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3 years ago

What accounts are affected. issued check $644 to pay for an advertisement

Business

1 answer:

mixas84 [53]3 years ago

8 0

Answer:

Bank and Advertisement accounts

Explanation:

Journal entries

Advertisement A/c Dr $644

To Bank A/c $644

(Being advertisement expenses made by cheque)

Bank and Advertisement accounts are affected

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PA12. LO 5.4Complete this production cost report:

Lubov Fominskaja [6]

Using weighted average method

Statement of equivalent units

Material Conversion

Units Units

Units transferred out 70,000 70,000

Add: Closing work-in-progress 25,000 6,250

Average divisor  95,000  76,250

Computation of cost per unit

Material Conversion

$ $

Cost of beginning work-in-progress 3,500 16,000

Cost added 25,000 45,000

Total cost  28,500  61,000

Material cost per unit = $28,500

95,000 units

= $0.30 per unit

Conversion cost per unit = $61,000

76,250 units

= $0.80 per unit

Value of units transferred out

Material = 70,000 x $0.30 = $21,000

Conversion = 70,000 x $0.80 = $56,000

Value of closing work-in-progress

Material = 25,000 x $0.30 = $7,500

Conversion = 6,250 x $0.80 = $5,000

Explanation:

In this case, we will obtain the average divisor by adding the ending work-in-progress to the units transferred out. Then, we will determine the total cost of material and conversion ,which is the aggregate of cost of opening work-in -progress and cost added during the year. We also need to obtain the unit cost of material and conversion, which is total cost of material and conversion divided by the average divisor.

Finally, we will value the units transferred out and ending work-in-progress at unit cost of material and conversion.

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3 years ago

An all-equity firm reports a net profit margin of 10% on sales of $3 million. if the tax rate is 40%, what is the pretax profit

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3 years ago

The Shady Farm Milk Company can process milk at a fixed rate of 7,200 gallons/hour. The company’s clients request 91,000 gallons

kogti [31]

Answer:

62,200 gallons of milk are still at the queue to be processed by noon

Explanation:

Step 1: Determine quantity of milk processed by noon

Quantity of milk=processing rate per hour×number of hours

where;

processing rate=7,200 gallons/hour

number of hours=8 am-noon, 12-8=4 hours

replacing;

Quantity of milk=(7,200×4)=28,800 gallons

The quantity of milk processed by noon=28,800 gallons

Step 2: Determine total quantity of order

Total quantity=91,000

Step 3: Determine remaining quantity to be processed at noon

Remaining quantity=total quantity-quantity already processed by noon

where;

total quantity=91,000

quantity already processed by noon=28,800

replacing;

Remaining quantity=(91,000-28,800)=62,200 gallons

62,200 gallons of milk are still at the queue to be processed by noon

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Answer:

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Currently, the demand equation for baseball bats is Q = 300 - 5P. The current price is $15 per bat. Is this the best price to ch

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