A manufacturing company hires only welders who have completed a formal

A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.

Svetllana [295]

Answer:

An account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an account is maintained for each financial statement item, whereas a(n) general ledger contains all of the accounts of the company.

4 0

3 years ago

What was this product's net operating income (loss) last year? last year minden company introduced a new product and sold 15,000

mafiozo [28]

Answer:

1. What was the product's operating income(loss) last year = $90,000 loss

2. What is the product's Break even point in unit sales and dollars

• Break even sales in units 18,000

• Break even i n sale dollars $1,260,000

3. Maximum annual profit given an increment of 5,000 units and reduction of sales price per unit by $2.

• Net profit of $20,000

4. What would be the break even point in unit sales and dollars using the selling price that you determined in requirement 3.

• Break even sales units 19,285.7

• Break even in sales dollars $1,311,427.6

Explanation:

Please see attached detailed solution to the above questions and answers.

3 0

3 years ago

Feldpausch Corporation has provided the following data from its activity-based costing system:Activity Cost Pool Total Cost Tota

Alenkinab [10]

Answer:

Product margin= $11.03

Explanation:

First, we need to calculate the activities rates:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Assembly= 1,150,100 / 62,000= $18.55 per machine-hour

Processing orders= 54,554 / 1,860= $29.33 per order

Inspection= 194,310 / 2,550= $76.2 per inspection-hour

Now, we can allocate overhead to Product W26B:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Assembly= 18.55*1,610= $29,865.5

Processing orders= 29.33*65= $1,906.45

Inspection= 76.2*30= 2,286

Total allocated costs= $34,057.95

Unitary allocated overhead= 34,507.95 / 990= $34.86

Finally, the unitary cost and product margin:

Total unitary cost= 34.86 + 52.35 + 17.21= $104.42

Product margin= 115.45 - 104.42

Product margin= $11.03

3 0

3 years ago

The following are examples of struck-by hazards. Which one is an example of a struck-by flying hazard?

andriy [413]

You didn't give the options but examples that I found is tools & equipments

7 0

3 years ago

Read 2 more answers

Exercise 10-30 Cost Variance Investigation (LO 10-4)The director of cost management for Odessa Company uses a statistical contro

OLEGan [10]

Answer:

a. The cutoff value for investigation if the controller’s rule of thumb is to investigate all variances equal to or greater than 6 percent of standard cost is $2,280.

b.The month that will have their direct-labor efficiency variance investigated will be the month of since june variance is 2,400 and hence is above $2,280.

Explanation:

According to the given data, the standard direct-labor cost during each of these months was $38,000, therefore, in order to calculate the cutoff value for investigation, we would have make the following calculation:

Cutoff value for investigation =6% of Standard cost =$38,000 *6% =$2,280

The month that will have their direct-labor efficiency variance investigated will be the month of since june variance is 2,400 and hence is above $2,280.

4 0

3 years ago