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tresset_1 [31]
2 years ago
12

1) Robolane Incorporated manufactures and distributes small robotic toys. Because most of its orders are via telephone or fax, n

umerous orders have to be reworked. The average cost of the reworked orders is $12.45: $5 for labor, $5.15 for more materials, and $2.30 for overhead. This ratio of costs holds for the average original order. On a recent day, the shop reworked 80 orders out of 800. The original cost of the 80 orders totaled $2,000. The average cost of all orders is $26.245, including rework, with an average selling price of $35. Required: Prepare the necessary journal entry to record the rework for the day if the shop charges such activities to Robo Department Overhead Control. Prepare journal entries to record all relevant rework charges as well as to transfer the reworked items finished goods to Finished Goods Inventory.
Business
1 answer:
Ket [755]2 years ago
7 0

Answer:

Following are the Journal entries to the given question:

Explanation:

Accounts                                                              Dr                                        Cr

Robo Department Overhead Control              996

Materials Control (80 \times 5.15) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \  412

Wages Payable  (80\times 5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 400

Shop overhead control(80\times  2.30) \ \ \ \ \ \ \ \  \ \ \ \ \ \ \ \ \ 184

Finished Goods                                                  2000

Work in process control                                                                             2000

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The profits will peak and decline.
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Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and sna
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Floor ready shipment

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3 years ago
Mary is introduced to three new people at a party. Later, however, she cannot remember the names of any of her new acquaintances
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She never encoded the names into long-term memory is the correct answer.

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7 0
2 years ago
g Robert Hitchcock is 40 years old today and he wishes to accumulate $500,000 by his 65th birthday so he can retire to his summe
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Answer:

The correct answer is $6934.48.

Explanation:

According to the scenario, the given data are as follows:

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So, we can calculate the annual deposit amount by using following formula:

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By putting the value, we get

$500,000 = P × ( 1 + 0.08) [{ (1+0.08)^24 - 1} ÷ 0.08]

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Economy is defined as the management of community, business, or family financial matters. An example in economics is the US stock market system.

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