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3 years ago

The cash records of Crane Company show the following. For July:

Business

1 answer:

ad-work [718]3 years ago

6 0

Answer:

A. $3,560

B. $3,430

C. $4,120

D. $3,730

Explanation:

A. Calculation for the deposits in transit at July 31

July 1 Deposit in transit=$18,550 - ($15,720 - $730)

July 1 Deposit in transit=$18,550-$14,990

July 1 Deposit in transit= $3,560

Therefore the deposits in transit at July 31 were $3,560

B. Calculation for the outstanding checks at July 31

July 31 Outstanding checks=$18,540 - ($16,020 - $910)

July 31 Outstanding checks=$18,540-$15,110

July 31 Outstanding checks= $3,430

Therefore the outstanding checks at July 31 were $3,430

C. Calculation for the deposits in transit at August 31

August 31 Deposits in transit=$27,280 - $26,010 + $2,850

August 31 Deposits in transit= $4,120

Therefore the deposits in transit at August 31 were $4,120

D. Calculation for the outstanding checks at August 31

August 31 Outstanding checks=$24,460 - $23,110 + $2,380

August 31 Outstanding checks= $3,730

Therefore the outstanding checks at August 31 were $3,730

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See below

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Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purc

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Answer:

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Moving Average= $ 606

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Explanation:

Purchases

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July 1 13 $115

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July 21 7 $132

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Moving Average Method

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= 1495+ 732+ 924/26= 3151/26= 121. 192

No of units in the Ending Inventory= 5 * 121.192= $ 605.96

Purchases

Date Units Unit Cost Sales Units Lifo Inventory

July 1 13 $115

July 6 9

4 $115 $460

July 11 6 $122

July 14 6

4 $115 $460

July 21 7 $132

July 27 6

1 132 $132

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Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the foll

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Answer:

Instructions are listed below

Explanation:

Giving the following information:

The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level.

Mountain has recorded the following for the past nine months:

January:

Number of Cavities= 375

Total cost= $5,300

February:

Number of Cavities 500

TC= 5,850

March

Number of Cavities 350

TC= 5,200

April

Number of Cavities 600

TC=6,250

May

Number of Cavities 325

TC= 5,150

June

Number of Cavities 475

TC= 5,700

July

Number of Cavities 525

TC= 6,100

August

Number of Cavities 575

TC= 6,300

September

Number of Cavities 450

TC= 5,550

A) Variable cost= (Highest activity cost - lowest activity cost) / (Highest activity units - lowest activity units)

Variable cost= (6300 - 5150) / (600 - 325)= 4.18 per unit

Fixed cost= HACost - (variable cost per unit * HAUnits)= 6300 - (4.18*600)= 3792

Fixed cost= LACost - (variable cost per unit* LAUnits)= 5150 - (4.18*325)= 3792

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Total cost= 3792 + 4.18*400= $5464

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