Answer:
Option (D) is correct.
Explanation:
Given that,
Beginning work in process = $4,000
Ending work in process in finishing department = $6,000
Cost transferred = $47,000
Direct material = $15,000
Direct labor = $46,000
Overhead = $22,000
Cost incurred in finishing department:
= Beginning work in process + Cost transferred + Direct material + Direct labor + Overhead
= $4,000 + $47,000 + $15,000 + $46,000 + $22,000
= $134,000
Cost of goods transferred to the Finished Goods Inventory account:
= Cost incurred in finishing - Ending work in process
= $134,000 - $6,000
= $128,000
Answer:
Journal entries to record the expenses incurred are given below.
Debit Factory Overhead Control Account $ 1300
Credit Utilities bills account $ 700
Credit Accumlated factory depreciation $ 400
Credit property tax payable $ 200
Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.
Debit WiP process account $ 525
Credit Factory overhead applied account $ 525
(1.5 * 350 (machine hours))
B. A number of joins used in report query.
C. A number of records returned by report query.
Explanation:
A report on the results of something is a survey. These are generated annually by government bodies that have to prove that the money was spent correctly and accurately, funded by public money.
Such reports should include metrics of success that assess the organization's accomplishments and its services. The statistics that, for instance, show the number of arrests, number of convictions by category of crime and the increase in crime rates for a police department.
Answer:
The journal entry to record the issuance of bond is shown as:
Dr Bank $783,845
Cr Bonds payable $700000
Cr Bonds premium $83845
Being issuance of bonds for cash
Subsequently,coupon interest is calculated is on the par value of $700000 at 11% while effective interest of 8% is calculated on $783,845
Explanation:
Upon issuance of the bonds,the receipt of cash of $783,845 is debited to bank account as an increase in asset.
The obligation to redeem the bond on 1 January 2025 is credited to bonds payable at par value of $700000(an increase in liability)
However, cash received is more by $83,845 which is credited to bonds premium account.
Answer:
d. $100,000
Explanation:
<u><em>Ronaldo Soccer Shop</em></u>
<u><em>Income Statement</em></u>
Sales $100,000;
Cost of goods sold $46,000,
Operating expenses $34,000,
Interest expense $15,000,
Income tax expense $2,000,
Net Income $3,000
The vertical analysis of the income statement is performed by dividing each of these income statement line items by the total sales.
Vertical Analysis ( income Statement) = (Income Statement Item/ Total Sales )* 100
