I think i read the question right. I think they would be out $198
Answer:
B. 15,000 and 12,000
Explanation:
The computation of the equivalent units of production is given below;
For direct material
= 20,000 units × 75%
= 15,000 units
For conversion cost
= 20,000 × 60%
= 12,000 units
Hence, the option b is correct
So, the same should be considered
Answer:
Feb 6
Dr Account receivable $97,000
Cr Sales revenue $97,000
Jul 1
Dr Notes receivable $18,000
Cr Cash $18,000
Dec 31
Dr Interest receivable $630
Cr Interest revenue $630
July 1
Dr Cash $19,260
Cr Notes receivable $18,000
Cr Interest receivable $630
Cr Interest revenue $630
(To record collection)
Explanation:
Preparation of the journal entries
Feb 6
Dr Account receivable $97,000
Cr Sales revenue $97,000
(To credit sales)
Jul 1
Dr Notes receivable $18,000
Cr Cash $18,000
(To record loan given)
Dec 31
Dr Interest receivable ($18000*7%*6/12) $630
Cr Interest revenue $630
(To record accrued interest)
July 1
Dr Cash $19,260
($18,000+$630+630)
Cr Notes receivable $18,000
Cr Interest receivable $630
Cr Interest revenue $630
(To record collection)
What are the recommended jobs?
Answer
The answer and procedures of the exercise are attached in the following images.
Explanation
Please consider the information provided by you in the exercise. If you have any question please write me back. Please take a look to the image attached.