Answer:
Cost of goods manufactured= $87100
Explanation
Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.
Generally accepted accounting principles require that the cost of goods sold shall consist of:
the cost of direct materials
the cost of direct labor
the cost of manufacturing overhead
Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. They are reported as expenses on the income statement in the accounting period in which they occur.
In this exercise:
<u>Cost of goods manufactured:</u>
Direct materials= $56,000
Direct Labor=$15,600
Factory overhead=Factory supervisor salary+ Depreciation expense+Indirect materials= 10,000 +3,700+1,800= $15,500
Total= $87100
Note: Salesperson commissions and Depreciation expense Delivery equipment are not included in factory overhead
Answer
a. Deposits
Explanation
A checking account is a bank account where members can withdraw and deposit money with ease of access. It is mostly used for bill payments and for making personal financial transactions .A checking account allows for check deposits and debit card transactions
The correct alternative is the letter D. Gallon of milk to use in a bowl of cereal, this being the product that is an example of a consumer good.
<h3 /><h3>What is a consumer good?</h3>
Corresponds to a product used by the final consumer, that is, individuals or families for the immediate satisfaction of a need, such as food, personal hygiene and cleaning products.
Therefore, an individual's income will always have a part destined for consumer goods, which are essential for their health and quality of life.
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The current value of a zero-coupon bond is $481.658412.
<h3>
What is a zero-coupon bond?</h3>
- A zero coupon bond (also known as a discount bond or deep discount bond) is one in which the face value is repaid at maturity.
- That definition assumes that money has a positive time value.
- It does not make periodic interest payments or has so-called coupons, hence the term zero coupon bond.
- When the bond matures, the investor receives the par (or face) value.
- Zero-coupon bonds include US Treasury bills, US savings bonds, long-term zero-coupon bonds, and any type of coupon bond that has had its coupons removed.
- The terms zero coupon and deep discount bonds are used interchangeably.
To find the current value of a zero-coupon bond:
First, divide 11 percent by 100 to get 0.11.
Second, add 1 to 0.11 to get 1.11.
Third, raise 1.11 to the seventh power to get 2.07616015.
Divide the face value of $1,000 by 1.2653 to find that the price to pay for the zero-coupon bond is $481.658412.
- $1,000/1.2653 = $481.658412
Therefore, the current value of a zero-coupon bond is $481.658412.
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Answer:
Dr Cash $92,811
Cr Notes Payables $92,811
(Being the proceeds and issuance of note
Explanation:
Annual rate = 12%
Interest for 9 months will be:
9/12 x 12% = 9%
So disbursal is 9% x $92,811
= $8,353
Principal (borrowed money) is $92,811.
The loan was disbursed on January 1. So it's only the proceeds from the loan which will be recorded on this date. Repayment will start at later date.
Therefore, The entry made by Guarantee Company on January 1 will be:
January 1
Dr Cash $92,811
Cr Notes Payables $92,811
(Being the proceeds and issuance of note)
