Answer:
4. debit supplies expense, $3,500; credit supplies, $3,500.
Explanation:
Assuming there is no opening inventory of supplies. So the purchases mad is the only inventory which is in stock during the Month of June. Stock has been used during the month and at the end of the month it remains only $3,000.
Using following Formula we will calculate the supplies Expense.
Ending Inventory of supplies = Opening Inventory of supplies + Purchases - supplies Expensed in the period
$3,000 = $0+ $6,500 - Supplies Expensed in the period
$3,000 = $6,500 - Supplies Expensed in the period
$6,500 - $3,000 = Supplies Expensed in the period
Supplies Expensed in the period = $3,500
So, the entry will be
Debit supplies expense $3,500
Credit supplies $3,500
<span>What group is responsible for stepping in to prevent a bank run is</span>banking regulators like the Fed.
I hope this helps!
Based on the fact that Megan arranged the machines according to their functions, this is A. Process layout.
<h3>What is a process layout?</h3>
This is a way of arranging a shop or factory where machines and equipment are arranged according to their function.
Megan arranged her machines according to how they function so that she can be able to move from one station to another. This is therefore a process layout.
Find out more on process layouts at brainly.com/question/14409617.
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Answer:
cost of goods manufactured= $144,000
Explanation:
Giving the following information:
Cost of direct materials used in production $48,000
Direct labor 59,000
Factory overhead 37,000
Work in process inventory, April 1 40,000
Work in process inventory, April 30 40,000
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 40,000 + 48,000 + 59,000 + 37,000 - 40,000
cost of goods manufactured= $144,000
Answer:
C. a year chosen as a reference for prices in all other years.
Explanation:
Base year in the consumer price index (CPI) is a year chosen as a reference for prices in all other years.
Consumer Price Index (CPI) is a measure that is used to determine the weighted average of prices of a quantity of consumer goods and services.
Changes in the consumer price index helps to determine price changes associated with the cost of living. The consumer price index is one of the most frequently used statistics for identifying periods of inflation or deflation in an economy.
The formula used to calculate consumer price index for a product
= cost of purchasing the product in the given year ÷ cost of purchasing the product in the base year ×100
The base year or period refers to reference point in time iseda for comparison with other years or periods. It is used to measure financial and economic data.
period is a point in time used as a reference point for comparison with other periods. It is generally used as a benchmark for measuring financial or economic data.
