $862.3125
Explanation:
Calculation for What is his monthly taxes
First step is to calculate the Gross monthly income
Using this formula
Gross monthly income=Annual salary/Numbers of months in a year
Let plug in the formula
Gross monthly income=$13,500/12 months
Gross monthly income=$1,125
Therefore the Gross monthly income is :$1,125
Monthly Federal income tax (11.6%): $130.50
($1,125*11.6%)
Monthly Social security (FICA) (6.2%): $69.75
($1,125*6.2%)
Monthly Medicare (1.45%): $16.3125
($1,125*1.45%)
Monthly State Tax (4%): $45
($1,125*4%)
Monthly Local Tax (0.1%): $1.125
($1,125*0.1%)
Total Monthly deductions $262.6875
($130.50+$69.75+$16.3125+$45+$1.125)
Trey’s NMI $862.3125
Trey’s NMI=Gross monthly income-Total Monthly deductions
Trey’s NMI=$1,125-$262.6875
Trey’s NMI=$862.3125
Therefore his monthly taxes are:
Gross monthly income:$1,125
Monthly Federal income tax (11.6%): $130.50
Monthly Social security (FICA) (6.2%): $69.75
Monthly Medicare (1.45%): $16.3125
Monthly State Tax (4%): $45
Monthly Local Tax (0.1%): $1.125
Total Monthly deductions $262.6875
Trey’s NMI $862.3125
7 0
3 years ago
A bond has a par value of $1,000, a time to maturity of 15 years, and a coupon rate of 7.90% with interest paid annually. If the
Effectus [21]

Answer:

$5.97

Explanation:

In order to determine the capital gain of the bond in a year's time,it is first first of all important to calculate the yield to maturity on the bond which is arrived at by applying the rate formula in excel as follows:

=rate(nper,pmt,-pv,fv)

nper is the number of coupon interest the bond would pay over its entire life of 15 years which is 15

pmt is the annual interest,7.9%*$1000=$79

pv is the current market price of the bond which is $790

fv is the value of $1000

=rate(15,79,-790,1000)=10.79%

Afterwards,the price of the bond in one year' time can then be calculated:

=-pv(rate,nper,pmt,fv)

The variables in the formula are as above except for nper which would reduce by 1 in a year's time

=-pv(10.79%,14,79,1000)

pv=$ 795.97  

Hence the capital gain=price now-price one year ago/price one year ago

price now is $795.97  

price one year ago was $790

Capital gain=$795.97-$790=$5.97

Capital gain %= ($795.97-$790)/$790=0.76%

8 0
2 years ago
In one year, you meet 52 people who are each unemployed for one week and eight people who are each unemployed for the whole year
VARVARA [1.3K]

Long term unemployment is defined as being unemployed for 27 weeks or more. In this example there are a total of 60 people, 52 people who would be categorized as short term unemployment and 8 people who would be categorized as long term unemployment.

In order to calculate the percentage of unemployment in each category you will need to divide the number in each category by the total number.

Short term = 52/60 = 86.7%

Long term - 6/60 = 13.3%

4 0
3 years ago
Read 2 more answers
S&amp;L Financial buys and sells securities that it typically classifies as available-for-sale. On December 27, 2018, S&amp;L pu
nikdorinn [45]

Answer:

2018 loss for 1,500

2019 gain for 4,000

Explanation:

purchase at 715,000

December 31th 713,500

adjusting entry december 31th

loss on investment          1,500 debit

    marketable securities                     1,500 credit

january 3rd, 2019

cash                                717,500 debit

     gain on investemnt                       4,000 credit

     martetable securities                 713,500 credit

to record gain on investment

6 0
3 years ago
How air particle density and air pressure are related
EleoNora [17]

Explanation:

The more gas particles there are within a given area, the greater the air density. Likewise, the greater the air density, the more gas particles there are per unit volume. Therefore, there are more air particles bombarding with a surface. Thus, the air pressure increases as the air density increases and visa versa... I hope this helps you answer your question :)

4 0
3 years ago
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