Answer:
20,300 pounds
Explanation:
<u>Purchases Budget for February - Pounds</u>
Material required in Production 19,900
Add Opening Materials Inventory (19,900 x 20%) 3,980
Total 23,880
Less Closing Materials Inventory (17,900 x 20%) (3,580)
Budgeted Purchases 20,300
Therefore,
Purchases of raw materials for February would be budgeted to be 20,300 pounds
Answer:
B. $3,373
Explanation:
The computation is given below:
For Held- to -Maturity investment
Face Value of the bond = 100,000
Coupon rate = 6%, for Semi-annual Period should 6% ÷ 2 = 3%
Effective rate = 7% For Semi-annual Period should be 7% ÷ 2 = 3.5%
Now
Purchase Price of the Bond is
= 100,000 - 4000
= 96,000
Now
First interest :
Cash interest = 100,000 × 3% = 3,000
interest Revenue = 96,000 × 3.5% = 3,360
So,
Discount Amortized is
= 3360 - 3,000
= 360
And,
Carrying Value of the Bond should be
= 96,000 + 360
= 96,360
For Second YEar
Interest Revenue = Carrying Value Effective interest Rate
= 96,360 × 3.5%
= 3,372.6
= $3,373
1.) durability
2.) acceptability
3.) scarcity
4.) portability
5.)divisibility
6.)uniformity
choose any three u want! :)
Answer:
The balance of the cash account after these transactions were posted is $45,200
Explanation:
cash balance after these transaction = Cash Investing in Shop - Paid cash for receptionist salary + Receive cash from sale of frame
= $41,900 - $3,100 + $6,400
= $45200
Therefore, The balance of the cash account after these transactions were posted is $45,200
Answer:
Cost of Inventory at June 30 is $1,010
Explanation:
In LIFO the unit purchased at the last will be sold first. The earlier purchases will remain in the inventory. In this inventory system the cost of goods sold is based on the recent prices of the product.
June 1, Beginning Inventory ( 42 x $20 ) $840
June 15, Sales ( 34 x $20 ) ($680)
June 29, Purchases ( 34 x $25 ) $850
Closing Inventory = ( ( 42-34 ) x 20 ) + $850 = $1,010
