Answer:
1. Crane Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $23,000 and sales taxes $1,150.
Dr. Cr.
Cash $24,150
Sales $23,000
Sales tax Payable $1,150
<u> </u>
2. Sunland Company does not segregate sales and sales taxes. Its register total for April 15 is $14,840, which includes a 6% sales tax.
Dr. Cr.
Cash $14,840
Sales $14,000
Sales tax Payable $840
Working:
Sales Tax = ( $14,840 / 106 ) x 6 = $840
Sales = $14,840 - $840 = $14,000
Answer:
<em>The 4Ps of marketing is a model for enhancing the components of your "marketing mix"</em><em>price, product, promotion, and place</em>
Explanation:
<em>h</em><em>o</em><em>p</em><em>e</em><em> </em><em>i</em><em>t</em><em> </em><em>h</em><em>e</em><em>l</em><em>p</em>
<em>p</em><em>l</em><em>s</em><em>s</em><em> </em><em>b</em><em>r</em><em>a</em><em>i</em><em>n</em><em>l</em><em>y</em><em>s</em><em> </em><em>m</em><em>e</em>
<em>t</em><em>h</em><em>a</em><em>n</em><em>k</em><em>s</em><em> </em><em>f</em><em>o</em><em>r</em><em> </em><em>t</em><em>h</em><em>e</em><em> </em><em>p</em><em>o</em><em>i</em><em>n</em><em>t</em><em>s</em>
This is an example of a moral hazard. This is a condition
in which one party gets convoluted in a dangerous occurrence knowing that it is
sheltered in contradiction of the risk and the other party will suffer the
cost. It arises when mutually the parties have imperfect information about each
other.
Answer:
Cost of jobs completed in February=
Direct materials issued to production+
Direct labor costs+
Manufacturing overhead applied
=(96000+113000+119000)
=$328000(B).
Answer:
$232,825
Explanation:
Step 1: Calculation of cost of goods sold (COGS) under First In First Out (FIFO)
Since we know that;
Ending inventory = Beginning inventory + Purchase - COGS of FIFO
Therefore, we can rearrange to make COGS the subject of the formula and substitute the values as follows:
COGS under FIFO = Beginning inventory + Purchase - Ending inventory
= $110,000 + $237,500 - $114,000 =
COGS under FIFO = $233,500
Step 2: Calculation of COGS under Last In First Out (LIFO)
COGS under LIFO = COGS under FIFO - Rise in LIFO reserve
= $233,500 - $675
COGS under LIFO = $232,825
Therefore, the value of COGS LIFO for Brady Inc. in 2018 is $232,825.
