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3 years ago

The following information is for MTC Harry Company:

Business

1 answer:

neonofarm [45]3 years ago

3 0

Answer:

Results are below.

Explanation:

First, we need to calculate the total manufacturing costs:

total manufacturing costs= Raw materials used in production as direct materials + Direct labor costs + (Manufacturing overhead (actual) - Under-applied manufacturing overhead)

total manufacturing costs= 95,000 + 100,000 + (250,000 - 25,000)

total manufacturing costs= $420,000

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 130,000 + 420,000 - 145,000

cost of goods manufactured= $405,000

Finally, the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 65,000 + 405,000 - 80,000

COGS= $390,000

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Answer:

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The following table shows the accounts receivable turnover ratio of MCB and ABI:

Particulars MCB ABI

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Average Accounts Receivable $720 $900

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Day's sale outstanding = Accounts receivable / Total credit sales × 365

The following table shows the days sale outstanding of MCB and ABI:

Particulars MCB ABI

Net sales $8,320 $17,400

Average Accounts Receivable $720 $900

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Explanation:

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3 years ago

Lizzie Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Co

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Answer:

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Explanation:

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3 years ago

Masters Corp. issues two bonds with 20-year maturities. Both bonds are callable at $1,050. The first bond is issued at a deep di

I am Lyosha [343]

Answer:

Explanation:

The YTM of the bond at par value is equals to its coupon rate, 8.75%. Other things being equal, this 4% coupon rate bond will be more eye-catching as the coupon rate is lower than the current market yields, and its price is far below the call price. So, if yields drop, capital gains on the bond will not be restricted by the call price.

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3 years ago

Markets are driven by self - interest. A. True C. False

timurjin [86]

C. false is the answer

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3 years ago

Tuliptime, Inc. sold American fashions to a Japanese company at a price of 3.3 million yen. On the sale date, the exchange rate

morpeh [17]

Answer:

B. Credited Gain on fluctuation of foreign currency for $1,170

Explanation:

The journal entry to record the collection of foreign receivables is provided

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(3,900,000 * 0.01)

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