All categories

3 years ago

Sheffield Company is working on two job orders. The job cost sheets show the following.

Business

1 answer:

IRISSAK [1]3 years ago

4 0

Answer:

See below

Explanation:

Work in process inventory Dr $16,450

------------- Raw material inventory

$7,150 + $9,300 Cr $16,450

Work in process inventory Dr $11,650

Factory labor

-----------------$3,850 + $7,800 Cr $11,650

Work in process inventory Dr $15,000

Manufacturing overhead

$5,200 + $9,800 Cr $15,000

You might be interested in

a company bought a piece of equipment for A200 and expects to use it for eight years. The company that plans to

chubhunter [2.5K]

Answer:

The correct option <u>b. $2,567</u><u>.</u>

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

A company bought a piece of equipment for $49,200 and expects to use it for eight years. The company then plans to sell it for $4,000. The company has already recorded depreciation of $42,632.60. Using the double-declining-balance method, what is the company's annual depreciation expense for the upcoming year? (Round your answer to the nearest whole dollar amount.)

a. $11,300.

b. $2,567.

c. $19,200.

d. $1,642.

The explanation to the answer is now given as follows:

Note: See the attached excel file for the calculation of the annual depreciation expenses.

Double declining depreciation method is an accelerated depreciation technique due to the fact the depreciation expenses are charged faster under it than under straight-line depreciation method.

The depreciation of double declining method is calculated by by multiplying the rate of straight-line depreciation method by 2.

From the question, the already recorded depreciation of $42,632.60 is the accumulated depreciation expenses for the 7th year.

Since the upcoming year is the 8th year which is the last year, the depreciation expense for it can be calculated as by adjusting for the residual value of $4,000 follows:

Equipment cost = $49,200

Accumulated Depreciation = $42,632.60

Residual value = $4,000

Estimated useful life = 8 years

Therefore, we have:

Straight line method depreciation rate = 1 / Estimated useful life = 1 / 8 = 0.125, or 12.50%

Double declining depreciation rate = Straight line method depreciation rate * 2 = 12.50% * 2 = 25%

Beginning book value of the equipment in the upcoming year or in the 8th year = Equipment cost - Accumulated Depreciation = $49,200 - $42,632.60 = $6,567.40

Annual depreciation expense for the upcoming year or for the 8th year = Beginning book value of the equipment - Residual value = $6,567.40 - $4,000 = $2,567

Therefore, the correct option <u>b. $2,567</u><u>.</u>

Download xlsx

7 0

3 years ago

Meaning of jobbers in business studies<br>

Leni [432]

Answer: in business a jobber is a manufacturer, tradesman, or wholesaler who deals in small lots of goods or 'jobs,' or acts as an agent, middleman (intermediary), or a sub-contractor, and usually does not deal directly with the principal customer.

Explanation: a jobber is also an informal name for a broker or someone that negotiates with shares or stocks.

4 0

2 years ago

When comparing a 10-year bond versus a 1-year bond, the 10-year bond has a much greater interest rate risk. True or false?.

ValentinkaMS [17]

True,When comparing a 10-year bond versus a 1-year bond, the 10-year bond has a much greater interest rate risk

A bond is a sort of financial security in which the issuer owes the bearer a debt and is obligated to repay the principle of the bond as well as interest over a specified period of time, depending on the terms. Interest is normally paid at regular intervals.

Bonds are one way for businesses to raise funds. A bond is a loan made between an investor and a firm. The investor agrees to contribute the corporation a particular sum of money for a set length of time. In exchange, the investor receives interest payments on a regular basis.

To know more about bond follow the link:

brainly.com/question/25965295

#SPJ4

5 0

2 years ago

Yuncen Foods is a food manufacturer based in Lumberne. It gets over half of its revenue from international sales. It has been co

Montano1993 [528]

Answer:

a.Geographic and political barriers are irrelevant to the company's business decisions.

Explanation:

It has established its global operations and a good reputation as a global food manufacturer.

4 0

3 years ago

A generation ago, ketchup was an essential element of every American pantry and salsa was a relatively unknown product. The popu

s344n2d4d5 [400]

Answer:

Social

Explanation:

PESTLE analysis is a tool to identify those external factors which influences organization.

P: Political Factors influencing organization's performance.

E: Economical Factors creating hurdles in the way of the organizations.

S: Social Factors account for changed behavior of consumers towards organization.

T: Technological Factors playing it's role in influencing organizational performance.

L: Legal Factors accounting for legal barriers for the organizations.

E: Environmental Factors affecting companies but no one pays attention to it.

Salsa's increased popularity is represented by Social Factor: As belief is the most vital element which has effect on consumers decision making a company's growth or loss can be accounted for it. Not just belief the demographics and the attitude of people towards general issues can play their roles as well.

3 0

3 years ago