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3 years ago

For financial accounting purposes, what is the total amount of product costs incurred to make 24,500 units

Business

1 answer:

Anna71 [15]3 years ago

7 0

Answer:

The product cost for 24,500 units is $497,350.

Explanation:

The reason is that the the product cost always includes all the variable production cost and specific fixed production cost. In this scenario, direct material cost, direct labor cost, variable manufacturing overhead cost are variable production cost whereas the fixed manufacturing cost is specific fixed production cost which will form part of product cost. The remainder of the cost left is period cost.

Direct materials (24,500 * $7.7 per unit) $188,650

Direct labor (24,500 * $4.7 per unit) $115,150

Variable manufacturing overhead (24,500 * $2.2 per unit) $53,900

Fixed manufacturing overhead (24,500 * $5.7 per unit) $139,650

Total product costs $497,350

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Bringham Company issues bonds with a par value of $540,000 on their stated issue date. The bonds mature in 6 years and pay 9% an

Vladimir [108]

Answer:

1. $24,300

2. 12

3. the bond is trading at a discount.

4. $470,090.86

5. Journal Entry

Cash $470,090.86 (debit)

Bond Payable $470,090.86 (credit)

Explanation:

1. seml-annual Interest payment

Seml-annual Interest payment = ($540,000 × 9 %) ÷ 2

= $24,300

2. Number of seml-annual Interest payment

Number of seml-annual Interest payment = 6 years × 2

= 12

3. Issue

The annual market rate for the bonds (YTM) , 12% is greater than the coupon rate of the bond 9%.

The Price will be less than the par value and we say that the bond is trading at a discount.

4. Computation of the Issue Price, PV

PMT = $24,300

n = 12

YTM = 12 %

FV = $540,000

p/yr = 2

PV = ?

Using a Financial Calculator, the Issue Price, PV is $470,090.86

5. Journal Entry

Cash $470,090.86 (debit)

Bond Payable $470,090.86 (credit)

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3 years ago

Meeting the spending targets in this budget meant some very difficult choices. —president barack obama, 2012 budget message of t

Ostrovityanka [42]

The meaning of making "difficult choices" when creating a federal budget is: D. deciding what will be funded and what will be cut.

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This ultimately implies that, making "difficult choices" when creating a federal budget simply means to decide what will be funded by the government and what will be cut from the budget.

Read more on budget here: brainly.com/question/13964173

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2 years ago

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Explanation:

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if an interest inventory reveals that you are highly interested in solitary, introverted work, what might be the best type of ca

Softa [21]

In my opinion, venturing into world of Arts could be a favorable path for a person highly interested in solitary, introverted work. Visual arts such as painting and photography (nature, macro-shoots, etc) could be better choices. Literature might interest you too. The art of words would allow you to express yourself without talking to animate objects. One could pick a pen or stare at his or her computer when indulging oneself in the ARTS.

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3 years ago

Which of the following is considered to be an accrued expense?

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Answer:

B. a computer technician has installed the latest software updates, but you have not received an invoice or made payment

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