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Effectus [21]
2 years ago
11

Traves Corporation incurred $69,000 of actual Manufacturing Overhead costs during October. During the same period, the Manufactu

ring Overhead applied to Work in Process was $68,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
Business
1 answer:
Andru [333]2 years ago
3 0

Answer:

                                           Dr.            Cr.  

Work in progess                68,000

Manufacturing overhead                68,000

Explanation:

The appliesmanufacturing overhead will be recorded to work in process account by debiting Work in process and crediting manufacturing overhead account. Now it will be added to the value of work in process and ultimately added to the value of finished goods which is Inventory value.

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_____ contracts involve payment to the supplier for direct and indirect actual costs and often include fees.
mojhsa [17]

Cost-reimbursable contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

A cost-reimbursable contract is an agreement between two parties called the contractor and the owner. Here the contractor gets the reimbursement for the cost incurred while carrying out the work as per the contract, and also gets an additional fixed fee from the company or an owner.

Here the final pricing of the contract is determined later based on the underlying deal and the actual costs it took to complete a project given to the contractor.

Hence, cost-reimbursable contracts involve payment for direct and indirect actual costs.

To learn more about cost-reimbursable here:

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7 0
1 year ago
Crane Company provided the following information on selected transactions during 2021: Purchase of land by issuing bonds $950000
Alenkasestr [34]

Answer:

$296,000

Explanation:

Consider cash movement in purchase and sale of capital assets only.

<u>Cash flow from investing activities :</u>

Proceeds from sale of equipment                 $296000

Net Cash Provided by investing activities    $296000

therefore,

The net cash provided by investing activities during 2021 is $296000.

5 0
3 years ago
Diego transfers real estate with an adjusted basis of $648,400 and fair market value of $907,760 to a newly formed corporation i
Monica [59]

Answer:

123,196

Explanation:

Recognized gain

= Liability on transferred real estate - Adjusted basis

= 771,596 - 648,400

= 123,196

Basis = 0

3 0
3 years ago
Assume that the cost of aluminum used by​ soft-drink companies increases. Indicate which of the following statements describing
spayn [35]

Answer:

a. false

b. true

c. true

d. false

Explanation:

a. The first statement is false as the demand for the soft drink do not declines

b. The second statement is true as the quantity demanded decreased

c The third statement is true as the supplied decreased

d. The fouth statement is false as the quantity suppied do not decline

Therefore the option b and C are correct and option A and D are incorrect

5 0
3 years ago
) suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, and excess reserves ar
Inessa05 [86]
Money supply = Currency in circulation + Checkable deposits.=600 + 900 = 1500 Billion

Current deposit ratio = Currency in Circulation/ Checkable deposits. = 600/900 = .667

Excessive reserve ratio = Excess Reserves/Checkable deposits.= 15/900 = .0167

Money multiplier = (1 + C)/(rr + ER + C)= (1 + .667)/ (.0278 + .0167 + .667) = 2.343
4 0
3 years ago
Read 2 more answers
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