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SCORPION-xisa [38]
3 years ago
12

The beginning inventory of SoCal Wholesalers was $121,000, and the ending inventory is $116,500. What entries are needed at the

end of the fiscal period to adjust Merchandise Inventory?
Business
1 answer:
Sphinxa [80]3 years ago
5 0

Answer and Explanation:

The journal entries that are required to adjust merchandise inventory is given below:

Income Summary  $121,000

        To Inventory $121,000

 (Being eliminate Beginning inventory balance is recorded)

Inventory $116,500

      To Income Summary $116,500

(Being the cost of ending inventory is recorded)  

These two entries should be recorded for adjusting merchandise inventory

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At the beginning of the year, Vaughn Manufacturing estimates annual overhead costs to be $2400000 and that 300000 machine hours
anastassius [24]

Answer:

The amount of overhead applied during the year is $2,680,000

Explanation:

For computing the amount of overhead applied, the following computations are required which is shown below:

1. Compute the overhead cost per machine hour:

The formula is shown below:

= Annual overhead cost ÷ machine hours

= $2,400,000 ÷ 300,000

= $8

Now the amount of overhead applied equals to

= Actual machine-hours × overhead cost per machine hour

= 335,000 hours × $8

= $2,680,000

7 0
3 years ago
10. The assembly worker reached for an Allen wrench in the workplace, hesitating momentarily while searching for the correct siz
Yuri [45]

Answer:

Explanation:

The list can be seen below.

Sequ    Therblig     Therblig                 Description

ence     symbol       name

1          TE       Transport empty   \text{Reach for the Allen wrench in the workplace}

2          St         select                   \text{ Select the correct size}

3          G         Grasp                   \text {Grasp the Allen wrench}

4          TL       Transport loaded  \text{Pick up and move Allen wrench toward screw}

5          P         Position                \text{Position Allen wrench into hexogonal socket}

6          RL       Release               \text{Release grip on Allen wrench}

7          TE       Transport Empty \text{Move wrist and finger in preparation for turning}

8           U         Use                    \text{Twirl Allen wrench with one continuous motion}

9           TE       Transport empty \text{Reposition wrist and hand}

10          G         Grasp                 \text{Grip Allen wrench in preparation for tightening}

11           U          Use                  \text{Tighten screw with Allen wrench}

8 0
3 years ago
Pinpoint diagnostic laboratory has instituted new policies around misappropriation of assets, confidentiality of company informa
Marysya12 [62]

All the above policies may be found in Pinpoint Diagnostic Laboratory's Code of Ethics Manual.

<h3>What is a Code of Ethics Manual?</h3>

This refers to a code of conduct spelled out in black and white which every member of an organization must abide by. It is created to ensure the highest levels of professionalism, integrity, and honesty.

It guides the interactions of the employees with:

  • Other employees
  • Clients and
  • the Public

Please see the link below for more about the Code of Ethics Manual:

brainly.com/question/11471972

5 0
2 years ago
Mary is in contract negotiations with a publishing house for her new novel. She has two options. She may be paid $100,000 up fro
Mazyrski [523]

Rule I is correct.

<u>Explanation:</u>

Year Cash flow Pv at 8% Discounted cash flow

0           100000              1         100000

1            26000              0.9259 24074.074

2            26000               0.8573 22290.809

3             26000         0.7938 20639.638

4             26000      0.7350 19110.776

5             26000       0.6806 17695.163

From the above calculation, the net present value is $203810.46

          Option 1   Option 2

NPV 203810.5 200000

Payback    5 years   0 years

IRR             No IRR No IRR

NPV (Net present value) option say that former would be selected

So, answer is Rule I only.

5 0
4 years ago
A share of BAC common stock has just paid a dividend of $1.00. The market return is 12% and the beta is 1.5. The three month T-b
alexdok [17]

Answer:

Required rate of return= 16%

Stock price= $13.50

Explanation:

A share of BAC common stock just made a dividend payment of $1

Market return is 12%

Beta is 1.5

Risk-free rate is 4%

Growth rate is 8%

The required rate of return for the stock can be calculated as follows

Required rate of return= Risk-free rate+beta×(market rate-risk-free rate)

= 4%+1.5(12%-4%)

= 4%+1.5×8%

= 4%+12

= 16%

The stock price can be calculated as follows

Stock price= dividend for the year/(rate of return-growth rate)

= (1×1.08)/(16/100-8/100)

= 1.08/0.16-0.08

= 1.08/0.08

= $13.50

Hence the required rate of return and the stock price is 16% and $13.50 respectively.

4 0
3 years ago
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