Answer:
Retained Earning (Dr.) $295,000
Stock Dividend Payable (Cr.) $295,000
To record stock dividend
Retained Earnings (Dr.) $157,800
Cash (Dr.) $157,800
To record cash dividend
Explanation:
Statement of Shareholder's Equity
Retained Earnings Beginning Jan 21 $1,275,000
Net Income $2,250,000
Cash Dividend $157,800
Stock Dividend $295,000
Retained Earning Ending $3,072,200
Answer:
cost of goods manufactured= $653,500
Explanation:
Giving the following information:
Consider Derek's budget information: materials to be used totals $65,100; direct labor totals $198,700; factory overhead totals $393,700; work in process inventory January 1, $188,500; and work in progress inventory on December 31, $192,500.
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 188,500 + 65,100 + 198,700 + 393,700 - 192,500= $653,500
It is very important to pay attention to these notes because, it is the notes that will indicate when the use of the combination code is appropriate and it will also point out the codes that are combined into one combination code.
- The correct form to fill the blanks of the following independent cases is:
<u>Case Revenues variable Fixed Total operating contribution </u>
<u> cost cost cost income margin Contribution</u>
a 2400 600 200 800 1600 75% 1800
b 2500 1400 200 1600 900 44% 1100
c 500 300 200 500 0 40% 200
d 1200 900 200 1100 100 25% 300
The below formulas should be used:
-
Contribution = Revenues - variable cost.
- Contribution margin = contribution ÷ revenue.
- Operating income = Revenue - total cost
- Total cost = fixed cost + variable cost
