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Lostsunrise [7]
3 years ago
7

Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting informa

tion remained in the office files:
Cost of goods sold $88,250
Work in process inventory, January 1, 2016 21,800
Work in process inventory, December 31, 2016 17,250
Selling and Administrative Expenses 20,400
Net Income 35,500
Factory overhead 21,650
Direct materials inventory, January 1, 2016 28,200
Direct materials inventory, December 31, 2016 15,375
Cost of goods manufactured 107,350
Finished goods inventory, January 1, 2016 35,675
Direct labor cost incurred during the period amounted to 2.5 times the factory overhead. The CFO of Tierney Construction, Inc. has asked you to recalculate the following accounts and to report to him by the end of tomorrow.
What should be the amount in the finished goods inventory at December 31, 2016?
Business
1 answer:
kaheart [24]3 years ago
7 0

Answer:

$54,775

Explanation:

The computation of the finished goods inventory is shown below:

As we know that

Cost of Goods sold = Cost of goods manufactured + Opening stock of Finished goods - Closing stock of Finished goods

Now

Ending Stock of Finished goods = Cost of goods manufactured + Opening stock of Finished goods - Cost of Goods sold

So,

Ending Stock of Finished goods is

= $107,350 + $35,675 - $88,250

= $54,775

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In a group of 68 students, each student is registered for at least one of three classes – History, Math and English. Twenty-five
Zarrin [17]

Answer:

c.10

Explanation:

We have 68 students, 3 of them are registered in three classes, so (68-3 =65), 65 students are registered in one or two classes.

Additionally, we know that:

  • 25 students are registered for History.
  • 25 students are registered for Math
  • 34 students are registered for English

If we want to know only the registrations of students that are registered for one or two classes, we should substract 3 in every class (the three students that ar registered for the three classes)

So, now we have:

  • 22 students registered for History.
  • 22 students registered for Math
  • 31 students  registered for English

Total registrations for stdents registered in one or two clases: 22+22+31= 75

75 registrations of 65 students

So 75-65=10 .. There are 10 students registered for 2 classes.

7 0
4 years ago
In the U.S., the iron and steel industry is concentrated in the: A.South B.North C.Midwest D.West
lesya [120]
I think the FIRST answer is North because then it goes to the MidWest.
4 0
3 years ago
Theo wants to have $40,000 for a down payment on a house five years from now. He can either deposit one lump sum today or he can
juin [17]

Answer:

$1932.37

Explanation:

To find out how much additional money he must deposit if he waits for 1 year rather than making a deposit today we need to find the difference:

Difference = Value after 1 year - Present value

We first convert the interest rate percentage by dividing interest rate value by 100

Present Value = $40 000 / (1 + 0.035)5 = $7729.47

Value after 1 year = $40 000 / (1 + 0.035)4 = $9661.81

Difference = $9661.81 - $7729.47 = $1932.37

4 0
3 years ago
Suppose an increase in demand in the market for mutual funds (a financial capital market) causes the interest rate to increase f
Cerrena [4.2K]

With the increase in the demand of the mutual funds, the quantity supplied of the mutual funds will also increase because of the increase in the rate of interest.

<u>Explanation:</u>

All in all, when the rate of interest is rising, it normally makes shared assets, and different ventures, less appealing. This is on the grounds that the expense of acquiring increments with an expansion in loan fee and people and organizations has less cash to place in their portfolio.

As a result of this increase in the cost of borrowing, the quantity supplied of the mutual funds increases in the market, thus increasing the supply in the financial market.

5 0
3 years ago
Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $209,800 during the current ye
Crank

Answer:

  $214,800

Explanation:

The amount paid is the sum of the amount declared and the difference in amounts payable.

  dividends paid = $209,800 +50,400 -45,400

  dividends paid = $214,800

5 0
3 years ago
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