All categories

3 years ago

Difference between real flows and monetary flows

1 answer:

3 0

Real flows refer to the flow of the actual goods or services, while money flows refer to the payments for the services (wages, for example) or consumption payments.

You might be interested in

Wilturner Company incurs $83,000 of labor related directly to the product in the Assembly Department, $32,000 of labor related t

Alinara [238K]

Answer:

Work in process inventory ($83,000 + $32,000) $115,000

Factory overhead $19,000

To wages payable $134,000

(Being the labor is recorded)

Explanation:

The journal entry is shown below:

Work in process inventory ($83,000 + $32,000) $115,000

Factory overhead $19,000

To wages payable $134,000

(Being the labor is recorded)

For recording this we debited the work in process inventory and factory overhead and credited the wages payable so that the correct posting could be done

3 0

3 years ago

Shown here are annual financial data at December 31, 2017, taken from two different companies. Beginning inventory Merchandise $

REY [17]

Answer:

Let Company 1 be Green Company Ltd

Let Company 2 be Yellow Company Ltd

Green Company Ltd

Partial Income Statement

For year ended December 31, 2017

Beginning merchandise inventory $125,000

Add: Cost of purchases $320,000

Goods available for sale $445,000

Less: Ending merchandise inventory $110,000

Cost of goods sold $335,000

Yellow Company Ltd

Partial Income Statement

For year ended December 31, 2017

Beginning finished goods inventory $380,000

Add: Cost of goods manufactured $572,000

Goods available for sale $952,000

Less: Ending finished goods inventory $300,000

Cost of goods sold $652,000

3 0

3 years ago

In regression analysis, unexplained variation refers to the variation of:

maria [59]

Various count method

3 0

3 years ago

Arturo Manufacturing, Inc. provided the following information for the year: Beginning Balancelong dashWork-in-Process Invento

11111nata11111 [884]

Answer:

Cost of good manufactured= $841700

Explanation:

To calculate the cost of manufactured goods we need to use the following formula:

Cost of good manufactured= Beginning work in progress+ direct materials of the period + direct labor + manufactured overhead - ending work in progress

Beginning work in progress= $152000

Direct materials = beginning inventory + purchase - ending inventory= 269000 +131000 - 52000= 348000

Direct labor= 73120

Manufactured overhead=ndirect Materials + Indirect Labor + Depreciation on Factory Plant and Equipment + Plant Utilities and Insurance= 52700 + 133500 + 73780 + 71600= $331580

Ending work in progress= 63000

Cost of good manufactured= 152000 + 348000 + 73120 + 331580 - 63000= $841700

3 0

3 years ago

For these reasons, us.law should mandate minimum vacation time.is that a fact or opinion.

arlik [135]

It sounds like it is an opinion. Sorry if it is not correct.

8 0

3 years ago

Difference between real flows and monetary flows​

Difference between real flows and monetary flows