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Nadya [2.5K]
3 years ago
9

During the period, labor costs incurred on account amounted to $175,000, including $150,000 for production orders and $25,000 fo

r general factory use. Factory overhead applied to production was $32,000. The entry to record the actual factory overhead costs incurred is a. Factory Overhead32,000 Accounts Payable32,000 b. Accounts Payable25,000 Factory Overhead25,000 c. Work in Process25,000 Wages Payable25,000 d. Factory Overhead25,000 Wages Payable25,000
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer:

Correct option is D

Explanation:

Factory Overhead         $25,000  

Wages Payable  $25,000

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Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs
vova2212 [387]

Answer:

Explanation:

a.

Direct Material cost per unit = Cost of Direct materials/ units produced = $3400/17000 mugs = $0.20 per mug

Direct material used per mug = 0.40 pounds

Direct material cost per pound = $0.20 / 0.40 = $0.50 per round

Direct material inventory = 3400 * $0.50 = $1700

b. Compute the finished goods ending inventory in units on December 31, year 1.

Finished Goods inventory (in units) = Finished goods inventory / manufacturing cost per unit

Manufacturing cost per unit = (Direct material + Direct Labour + Indirect manufacturing cost)/Units Produced

= ($3400+$25280+$1140+$4180)/17000 = $2 per unit

Finished Goods inventory (in unit) :

Year 1 = $6,000/$2 = 3000 units

c. Compute the selling price per unit.

Selling price per unit = Revenues / units sold

Units sold = Units produced - units in the ending finished goods inventory = 17000-3000 = 14000

Selling price per unit = $52,500/14000 = $3.75

d.Compute the operating profit (loss) for year 1

Operating income for the year :

Revenues  $52,500

Cost of goods sold (14000*$2)  (28000 )

-----------------------------------------------------------------

Gross Margin                          $24,500

Less marketing and administrative cost:  

Variable cost ($2,350)  

Fixed cost ($11,800)

-----------------------------------------

                                                  ($14,150)

Operating Profit  $10,350

7 0
3 years ago
What is the effect of a government budget deficit on the real interest rate and investment? a government budget deficit _______
Maurinko [17]

The government budget deficit does not influence the real interest rate. The real interest rate is 9 percent a year.

<h3>What do mean by government budget?</h3>

A government budget is a document created by the government and/or another political institution that details proposed spending and tax revenue estimates for the upcoming fiscal year. The budget is typically presented to the legislature in parliamentary systems, and it frequently needs their approval.

A government budget is a document that details the anticipated income and expenditures for a given fiscal year for a given governing body. Government spending plans frequently need legislative approval and are vulnerable to political pressure from interest groups vying for funding.

Learn more about  government budget here

brainly.com/question/8859561

#SPJ1

8 0
2 years ago
Coffee Corporation has 2,000 shares of common stock outstanding. John owns 700 of the shares, John’s grandfather owns 100 shares
nekit [7.7K]

Answer:

1,000 shares

Explanation:

The 318 attribution rule states that stock owned directly or indirectly by a partnership is considered to be owned by any partner that owns 5% or more in the business.

This is relevant to family owned businesses and is a way to mark out principal owners of a business in order to avoid tax evasion and fraud.

In this scenario John directly owns 700 of the outstanding shares. But according to the 318 attribution rule, since he he is a 50% partner he owns half of the outstanding 2,000 shares. That is 1,000 shares.

7 0
3 years ago
International business differs from domestic business in that a firm operating across borders must deal with: Group of answer ch
Novosadov [1.4K]

Answer: A firm operating across borders must deal with both foreign and international environment. Options A and B

Explanation:

International Business is a kind of business between two or more countries, that involves the trade of products and services across national borders or on a global level.

An example is the oil industry in which oil is produced by one country and sold to another. Both countries deal with both Foreign and International environments.

5 0
3 years ago
Define and explain each concept and give specific examples: a. Marginal Propensity to Consume and Marginal Propensity to Save (
siniylev [52]

Answer:

The marginal propensity to save (MPS) is the portion of each extra dollar of a household's income that's saved. MPC is the portion of each extra dollar of a household's income that is consumed or spent. Consumer behavior concerning saving or spending has a very significant impact on the economy as a whole.

Multiplier Effect

for every dollar the government spends, it will create a greater than one dollar change in GDP

Spending Multiplier

1 / 1-MPC or 1 / MPS; increase in spending .: + multiplier; decrease in spending .: - multiplier

Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit.

Crowding out in businesses an economic concept that describes a situation where personal consumption of goods and services and investments by business are reduced because of increases in government spending and deficit financing sucking up available financial resources and raising interest rates.

Explanation: Marginal Propensity to Consume

the fraction of any change in disposable income that is consumed; MPC = change in C / change in DI

Marginal Propensity to Save

the fraction of any change in disposable income that is saved; MPS = change is S / change in DI

3 0
3 years ago
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