Answer:
Given that,
Jobs still in process = $20,000
Jobs completed but not sold = $60,000
Jobs finished and sold = $120,000
Marshall Enterprise's Factory Overhead account has a credit balance of $5,000
Therefore, the journal entry is as follows:
Factory overhead A/c Dr. $5,000
To Cost of goods sold A/c $5,000
(To record the cost of goods sold)
Answer:
they provide additional information about the visual
Answer:
$3,003
Explanation:
Interest expense = Effective interest for first interest period × Period of time covered by adjusting entry.
Therefore:
Interest expense = $9,009 × 2/6 = $3,003
The adjusting entry will record interest for the two-month period conservatively which includes January and February, Year 1 in which It will include a debit to Interest Expense in the amount of $3,003.
Hence,
Dr Interest Expenses $3,003
The amount of interest expense that should be accrued by Maverick in an adjusting entry dated February 28, Year 1 is
$3,003
Answer:
1) Outside Location
2) Central Location
The profit will be the same when monthly demand is 230 cars
Explanation:
Let central location be termed as location A
Let outside location be termed as location B
<u>1. Demand 200 cars</u>
Profit- Location A = (90-30) * 200 - 7000 = $5000
Profit- Location B = (90-40) * 200 - 4700 =$5300
<u>2. Demand 300 cars</u>
Profit- Location A = (90-30) * 300 - 7000 = $11000
Let x be the number of cars where profit is same,
we will equate both the profit equations
(90-30)*x - 7000 = (90-40)*x - 4700
60x - 7000 = 50x - 4700
60x - 50x = 7000 -4700
10x = 2300
x = 2300/10
x = 230 cars
Profit- Location B = (90-40) * 300 - 4700 =$10300
Answer:
$45,520
Explanation:
Given that
Sales budget = 3,600 units
Variable selling and administrative expense = $4.10
Fixed selling and administrative expenses = $35,860
Depreciation expenses = $5,100
The computation of selling and administrative expenses is shown below:-
= Variable selling and administrative expenses + (Fixed selling and administrative expenses - Depreciation expenses)
= (3,600 unit × $4.10) + ($35,860 - $5,100)
= $14,760 + $30,760
= $45,520
