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Fantom [35]
3 years ago
5

Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year: Work in Proces

s, January 1 $ 50,000 Work in Process, December 31 37,000 Direct materials used $ 12,500 Total factory overhead 5,500 Direct labor used 26,500 Multiple Choice $13,000. $44,500. $57,500. $94,500. $89,000.
Business
1 answer:
Paraphin [41]3 years ago
3 0

Answer:

b. $44,500

Explanation:

Particulars                             Amount

Direct material used             $12,500

Direct labor used                  $26,500

Total factory overhead         <u>$5,500</u>

Total Manufacturing Cost   <u>$44,500</u>

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On December 31, 2020, Blossom Inc. has a machine with a book value of $1,034,000. The original cost and related accumulated depr
dangina [55]

Answer:

A)

Loss on Fire          280,720 debit

Acc depreciation 506,000 debit

Cash                     643,280 debit

      Equipment                     1,430,000 credit

B)

Acc depreciation 526,000 debit

Cash                   1,555,480 debit

      Equipment                     1,430,000 credit

     Gain at disposal                608,480 credit

C)

charitable contribution     1,645,600 debit

accumulated depreciation 500,500 debit

       equipment                                1,430,000 credit

       gain on disposal                          716,100  credit

<u>Questions</u>

A Fire completely destroys the machine on August 31, 2021. An insurance settlement of $643,280 was received for this casualty. Assume the settlement was received immediately.

B On April 1, 2021, Tritt sold the machine for $1,555,840 to Dwight Yoakam Company.

C On July 31, 2021, the company donated this machine to the Mountain King City Council. The fair value of the machine at the time of the donation was estimated to be $1,645,600.

Explanation:

In all cases, the company will write-off the equipment and acc depreciation

A.-

complete depreciation for 2020: 66,000

depreciation until August 31th: 66,000 x 8/12 = 44,000

Total depreciation 104,000

book value 1,034,000 - 104,000 = 924,000

loss: 924,000 - 643,280 = 280,72‬0

b)

complete depreciation for 2020:                   66,000

depreciation until April 31th: 66,000 x 4/12 = 22,000

Total depreciation     88,000

book value 1,034,000 - 88,000 = 946,000

1,555,480 - 946,000  = 608,480

c)

complete depreciation for 2020:                  66,000

depreciation until July 31th: 66,000 x 7/12 = 38,500

Total depreciation                                          104,500

book value 1,034,000 - 104,500 =   929,500

gain: 1,645,600 - 929,500 = 716.100

3 0
3 years ago
Joy and her manager agreed in January that in order to be ready to take on a new group project in June, Joy should complete a cl
Slav-nsk [51]

Answer:

were situational constraints

Explanation:

Situational constraints represent the external factors that slows the performance of the workers. Here the workers have not a knowledge regarding to their field such as how to use the material equipment etc

Since in the question it is mentioned that she is unable to attend the training as her manager thinks that there would be situation constraints which do not permit Joy for finishing the objective

So the above represent the answer

6 0
2 years ago
In economic terms, the long-run monetary benefits of doing business in a country are based on the size of the market, the presen
Nana76 [90]

Gross domestic product is one of the factor that aid the long run monetary benefit in business.

<h3>What is Gross domestic product?</h3>

Gross domestic product refer to the the overall monetary or market value of all thecompleted goods and services that is manufactured within a specific country at a period of time.

It is the overall measure of overall domestic production, it help the to know if the country is okay or not.

It help to estimate the size of the economy.

To calculate, GDP

GDP = Consumption + investment+ government spending + net worth.

Therefore, Gross domestic product is one of the factor that aid the long run monetary benefit in business.

Learn more on Gross domestic product from the link below.

brainly.com/question/1383956

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3 0
2 years ago
Black systems sold and delivered modems to white computers for $330,000 to be paid by white in three equal installments over the
patriot [66]
Why are they giving $110,000 more?
5 0
3 years ago
Suppose the reserve requirement is 5​%. What is the effect on total checkable deposits in the economy if bank reserves increase
madam [21]

Answer:

D. ​$1 comma 000 billion increase

Explanation:

The reserve requirement ratio determines the total amount of checkable deposits a bank must keep.

In this case the reserve ratio it's 5%, which means that the total amount of deposits cannot exceed an amount equal to 20 times its reserves.  

If the reserves increase by $50 billion then $50/0,05 = 1.000 billion increase.

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