Answer:
(A) June 4
Inventory debit 1,065
Accounts Payable credit 1,065
(B) June 15
Inventory debit 1,550
Cash credit 1,550
(C) June 30
Accounts Payable debit 1,065
Cash credit 1,065
Explanation:
(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. <u>No discount is recorded</u>
(B) Simple: increase the inventory receive and decrease cash by the amount paid.
(C) We settle the account payable for the nominal of the purchase.
It wasn't within the discount period. So <u>no discount is granted.</u>
A. falls is the best option
Answer:
The budgeted materials needed in units for April = 67000 litres
Explanation:
The budgeted production for April = 68000 units
The budgeted production for may = 64000 units
The cost of raw material per unit = $1.70 per unit
It is given that at the end of each month the inventory should be = 25%
The April 1 inventory = 17000 units
Now calculate the material required for April production:![= [ Materials needed + ending inventory requirements - beginning inventory available ]](https://tex.z-dn.net/?f=%3D%20%5B%20Materials%20needed%20%2B%20ending%20inventory%20requirements%20-%20beginning%20inventory%20available%20%5D)
![= [ 68000 + (64000 × 25%) – 17000 ] = 67000 Litres](https://tex.z-dn.net/?f=%3D%20%5B%2068000%20%2B%20%2864000%20%C3%97%2025%25%29%20%E2%80%93%2017000%20%5D%20%3D%2067000%20Litres)
Therefore, the budgeted materials needed in units for April = 67000 litres
Answer:
c. There is a direct relationship between a good’s price and the amount offered for sale by suppliers.
Explanation:
According to the law of supply concept, it shows a direct relationship between the price and the quantity supplied.
As the price is rising, the quantity supplied also increases and if the rice is declining, the quantity supplied is also decreases
Since the supply curve slopes upward in the right direction which reflects the direct relationship between the price and the quantity supplied.
The option that will be best in this scenario would be a <span>Parallel test.
In a parallel test, same input will be entered in two different version of simulation. By doing this, we could create multiple simulations to test several possibilities and reducing the total time needed at the same time. The downside is that this test exposes the tester to a high risk of making a mistake.</span>
