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nikdorinn [45]
3 years ago
12

During the current month, a company that uses job order costing purchases $52,000 in raw materials for cash. It then uses $22,00

0 of raw materials indirectly as factory supplies and uses $20,100 of raw materials as direct materials. Prepare journal entries to record these three transactions
Business
1 answer:
bulgar [2K]3 years ago
3 0

Answer:

          Account Title                                                           Debit             Credit

           Raw materials inventory                                      $52,000

           Cash                                                                                            $52,000

         Account Title                                                           Debit             Credit

         Factory Supplies                                                 $22,000

         Raw materials                                                                             $22,000

        Account Title                                                           Debit             Credit

        Work in Process inventory                                  $20,100

        Raw materials                                                                              $20,100

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Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
aleksandrvk [35]

Answer:

540,000 units

Explanation:

Budgeted Production Units:

= Budgeted Sale Units +  Ending Inventory of Finished Goods - Beginning Inventory of Finished Goods

= 570,000 units + 68,000 units - 98,000 units

= 540,000 units

Therefore, the number of units Paradise Corporation would have to manufacture during the year would be 540,000 Units.

6 0
3 years ago
As an alternatives to FDI, firms could choose ______, which involves producing goods at home and shipping them overseas, or ____
Vladimir79 [104]

Answer:

As an alternatives to FDI, firms could choose <u>EXPORTING</u>, which involves producing goods at home and shipping them overseas, or <u>LICENSING</u>, which is granting a foreign firm the right to produce and sell a product in return for a royalty fee.

Explanation:

To export a good (or service) means to sell a domestically produced good to other foreign countries. Traditionally basically only goods were exported, but lately there has been a surge of service exports, e.g. outsourcing customer services to India.

Licensing a product or service refers to a licensor giving permission to produce a product or service and sell it within a given market, usually foreign market. The licensor charges royalties to the licensee in exchange for that permission.

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A. true.
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You just went into the cookie business. To determine a price for your cookies, you calculate your _____.
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Figuring out  the cost of overhead items such as labor and material used in the production of your cookies will help you determine a more exact direct cost per <span>cookie. </span>
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