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faust18 [17]
2 years ago
11

When spoiled goods have a disposal​ value, the net cost of the spoilage is computed by​ ________. A. adding the costs to complet

e a saleable product to the costs accumulated to the inspection point B. adding disposal value to the costs of the good units transferred C. deducting disposal value from the costs of the spoiled goods accumulated to the inspection point D. deducting the costs to complete a saleable product from the costs accumulated to the inspection point
Business
1 answer:
madam [21]2 years ago
3 0

The net cost of the spoilage is computed by  adding the costs to complete a

saleable product to the costs accumulated to the inspection point.

The net cost of spoilage involves summing up the disposable value of the

product to the costs accumulated to inspection point.

The cost of spoilage also refers to the costs accrued as a result of wastage

or loss during manufacturing.

Read more on brainly.com/question/25393278

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The following transactions are for Kingbird Company.
Llana [10]

Answer:

a. The journal entries to record the transactions woule be the following:

To record the sales

3 dec                            Debit             Credit

Account receivables $473,800

Sales                                                 $473,800

To record the cost of goods sold

cost of goods sold      $320,000

Merchandise Inventory                    $320,000

To record the allowance

8 dec                                          Debit             Credit

Sales return and allowance    $22,800

Accounts receivable                                       $22,800

To record the cash received from the customer

13 dec                                          Debit             Credit

Cash                                         $446,490

Sales discount                         $4,510

Accounts receivable                                       $451,000

Explanation:

a. The journal entries to record the transactions woule be the following:

First we have to prepare the journal entry to record the sales and cost of goods sold according to the given data:

To record the sales

3 dec                            Debit             Credit

Account receivables $473,800

Sales                                                 $473,800

To record the cost of goods sold

cost of goods sold      $320,000

Merchandise Inventory                    $320,000

Next we have to Prepare the journal entry to record the allowance as follows:

To record the allowance

8 dec                                          Debit             Credit

Sales return and allowance    $22,800

Accounts receivable                                       $22,800

Finally we have to Prepare the journal entry to record the cash received from the customer as follows:

To record the cash received from the customer

13 dec                                          Debit             Credit

Cash                                         $446,490

Sales discount                         $4,510

Accounts receivable                                       $451,000

Cash=$451,000-$4,510=$446,490

Sales discount=$451,000*1%=$4,510

Accounts receivable=$473,800-  $22,800=$451,000

5 0
3 years ago
Matching is:________.
Kay [80]

Answer:

A. It is a valuation method.

Explanation:

The matching principle is used to assign same costs with the same revenues. For example the inventory bought to make the product would be assigned like wise to assure the guideline of matching principle.

It is a valuation method.

It is used to evaluate the accounting procedures.

For example let us assume that we are selling candies. But the advertisement is run once the candies have been manufactured and sealed. So the matching principle states that the advertisement expenses to be included in the income statement having the corresponding stock of candies manufactured and sold.

5 0
3 years ago
Calip Corporation, a merchandising company, reported the following results for October: Sales $427,000 Cost of goods sold (all v
nekit [7.7K]

Answer: $222,800

Explanation:

Given that,

Sales = $427,000

Cost of goods sold (all variable) = $173,400

Total variable selling expense = $21,200

Total fixed selling expense = $18,900

Total variable administrative expense = $9,600

Total fixed administrative expense = $36,300

Variable expenses:

= Cost of goods sold + Variable selling expense + Variable administrative expense

= $173,400 + $21,200 + $9,600

= $204,200

Contribution margin = Sales - Variable expenses

                                  = $427,000 - $204,200  

                                 = $222,800

5 0
3 years ago
Pete is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he
andreev551 [17]

Answer:

GDP is not affected by Pete's production of the jewelry box.

Explanation:

Pete is a woodworker and works 20 hours to prepare a jewelry box to gift his wife. If Pete prepares this jewelry box to sell and earn revenue, this will be considered in GDP but in this case Pete prepares a jewelry box to give his wife as his wife's birthday gift.

All types of gifts received or given in kind are not included in Gross Domestic Production.

6 0
3 years ago
Information technology has been used to improve both internaland external access and sharing of information. Three main kinds of
Mashcka [7]

Answer:

1. Executive Information System (EIS).

2. Corporate Portal.

3. Intranet.

Explanation:

Information technology (IT) can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.

An information technology (IT) interacts with its environment by receiving data in its raw forms and information in a usable format.

Information technology (IT) has significantly helped to improve both internal and external access and sharing of information between two or more business firms and individuals. Basically, there are three (3) main kinds of information technology (IT) which allow informations to be accessed and shared internally among employees; executive information systems (EIS), intranets, and portals.

1. Executive Information System (EIS): it assist managers working in an organization to monitor and analyze organizational performance. An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.

2. Corporate Portal: it's a hybrid system that uses a web address (uniform resource locator-URL) to give employees access to customized information and specialized transactions with respect to an organization.

3. Intranet: it's an internal company network which is private and provides employees with easy access to information.

8 0
2 years ago
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