Answer: All of the above
Explanation:
The Sherman Antitrust Act outlawed trusts. These are the groups of businesses that fine together to form a monopoly so that they can dictate price.
The purpose of the Act's was firctgr promotion of economic fairness and competitiveness. The Sherman Anti-Trust Act does not prohibit a manufacturer from having a natural monopoly over its own product.
Also, it doesn't prohibit a seller to dominate a market because of superior product or business a manufacturer to sell only through a particular distributor.
Therefore, the correct option is "All of the above".
Answer:
135,000 transferred out under Weighted average method
Explanation:
W/A method:
equivalent units materials 10,000 + 2,000 = 12,000 units at 100%
material cost: 690,000 + 30,000 = 720,000
720,000 / 12,000 = 60
equivalent units conversion 10,000 + 500 = 10,500
conversion cost 22,500 + 765,000 = 787,500
787,500 / 10,500 = 75
75 + 60 = 135 cost per unit
10,000 x 135 = 135,000 transferred out
Answer: 125%
Explanation:
Manufacturing overhead = Predetermined overhead rate * Direct labor
Manufacturing Overhead
= Work in process balance - Direct labor - Direct materials
= 3,960 - 640 - 440 - 540 - 740
= $1,600
The rationale behind the above is that that the Work in process account is made up of Direct labor, material and overhead. The Overhead would therefore be the balance less the Direct material and labor.
Direct Labor = 540 + 740
= $1,280
Manufacturing overhead = Predetermined overhead rate * Direct labor
1,600 = Predetermined overhead rate * 1,280
Predetermined overhead rate = 1,600/1,280
= 1.25
= 125%
2. Issued $1,050 of supplies from the materials inventory.
3. Purchased $25,100 of materials on account.
4. Paid for the materials purchased in the transaction (1) using cash.
5. Issued $30,100 in direct materials to the production department.
6. Incurred direct labor costs of $25,500, which were credited to Wages Payable.
7. Paid $21,600 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop.
8. Applied overhead on the basis of 110 percent of direct labor costs.
9. Recognized depreciation on manufacturing property, plant, and equipment of $5,100.
The following balances appeared in the accounts of Sunset
Products for March:
Beginning Ending
Materials Inventory $9,150 _____
Work-in-Process Inventory $16,600 _____
Finished Goods Inventory $65,100 $36,600
cost of goods sold $73,100
Prepare T-Accounts to show the flow of costs during the period from materials inventory through the cost of goods sold.
Sunset products
Journal entry
1. Dr Material 20500
Cr Account payable 20500
(Material purchased on account)
2. Dr work in process 1050
Cr Material 1050
(material issued)
3. Dr Material 25100
Cr Accounts payable 25100
( Material purchased on account )
4. Dr Accounts payable 20500
Cr Cash 20500
(Paid for material purchased on account)
5. Dr Work in process 30100
Cr Material 30100
( Direct material issued to production department)
6. Dr Work in process 25500
Cr Wages payable 25500
( Direct labor cost incurred)
7. Dr Factory overhead 21600
Cr Cash 21600
( Paid cash for utilities)
8. Dr Work in process (25500*110%) 28050
Cr Applied overhead 28050
(Applied overhead)
9. Dr Factory overhead 5100
Cr Accumulated depreciation 5100
(To record depreciation)
T-account
Work in process Material
Dr___________Cr____ DR ___________CR
16600------ 9150 -----
1050 ----- 20500 ---- 1050
30100 ----- 25100--- 30100
25500---
28050---
Accounts payable Cash
Dr____________Cr_ DR ___________Cr
--- 20500 ---- 20500
----- 25100 ----21600
20500-----
Factory overhead Wages payable
Dr ____________Cr Dr _____________Cr
21600---
-----25500
5100---
Applied factory overhead Accumulated depreciation
Dr_____________Cr Dr ___________Cr_
----28050 ---5100
Cost of goods sold Finished goods
Dr_____________Cr Dr ______________Cr
( open) 65100 ---
101300 --- 36600 (end)
Dr Finished goods 101300
Cr Work in process 101300
(move work in process to finished goods)
Dr Cost of goods sold 129800
Finishd goods 129800
(move finished goods to cost of goods sold)
Answer:
Explanation:
The journal entries are shown below:
On July 1
Merchandise Inventory A/c $10,800
To Accounts payable A/c $10,800
(Being goods purchased on credit)
On July 5
Accounts payable A/c Dr $1,500
To Merchandise Inventory A/c $1,500
(Being goods returned)
On July 8
Accounts payable A/c Dr $9,300 ($10,800 - $1,500)
To Cash A/c $9,114
To Merchandise Inventory A/c $186 ($10,800 - $1,500)× 2%
(Being due amount is paid and the remaining balance is credited to the cash account)
Answer:
$1,260
Explanation:
The computation of amount of interest income is shown below:-
Principal $27,000
Rate of interest 8%
Interest for 7 month in 2014 $1,260
($27,000 × 8% × 7 ÷ 12)
Interest for 5 months in 2015 $900
( $27,000 × 8% × 5 ÷ 12)
12 months from 1 June 2014
to 31 may 2015 12 months
Interest $2,160
($27,000 × 8%)
T will repay the principal and one year interest
on may 31, 2015
($20,000 + $2,160) $22,160
So, Interest income to be reported on its 2014 income statement is $1,260
Answer:
$26.52
Explanation:
The computation of the maximum price for paying for the stock today is shown below:
As we know that
Required rate of return = (Sale of the stock - maximum price + dividend received) ÷ (maximum price)
0.15 = ($28 - maximum price + $2.50) ÷ (maximum price)
0.15 × maximum price = $28 - maximum price + $2.50
So, the maximum price is $26.52
We simply applied the above formula