Business, 01.07.2021 15:10 jollyjinkings
Prepare summary journal entries to record the following transactions for a company in its first month of operations. Raw materials purchased on account, $96,000. Direct materials used in production, $41,000. Indirect materials used in production, $18,600. Paid cash for factory payroll, $40,000. Of this total, $32,000 is for direct labor and $8,000 is for indirect labor. Paid cash for other actual overhead costs, $8,000. Applied overhead at the rate of 120% of direct labor cost. Transferred cost of jobs completed to finished goods, $60,000. Sold jobs on account for $85,000 g(2). The jobs had a cost of $60,000 g(1).NoTransactionGeneral JournalDebitCredit
1a. Raw materials inventory110,000
1 Accounts payable
2b(1).Work in process inventory
2 Raw materials inventory
3b(2).Factory overhead
3 Raw materials inventory
4c. Work in process inventory
4 Factory overhead
4 Cash
5d. Factory overhead
5 Cash
6e. Work in process inventory
6 Factory overhead
7f. Finished goods inventory
7 Work in process inventory
8g(1).Cost of goods sold
8 Finished goods inventory
Answers: 3
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Burke enterprises is considering a machine costing $30 billion that will result in initial after-tax cash savings of $3.7 billion at the end of the first year, and these savings will grow at a rate of 2 percent per year for 11 years. after 11 years, the company can sell the parts for $5 billion. burke has a target debt/equity ratio of 1.2, a beta of 1.79. you estimate that the return on the market is 7.5% and t-bills are currently yielding 2.5%. burke has two issuances of bonds outstanding. the first has 200,000 bonds trading at 98% of par, with coupons of 5%, face of $1000, and maturity of 5 years. the second has 500,000 bonds trading at par, with coupons of 7.5%, face of $1000, and maturity of 12 years. kate, the ceo, usually applies an adjustment factor to the discount rate of +2 for such highly innovative projects. should the company take on the project?
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Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)
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The undress company produces a dress that women use to quickly and easily change in public. the company is just over a year old and has been successful through a kickstarter campaign. the undress company has identified a customer segment, but if it wants to reach a larger customer segment market outside of the kickstarter family, what question must it answer?
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Prepare summary journal entries to record the following transactions for a company in its first mont...
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