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Andre45 [30]
3 years ago
8

Which of the following are automatically withheld from paychecks?

Business
1 answer:
Dimas [21]3 years ago
4 0
Taxes are automatically withdrawn from paychecks.
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Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follow
Anestetic [448]

Answer:

3.

DR Selling and Administrative Salaries               $240,000

      Manufacturing Overhead                                $150,000

      Work in Process                                                $600,000

CR Wages Payable                                                                      $990,000

4.

Manufacturing Overhead Applied

= 41,000 hours * 16.25

= $666,250

5. Total Manufacturing cost to be added = Raw Materials + Direct Labor + Manufacturing Overhead

= 480,000 + 600,000 + 666,250

= $1,746,250

6.

DR Finished Goods                                             $1,680,000

CR Work in Process                                                                $1,680,000

7.

Ending Balance = Beginning balance + Raw materials + Direct labor + Manufacturing Overhead - Cost transferred to Finished goods

= 18,000 + 480,000 + 666,250 + 84,250 - 1,680,000

= $84,250

9. Predetermined overhead cost - Actual cost = 666,250 - 650,000 = $16,250.

<u>Overapplied</u> as predetermined cost was more than Actual.

12. Finished goods = Beginning balance + Cost transferred from WIP - Cost of goods sold

= 35,000 + 1,680,000 - 1,690,000

= $25,000

13.

Adjusted Cost of Goods sold = Cost of goods sold - Overapplied

= 1,690,000 - 16,250

= $1,673,750

14. Gross Margin = Sales - Adjusted COGS

= 2,800,000 - 1,673,750

= $1,126,350

15. Net Operating Income

= Gross Margin - Selling and Administrative salaries - Selling and Administrative expenses

= 1,126,350 - 240,000 - 367,000

= $519,250

6 0
4 years ago
Franktown meats just announced that they are increasing the annual dividend to $1.75 and establishing a policy whereby the divid
Monica [59]

I guess the correct answer is $15.77

Franktown Meats just announced that they are increasing the annual dividend to $1.75 and establishing a policy whereby the dividend will increase by 2% annually thereafter. One share of this stock be worth six years from now is $15.77 if the required rate of return is 14.5%

5 0
3 years ago
Discuss reasons why a business needs funding ?
castortr0y [4]

Answer:

Firms need finance to:

start up a business, eg pay for premises, new equipment and advertising.

run the business, eg having enough cash to pay staff wages and suppliers on time.

expand the business, eg having funds to pay for a new branch in a different city or country.

3 0
2 years ago
Bank Robbery. Victor robbed Safe Bank of a significant sum of cash. Safe Bank offered a reward of $10,000 for anyone who capture
laiz [17]

Answer:

E. Ursula is likely to prevail because an enforceable unilateral contract exists based on her provision of information leading to the capture of Victor.

Explanation:

A unilateral contract is in existence because safe bank has made an offer to pay $10,000. And in a unilateral contract when an offerer like safe bank makes an offer, the offer is accepted through actual performance which Ted has done through information Ursula provided. Therefore Ursula would prevail because unilateral contracts are enforceable by the law.

4 0
3 years ago
Describe the difference between a fixed-quantity (Q) and a fixed-period (P) inventory systems and provide an example for each.
sergeinik [125]

Answer and Explanation:

The fixed quantity inventory system, the quantity of an order or the lot size is fixed in nature i.e. the similar amount means the quantity is ordered each and every time. It could be managed by continonusly watching the level of inventory. Example - economic order quantity

On the other hand, the fixed period inventory system is a system in which the inventory is to be checked at fixed inventory. It is same as the periodic reveiw system instead of the continuous basis. Example - drugstore

7 0
3 years ago
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