Answer:
Cash Sales Transaction
Journal Entry
Dr. Cash 100,000
Cr. Sales 100,000
Cash received and sales has been recorded due to the nature of Cash and Income, Cash and Sales is entered as Debit and credit respectively.
* For Journal posting MS excel file is attached which has T account with above transaction posted in it.
Explanation:
Answer:
top management's attitude toward decentralized operating structures.
Explanation:
Answer:
See attached photo.
Explanation:
Refer to the photo attached.
Answer:
Direct material quantity variance= $600 unfavorable
Explanation:
Giving the following information:
Standard= 12 units of raw materials for $2 per unit.
Actual: 12,300 units of raw materials were used to produce 1,000 units.
T<u>o calculate the direct material quantity variance, we need to use the following formula:</u>
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Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 12*1,000= 12,000
Direct material quantity variance= (12,000 - 12,300)*2
Direct material quantity variance= $600 unfavorable
Answer:
$115,000
Explanation:
Data provided as per the question is below:-
Beginning balance = $81,000
Direct material issued = $27,000
Direct labor incurred = $7,000
The computation balance Process Inventory is shown below:-
Balance in the Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred
= $81,000 + $27,000 + $7,000
= $115,000
