Answer:
$3,483.17
Explanation:
Calculation for the amount of cost allocated to the Cafeteria under the step method
Using this formula
Allocation to Cafeteria=[Cafeteria/(Cafeteria+Producing Department A+Producing Department B)]×Budgeted costs
Let plug in the formula
Allocation to Cafeteria=[25/(25 + 308 + 287)] x $72,450
Allocation to Cafeteria=(25/520)×$72,450
Allocation to Cafeteria=0.0480769231×$72,450
Allocation to Cafeteria=$3,483.17
Therefore the amount of cost allocated to the Cafeteria under the step method would be $3,483.17
Answer:
A. Continuous review system
B. Order quantity = 2,049 Books
C. Reorder point=987
Explanation:
a. In order To manage inventory, the company is using what is called Continuous review system
b. Calculation to find the order quality
Using this formula
Order quantity = √((2DS)/H)
Let plug in the morning
Order quantity=√ ((2 x 49,404 x 17)/0.40)
Order quantity = 2,049 Books
(138*358=49,404)
C. Calculation for reorder point
First step is to find the σL
73 % S.L. - z = 0.613
Using this formula to find the σL
σL = (Lσ^2)
Let plug in the formula
σL=√(7(13)^2)
σL= 34.39
Second step is to find the Reorder point using this formula
R = d bar(L) + zσL
Let plug in the formula
Reorder point = (138)(7) + 0.613(34.39)
Reorder point = 966+21
Reorder point=987
Bonds issued in the names and addresses of their holders are called: Registered bonds.
<h3>What is Registered bonds?</h3>
Registered bonds are be defined as the type of bonds in which a a person owning a bond information or details are registered or recorded with the party that issued it.
In registered bonds the registered holder must tend to notify or inform the issuer of the bond whenever their is change in ownership.
Therefore Bonds issued in the names and addresses of their holders are called: Registered bonds.
Learn more about Registered bonds here:brainly.com/question/11882834
Answer:
B. debit to WIP inventory
Explanation:
The journal entry to record the usage of direct material in production is
Work in Process Inventory Dr.
To Raw Material Inventory
(Raw materials consumed recorded)
Raw material inventory is an asset. It's consumption should reduce it's balance. A debit increases an asset's balance while a credit reduces it's balance.
Work in process, like raw material is an inventory account i.e an asset. A debit increases their balance whereas a credit reduces it.
Here, raw materials i.e direct material have been issued for production, which would reduce their balance and increase the balance of work in process as finished goods are yet to be made.
Answer:
1.Dr Postage expense $47
Dr Delivery expense $72
Dr Supplies expense $37
Dr Entertainment expense $25
Cr Petty cash $181
2.
Dr Petty cash $181
Cr Cash $181
Explanation:
Preparation of the Journal entry to record all employee expenditures and the entry to replenish the petty cash fund.
1.Since we were told to record all employee expenditures this means that the employee expenditures Journal entry will be recorded as:
Dr Postage expense $47
Dr Delivery expense $72
Dr Supplies expense $37
Dr Entertainment expense $25
Cr Petty cash $181
($47+$72+$37+$25)
2. Since we were told to record the entry to replenish the petty cash fund, this means that the petty cash fund will be recorded as:
Dr Petty cash $181
($47+$72+$37+$25)
Cr Cash $181
