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Leni [432]
3 years ago
11

MC Qu. 134 Mustang Corporation has accumulated... Mustang Corporation has accumulated the following accounting data for the mont

h of April: Finished goods inventory, April 1$32,800 Finished goods inventory, April 30 26,800 Total cost of goods manufactured 124,700 The cost of goods sold for the year is:
Business
1 answer:
stiv31 [10]3 years ago
5 0

Answer:

The cost of goods sold for the year is $130,700

Explanation:

Finished goods inventory, April 1$32,800

Finished goods inventory, April 30 26,800

Total cost of goods manufactured 124,700

Use the following formula to calculate the cost of goods sold

Cost of goods sold = Total cost of goods manufactured + Finished goods inventory, April 1 - Finished goods inventory, April 30

Where

Finished goods inventory, April 1 = $32,800

Finished goods inventory, April 30 = $26,800

Total cost of goods manufactured = $124,700

Placing values in the formula

Cost of goods sold = $124,700 + $32,800 - $26,800

Cost of goods sold = $130,700

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The government is trying to maintain the infrastructure of the country, provide Social Security benefits to citizens, and regula
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The government will be able to improve the road system, encouraging more people to drive on vacations. Social Security benefits will provide income for the elderly and disabled, allowing them to spend money, thus boosting the economy. Airline security might be slightly improved because of the ability to hire, but there will not be enough money to provide the latest equipment.

3 0
3 years ago
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Johnson Trucking Company wants to determine a fuel surcharge to add to its customers' bills based on the number of miles driven
BARSIC [14]

Answer:

Variable cost per unit= $1.16 per mile

Explanation:

Giving the following information:

January 16,200 $22,650

February 17000 $23,250

March 18400 $25,450

Apri 16500 $22,875

May 17400 $23,550

June 15300 $21,850

<u>To calculate the variable cost per mile under the high-low method, we need to use the following formula:</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (25,450 - 21,850) / (18,400 - 15,300)

Variable cost per unit= $1.16 per mile

7 0
3 years ago
What do you mean by parent and host company?​
Anna11 [10]

Answer:

What is meant by parent company?

A parent company is a single company that has a controlling interest in another company or companies. Parent companies are formed when they spin-off or carve out subsidiaries, or through an acquisition or merger.

Explanation:

What Is a Parent Company?

A parent company is a company that has a controlling interest in another company, giving it control of its operations

8 0
2 years ago
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In February, X City ordered $550,000 of supplies. On March 17th it received all of the ordered supplies and an invoice of $551,0
Neporo4naja [7]

Answer:

B. Debit Budgetary Fund Balance -- Reserve for Encumbrances for $550,000.

Explanation:

X City made an order for goods worth $550,000 and when the goods were received the invoice states $551,000. The company should indicate in the invoice the correct amount received and work with that.

Reserve for encumbrances is an account that contains funds that have been reserved for a particular purpose. In this case since the order was made in February, the funds of $550,000 would have been put in this account.

On receipt of the goods we debit Budgetary Fund Balance -- Reserve for Encumbrances for $550,000 (the correct value of goods received).

4 0
3 years ago
Jan. 1Purchased a small company and recorded goodwill of $177,000. Its useful life is indefinite. May 1Purchased for $144,000 a
stich3 [128]

Answer:

The Journal entries are as follows:

(i) On December 31,

No entry

(ii) On December 31,

Amortization expense A/c Dr. $16,000

           To Patents A/c                            $16,000

(To record the amortization expenses)

Workings:

Amortization expense:

= (Purchasing cost of patent ÷ Estimated useful life) × Time period

= ($144,000 ÷ 6) × (8/12)

= $24,000 × (8/12)

= $16,000

3 0
3 years ago
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