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3 years ago

Which types of postsecondary education are examples of traditional academic education? Check all that apply.

1 answer:

5 0

Associate degree is a 2 year college degree & a Bachelors’s degree. They would be considered a traditional education.

An apprenticeship studies under a master of a trade.

A technical school degree is training in a field specific to what you want to get a job in, like air conditioning repair.

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Nancy would like to double the money in her retirement account in five years. According to the rule of 70, what rate of interest

frutty [35]

Answer:

70/annual percentage

70/5=14

Explanation:

5 0

3 years ago

aw materials purchased on account, $210,000. Raw materials used in production, $190,000 ($178,000 direct materials and $12,000 i

WITCHER [35]

Answer:

raw materials 210,000 debit

account payable 210,000 credit

--to record purchase of raw materials on account--

WIP 178,000 debit

Manufacturing overhead 12,000 debit

Raw materials 190,000 credit

-- to record use of materials during the period--

WIP 90,000 debit

Manufacturing overhead 110,000 debit

Wages payable 200,000 credit

-- to record accrued labor during the period--

Manufacturing overhead 40,000 debit

Accumulated depreciation equipment 40,000 credit

-- to record accrued labor during the period--

Manufacturing overhead 70,000 debit

Account payable 70,000 credit

--to record other overhead cost accrued--

WIP 240,000 debit

Manufacturing Overhead 240,000 credit

--to record applied overhead--

Finished Goods 520,000 debit

WIP 520,000 credit

--to record transferred-out goods for the period--

Accounts receivable 600,000 debit

Sales Revenue 600,000 credit

--to record sales revenue--

COGS 480,000 debit

Finished Goods 480,000 credit

--to record cost of goods sold --

Overhead

Debit Credit

12,000

110,000

40,000

70,000

240,000

232,000 240,000

Balance: 8,000

WIP

Debit Credit

42,000

178,000

90,000

240,000

520,000

550,000 520,000

30,000

Explanation:

For labor and raw materials we will assign the direct cost as part of Work In Process inventory. The indirect part will be post Overhead.

All this actual cost of overhead will be debited. When doing the applied overhead we credited so the difference will tell us the over or underapplied overhead.

Applied overhead calculation:

30,000 machine hours x $8 per hour = $240,000

Then we transfer the finished goods from WIP into finished goods inventory.

The sales price will be 480,000 x (1 + 25% markup) = 600,000

For the T-accounts we will post each value of the WIP and Overhead account. Then add each column and calculate the balance considering the 42,000 beginning inventory

3 0

3 years ago

Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000, a

Nikolay [14]

Complete question:

Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000, and the book value was $1,500,000. The non-controlling interest shares of Float Corp. are not actively traded. What amount of goodwill should be attributed to the non-controlling interest at the date of acquisition?

a. 150,000

b. 250,000

c. 0

d. 120,000

e. 170,000

Answer:

150,000 of goodwill should be attributed to the non-controlling interest at the date of acquisition

Solution:

A non-controlling interest (NCI) is a role in which a owner holds less than 50% of remaining and has little control over decisions. A minority ownership is often known as the minority interest. Non-controlling interests are calculated by their net worth and are not eligible for future right to vote.

Now , Calculate the amount

Cost(PP) - 1,600/0.8 = 2,000

FV - 1,850

GW = 1,850 - 2,000

= 150,000

8 0

3 years ago

Explain how a high inflation in 2022 could negatively impact our economy.

-Dominant- [34]

Answer:

inflation could have value of good gi high and people would. ot be able to have anough to buy them such as eggs and milk. therefor alot of poverty would start to rise. hope thishelps

8 0

1 year ago

If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs for the period, t

Ilya [14]

Answer:

3. ending work in process is less than the amount of the beginning work in process inventory.

Explanation:

As we know that

Manufacturing cost = Cost of Goods Manufactured - Direct Labor - Direct Materials Used + Ending balance of Work-in-Process Inventory - the Opening balance of Work-in-Process Inventory

And, the Manufacturing cost involves both cost i.e direct material and direct material used

If the cost of goods manufactured more than the total manufacturing costs, so automatically ending WIP inventory should be less then the beginning WIP inventory

6 0

3 years ago