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atroni [7]
3 years ago
12

Selected accounts with some amounts omitted are as follows: Work in Process Oct. 1 Balance 23,000 Oct. 31 Goods finished X 31 Di

rect materials 94,300 31 Direct labor 194,900 31 Factory overhead X Finished Goods Oct. 1 Balance 14,700 31 Goods finished 329,500 If the balance of Work in Process on October 31 is $203,500, what was the amount of factory overhead applied in October? a.$94,300 b.$220,800 c.$421,400 d.$194,900
Business
1 answer:
Anna11 [10]3 years ago
5 0

Answer:

b.$220,800

Explanation:

Calculation to determine what was the amount of factory overhead applied in October

Finished goods during October $ 329,500

Add: Balance of work in progress on October 31 $203,500

Less: Balance of work in progress on October 1 (23,000)

Less: Direct Materials $(94,300)

Less: Direct Labor ($194,900)

Factory Overhead applied in October $$220,800

Therefore the amount of factory overhead applied in October is $220,800

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The journal entry to close the Fees Earned, $750, and Rent Revenue, $175, accounts during the year-end closing process would be:
maks197457 [2]

Answer:

c. Dec. 31Fees Earned750 Rent Revenue175 Income Summary925

Explanation:

The journal entry to record the closing of Fees earned and rent revenue is given below:

On Dec 31

Fees earned $750

Rent revenue $175

         To Income summary $925

(Being the revenues and fees earned is closed)

For recording this we debited the fees earned and rent revenue and credited the income summary so that the correct recording and posting could be done

Therefore the total amount of $925 is credited to income summary

5 0
4 years ago
The discounted cash inflows of a project minus the discounted cash outflows is referred to as the _____.
Ira Lisetskai [31]

<span>The answer is net present value. It is the difference between the present value of cash inflows and the present value of cash outflows. NPV is used in capital budgeting to examine the effectiveness of a projected investment or project. A net present value that is positive stipulates that the projected earnings produced by a project or investment surpasses the anticipated costs. In general, an investment with a positive NPV will be a profitable one and the one with a negative NPV will result in a net loss. </span>

5 0
3 years ago
A person is overweight (350 pounds) and desires to lose 10% of his body weight over 6 months. what is the total kcalorie intake
snow_tiger [21]

Total caloric restriction over 6 moths:

10%*350 pounds = 35 pounds.

35 pounds * 3,500 calories per pound = 122,500 total calories.

------------------------------------

If weigh loss period is 27 weeks, divide by total number of weeks:

122,500 calories/ 27 weeks = 4537 calories per week

and by number of days (27 weeks= 189 days)

122,500/189 = 648 calories per day

5 0
3 years ago
Marigold Corp.budgeted manufacturing costs for 70000 tons of steel are: Fixed manufacturing costs $50000 per month Variable manu
Nataly [62]

Answer: $290,000

Explanation:

Flexible budget for 20,000 tons:

Fixed manufacturing costs (Period costs constant irrespective of tons produced) $50,000

Variable manufacturing costs

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Total Manufacturing costs for 20,000 tons will be:

$50,000 + $240000 = $290,000

Note: Variable costs varies based on the number of units produced whereas Fixed costs are the period costs that are constant irrespective of units produced.

7 0
3 years ago
Read 2 more answers
Arbitrage is used successfully by many active securities investors. True statements about arbitrage include which of the followi
lakkis [162]

Answer:

It can be a good way to increase portfolio value.

Explanation:

Arbitrage trading involving buying an investment instrument in one market and simultaneously selling it in another.  Arbitrage trading takes advantage of unadjusted/ unsynchronized prices (market inefficiency) in different markets. Stock XY may be trading at a price of $45.41 in market A and $45.51 in market B. An investor can buy the stock in Market A and, at the same time, sell it in market B, thereby gaining $0.10 per stock.

Arbitrate trading is a low-risk investment strategy, but its returns could be great. Trades are executed simultaneously, minimizing risk. Rewards are constant. Arbitrate trading is a good way of growing a portfolio due to its low-risk and almost guaranteed profits characteristics.

4 0
3 years ago
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