Answer:
The cost of units completed this period is $ 350,000
Explanation:
<u><em>Units Out of the Process Were:</em></u>
Finished Goods = 50,000
Ending Work In Progress = 2500
<u>1.) Finished Goods Equivalent Units</u>
Materials : Finished Goods are 100% complete in terms of materials hence 50000 equivalent units
Conversion : Finished Goods are 100% complete in terms of conversion costs hence 50000 equivalent units
<u> 2.) Cost of units completed Units</u>
Materials : 50000 × 5.75 =287500
Conversion : 50000×1.25 =62500
Total = 287500 + 62500 = $ 350,000
<em>*Note Ending Inventory is not relevant for this question</em>
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Answer:
$800,000
Explanation:
Given that;
Sales revenue = $800,000
Cash collected = $645,000
Remaining amount cash collected in January = $155,000
And the delivery of goods is $11,100
Here, since the service revenue earned is $800,000 and same amount would be reported under the income statement, other items given would be ignored.
It therefore means that the sum of $800,000 should be the 2019 income statement report for service revenue.
Answer:
The Current account is for goods and services.
The Financial account is for exchange of currencies and financial assets across countries.
Miguel, a U.S. resident, buys an HDTV set for $2,500 and sends it to Mexico as a gift to his parents. <u>DEBIT CURRENT ACCOUNT. CREDIT CURRENT ACCOUNT. </u>
Miguel buys the good in the U.S. and then sends it so this falls under the current account alone.
Arielle, a French tourist, stays at a hotel in San Francisco and pays $400 for it with her debit card issued by a French bank. <u>DEBIT FINANCIAL ACCOUNT. CREDIT CURRENT ACCOUNT. </u>
The Financial account should be debited to show that currency is coming into the U.S. from outside the country and current account should be credited for services rendered.
A U.S. computer manufacturer purchases hard drives from a Korean company, paying the funds from its bank account in Korea. <u>DEBIT CURRENT ACCOUNT. CREDIT FINANCIAL ACCOUNT. </u>
Current account should be debited to reflect that goods are coming into the country but the financial account should be credited to show that currency is leaving the ownership of an American entity so it is passing out of American hands.
For an effective communication to take place the selection of the most appropriate channel ( medium for convening information) for the intended audience is very important
Explanation:
The factors that are important in the determination of the most appropriate channel/Medium for communication are:
- Urgency of the message(Importance of the message)
- Confidentiality of the message and the medium
- Record(The business communication needs to be recorded)
- Cost incurred in sending the message
- Supporting Technology
- Distance
When determining the most effective channel for the message,one should initially consider the importance of the message.
