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3 years ago

At December 31, Year 1, Kale Co. had the following balances in the accounts it maintains at First State Bank:

Business

1 answer:

nignag [31]3 years ago

7 0

Answer:

$240,000

Explanation:

The computation of the amount of cash and cash equivalent is as follows;

Amount of cash and cash equivalents is

= Money market account + 90-day certificate of deposit + Checking account for 101 - Checking account for

= $25,000 + $50,000 + ($175,000 - $10,000)

= $25,000 + $50,000 + $165,000

= $240,000

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During July, the equivalent units of direct materials added to the product worked on by Department A amounted to a total of 90,0

dybincka [34]

Answer:

Cost of ending inventory =$15,000

Explanation:

Given:

Direct material = 90,000

beginning Inventory = 20,000

Completed Inventory = 60,000

Ending Inventory = 10,000

Total cost of direct materials = $135,000

Computation:

Cost of ending inventory = Ending Inventory × Per Item cost

Cost of ending inventory = 10,000 × $1.50

Cost of ending inventory =$15,000

Working Note:

Cost per unit = Cost of direct materials / Units in direct materials

Cost per unit = $135,000 / 90,000

Cost per unit = $1.50

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3 years ago

At the beginning of Year 1, the company's inventory level was stated correctly. At the end of Year 1, inventory was overstated b

Furkat [3]

Answer:

$5,000 ; $2,550

Explanation:

The computation is shown below:

For net income in year 1

= Reported net income + overstated inventory amount

= $3,000 + $2,000

= $5,000

For net income in year 2

= Reported net income - understated inventory amount

= $3,000 - $450

= $2,550

Therefore, the net income in Year 1 and in Year 2 is $5,000 and $2,550 respectively.

5 0

3 years ago

Oxford packing company reported net sales in november of the current year of $1,000,000. at the beginning of november, the compa

creativ13 [48]

<span>First we must determine the cost of goods sold during November. For this we use beginning inventory ($368,000) + purchases ($217,500) - ending inventory ($226,750). This gives us a total cost of goods sold for November of $358,750. Then, we take the net sales ($1,000,000) minus the cost of goods sold ($358,750) which equals our gross profit of $641,250. Finally we divide gross profit ($641,250) by net sales ($1,000,000) to determine the gross profit rate to be 64.125%</span>

8 0

3 years ago

The suggestion that disparate impact should be measured only at the ______ ignores the fact that title vii guarantees these indi

Yuri [45]

bottom line. This is a direct quote from the textbook by Cengage called Employment and Labor Law.

3 0

3 years ago

Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respec

Jobisdone [24]

Answer:

MPC = 0.8

MPC = 0.2

Explanation:

Marginal propensity to consume is the proportion of an increase in income that is spent on consumption.

Marginal propensity to consume = increase in consumption / increase in disposable income

Marginal propensity to save is the proportion of an increase in income that is saved.

Marginal propensity to save = increase in savings / increase in disposable income

Disposable income is either consumed or saved. so,

Marginal propensity to consume + marginal propensity to save = 1

Marginal propensity to consume = $64 / $80 = 0.8

Marginal propensity to save = $16 / $80 = 0.2

I hope my answer helps you

7 0

3 years ago

Read 2 more answers