Answer and Explanation:
The journal entry to record the flow of cost into department 3 is shown below
Work in Process - Department 3 $555,000
To Work in Process - Department 2 $555,000
(Being the flow of cost into department 3 is recorded)
For recording this we debited the work in process in department 3 as there is a flow and credited the work in process in department 2
The amount is came from
= $100,000 + $125,000 + $150,000 + $50,000 + $60,000 + $70,000
= $555,000
This is the answer but the same is not provided in the given options
Answer: and Explanation:
The computation of the markup percentage using the following cost is shown below:
a. Total cost
= Desired profit ÷ total cost
= $28 ÷ $89
= 31.46%
b. Under product cost
= Desired profit ÷ (total cost - seling & admin cost)
= ($28) ÷ ($89 - $14)
= 37.33%
c. Under variable cost
= Desired profit ÷ variable cost
= $28 ÷ $58
= 48.28%
By applying the above formulas we can easily calculate them
Answer:
Method B should be used
Explanation:
Note: See the attached excel file for the calculation of the present worth of Method A and Method B.
From the attached excel file, we have:
Present worth of Method A = –$210,889.85
Present worth of Method B = –$118,011.18
Since the present worth of Method A and B above imply Method A costs more than Method B, Method B should be used.
Answer:
cash used by investing activities 60,000
Explanation:
<u><em>Operating:</em></u>
purchase of inventory (120,000)
<u><em>Investing:</em></u>
acquisition of available-for-sale securities: (60,000)
<u><em>Financing:</em></u>
Issuance of common stock 150,000
Purchase of treasury stock (70,000)
The investing activities will be those which represent a use of cash in securities, shares and note receivables and the cash inflow generate from this investment.
Answer:
16% hit this milestone in 2018
Explanation: