Jess wrote Amanda a check for $358.36, and Amanda deposited the check into her checking account. Where was Amanda's signature?

On october 4, 2017, terry corporation had credit sales transactions of $2,500 from merchandising having a cost of $1,900. the en

Arturiano [62]

I believe that this problem has the following choices:

> a debit of $2,500 to Merchandise Inventory.

> a credit of $2,500 to Sales.

> a debit of $1,900 to Merchandise Inventory.

> a credit of $1,900 to Cost of Goods Sold.

The correct answer from the choices is:

<span>> a credit of $2,500 to Sales
</span>

8 0

3 years ago

Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk lamp. This lamp is made fro

12345 [234]

Answer:

Part 1.

Plantwide overhead rate for Laval using direct labor hours as a base. is $1.60 per Direct Labor Hour

Part 2.

Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate is $78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

Fabricating Assembly

Overheads (R) 390000 410000

Department Cost Driver 152000 290000

Overhead Rate 2.57 1.41

Therefore Overhead Rates are :

Fabricating Department $ 2.57 per Machine Hour

Assembly Department $1.41 per Labor Hour

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Direct materials ($270000/21000) 12.86

Direct labor:

Fabricating department(6500/21000×$29) 8.98

Assembly department(15200/21000×$26) 18.82

Overheads:

Fabricating department(152000/21000×$2.57) 18.60

Assembly department (290000/21000×$1.41) 19.47

Total manufacturing cost per unit 78.73

Explanation:

Part 1. Plantwide overhead rate for Laval using direct labor hours as a base.

Overhead Rate = Total Overheads/Total Direct Labor Hours

= $1.60 per Direct Labor Hour

Fabricating Assembly Total

Overheads (R) 390000 410000 800000

Direct Labor Hrs 210000 290000 500000

Overhead Rate 1.60

Part 2. Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate

Direct materials ($270000/21000) 12.86

Direct labor:

Fabricating department(6500/21000×$29) 8.98

Assembly department(15200/21000×$26) 18.82

Overheads:

Fabricating department(210000/21000×$1.60) 16.00

Assembly department (290000/21000×$1.60) 22.10

Total manufacturing cost per unit 78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

8 0

3 years ago

Vincent is tasked with deriving the value for a large, custom home that was constructed nine months ago on a secluded 10-acre lo

Butoxors [25]

Answer: Cost Approach

Explanation:

The best method Vincent should use for valuation is the cost approach.

The cost approach is a method of worth estimation that considers the cost of building an already existing structure: checking the value of the land used for building, the cost of construction and subtracting the devaluation overtime.

5 0

2 years ago

Price Company’s note receivable is receivable from Score Company. Interest of $7,520 was paid by Score to Price during 2015. Any

Minchanka [31]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0

3 years ago

Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $150,000 or $290,000 with equal

lara [203]

Answer:

(A) The price you will be willing to pay for the portfolio is $194,690.

(B) The expected rate of return is 13%.

(C) The price you will be willing to pay for the portfolio is $181,818.

Explanation:

A. If you require a risk premium of 7%, how much will you be willing to pay for the portfolio?

The amount you be willing to pay for the portfolio can be calculated using the following formula:

The price you will be willing to pay for the portfolio = Expected cash flow / (1 + Required rate of return) ................... (1)

Where;

Expected cash flow = ($150,000 * 0.5) + ($290,000 * 0.5) = $220,000

Required rate of return = Risk free rate + Risk premium = 6% + 7% = 13%, or 0.13

Therefore, we have:

The price you will be willing to pay for the portfolio = $220,000 / (1 + 0.13) = $220,000 / 1.13 = $194,690

B. Suppose the portfolio can be purchased for the amount you found in (a). What will the expected rate of return on the portfolio be?

The expected rate of return (E(r)) can be calculated using the following formula:

Amount to be paid for the portfolio * [1 + E(r)] = Expected cash flow

Therefore, we have:

$194,690 * [1 + E(r)] = $220,000

$194,690 + ($194,690 * E(r)) = $220,000

$194,690 * E(r) = $220,000 - $194,690

$194,690 * E(r) = $25,310

E(r) = $25,310 / $194,690 = 0.13, or 13%

Therefore, the expected rate of return is 13%.

C. Now suppose you require a risk premium of 15%. What is the price you will be willing to pay now?

Required rate of return = Risk free rate + Risk premium = 6% + 15% = 21%, or 0.21

Using equation (1) in part A, we have:

The price you will be willing to pay for the portfolio = $220,000 / (1 + 0.21) = $220,000 / (1.21) = $181,818

6 0

2 years ago