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krok68 [10]
2 years ago
7

Practice Do It! Review 01 During the current month, Sheridan Company incurs the following manufacturing costs. (a) Purchased raw

materials of $17,600 on account. (b) Incurred factory labor of $38,800. Of that amount, $31,900 relates to wages payable and $6,900 relates to payroll taxes payable. (c) Factory utilities of $3,100 are payable, prepaid factory property taxes of $2,990 have expired, and depreciation on the factory building is $9,400. Prepare journal entries for each type of manufacturing cost.
Business
1 answer:
MArishka [77]2 years ago
5 0

Answer:

Item a

Debit :

Credit :

Item b

Debit :

Credit :

Item c

Debit :

Credit :

Item d

Debit :

Credit :

Item e

Debit :

Credit :

Item f

Debit :

Credit :

Explanation:

If there is no immediate payment of cash, raise a liability - accounts payable

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Classify each of the following items as a final good or an intermediate​ good, and classify the expenditure on each final good a
klasskru [66]

Answer:

Classification of Goods

a.           Intermediate good; Investment

b.           Final Good = Consumption

c.           Intermediate good; Investment

d.           Intermediate good = Investment

Explanation:

An intermediate good produces a final good for consumption.  Intermediate goods are used for investment to generate more resources that can be consumed in the future.  A final good, in most cases, does not require further processing.  It is consumed immediately by the buyer.

5 0
3 years ago
Consider the following demand schedule: Price Quantity Demanded $25 20 $20 40 $15 60 $10 80 What is the price elasticity of dema
mojhsa [17]

Answer:

3.05

1.38

0.725

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Arc elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

Midpoint change in quantity demanded = change in quantity demanded / average of both demands

Price $25-$20

change in quantity demanded  = 40 - 20 = 20

average of both demands = (40 + 20) /2 = 30

Midpoint change in quantity demanded = 20/30 = 0.67

midpoint change in price = change in price / average of both price

change in price = $25 - $20 = $5

average of both price = ($25 + $20) / 2 = 22.5

Price $20-$15

change in quantity demanded  = 60 - 40 = 20

average of both demands = (60 + 40) /2 = 50

Midpoint change in quantity demanded = 20/50 = 0.4

midpoint change in price = change in price / average of both price

change in price = $20 - $15 = $5

average of both price = ($15 + $20) / 2 = 17.5

midpoint change in price = 5 / 17.5 = 0.29

0.4/0.29 = 1.38

Price elasticity of demand = 0.67 / 0.22 = 3.05

change in quantity demanded  = 80 - 60 = 20

average of both demands = (80 + 60) /2 = 70

Midpoint change in quantity demanded = 20/70 = 0.29

midpoint change in price = change in price / average of both price

change in price = $15 - $10 = $5

average of both price = ($15 + $10) / 2 = 12.5

5/12.5 = 0.4

3 0
2 years ago
Who wants to be good friends
NemiM [27]

Answer:

me

Explanation:

can i be brainly

3 0
3 years ago
Read 2 more answers
Suppose Clampett, Inc. terminated its S election on August 28, 2018. At the end of the S corporation's short tax year ending on
charle [14.2K]

Answer:

correct option is $5,750

Explanation:

given data

amounts were both zero

suspended loss = $20,750

additional capital contributions = $5,750

to find out

How much loss may J. D. deduct in 2019

solution

loss may J. D. deduct in 2019 is $5,750

we know that post transmination period end of 15 September

it is extended here due date of final tax return

it is standardize so that J.D. only deduct loss to extend of his contribution on march

so 2nd contribution make on 15 September

so correct option is $5,750

6 0
3 years ago
Waterway Industries reported the following information for 2016: October November December Budgeted sales $950000 $890000 $11000
MakcuM [25]

Answer:

At November 30, 2016, budgeted Accounts Receivable is $445,000

Explanation:

In October, Sales: $950,000

Customer amounts on account are collected: 50% x $950,000= $475,000

At 31 October, Accounts Receivable = 50% x $950,000= $475,000

In November, Sales: $890,000

Customer amounts on account are collected = $475,000 + 50% x $890,000 = $920,000

At November 30, 2016 budgeted Accounts Receivable = 50% x $890,000 = $445,000

8 0
2 years ago
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