Answer:
b. debit to Work in Process of $68,000
Explanation:
The journal entry is as follows:
Work in process A/c Dr $68,000
Factory overhead A/c Dr $6,000
To Raw material A/c $74,000
(Being the requisition from the storeroom is recorded)
Since it is already given that raw material i.e $74,000 requisitioned from the storeroom and the indirect material totaled is $6,000 so the remaining balance transferred to the work in process account i.e $68,000
Answer:
2.75x + 3.25y = 172.50 ... Equation 1
x + y = 60 ... Equation 2
Explanation:
Where x = number of pineapple smoothies and
y = number of mango smoothies
Also given that, cost of pineapple smoothies = $ 2.75
and cost of mango smoothies = $ 3.25
The total sales made by the company is the addition of the sum made from mango smoothies and pineapple smoothies.
Total amount made from pineapple smoothies = cost of pineapple smoothies × number of pineapple smoothies sold
= 2.75 × x
= 2.75x
Total amount made from mango smoothies = cost of mango smoothies × number of mango smoothies sold
= 3.25 × y
= 3.25y
Therefore where total sales = $172.50
2.75x + 3.25y = 172.50
Also, since there were 60 cups used in all. Where a cup is used for a smoothie,
x + y = 60
Therefore the equations representative of the situation are
2.75x + 3.25y = 172.50
and
x + y = 60
Answer:
C) $13,167
Explanation:
Since the sales was made FOB destination, the freight charges were included in the invoice, so the total purchase was $13,300.
Horton uses the net method of accounting for purchase discounts, so it will always record the inventory purchases with the applicable discount whether they received them or not.
$13,300 x 99% = $13,167
Since Horton was unable to pay in time, the $133 discount is recorded as a discount lost (expense account).
Answer:
$ 701,000
Explanation:
Balance At December 31, 2019 = $878,000
$168,000 will be deducted since these are not due to be received until January 2nd as well as $9,000 will also be deducted
$878,000 - $168,000 - $9,000 = $ 701,000
