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creativ13 [48]
3 years ago
5

Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145

,000 Cost of testing in search for product alternatives 92,000 Cost of engineering activity required to advance the design of a product to the manufacturing stage 240,000 $477,000 Prepare the necessary 2020 journal entry or entries for Sheffield.
Business
1 answer:
Stells [14]3 years ago
8 0

Answer: Debit Research and Development expense $477,000

Credit Cash $477,000

Explanation:

The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.

Based on the information given in the question, the journal entry for Sheffield Corporation will be:

Debit Research and Development expense $477,000

Credit Cash $477,000

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3 years ago
Cozy Nights Industries manufactures down-filled comforters and uses activity-based costing. The following information is provide
yuradex [85]

Answer:

the total manufacturing cost per comforter is $120.4

Explanation:

The computation of the total manufacturig cost per comfortor is as follows:

= Cost × activity consumed ÷ Total activity

For material handling

= $12,600 × 4 ÷ 4,200

= $12

For Assembly

= $55,440 × 4 ÷ 4,200

= $52.8

For packaging

= $10,920 × 4 ÷ 1,050

= $41.6

And, the direct material cost is $14

So, the total manufacturing cost per comforter is

= $12 + $52.8 + $41.6 + $14

= $120.4

Hence, the total manufacturing cost per comforter is $120.4

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3 0
3 years ago
Recognizing an employee as the Star Performer of the Month would be satisfying the _____ need of the Maslow s hierarchy of needs
Vikki [24]

Answer:

The correct answer to the following question is Esteem need of Maslows hierarchy of needs.

Explanation:

Maslows hierarchy of need is a motivation theory given by Abraham maslow, according to him people are motivated in order to achieve certain. He has described his theory of needs as pyramid which consists of physiological needs, safety needs,  social needs, esteem needs and self actualization.

In esteem needs , maslow tells about people's need for appreciation and respect, after a person has achieved the first three basis needs , the persons behavior would be motivated by esteem needs. Because people have need for feeling prestige and sense of accomplishment, self worth and self esteem.

6 0
3 years ago
Elevators, Inc. does considerable business overseas for high-rise luxury hotels. To speed up the building permit process, it aut
AleksAgata [21]

Answer:

No, Elevators, Inc. has not broken the law because payment was made in United States currency.

Explanation:

It operates a substantial business abroad for high-end luxury hotels. It authorized a project manager to "charge" a government official a charge of 500 for speeding up the building permit process. so

  • Under the law, it is illegal to bribe foreign officials to get business. But there is an exception to "facilitation payments", also known as grease payments made to speed up general government functions.
  • Flexible payments can be used to persuade government officials to perform work that is already being done. Although many have argued that such payments are important for their operations in some areas, such as Asia and Africa, the difference between facility payment and bribery remains unclear.

3 0
3 years ago
Blossom Company has the following inventory data:
Debora [2.8K]

Answer:

Ending inventory= $916.2

Explanation:

Giving the following information:

Nov. 1 Inventory: 35 units  $7.10 each

Nov. 8 Purchase: 142 units  $7.60 each

Nov. 17 Purchase: 71 units  $7.45 each

Nov. 25 Purchase: 106 units $7.80 each

Nov. 30 ending inventory: 118 units on hand. FIFO (first-in, first-out)

Ending inventory= 106*7.8+12*7.45= $916.2

8 0
3 years ago
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