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3 years ago

The following account appears in the ledger prior to recognizing the jobs completed in January:

Business

1 answer:

Pie3 years ago

3 0

Answer:

A. Dr Finished Goods $560,240.00

Cr Work In Process $560,240.00

B. $76,760.00

Explanation:

A. Preparation of the journal entry to record the jobs complete

First step is to Calculate the amount of total jobs completed

Job 210 182,500.00

Job 224 232,190.00

Job 216 78,300.00

Job 230 67,250.00

Cost of completed jobs 560,240.00

(182,500.00+232,190.00+78,300.00+67,250.00)

Now let prepare the Journal Entry

Dr Finished Goods $560,240.00

Cr Work In Process $560,240.00

B. Calculation to Determine the cost of the unfinished jobs at January 31.

First step is to calculate the work in process Amount

Balance at January 1 85,800.00

Add Direct Materials 115,000.00

Add Direct Labor 140,000.00

Add Factory Overhead 296,200.00

Balance in work in process 637,000.00

Now let determine the cost of the unfinished jobs at January 31

Balance in work in process 637,000.00

Less: Cost of completed jobs 560,240.00

Cost of unfinished jobs on January 31 76,760.00

Therefore the cost of the unfinished jobs at January 31 will be $76,760.00

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Degger [83]

Answer:

Profit from sale of special order of 4,000 units increase by $14000

Explanation:

given data

order = 4000 units

Sales = $ 190,000

Cost of Goods Sold = 45,000

Gross Margin = $45,000

Sales price per unit = $15

solution

as we know that Elkhorn has excess capacity

so sales of 4000 additional units would not affect current sales of 10,000 units

and by production of excess 4000 units fixed cost would not increase

so Variable cost per unit will be

Variable cost per unit = $\frac{145000 - 30000}{10000}$

Variable cost per unit = $11.5

Profit per unit will be

Profit per unit = Sales price - Variable cost

Profit per unit = $15 - $11.5

Profit per unit = $3.5

Profit from sale of special order of 4,000 units increase as = 4000 × $3.5

Profit from sale of special order of 4,000 units increase by $14000

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3 years ago

Both normal and special cause variation add to project cost and need to be considered by project managers

Paha777 [63]

Answer:

True

Explanation:

Variations in both common and special circumstances contribute to project costs and need to be weighed by project managers when they want to work more often.

Variability, is the degree to which data deviate differ from the estimated value in a probability distribution or data set, and the extent to which those data points differ from one another.
This is most commonly attributed in financial terms to the volatility of the returns on investment.

therefore the answer is true for the following.

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3 years ago

Consider the above table. if the government imposes a price ceiling on garbanzo beans of? $8, what would be the likely? result

viktelen [127]

On the off chance that the government forces a price ceiling on garbanzo beans of $8 it will come about the market equilibrium will be reached.
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4 years ago

Explain how the following event would affect the cost curves A company's primary supplier of resources implements a 3 percent pr

Alenkasestr [34]

Answer:

Marginal cost, average variable cost, and average total cost will increase. Average fixed cost will not change.

Explanation:

Marginal Cost is the change in total cost as a result of producing one extra unit of output.

Variable cost is cost that varies with output level. Average variable cost = variable cost / quantity produced

Fixed cost is cost that doesn't vary with the level of output produced. Average fixed cost = Fixed cost / quantity produced.

Total cost is the sum of fixed and variable cost. average total cost is total cost / quantity produced.

If the price of supplies increase, the cost of production increases and average total cost, average variable cost and marginal cost would increase.

Fixed cost would remain the same.

I hope my answer helps you

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3 years ago

Investment X offers to pay you $7,100 per year for 9 years, whereas Investment Y offers to pay you $9,700 per year for 5 years.

Dmitry_Shevchenko [17]

Answer:

NPV X 44352,90

NPV Y 38729,29

NPV X 28619,86

NPV Y 29008,94

Explanation:

To get the present value of each cash flow we use excel or spreadsheets.

File is attached with the comparison of both investments.

<u>Investment X </u>

Net Present Value (NPV) 44353 (Interest rate 8%)

Net Present Value (NPV) 28620 (Interest rate 20%)

<u>Investment Y </u>

Net Present Value (NPV) 38729 (Interest rate 8%)

Net Present Value (NPV) 29009 (Interest rate 20%)

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3 years ago