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nikitadnepr [17]
3 years ago
9

The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current info

rmation for the Duerr Company follows:
Beginning raw materials inventory $27,000
Ending raw materials inventory 30,000
Raw material purchases 104,000
Beginning work in process inventory 39,000
Ending work in process inventory 49,000
Direct labor 129,000
Total factory overhead 104,000
Beginning finished goods inventory 79,000
Ending finished goods inventory 59,000

The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:________
Business
1 answer:
notka56 [123]3 years ago
3 0

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the direct material used:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 27,000 + 104,000 - 30,000

Direct material used= $101,000

<u>Now, the cost of goods manufactured:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured=  39,000 + 101,000 + 129,000 + 104,000 - 49,000

cost of goods manufactured= $324,000

<u>Finally, the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 79,000 + 324,000 - 59,000

COGS= $344,000

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Answer: Option b

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In the given case, Gerald wants to operate his business globally and not eager to control all of it.

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6 0
3 years ago
First National Bank charges 13.4 percent compounded monthly on its business loans. First United Bank charges 13.7 percent compou
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Answer:

First National Bank-14.25%

First United Bank-14.17%

As a potential borrower, I would go for First United Bank, as it offers a lower rate, which implies a lower interest cost on the loan.

Explanation:

Effective Annual Rate (EAR) is the equivalent annual interest rate where the interest rate for a transaction is quoted to be compounded for a period shorter that a year.

Usually , where the interest  nominal interest rate is quoted to be compounded for  a shorter period than a year, the EAR is usually higher. The EAR is computed as follows using this formula:

EAR =( (1+r/m)^(m) - 1 ) × 100

r-  nominal interest rate per annum, m- number of compounding periods in a year

So we can compute the EAR for the two banks :

First National Bank:

m= 12 compounding periods in a year

Monthly interest rate = r/m = 13.4%/12 = 0.01116

EAR = (1 + 0.01116)^(12) - 1

       = 14.25%

First United Bank:

m = 2 compounding periods in a year

Semi-annual interest rate = 13.7%/2 = 0.0685

EAR = (1+0.0685)^(2) -1

        = 14.17%

As a potential borrower, I would go for First United Bank, as it offers a lower rate, which implies a lower interest cost on the loan.

First National Bank-14.25%

First United Bank-14.17%

8 0
3 years ago
To loosen credit the Federal Reserve will: A sell U.S. Government securities to bank dealers with an agreement to buy them back
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Answer:

B buy U.S. Government securities from bank dealers with an agreement to sell them back at a later date

Explanation:

The Federal reserve uses open market operations to regulate liquidity in the economy. This eases or restricts how bank dealers can give credit.

To ease credit giving ability of bank dealers the Federal Reserve will buy US Government securities from bank dealers. This gives them extra money which they can give out as loans to their customers.

On the other hand when credit needs to be tightened, the Federal Reserve will mop up cash by selling Government securities to the bank dealers

4 0
3 years ago
How can exchange rates change to reduce the wage differential between countries​
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Answer:

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Technically, it could happen that a country changes its exchange rate with respect to a hard currency (such as the Dollar or the Euro) through fixed exchange rates, in order to increase the value of the salaries of its citizens, measured in international currencies. For example, if the Mexican government fixed a parity between the dollar and the peso of value 1 to 1, the minimum wage of Mexicans would go from being worth $ 215 to multiplying by 20, that is, to $ 4,300.

Now, in practice, this situation is practically impossible, since it would imply a monetary modification in the country that makes the adjustment, since otherwise it would imply an unprecedented inflationary peak.

4 0
3 years ago
Kara Fashions uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. Three years
horrorfan [7]

Answer:

A. Credit $5,000

B. Dr Income tax expense $1,005,000

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Explanation:

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