Choose all that apply.<br> Spreadsheets can be used to

Record the following process costing transactions in the general journal:

Ne4ueva [31]

Answer:

a.

Raw Materials $9,300 (debit)

Account Payable $9,300 (credit)

b.

Assembly Department $4,300 (debit)

Finishing Department $2,400 (debit)

Raw Materials $6,700 (credit)

c.

WIP Inventory-Assembly $10,500 (debit)

Cash $10,500 (credit)

d.

Overheads $12,100 (debit)

Property taxes-plant: Payable $1, 800 (credit)

Utilities-plant : Payable $4, 800 (credit)

Insurance-plant : Payable, $1, 700 (credit)

Provision for Depreciation-plant, $3, 800 (credit)

e.

Work In Process - Assembly Department $7,600 (debit)

Direct labor, $5, 000 (credit)

Manufacturing overhead, $2, 600 (credit)

f.

Work In Process - Finishing Department $11,300 (debit)

Direct labor, $4,700 (credit)

Manufacturing overhead, $6,600 (credit)

g.

Finishing Department, $10,500 (debit)

Assembly Department $10,500 (credit)

h.

Finished Goods Inventory $15,600 (debit)

Finishing Department $15,600 (credit)

Explanation:

Manufacturing costs accumulate in the Work In Process Account of their respective departments.

When goods are transferred out of the Assembly Department to the Finishing Department, de-recognize the cost from Assembly Department (credit) and recognized the cost in Finishing Department (debit).

When cost of goods completed are transferred out of the Finishing Department into Finished Goods Inventory, we de-recognize the cost from Finishing Department and recognize it in the Finished Goods Inventory.

5 0

3 years ago

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situatio

andrew11 [14]

Answer:

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situation in which a shortage led to increased prices. what eventually happened in each case? why?

In the course of having surplus of a product which decreases the price, this happens as a result of high competition as there many people selling the same products which in turns leads to crash in price in order to make sales and little profit.

while product shortage or scarcity happens as a result of decrease in resources or decrease in supply, hence; results into scarcity of products which eventually aids increment of price

Explanation:

3 0

3 years ago

Which of the following will require you to pay back any money you recieve

AlexFokin [52]

That's not a question, but the proper answer should be a loan.

6 0

3 years ago

Last year there was no change in either the raw materials or the work in process beginning and ending inventories. However, fini

dsp73

Answer:

d. $625,000

Explanation:

cost of goods available for sale = cost of goods manufactured during the current period + finished goods inventory at the beginning of the period

cost of goods manufactured during the current period = $600,000
finished goods inventory at the beginning of the period = $25,000

cost of goods available for sale = $600,000 + $25,000 = $625,000

cost of goods sold = cost of goods available for sale - ending inventory = $625,000 - $40,000 = $585,000

7 0

3 years ago

Can I have a short 150 words paragraph about following?

hichkok12 [17]

Answer:

Explanation:

GDP is used to measure the Economic welfare or standard of living in the people when it is measured per capital terms. The short coming with GDP is that it does not show the true economic welfare or standard living of people in the society as GDP is calculated as whole for whole population prevalipre in the country which includes all level of income people. In any country there will be rich , poor and middle class.

Using GDP for finding social welfare it tells whether the country standard of living is increasing or not but it will not tell specially abpab poor and middle class. Any country standard of living goes up only if the poverty in the country eradicate. Thus GDP have a short coming of not finding the true social welfare or standard of living which is in the society.

There is nothing we can do to find the exact condition of society but government can implement policies to provide a better living for people who are in poverty.

5 0

3 years ago

Choose all that apply. Spreadsheets can be used to