Ask question

Ask question

All categories

2 years ago

13

Jan's Jams makes a credit sale for $300 with terms of 2/10,n/30. The cost of the merchandise is $200. The required journal entry

to record the sale and the cost of the sale is:

1 answer:

Naily [24]2 years ago

7 0

Answer:

The complete journal entry would be:

Account Debit Credit

Sales Revenue $300

Accounts Receivable $300

Cost of Goods Sold $200

Merchandise $200

You might be interested in

Otis, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot sleep w

Wewaii [24]

Answer: His district manager may be influenced by <u><em>availability bias. </em></u>

Explanation:

Availability bias may influence his manager because the district manager has this information in his recent memory. He may consider this to be an accurate description of Otis's behavior all of the time, and not just in recent times. Since everything has occurred since the last evaluation he may be judged solely on these actions and not of his overall actions and work ethic in the past.

There are several ways to avoid availability bias such as:

Set high standards
Build a diverse team
Utilize your network
Seek input from your team

7 0

2 years ago

Recher Corporation uses part Q89 in one of its products. The company's Accounting Department reports the following costs of prod

Leto [7]

Answer and Explanation:

The preparation of the financial impact is shown below:

Particulars Make Buy

Direct Material (7,400 × $7.50) $55,500

Direct Labor (7,400 × $4.20) $31,080

Variable overhead (7,400 × $8.30) $61,420

Supervisors salary (7,400 × $3.20) $23,680

Depreciation on special equipment $0 $0

General overhead $3,400

Purchase cost (7,400 × $27) $199,800

Opportunity cost $(18,000)

Total Annual Cost $175,080 $181,800

b. As we can see that the total annual making cost is $175,080 and the total annual buying cost is $181,800 which increase the cost by $6,720. So in this case the company should make the product rather than buying them

4 0

2 years ago

Maryland Incorporated produces toys. Total manufacturing costs are $360,000 when 50,000 toys are produced. Of this amount, to

Aleonysh [2.5K]

Answer:

$458,000

Explanation:

The computation of the total production cost in case of 85,000 toys are produced

The fixed cost is

= Total manufacturing cost - total variable cost

= $360,000 - $140,000

= $220,000

And, the variable cost per unit is

= $140,000 ÷ 50,000 toys

= $2.8

So for 85,000 toys, the total production cost is

= Fixed cost + Variable cost × variable cost per unit

= $220,000 + 85,000 toys × $2.8

= $220,000 + $238,000

= $458,000

5 0

2 years ago

You haven't been able to spend much time talking with your team lately, but your workload should be back to normal soon. When yo

FrozenT [24]

Answer and Explanation:

<u>I would most likely do this:</u>

Explain the issue to the team and praise them for their work in my absence. I would let them know there would be more time soon. It is very essential to praise and appreciate these efforts by the associates since I have been absent for a while and do not know what efforts they have been putting in.

<u>I would be least likely to:</u>

Talk to the manager to explain this situation or propose that my some of my commitments are eased for me to have more time with my team

4 0

2 years ago

Roles of three employees in the Agriculture, Food, and Natural Resources cluster are given in this chart. Which best describes t

dsp73

What are the options?

5 0

2 years ago

Read 2 more answers