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3 years ago

XYZ produces a single product and has provided the following data for its most recent month of operations:

Business

1 answer:

Blababa [14]3 years ago

8 0

Answer: $197

Explanation:

With absorption costing, the fixed manufacturing costs are absorbed by the products which means that the product cost will include fixed costs related to manufacturing.

The absorption costing unit product cost is therefore:

= Direct materials + Direct Labor + Variable manufacturing overhead + Fixed manufacturing Overhead per unit

Fixed manufacturing overhead per unit is:

= 224,000 / 6,400 units

= $35 per unit

Absorption cost unit product cost = 72 + 80 + 10 + 35

= $197

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Why is doing timely reconciliations a key part of internal control activities? It ensures that

kati45 [8]

Answer:

It ensures that the Effective internal control reduces the risk of asset loss, and helps ensure that plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the provisions of applicable laws and regulations. ... Why internal control is important to your plan.

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3 years ago

You are consulting for a natural food products distributor who is interested in determining the benefits it could achieve from i

antiseptic1488 [7]

The first advised will be to carry our a survey that will show peoples opinion.

<h3>What is the importance of consulting?</h3>

Consultancy involves asking important question and guidelines form an expert.

It is done in achieving success in a particular project or Job.

The first step will be to run a survey on the adoption of the new technology.

Therefore, The first advised will be to carry our a survey that will show peoples opinion.

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2 years ago

QS 11-9 Recording warranty repairs LO P4 On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty

prisoha [69]

Answer:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Explanation:

On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts

Recording of revenue:

Cash $490 (debit)

Revenue $490 (credit)

We Recognise Revenue to depict transfer of control of mower

Recording of Warranty granted :

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00 (credit)

$490 × 10% = $49.00

There is no option for customer to take the warranty or not, so this is a service warranty.The warranty is measured at the best estimate of expenditure required to settle the obligation that is at 10% of sales.

On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory

When warranty is subsequently received:

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Utilise the Warranty Provision when the warranty claim is subsequently received

7 0

3 years ago

Harbert, Inc. had a beginning balance of $12,000 in its Accounts Receivable account. The ending balance of Accounts Receivable w

irakobra [83]

Answer:

a. $70,500

b. $7,500

c. $9,000

Explanation:

a. The computation of the amount of revenue is shown below:-

Amount of revenue = Ending balance of accounts receivable + Cash collected - Beginning balance of accounts receivable

= $10,500 + $72,000 - $12,000

= $70,500

b. The computation of net income earned during the accounting period is shown below:-

Net income = Revenue generated - Expenses

= $70,500 - $63,000

= $7,500

c. The computation of amount of cash flow from operating activities is shown below:-

Net cash flow from operating activities = Cash collection - Amount paid for operating expenses

= $72,000 - $63,000

= $9,000

4 0

3 years ago

Dave bought a new car 8 years ago for $8400. To buy a new car comparably equipped now would cost $12,500. Assuming a steady rate

umka2103 [35]

The yearly rate of inflation in car prices over the 8 years that Dave bought his new car for $8,400 is 5.1%.

<h3>What is inflation?</h3>

Inflation is the general increase in prices of goods and services in an economy which reduces the purchasing power of the consumers.

Based on the given information, the yearly increase in the inflation rate can be computed using the present value formula from an online finance calculator as below.

<h3>Data and Calculations:</h3>

N (# of periods) = 8 years

I/Y (Interest per year) = 5.1%

PMT (Periodic Payment) = $0

FV (Future Value) = $12,500

Results:

PV = 8,396.31 or $8,400

Total Interest $4,477.49

Thus, the yearly rate of inflation in car prices over the 8 years that Dave bought his new car for $8,400 is 5.1%.

Learn more about inflation at brainly.com/question/8149429

6 0

2 years ago