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alexandr1967 [171]
3 years ago
13

g At the beginning of the month, the Forming Department of Martin Manufacturing had 22,000 units in inventory, 30% complete as t

o materials, and 10% complete as to conversion. During the month the department started 84,000 units and transferred 86,000 units to the next manufacturing department. At the end of the month, the department had 20,000 units in inventory, 90% complete as to materials and 60% complete as to conversion. How many units did the Forming Department start and complete in the current month
Business
1 answer:
Liula [17]3 years ago
7 0

Answer:

62,000 units

Explanation:

Calculation to determine how many units did the Forming Department start and complete in the current month

Total units completed and transferred 84,000 units

Less Inventory at the beginning of this month 22,000 units

Units Forming Department started and completed in the current month 62,000 units

(84,000 units-22,000 units)

Therefore The number of units that the Forming Department started and completed in the current month is 62,000 units

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Gray is a 50% partner in Fabco Partnership. Gray's tax basis in Fabco on January 1, year 4, was $5,000. Fabco made no distributi
arsen [322]

Answer:

$21000

Explanation:

To determine Gray’s tax basis  for a 50% interest in the Fabco Partnership, The interest is increased by the partner’s  distributive share of all partnership items of income and decreased by the partner’s distributive share of all loss and  deduction items.

Gray’s beginning basis = $5,000  

Gray’s 50% distributive share of ordinary  income = 50% × $20000 = $10000

Gray’s 50% tax-exempt income= 50% × $8000 = $4,000 and  

portfolio income = 50% × $4000  = $2,000

Therefore, the ending basis of  Gray’s Fabco partnership interest = $5000 + $10000 + $4000 + $2000 = $21000

6 0
3 years ago
What is a CFO and their responsibilities to the company?
Setler [38]

Answer:

In a larger corporation, the CFO's duties shift more toward analysis, oversight, and management.

Explanation:

Accounting and Reporting: The CFO is responsible for keeping accurate financial records and for reporting on a company or organization's financial status.

3 0
3 years ago
Assume Metro Company had a net income of​ $2,100 for the year ending December 2018. Its beginning and ending total assets were​
Sever21 [200]

Answer:

7.92%

Explanation:

The computation of the return on total assets is shown below:

Return on assets = (Net income) ÷ (average of total assets)

where,  

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Average total assets = (Beginning total assets + ending total assets) ÷ 2

= ($33,500 + $19,500) ÷ 2

= $26,500

Now put these values to the above formula  

So, the ratio would equal to

= $2,100 ÷ $26,500

= 7.92%

7 0
4 years ago
Danner Company expects to have a cash balance of $58,050 on January 1, 2017. Relevant monthly budget data for the first 2 months
Alina [70]

Answer:

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Beginning Cash Balance                                     58,050                  35,475

Add: Receipts

Collections from Customers                               109,650                 193,500

Sale of Marketable Securities                              <u>15,480</u>                 <u>       0      </u>

Total Receipts                                                   <u>   125,130    </u>             <u>  193,500</u>

Total Available Cash                                            183,180                  228,975

Less: Disbursements

Direct Materials                                                  64,500                      96,750

Direct Labour                                                      38,700                       58,050

Manufacturing Overhead                                  25,155                        30,315

Selling and Administrative                                 19,350                        25,800

Total Disbursements                                       <u>  147,705       </u>             <u>   210,915</u>

Cash Balance                                                     35,475                        18,060

Financing

Add: Borrowings                                                   0                                  7,740

Less: Repayments                                          <u>       0           </u>                    <u>      0    </u>

Ending Cash Balance                                        35,475                         25,800

The company wants to maintain a minimum monthly cash balance of $25,800 so in February they will have to borrow;

= 25,800 - 18,060

= $7,740

8 0
4 years ago
The CFO of James Jeans Co. has asked you to perform an analysis to assess how the company is performing relative to its two larg
damaskus [11]

The vertical analysis approach that will provide the most effective performance evaluation of James Jeans Co. and its two largest competitors is <u>Option B.</u>

<h3>What is a vertical analysis?</h3>

A vertical analysis is a financial statement analysis with each line item listed as a percentage of the base figure from the financial statement.

For example, the vertical analysis calculates the balance sheet percentage by dividing each asset line item by the total assets.  

<h3>Answer Options:</h3>

A. Review the stock price performance of the three companies over the last several years and the Wall Street Analyst buy/sell recommendations: compare debt ratings: review messages on key business websites and blogs to learn what is being said about the company and competitors.

B. Calculate cost of goods sold, selling and administrative expenses, and net income as a percentage of net sales for James Jeans and the two largest competitors; draw conclusions from these results and highlight similarities and differences.

C. Identify the structure of the sales and marketing team of each company, gather information about customer product reviews, and review product warranty claims to understand the comparative performance.

D. Analyze the size of each company's balance sheet and income statement accounts by calculating how much larger or smaller the competitors are compared to James Jeans Co. summarize observations about what might be the reasons for these size differences.

Thus, the vertical analysis approach that will provide the most effective performance evaluation of James Jeans Co. and its two largest competitors is <u>Option B.</u>

<em>"Calculate the cost of goods sold, selling and administrative expenses, and net income as a percentage of net sales for James Jeans and the two largest competitors; draw conclusions from these results and highlight similarities and differences."</em>

<em />

Learn more about vertical analysis at brainly.com/question/15694796

#SPJ1

8 0
2 years ago
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