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emmasim [6.3K]
3 years ago
12

MC Qu. 93 Job A3B was ordered by a customer on... Job A3B was ordered by a customer on September 25. During the month of Septemb

er, Jaycee Corporation requisitioned $3,000 of direct materials and used $4,500 of direct labor. The job was not finished by the end of the month, but needed an additional $3,500 of direct materials and additional direct labor of $7,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B
Business
1 answer:
Aleks04 [339]3 years ago
6 0

Answer:

$16,500

Explanation:

Note: Work In Process simply mean the cost of Job which is not complete.

Work In Process = Direct Materials + Direct Labor + Overhead Cost

Work In Process = $3,000 + $4,500 + ($4,500*200%)

Work In Process = $3,000 + $4,500 + $9,000

Work In Process = $16,500

So, the balance in the Work in Process account at the end of September relative to Job A3B is $16,500.

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A company has 975 shares of $50 par value preferred stock outstanding. and the call price of its preferred stock is $64 per shar
svetlana [45]

Answer:

book value = $35.64

so correct option is b. $35.64

Explanation:

given data

no of shares =  975 shares

preferred stock outstanding = $50

preferred stock = $64 per share

common stock outstanding = 11,000 shares

total value equity = $440,800

to find out

book value per common share

solution

we get here book value per common share that is express as

book value = ( Total value equity - Preferred Stock Book Value) ÷ Common Stock Outstanding    ...................1

put here value we get

here Preferred Stock Book Value = no of shares × preferred stock outstanding

Preferred Stock Book Value = 975 × 50 = $48750

so book value will be

book value = \frac{440800-48750}{11000}

book value = $35.64

so correct option is b. $35.64

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Susan quit her job as a teacher, which paid her $36,000 per year, in order to start her own catering business. she spent $12,000
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