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3 years ago

Belltone Company made the following expenditures related to its 10-year-old manufacturing facility:

Business

1 answer:

scoundrel [369]3 years ago

6 0

Answer:

The journal entries are as follows:

(1) Accumulated depreciation - Building A/c Dr. $250,000

To Cash $250,000

(To record the replacement of heating system)

(2) Building A/c Dr. $750,000

To cash $750,000

(To record the new wing)

(3) Maintenance expense A/c Dr. $14,000

To cash $14,000

(To record the maintenance expense)

(4) Equipment A/c Dr. $50,000

To cash $50,000

(To record the new equipment)

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As an important control for the occurrence assertion related to sales, the computer starts with the population of daily sales in

7nadin3 [17]

Answer:

A. bill of lading

Explanation:

The bill of lading is the document that supports the sales invoice as the bil of lading contains the details regarding the shipment and the confirmation with respect to the delivery

So as per the given situation since it is mentioned in the question that for shipping documents the sales invoice should be supported by the bill of lading

hence, the same is to be considered

8 0

2 years ago

The budget process involves doing all of the following except a. periodically comparing actual results with the goals b. establi

Sergio [31]

Answer:

d. dismissing all managers who fail to achieve operational goals specified in the budget

Explanation:

The budget, no matter how well it's done, It's a forecast.

Price can change without the company being able to intervene, the same goes for consumer demand, foreign currency rates changes, and other variables in the budget.

Having that in mind, the accounting can measure the variance and check the efficiency and price influence in the result below expected.

Therefore, dismiss immediately after not achieving a goal is not the purpose of a budget

7 0

3 years ago

Warner Corporation purchased a machine 7 years ago for $405,000 when it launched product P50. Unfortunately, this machine has br

maxonik [38]

Answer:

1. $46,550

2. $405,000

3. $450,600

Explanation:

1. Computation of differential cost regarding the decision to buy the model 200

Differential cost = Cost of a new model 300 - Cost of a new model 200

Differential cost = $396,350 - $349,800

Differential cost = $46,550

So, the differential cost regarding decision to buy model 200 is $46,550.

2. Sunk costs are the costs which are already incurred by the entity in the past and which are not relevant to decision made today. In this case, sunk cost is the cost of the machine purchased seven years ago for $405,000.

3. Opportunity cost is the profit forgone by chosen alternative course of action. In this case, the Opportunity cost regarding the decision to invest in the model 200 machine is $450,600.

6 0

3 years ago

The amount of something that is produced compared to the resources taken to product it is called _________.

Mariulka [41]

The answer is efficiency

3 0

3 years ago

Inventory information for Part 311 of Whispering Corp. discloses the following information for the month of June.

bearhunter [10]

Answer:

FIFO: ending inventory: $9,528 COGS: $ 14,452

LIFO: ending inventory: $ 8,422 COGS: $ 15,558 (periodic)

LIFO: ending inventory $ 9,035 COGS ·$ 14,945 (perpetual)

Explanation:

June 1 Balance 304 units @ $13 3, 952

June 11 Purchased 804 units @ $15 12,060

June 20 Purchased 498 units @ $16 7, 968

Tota units 1,606 Cost available: 23,980

June 10 Sold 205 units @ $30

June 15 Sold 504 units @ $32

June 27 Sold 295 units @ $34

Total units: 1,004 units

Ending Inventory units: 1,606 - 1,004 = 602

FIFO:

first units are sold while last are ending inventory.

As we always pick from chronological order is the same under perpetual or periodic method.

Ending Inventory: 602 units

June 20 Purchased 498 units @ $16 7, 968 (602 - 498 = 104)

June 11 Purchased 104 units @ $15 1, 560

Total: 9,528

COGS: Difference between cost available and ending inventory:

23,980 - 9,528 = 14,452

LIFO:

first units are part of ending inventory. As the units aren't picked in chronological order the values cahnges under perpetual and periodic method.

periodic ending inventory:

June 1 Balance 304 units @ $13 3, 952 (602 - 304 = 298)

June 11 Purchased 298 units @ $15 4,470

Total 8,422

COGS: 23,980 - 8,422 = 15,558

perpetual method:

Inventory after 1st sale: 304 - 205 = 99 units at 13

Inventory after 2nd sale.

99 untis at 13

804-504 = 300 units at 15

Inventory after 3rd sale.

99 untis at 13 1,287

300 units at 15 4,500

498 - 295 = 203 units at 16 3,248

ending inventory: 9,035

COGS: 23,980 - 9,035 = 14,945

8 0

3 years ago