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Sergio [31]
2 years ago
13

Money ​'M​' and nonmonetary assets ​'NM​' are the only assets available in financial markets.

Business
1 answer:
maksim [4K]2 years ago
3 0

Answer:

Explpanation:

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Boris, Inc. sells a single product for $900 per unit, including a 90-day warranty against defects. It is estimated that 3% of th
Dimas [21]

Answer:

the  amount that added to estimated liability is $1,330

Explanation:

The computation of the amount that added to estimated liability is as follows

= 800 units sold × 3% defective - five defective units

= 24 units - 5 units

= 19 units

Now the amount that should be added is

= 19 units × $70 per unit

= $1,330

Hence, the  amount that added to estimated liability is $1,330

The same is to be considered

7 0
3 years ago
What law created the federal reserve system?
S_A_V [24]
Federal reserve act D
4 0
3 years ago
Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in
jek_recluse [69]

Answer:

Brody Company

1. Direct Materials Used in Production:

Beginning balance, raw materials  $124,000

Raw materials purchase                  250,000

Raw materials for production        $374,000

less raw materials, ending balance 102,000

Cost of Direct materials used     $272,000

2. Total Prime Cost:

Cost of Direct materials used     $272,000

Direct labor                                     140,000

Total Prime Cost                         $412,000

3. Total Conversion Cost:

Direct labor $140,000

Factor overheads:

Depreciation on factory equipment 45,000

Depreciation on building 30,000

Factory insurance 15,000

Property Taxes $20,000

Utilities for factory 34,000

Indirect labor salaries 156,000

Total Conversion Cost = $440,000

4. Cost of Goods Manufactured Statement:

Prime Cost                               $412,000

Conversion cost                      $440,000

Beginning Work in Process      124,000

less ending work in process   (130,000)

Cost of goods manufactured $846,000

Unit Product Cost = $846,000/100,000 = $8.46

5. Cost of Goods Sold Statement:

Cost of goods manufactured $846,000

Beginning finished goods          84,000

less ending finished goods      (82,000)

Cost of goods sold               $848,000

6. Income Statement                                                %

Sales Revenue                               $1,200,000      100

Cost of goods sold                             848,000        71

Gross Profit                                     $352,000        29

Operating Expenses:

Depreciation on building $50,000                           4

Property Taxes                    18,000                           1.5

Sales Office Utilities              1,800                         0.15

Administrative salaries     150,000                         12.5

Sales office salaries           90,000                          7.5

Sales Commission             60,000                           5

Total Operating Expenses              $369,800        31

Net Loss                                            ($17,800)     14.83

Explanation:

Raw materials purchases $250,000

Direct labor 140,000

Depreciation on factory equipment 45,000

Depreciation on building 30,000

Depreciation on headquarters building 50,000

Factory insurance 15,000

Property taxes:

Factory 20,000 and Headquarters 18,000

Utilities for factory 34,000

Utilities for sales office 1,800

Administrative salaries 150,000

Indirect labor salaries 156,000

Sales office salaries 90,000

Beginning balance, raw materials 124,000

Beginning balance, work in process 124,000

Beginning balance, finished goods 84,000

Ending balance, raw materials 102,000

Ending balance, work in process 130,000

Ending balance, finished goods  82,000

b) Sales Commission = $60,000 (5% of $1,200,000)

c) Prime cost is the cost of direct raw materials and direct labor.  Conversion cost includes the cost of direct labor and factory overheads.

6 0
3 years ago
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processin
jekas [21]

Answer:

$142,524

Explanation:

The computation of the total cost assigned to the ending work in process

inventory is shown below:

As we know that

Total cost =  Material + Labor

where,  

Material = 21,400 units × 100% × $3.60 = $77,040

And,

Labor = 21,400 units ×  60% × $5.10 = 65,484

So, the total cost is $142,524

We simply added material and the labor cost according to their completion percentage and its cost per equivalent units

7 0
3 years ago
A firm that uses an international division structure sometimes experiences intra-organizational conflict because ________. Grupo
valkas [14]

Answer:

more resources and management attention tend to get channeled toward the international division than toward the domestic divisions

Explanation:

A firm that uses an international division structure sometimes experiences intra organizational conflict because MORE RESOURCES AND MANAGEMENT ATTENTION TEND TO GET CHANNELED TOWARD THE INTERNATIONAL DIVISION THAN TOWARD THE DOMESTIC DIVISIONS.

4 0
3 years ago
Read 2 more answers
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