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Leya [2.2K]
2 years ago
8

A company uses process costing to assign product costs. Available inventory information for a period is as follows: Inventory (i

n units) Direct material cost Conversion cost Beginning 0 Started during the period 15,000 $75,000 $55,500 Transferred out 13,500 End of period 1,500 The ending inventory was 25% complete as to the conversion cost. 100% of direct material was added at the beginning of the process. What was the total cost transferred out
Business
1 answer:
Free_Kalibri [48]2 years ago
6 0

Answer:

i think its the answer for the lable of drake and jakie chan has a lot of money and mgk is not a good rapper

Explanation:

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Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price
Mashcka [7]

Answer:

d. $4,500

Explanation:

The computation of depreciation expense on the new equipment is shown below:-

For computing the depreciation expense on the new equipment first we need to find out the Depreciation per annum which is here below:-

Depreciation per annum = (Cost - Residual value) ÷ Life

= ($76,000 - $4,000) ÷ 8

= $72,000 ÷ 8

= $9,000

Depreciation for 1 year calendar (July 1 to Dec 31) = Depreciation per annum × 6 months ÷ Total number of months in a year

= $9,000 × 6 ÷ 12

= $4,500

So, the depreciation expenses for the year end up-to 31st Dec is $4,500

8 0
3 years ago
A photocopier cost $105,000 when new and has accumulated depreciation of $96,000. if the business discards this plant asset, the
Ahat [919]

A photocopier cost $105,000 when new and has accumulated depreciation of $96,000. if the business discards this plant asset, the result is a loss of 9,000.

During the asset's anticipated useful life, depreciation is allocated in order to charge a fair percentage of the depreciable amount in each accounting period. Amortization of assets with predetermined useful lives is included in depreciation. Depreciation enables businesses to recoup the cost of an item at the time of acquisition. Instead of collecting the full cost of an asset right away, the technique enables businesses to do so during the asset's lifecycle. This enables businesses to replace current assets with the necessary quantity of revenue in the future.

Subtract the asset's cost from its salvage value (what you anticipate it to be worth at the end of its useful life) to determine depreciation using the straight-line technique. The outcome is the amount or depreciable basis.

Depreciation = asset's cost - salvage value

Depreciation = $105,000 - $96,000

Depreciation = $9,000

To know more about Depreciation refer to:  brainly.com/question/15085226

#SPJ4

4 0
1 year ago
On november 1, 2018, the bagel factory signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued inter
Salsk061 [2.6K]

Answer:

A) debit interest expense, $1000

Explanation:

to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000

the journal entry should be:

December 31, 2018, accrued interest expense on note payable:

Dr Interest expense 1,000

    Cr Accrued interest payable 1,000

Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.

6 0
3 years ago
Larson Company on July 15 sells merchandise on account to Stuart Co. for $1,000, terms 2/10, n/30. On July 20 Stuart Co. returns
pickupchik [31]

Answer:

b. $588

Explanation:

Terms 2/10, n/30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

When Larson Company sold merchandise, the following entry was made to recording revenue (sales) and the receivable:

Debit Receivable Account $1,000

Credit Revenue $1,000

On July 20 Stuart Co. returns merchandise, the entry is made to record the decreasing of Receivable Account:

Debit Revenue $400

Credit Receivable Account $400

The balance Receivable Account of Stuart Co. = $1000-$400 = $600

On July 24, Stuart Co. makes the payment, the sales discount was:

$600 x 2% = $12

The amount of cash received = $600-$12=$588

The following entry is made:

Debit Cash: $588

Debit Sales discount: $12

Credit Receivable Account $600

7 0
3 years ago
A firm has an issue of $1,000 par value bonds with a 12 percent stated interest rate outstanding. The issue pays interest annual
Mamont248 [21]

Answer:

c

Explanation:

4 0
2 years ago
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