Answer:
cash 1,000 debit
inventory 2,000 debit
land 5,000 debit
note payable 3,000 credit
Krug capital Account 5,000 credit
Explanation:
The land and inventories will be accepted at his market value.
Along with cash this are assets which enter the partnership so they are debited.
The note payable decreases the Krug capital contribution. It is credited.
Krug capital account balance will be to complete the entry and make debit = credit.
The answer is C report the symptom to her manager
Answer:
transferred out (COGM) 131,000
Cost of goods sold: 129,000
Explanation:
DM used 46,500
Direct labor 27,500
Overhead <u> 55,000 </u>
Total: 129,000 cost added for the period
Then, we calcualte the amount transferred-out:
Beginning WIP 14,000
Cost added 129,000
Ending WIP (12,000)
Trasferred out: 131,000 (cost of goods manufactured)
And finally, the cost of goods sold for the year:
Beginning FG 16,000
Trasferred out 131,000
Ending FG (18,000)
COGS: 129,000
Answer:
= $132,000.
Explanation:
There are two types of fixed costs, general fixed cost and specific fixed cost.
<u><em>General fixed costs </em></u><em>are those that cannot be traced to a specific product rather they are incurred for the benefit of all of the product being produced. For example,the rent of the factory where three products are being produced</em>
So they are unavoidable should a product be ceased for production that is they would still be incurred either way.
<u>S</u><u><em>pecific fixed costs </em></u><em>are those incurred specifically for a particular product and as such they would be saved should the product be discontinued. For example , if a special machine that cost $4000 a month to rent is used to produce a product. The $4000 would be saved should the production of the product ceases</em>
The net operating cost of the company would increase by the amount of the avoidable specific fixed cost:
=$90,000 + $42,000
= $132,000.
Answer and Explanation:
According to the scenario, journal entry for the given data are as follows:
Cash A/c Dr. $1,000
Supplies A/c Dr. $3,000
Land A/c Dr. $8,000
Equipment A/c Dr. $5,000
To A/c Payable A/c $4,500
To Notes payable A/c $3,100
To M. Derr capital A/c $9,400 ($1000+$3000+$8000+$5000-$4500-$3100)
(Being Derr's investment is recorded)
