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3 years ago

Trak Corporation incurred the following costs while manufacturing its bicycles.

Business

1 answer:

ddd [48]3 years ago

3 0

Answer:

Trak Corporation

Direct materials:

Bicycle components $100,000

Direct labor:

Labor costs of assembly-line workers $110,000

Manufacturing overhead:

Factory supplies used $13,000

Property taxes on plant 14,000

Depreciation on plant 60,000

Total manufacturing overhead $87,000

Period costs:

Advertising expense $45,000

Property taxes on store 7,500

Delivery expense 21,000

Sales commissions 35,000

Salaries paid to sales clerks 50,000

Total period costs $158,500

Explanation:

a) Data and Calculations:

Bicycle components $100,000

Advertising expense $45,000

Depreciation on plant 60,000

Property taxes on plant 14,000

Property taxes on store 7,500

Delivery expense 21,000

Labor costs of assembly-line workers 110,000

Sales commissions 35,000

Factory supplies used 13,000

Salaries paid to sales clerks 50,000

b) Direct materials refer to materials consumed during the manufacturing process, which are easily identified, measured, and charged to the product.

Direct labor refers to factory workers' time consumed during the production process.

Manufacturing overhead includes all indirect materials, labor, and other costs which cannot be directly traced to a unit of the manufactured product.

Period costs include administrative, selling, and distribution costs incurred during a financial period.

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Identify the differences between the United States experiences during the Great Depression and the financial crisis of 2007-2009

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Answer: The correct options are;

Option C

Option E :

Explanation:

The recent crisis led to more debt to GDP ratio jumped from 69% in 2008 to 79% in 2009. This level is higher than the maximum in the Great Depression and the increase in percentage points over two years is the same as that over six years during the great depression

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3 years ago

Three categories of activities (operating, investing, and financing) generate or use the cash flow in a company. In the followin

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Answer:

a. Yum Co. uses cash to repurchase 10% of its common stock. (Financing activity)

b. DigiInk Printing Co. buys new machinery to ramp up its production capacity. (Investing activity)

c. D and W Co. sells its last season’s inventory to a discount store. (Operating activity)

d. A company records a loss of $70,000 on the sale of its outdated inventory. (Operating activity)

Explanation:

Cash flow statement shows how cash is used and obtained in a business. There are different activities that influence cash flow. Below are the activities:

- Operating activities are those that include normal business operations like buying and selling of inventory, interest payments, and salaries.

- Investing activities involves use of cash for investment like purchase or sale of assets, merger and acquisitions payments, and purchase of equipment.

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3 years ago

The purpose of __________ is to summarize and explain a specific set of data

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The correct answer for the blank is: Descriptive Statistics.

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3 years ago

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are developing strategic plans to address plausible future situations like rise in the prices of cotton and synthetic fabrics by

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Answer:

Scenario planning approach

Explanation:

Scenario planning is a method used by organizations or businesses to make long term projections. It is also used when making strategic plans for the progress of the organization.

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4 years ago

Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missin

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Answer:

Income Statements

2013 2014 2015

Sales revenue $294,170 $360,920 $414,180

Sales returns and allowances 11,200 13,470 20,740

Net sales 282,970 347,350 393,440

Beginning inventory 21,590 33,560 42,010

Purchases 245,240 263,090 298,600

Purchase returns and allowances (5,180) (8,330) (10,440)

Freight-in 8,140 9,480 12,440

Total cost of goods available 269,790 297,800 342,610

Ending inventory 33,560 42,010 47,870

Cost of goods sold 236,230 255,790 294,740

Gross profit on sales 46,740 91,560 98,700

Explanation:

a) Data and Calculations:

2013 2014 2015

Sales revenue $294,170 $ $414,180

Sales returns and allowances 11,200 13,470

Net sales 347,350

Beginning inventory 21,590 33,560

Ending inventory

Purchases 263,090 298,600

Purchase returns and allowances 5,180 8,330 10,440

Freight-in 8,140 9,480 12,440

Cost of goods sold 236,230 294,740

Gross profit on sales 46,740 91,560 98,700

Beginning inventory 21,590 33,560 42,010

Purchases 245,240 263,090 298,600

Purchase returns and allowances (5,180) (8,330) (10,440)

Freight-in 8,140 9,480 12,440

Total cost of goods available 269,790 297,800 342,610

Ending inventory 33,560 42,010 47,870

Cost of goods sold 236,230 255,790 294,740

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3 years ago