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tester [92]
2 years ago
8

Martel Co. had supplies of $24,000 and $33,000 at the end of 2017 and 2018, respectively. During 2018, Howard paid $128,000 for

supplies. Supplies expense in the 2018 income statement was____________.
a. $119,000.
b. $128,000.
c. $137,000.
d. $110,000.
Business
1 answer:
swat322 years ago
3 0

Answer:

a. $119,000.

Explanation:

The movement in the supplies account is as a result of purchases and use. When purchases are made, debit supplies account and credit cash or accounts payable. When supplies are used, debit supplies expense and credit supplies account. The movements in the supplies account may be explained by the equation below;

Opening balance + purchases - cost of goods sold/used/supplies expense = closing balance

$24000 + $128000 - supplies expense = $33000

Supplies expense = $24000 + $128000 - $33000

= $119,000

This amount will be reported in the income statement as an expense.

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The structure that organizations most commonly adopt to solve the control problems that result from producing many different kin
bija089 [108]

Answer:

a. True

Explanation:

There are two commonly used organization structures by firms. The first one is known as the<em> Functional Organization Structure</em>. The other one is known as the <em>Divisionalized Organisation Structure</em>.

Functional Organization Structure - Activities of a similar type within the company are placed under the control of the appropriate department head. Examples of Functions are Production, Marketing and Finance.

Divisionalized Organisation Structure - Organisations are split up into divisions in accordance with products that are made. These divisions are separate Investment and Cost Centers and decision making is decentralized.

3 0
2 years ago
A company has a $20 million portfolio with a beta of 1.2. It would like to use futures contracts on a stock index to hedge its r
11111nata11111 [884]

Answer: 88.89 or 89

Explanation: Futures contract refers to a legal binding which obligates a buyer and seller to transact about a commodity, good, security or services at a predetermined price but goods are delivered or paid for in the future.

Given the following ;

Portfolio value(p) = $20million

Portfolio Beta (b) = 1.2

Index price (i) = 1080

Multiplier = 250

Future value(A) = index price × multiplier

Future value(A) = 1080 × 250 = 270000

Number of contracts (N) = (portfolio value × portfolio Beta) ÷ future value

N = ($20,000,000×1.2)÷270000

N = 24000000 ÷×270000

N = 88.8888=88.89

N = 89 (NEAREST whole number)

7 0
2 years ago
g The following facts are known: • The total pounds needed for production are 2 times the units to be produced. • The desired en
OLEGan [10]

Answer and Explanation:

The Preparation of direct material budget is shown below:-

                      Direct Material budget  

Particulars                            Amount              

Units to be produced          $90,000   Y

Material per unit                      2  

Total pounds needed for

production M                    $180,000 2Y

Add: Desired ending Direct

Material Inventory 20%    $36,000 (.2 × 2Y = .4Y)

Total Material requirement $216,000 (2.4Y )

Less: beginning Raw material

Inventory                             $9,000  (.1Y)

Material to be purchased

Account                             $207,000 (2.3Y)

Cost per pound C               $5

Total cost of direct Material

Purchases A                        $1,035,000  

2Y + .4Y - .1Y = $207,000

Y = $207,000 ÷ 2.3               $90,000

8 0
2 years ago
Fluegge Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing
Softa [21]

Answer:

$14,016 favorable

Explanation:

The computation of the raw materials price variance is shown below:

= Actual Quantity × (Standard Price - Actual Price)

= 23,360 liters × ($5.40 - $4.80)

= 23,360 liters × $0.6

= $14,016 favorable

We simply deduct the actual price from the standard price and then multiplied it by the actual quantity so that actual value can come

8 0
2 years ago
Generating ideas often includes brainstorming or brainwriting. These techniques can be an effective way to produce the best idea
Lady bird [3.3K]

Answer:

1- a. Use flip-charts and classify ideas.

2) a. Crowd-storming.

Explanation:

1- To improve the group's brainstorm, Jeanne should use flipcharts and classify ideas.

Flipcharts is a whiteboard used as a visual resource, which allows the best visualization of graphics, new ideas, etc., in a dynamic and summarized way, since this visual resource attracts attention, records and helps in the fixing of content and central ideals.

2- The situation represents crowdstorming, which is a marketing strategy used when an organization wants to improve the services and products offered through interaction with groups of employees who can even be consumers, as in the case above.

This strategy helps in better brand positioning, by receiving direct feedbacks from the potential public, which helps in better meeting their wants and needs.

6 0
2 years ago
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