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Olin [163]
2 years ago
13

Gallon Corporation had $24,000 of raw materials on hand on April 1. During the month, the Corporation purchased an additional $5

2,000 of raw materials. During April, $62,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $2,000. The debits to the Work in Process account as a consequence of the raw materials transactions in April total: Multiple Choice $62,000 $52,000 $60,000 $0
Business
2 answers:
mylen [45]2 years ago
5 0

Answer:

$62,000

Explanation:

Total materials - indirect materials

=62,000- 2000= $62,000

strojnjashka [21]2 years ago
4 0

Answer:

C-  $60,000

Explanation:

Description                                       Amount

Total material requisitioned            $62,000

less indirect materials                        $2,000

Total raw materials debited

to work in progress                          $60,000

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On January 1, 20X9, Pirate Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value
Ainat [17]

Answer:

Consider the following calculations. The answer is $135,000.

Explanation:

Book value of inventory of acquiring company before combination = $90,000

Fair value of acquired inventory = $45,000

Amount of total inventory immediately after business combination = $90,000 + $45,000 = $135,000

Hence, answer is $135,000

7 0
2 years ago
You have savings of $100. You plan to save another $100 at the beginning of each year for 5 years. The account pays annual inter
Brut [27]

Answer: The ending balance (principal plus interest) will be $638.10

Explanation:

To calculate this we need to use the Quarterly Interest formula

CI quarterly = P (1+ (R/4)/100)^4n

CI is the compound interest payable

I is the initial principal sum of money

R is the interest rate in percentage at which interest accrued over time

n is the time period in years

For the first year the total amount plus interests is

CI = $ 100 (1 + (8/4)/100)^4x1

CI = $100 (1 + 2/100)^4

CI= $100 (1 + 0.02)^4  

CI = $100* 1.0824

CI = $108.24

For the second year = $100+ $108.24= $208.24

CI = $ 208.24 * 1.0824

CI = $225.41

For the third year = $100 + $ 225.41 = $325.41

CI = $325.41 * 1.0824

CI = $352.23

For the fourth year = $100 + $ $352.23 = $452.23

CI  = $452.23 * 1.0824

CI = $ 489.51

For the fifth year =  $100+ $489.51 = $589.51

CI = $589.51 * 1.0824

CI = $ 638.10

8 0
2 years ago
Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $14 a
Shtirlitz [24]

Answer:

The sales projections for the first 6 months are:

Product: XQ-103

Q1 + Q2 Sales (units) = 49,220

Q1 + Q2 Sales ($) = $689,080

Product: XQ-104

Q1 + Q2 Sales (units) = 30,260

Q1 + Q2 Sales ($) = $817,020

Explanation:

A sales budget is implemented to support the planning process of a Business. It give an indication of the commercial engagements the business intends pursuing over a course or period and helps the Business managers evaluate if this is in line with the corporate objective.

A lot of factors are considered before developing a sales Budget. Some are external while others are internal. These are a few:

*First to be considered is the historical sales performance of the business.

*Then the improvement the business wants to make in how it sells and how it markets its products in the new year.

*The size of the market. Are we seeing more users or uses for our product

*competitive landscape. How well do we fare versus competition. Is it easy for new players to come into the industry etc

Edington Electronics Inc.

Sales Budget

for 2 Quarters ending June 30 2020

Product: XQ-103

Q1 projections.

Sales (units) = 22,840

Selling price Per Unit = $14

Sales in Quarter 1 = $319,760

Q2 projections.

Sales (units) = 26,380

Selling price Per Unit = $14

Sales in Quarter 2 = $369,320

First half Year projections.

Q1 + Q2 Sales (units) = 49,220

Q1 + Q2 Sales ($) = $689,080

Product: XQ-104

Q1 projections.

Sales (units) = 13,540

Selling price Per Unit = $27

Sales in Quarter 1 = $365,580

Q2 projections.

Sales (units) = 16,720

Selling price Per Unit = $27

Sales in Quarter 2 = $451,440

First half Year projections.

Q1 + Q2 Sales (units) = 30,260

Q1 + Q2 Sales ($) = $817,020

7 0
2 years ago
Hardwoods, a timber supplying company, contracted with a furniture manufacturer, taylor furniture. hardwoods owned a large plot
charle [14.2K]
A. Instead of a tornado’s striking Hardwoods’ land, the state in which Hardwoods operates passes a law making it illegal for any lumber
<span>companies to cut down trees for the purposes of selling their wood. This environmental measure causes Hardwoods to go out of business.</span>
6 0
2 years ago
The following information is available for Wildhorse Co. for the month of January: expected cash receipts $59,320; expected cash
Margarita [4]

Answer:

Ending cash balance$8,230

Explanation:

Preparation of basic cash budget for the month of January.

Wildhorse Co CASH BUDGET for the month of January

Beginning cash balance$11,890

Add: Cash receipts $59,320

Total cash available $71,210

($59,320+$11,890)

Less: Cash disbursements ($66,850)

Excess of available cash over cash disbursements $4,360

Financing needed $3,870

($8,230-$4,360)

Ending cash balance$8,230

Therefore the basic cash budget for the month of January will be $8,230

6 0
2 years ago
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