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I am Lyosha [343]
3 years ago
8

Faughn Corporation has provided the following data concerning manufacturing overhead for July:

Business
1 answer:
creativ13 [48]3 years ago
6 0

Answer: D. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000

Explanation:

The Manufacturing overhead applied is less than the actual manufacturing overhead incurred by:

= 79,000 - 69,000

= $10,000

Manufacturing overhead is therefore underapplied as the amount applied is too low to cover the amount incurred.

The Cost of Goods sold after closing out is:

= Cost of goods sold before closing out + Underapplied manufacturing overhead

= 243,000 + 10,000

= $253,000

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Hill Co. can further process Product O to produce Product P. Product O is currently selling for $60 per pound and costs $42 per
Elina [12.6K]

Answer:

(A) True

Explanation:

Differential cost is the difference between the cost to produce Product O and produce Product P; in this case it’s the additional cost of $13 per pound to produce

So the statement “The differential cost of producing Product P is $13 per pound” is true

4 0
3 years ago
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands):
san4es73 [151]

Answer:

A. 136.2 days

Explanation:

To compute the average days inventory outstanding, first, we have to find out the inventory turnover ratio

Inventory turnover ratio =  Cost of goods sold ÷ average inventory

where,  

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

= ($546,745 + $585,764) ÷ 2

= $566,254

And, the cost of good sold is $1,517,397

Now put these values to the above formula  

So, the answer would be equal to  

= $1,517,397 ÷  $566,254.50

= 2.67 times

Now, Days in inventory  = Total number of days in a year ÷ inventory turnover ratio

= 365 days ÷ 2.67 times

= 136.70 days approx

5 0
3 years ago
Manuel, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Ma
kicyunya [14]

Answer: Effective Managers.

Explanation:

An effective manager is a manager that delivers successfully on tasks that he is in charge of and is very good in decision making. Manuel is well known for his ability to meet his objectives set and accurate decision making.

3 0
3 years ago
Waupaca Company establishes a $400 petty cash fund on September 9. On September 30, the fund shows $122 in cash along with recei
Lemur [1.5K]

Answer and Explanation:

The Journal entry is shown below:-

September 9

Petty cash fund Dr, $400

     To Cash $400

(Being establishment of petty cash fund is recorded)

Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.

September 30

Merchandise Inventory Dr, $51

Postage expense Dr, $73

Cash Short and over Dr, $13

Miscellaneous Dr, $141

      To Petty Cash $278

(Being reimburse of petty cash find is recorded)

Here we debited the merchandise Inventory, postage expense, cash short and over and miscellaneous as it is expenses while we credited the petty cash as is reimbursed.

October 1

Petty cash fund Dr, $60

($460 - $400)

     To Cash $60

(Being increase in petty cash fund is recorded)

Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.

6 0
3 years ago
If someone stole from you ... and you stole it back ... would you technically still be stealing it ? .
dsp73

Answer:

yes that would still be stealing unless you where taking back what they stole from you but if you take a random thing that wasn't yours to begin with that would be stealing

8 0
3 years ago
Read 2 more answers
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