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3 years ago

Coronado, Inc. uses activity-based costing as the basis for information to set prices for its six lines of seasonal coats.

Business

1 answer:

jolli1 [7]3 years ago

8 0

Answer:

Activity Cost Pools Est. Overhead Est. Use Rate Per

Designing $452,925 $13,500 $33.55 Designer hours

Sizing and cutting $4,250,150 $167,000 $25.45 Machine hours

Stitching & trimming $1,400,525 $75,500 $18.55 Labor hours

Wrapping & packing $339,450 $31,000 $10.95 Finished units

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Gullett Corporation had $30,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona

Bogdan [553]

Answer:

The journal entry to record the purchase raw material would include a debit to raw material of $79000 and credit to Raw materials of $109000..

Explanation:

Since the raw material is coming into the company, we have debit raw material and the opening balance is already there in the books of the business. hence raw materials increases.

7 0

3 years ago

"A customer is long the Swiss Franc at a cost of $.60 per SF. The customer wishes to place a collar on the position using PHLX S

tia_tia [17]

Answer:

To create the collar, the customer would: buy 1 PHLX 59 SF Call and sell 1 PHLX 61 SF Call.

Explanation:

The meaning of a "collar" is that a put is bought at a strike price that is less than the price of the underlying instrument (this implies that a floor has been put on the price of the instrument); and that a call is disposed at a strike price which is higher than the price of the underlying instrument (this indicates that a ceiling above which the instrument will be called away has been created).

When a collar is put on the price, it indicates that the customer is majorly giving a guarantee for the underlying instrument's minimum and maximum price.

This should make the net cost of the collar to be close to zero due to the fact that the two contracts are "out the money" and also because the premium paid to buy the put is offset by the premium received when the call was sold.

Therefore, since customer in the question wishes to place a collar on the position using PHLX SF FLEX options, he would buy 1 PHLX 59 SF Call and sell 1 PHLX 61 SF Call to create the collar.

3 0

4 years ago

Someone help me please?

laila [671]

Answer:

a) Cost of goods Manufactured = $610,000

b) Cost of sales = $ 580,000

c) Net income = $ 140,000

Explanation:

a) Ferruccio Fashion

Schedule of Cost of Goods Manufactured

For the Year Ended 12/31/X2

Particular $ $

Direct Materials:

Raw Materials, 1 January 40,000

Add: Purchase 180,000

Materials available for use 220,000

Less: Raw materials, 31 December 25,000

Materials used 195,000

Direct Labor 200,000

Prime Costs 395,000

Manufacturing Overhead:

Indirect Material 11,000

Indirect Labor 16,000

Plant Utilities 40,000

Depreciation, plant and equipment 60,000

Other 78,000 205,000

Total Manufacturing Costs 600,000

Add: Work-in-progress, 1 January 40,000

Less: Work-in-progress, 31 December (30,000)

Cost of goods manufactured 610,000

b) Ferruccio Fashion

Schedule of Cost of sales

For the Year Ended 12/31/X2

Particular $

Finished goods inventory, 1 January 20,000

Add: Cost of goods manufactured (From a) 610,000

Goods available for sale 630,000

Less: Finished goods inventory, 1 January (50,000)

Cost of sales 580,000

Now, this cost of sales will be used to find gross and net profit.

C) Ferruccio Fashion

Income Statement

For the Year Ended 12/31/X2

Particular $

Sales Revenue 945,000

Less: Cost of sales (From part B) 580,000

Gross Profit 365,000

Less: Selling and administrative expenses 145,000

Income before income tax 220,000

Less: Income tax expense 80,000

Net Income 140,000

8 0

4 years ago

It’s best to use full sentences when taking notes for research. - True ✅False

grigory [225]

Answer:

True

Explanation:

It is true because if you right something that is not the full thing you might not know what the actual answer is (it has happened to me before multiple times)

5 0

2 years ago

Read 2 more answers

Besides the actual mortgage payment, which also factors into the monthly payment on a home?

Maurinko [17]

It is the property taxes that go along with the mortgage monthly payment

So the answer is C: Property taxes

The lender will generally set up an escrow account to cover for the property taxes and pay these items on your behalf when they are due

6 0

3 years ago