Answer:
a and c
Explanation:
did it on edge 2020
Answer:
A and C! edge 2020!
Explanation:
Oct. 31 A check was written to reimburse the fund and increase the fund to $196.00.
A count of the petty cash fund disclosed the following items:
Currency $59.00
Coins 2.07
Expenditure receipts (vouchers):
Supplies $24.73
Miscellaneous items 15.03
Postage 38.33
Freight-Out 5.43
Journalize the entries in october that pertain to the petty cash fund.
Explanation:
The journal entries are shown below:
1. Petty cash A/c $146
To Cash A/c $146
(Being the petty cash fund is established)
2. Office supplies A/c Dr $4.73
Miscellaneous items $15.03
Postage $38.33
Freight-Out $5.43
Cash short and over A/c $21.41 (Balancing figure)
Petty cash A/c $50 ($196 - $146)
To Cash $134.93 ($196 - $59 - $2.07)
(Being the expenses are recorded)
Direct materials $2.04 $2,103,240
Direct labor 0.40 412,400
Variable manufacturing overhead 1.04 1,072,240
Fixed manufacturing overhead 1.44 1,484,640
Variable selling expenses 0.34 350,540
Totals $5.26 $5,423,060
The U.S. Army has approached Klean Fiber and expressed an interest in purchasing 250,500 Y-Go undergarments for soldiers in extremely warm climates. The Army would pay the unit cost for direct materials, direct labor, and variable manufacturing overhead costs. In addition, the Army has agreed to pay an additional $1.02 per undergarment to cover all other costs and provide a profit. Presently, Klean Fiber is operating at 70% capacity and does not have any other potential buyers for Y-Go. If Klean Fiber accepts the Army's offer, it will not incur any variable selling expenses related to this order.
Required:
Prepare an incremental analysis for the Klean Fiber.
Answer:
Klean Fiber Company
Incremental Analysis for the Special order of 250,500 units of Y-Go undergarments:
Direct materials $2.04 $511,020
Direct labor 0.40 100,200
Variable manufacturing overhead 1.04 260,520
Fixed manufacturing overhead 1.02 255,510
Total costs $4.50 $1,127,250
Fixed manufacturing overhead 1.02 255,510
Incremental costs $3.48 $871,740
Explanation:
a) Data:
Full Capacity = 1,031,000
The per unit and the total costs at full capacity for Y-Go:
Per Undergarment Total
Direct materials $2.04 $2,103,240
Direct labor 0.40 412,400
Variable manufacturing overhead 1.04 1,072,240
Fixed manufacturing overhead 1.44 1,484,640
Variable selling expenses 0.34 350,540
Totals $5.26 $5,423,060
b: In her decision to accept or reject the special order for 250,500 units of Y-Go undergarments by the U.S. Army, the Klean Fiber Company will only consider the relevant incremental unit cost of $3.48 and not the whole unit cost of $5.26. The $3.48 cost excludes the fixed overheads or the selling and administrative expenses.
Answer: $0.60
Price per loaf: $2
Discount given for its bread at the end of the day= 70%
Solution:
Salvage value is the estimated resale value of a product at the end of its useful life. Since theuseful life of the loaf is 1 day and it was sold at the end of the day at 70%off, the salvage value is
$2 × (1 - 70%)
$0.60.
The salvage value of the bread from Bakery A at the end of the day, following a 70% discount, is $0.10 per loaf. This is calculated by subtracting the cost to make the bread ($0.50) from the discounted selling price ($0.60).
The salvage value of the bread from Bakery A can be calculated by subtracting the cost of production from the discounted selling price. The initial selling price of the bread is $2.00, and the cost to make a loaf is $0.50. However, at the end of the day, Bakery A gives a 70% discount on its bread. So, the discounted selling price is now 30% of the initial price, which is $2.00 * 0.30 = $0.60.
Given that the cost to make the bread is $0.50, the salvage value of the bread is the discounted selling price of $0.60 minus the cost to make the bread which is $0.50. So, the salvage value is $0.60 - $0.50 = $0.10.
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Answer:
It is better to buy an energy efficient model for $ 1700.
Explanation:
It is better to buy an energy efficient model for $ 1700 because at the end of five years its costs will be less than $ 1500. It saves $ 45 each year and that would save $ 45*5 = $ 225 at the end of five years. That would result in low costs as $ 1700- $ 225= $ 1475 which is less than $ 1500.
Buying $1500 is not a smart choice because then it would add up to expenses . Expenses for $ 45 each year would result in $225 in five years that would add up to be $ 1725 which is higher than $ 1700.
Answer:
The present value of security is $2300
Explanation:
The value or price of the perpetuity today is calculated by dividing the constant cash flow it provides per period by the interest rate or the rate of return (r). Thus the price of this perpetuity according to the formula will be,
Value of perpetuity = Cash flow / r
Value of perpetuity = 115 / 0.05
Value of perpetuity = $2300
Answer:
The expected January 31 Accounts Payable balance is $6,590
Explanation:
The December Accounts Payable balance is $7,900 - this is the 50% purchase amount in December and will be paid in January.
In January, Fortune Company will pay 50% purchase amount in December and 50% purchase amount in January.
Expected payment = $7,900 + 50% x $13,180 = $14,490
At January 31, the expected Accounts Payable balance:
$13,180 x 50% = $6,590
The expected Accounts Payable balance for Fortune Company at the end of January is $10,540, taking into account the payables carried over from December and half of January's purchases.
The question is regarding the calculation of the expected Accounts Payable balance at the end of January for Fortune Company. The company's payment schedule shows a split of 50% payment in the month of purchase and 50% in the following month. To compute the January 31 Accounts Payable, we need to consider the December Accounts Payable which is to be paid in January (50% of $7,900 = $3,950), and half of January's purchase ($13,180) which will amount to $6,590. Hence the expected January 31 Accounts Payable is: $3,950 (December's payable) + $6,590 (January's payable) = $10,540.
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