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1 year ago

Emily Casper earns a weekly salary of $785. How much will she make after four weeks?

Business

1 answer:

OleMash [197]1 year ago

7 0

Answer:

$3140

Explanation:

It is given that,

Weekly salary of Emily Casper is $785. We need to find her earning after 4 weeks. It is a type of question based on the unitary method.

1 week = $785

4 week = 4 × $785

= $3140

Hence, her salary after 4 weeks is $3140.

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The city of Morehead leased equipment. The life of the noncancellable lease is 10 years. Using an 8 percent interest rate, the p

belka [17]

Answer:

1. Dr Equipment $ 905,861

Cr Lease Payable $ 905,861

2). Dr Lease Payable $ 125,000

Cr Cash $ 125,000

3) Dr Lease payable $ 115,000

Dr Interest Expense $ 10,000

Cr Cash $ 125,000

Explanation:

1. Preparation of the journal entry for the long-term lease in the General Fund..

Dr Equipment $ 905,861

Cr Lease Payable $ 905,861

2) Preparation of the first lease payment Journal entry on January 10,

Dr Lease Payable $ 125,000

Cr Cash $ 125,000

3) Preparation of the journal entry to second lease payment on January 10, 2018

Dr Lease payable $ 115,000

Dr Interest Expense (125000 x 8%) $ 10,000.00

Cr Cash $ 125,000

4 0

1 year ago

QUESTION 4 of 10: A clothing designer is looking for a job that can cover her living expenses of $5,000 per month. If she plans

Leto [7]

Answer:

$31.25

Explanation:

40 hours a week x 4 weeks a month = 160 hours of work per month

$5,000 divided by 160 = $31.25

7 0

2 years ago

Nolan owns 100% of the capital stock of both Twill Corp. and Webb Corp. Twill purchases merchandise inventory from Webb at 140%

Archy [21]

Answer: <em><u> $56,000 is unadjusted revenue overstated in the combined income statement for year 2.</u></em>

Explanation:

Consolidated Cost of Goods Sold = $40,000,

However, Twill realizes $56,000 ($40,000 × 140%) for a total of $96,000 as the cost of goods sold.

Thus, $56,000[$96,000 – $40,000] should be eliminated from Cost of Goods Sold in the combined income statement for year 2.

7 0

2 years ago

Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing depar

jeka57 [31]

Answer:

Cost per Equivalent Unit = $663, 836/72,000 units = $9,220

Explanation:

We are asked to determine the cost per equivalent unit for conversion costs for the month of June

Step 1: we determine the quantity of units that were transferred to the next department

Quantity transferred = Opening Work in Progress + Units Started and in production - The Closing inventory of Work in Progress

= 14,000 units +76,000 units -20,000 units = 70, 000 units

Step 2: Calculate the number of Equivalent units in production

Equivalent Units in Production= Units transferred + The Closing Inventory of work in Progress

= 70,000 units + (20,000 units x 10%)

= 70,000 units + 2,000 units

=72,000 units

Step 3: We calculate the Cost per Equivalent Unit

= The Total Cost of Production / The Equivalent Units (determined in step 2)

Total Cost =Cost in beginning WIP Inventory + Additional Conversion cost

= $92,218 + $571,618= $663,836

Cost per Equivalent Unit = $663, 836/72,000 units = $9,220

8 0

1 year ago

For a cost to be considered allocable to a contract, it must be a cost that is incurred specifically for a contract, or a cost t

Naily [24]

Answer:

a. A cost that is necessary for the overall operation of the business but not directly related to a contract

Explanation:

Option B - Allocable costs cannot be considered if the contractor is doing business with the government.

Option C - If the cost is exempted, it cannot be specifically allowable for a contract, or a cost that is beneficial to both the contract and other work.

Option D - Indirect costs cannot be allowable.

Option A - It is the right answer because allowable cost should be significant for the operations with an indirect relation with the contract. If it is linked with the overall operations, it can be considered as allowable to a contract.

7 0

1 year ago