1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wlad13 [49]
2 years ago
8

Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process account of $68,000 on January 1

. The account was charged with direct materials, direct labor, and manufacturing overhead of $450,000 throughout the year. If a review of the accounting records determined that $86,000 of goods were still in production at year-end, Harrington should make a journal entry on December 31 that includes:______.
a) a debit to Cost of Goods Sold for $432,000.
b) a debit to Finished-Goods Inventory for $86,000.
c) a credit to Work-in-Process Inventory for $432,000.
d) a credit to Work-in-Process Inventory for $86,000.
e) a credit to Finished-Goods Inventory for $432,000.
Business
1 answer:
Anika [276]2 years ago
4 0

Answer:

c) a credit to Work-in-Process Inventory for $432,000.

Explanation:

Based on the information given Harrington should make a journal entry on December 31 that includes: A credit to Work-in-Process Inventory for the amount of $432,000 Calculated as :

Opening WIP $68,000

Add Costs incurred throughout $450,000

Less ending WIP ($86,000)

$432,000

Dr Inventory $432,000

Cr Work-in-Process $432,000

You might be interested in
Your shared monthly living expenses (rent + utilities) have been $750 per month, living with three
gizmo_the_mogwai [7]

Answer:

Your shared monthly living expenses (rent + utilities) have been $750 per month, living with three  other students. One of your roommates has to suddenly move out! How much will your share of  the expenses increase to, until you can find a new roommate?​

if $750= 1 month

?= 12 months

then we have; $9000 per year shared by 4 friends

9000/4= $2250 per person in a year and

2250/12= $187.5 per person in a month

If someone left, then we have

$750= 1 month

?= 12 months

$9000/3= $3000 per person in a year

$3000/12= $250 per person in a month

So therefore, the share of expenses monthly increases from $187.5 to $250

Explanation:

7 0
2 years ago
In the United States, personal success and professional achievement are important motivators, and promotions and increased earni
otez555 [7]

People are often motivated to achieved anything. In the United States, personal success and professional achievement are important motivators is a true statement.

  • The universalist assumption is based on the fact that the motivation process is universal and that all people are motivated to run after goals that they value.

Culture often affects specific content and goals, the specific nature of motivation is different in all cultures.  in China, group affiliation; goal, social harmony are motivations for pursuing goals.

Learn more from

brainly.com/question/13132465

4 0
2 years ago
Today companies such as Nike, Walmart and Apple are trying to stop certain harmful practices and prevent managers abroad from ad
Leni [432]

Answer:

where is the wuestion

Explanation:

3 0
2 years ago
Stellar Corporation engaged in the following cash transactions during 2017. Sale of land and building $194,800 Purchase of treas
Law Incorporation [45]

Answer:

The cash provided by investing activities is $91900

Explanation:

The net cash provided or (used) by investing activities is computed thus:

Sale of land and building                     $194800

Purchase of land                                    ($44700)

Purchase of equipment                          ($58200)

Net cash provided by investing activities $91900

The purchase of treasury refers to purchase of own shares from shareholders,hence it is a financing activity

Payment of dividends to shareholders is also a financing activity

Issuance of common stock and retirement of bonds are also financing activity-related,as a result they do not feature in the above computation of cash provided or used by investing activities

3 0
3 years ago
Ralph’s Hardware updated its accounting system and agreed to purchase a computer system from a manufacturer, Bits and Bytes (BB)
Andrej [43]
Given:
<span>Fact 1: During contract negotiations, BB’s sales representative promised that the system was “A-1” and “perfect.”
</span><span>Fact 2: The written contract, which the parties later signed, disclaimed all warranties, express and implied. 
</span><span>Fact 3: After installation the computer produced only random numbers and letters, rather than the desired accounting information

The express warranty is given in Fact 1 where the Sales Rep promised that the system was "A-1" and "perfect". There is a breach in express warranty here IF the written contract also expresses the same promises. 

However, the written contract </span>disclaimed all warranties, express and implied. AND BOTH PARTIES SIGNED THIS CONTRACT. It implies that the buyer has read through the contract and has agreed with what is written in the contract. Thus, they can't file a suit against BB for breaching an express warranty since the written and signed contract has already disclaimed all warranties. 

4 0
3 years ago
Other questions:
  • Which of the following statements regarding convertible term insurance is true?
    8·1 answer
  • What is the difference between supply and quantity supplied?
    6·1 answer
  • Buxmont Manufacturing reported the following year-end balances: Beginning work in process inventory, $40,000; beginning finished
    13·1 answer
  • Laskowski Company manufactures a part for its production cycle. The annual costs per unit for 5,000 units of the part are as fol
    5·1 answer
  • When other salespeople believe that a sales manager has valuable knowledge or skills in a given area, the sales manager is able
    9·1 answer
  • Kiosks and carts are ideal locations for
    13·2 answers
  • Mathrans, a textile firm, wants to hire two costume designers for a new movie project. To precisely determine the future job per
    11·1 answer
  • In a practical sense, the best size for a team is:A. between two and twenty-five members.B. five or fewer people.C. determined b
    11·1 answer
  • 17. Which of the following is not a true statement
    13·1 answer
  • Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store sellin
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!