Answer:
B. $ 17 comma 100
Explanation:
The movements in inventory account is usually as a result of purchases, sales, returns etc. These are the factors that bring about a difference between the opening and closing balances in the inventory account.
Given that
Beginning Finished Goods Inventory = $14000
Ending Finished Goods Inventory = $14500
Cost of Goods Manufactured = $17600
Sales revenue = $15000
Let the cost of goods sold be B
$14000 + $17600 - B = $14500
B = $14000 + $17600 - $14500
B = $17100
The cost of goods sold is $17100
Answer:
Letter a is correct.<em><u> Pull-based systems.</u></em>
Explanation:
Lean production is a concept instituted by Toyota between 1948 and 1975, whose main objective is to optimize management processes so that customer demands are met in the shortest possible time, at the highest quality and lowest cost, in a process that integrates all organizational levels. It is a waste reduction model through the continuous flow of production processes and integrates the concepts of Kanban, Lean manufacturing, Just in time and production leveling.
Therefore lean production depends on a pull-based system, which is a technique that aims to reduce waste in the production process through less work overload and reducing storage costs, because the work is only performed when there is demand for it.
Answer:
a.) 111 only
Explanation:
Let amount paid = x
12.5% of x = $49375
0.125x = 49375
x = 49375 / 0.125
x = 395,000
The amount worry free financial paid Adcreate is $395,000 ;
Adcreate would subtract their 12.5% ($49,375) and pay CNN;
Amount adcreate paid CNN is :
$395,000 - $49,375 = $345,625
Hence, statements; I. The client (Worry Free Financial) paid AdCreate $425,625 for the three ads.
II. AdCreate paid CNN $425,625 for the three ads.
are untrue
Answer and Explanation:
The Journal entry is shown below:-
Amount should be capitalized for new vehicle = Cost + Painting and new logo cost + Deluxe Roof rack and trailer hitch
= $15,600 + $6,600 + $2,900
= $25,100
We took the cost of painting and deluxe roof and trailer hitch costs into account as they are supposed to increase the vehicle's future benefits.
Depreciation = (Cost - Salvage Value) ÷ Number of Years
= ($25,100 - $6,300) ÷ 5
= $3,760 per year
In the year 2022 vehicle is used only for 6 months (July to Dec), depreciation expense for the year ended December 31, 2022 is
= $3,760 × 6 ÷ 12
= $1,880
So, the Journal entry is
Depreciation expense Dr, $1,880
To Accumulated Depreciation $1,880
(Being depreciation provided for the year 2022 is recorded)
Therefore for recording the depreciation provided for the year 2022 we simply debited the depreciation expenses while we credited the accumulated depreciation.