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2 years ago

Morganton Company makes one product and it provided the following information to help prepare the master budget:

Business

1 answer:

Alex73 [517]2 years ago

4 0

Answer:

$93,956

Explanation:

Morganton pays 30% of its raw materials purchases during the current month and the rest (70%) is paid in teh following month.

Raw materials purchases for June = $88,880: $88,880 x 70% = $62,216 paid in July.

Raw materials purchases for July = $105,800: $105,800 x 30% = $31,740

total cash disbursements related to raw materials = $93,956

total cost of raw materials for July

budgeted unit sales 10,000

- beginning inventory 2,000 units

+ desired inventory 2,400 units (20% of August's requirements)

units produced = 10,400

x 5 pounds of raw materials = 52,000 pounds

- beginning inventory of raw materials 5,200

+ ending inventory of raw materials 6,100 (10% of August's requirements)

total raw materials purchased 52,900 pounds

x $2 per pound

total raw materials cost for July $105,800

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During the year,Liptom Company made an entry to write off a $4,000 uncollectible account. Before this entry was made, the balanc

Andru [333]

Answer:

$55,500

Explanation:

The computation of the net realizable value after the write off entry is show below:

The credit balance in allowance with terms to bad debts is

= $4,500 - $4,000

= $500

Now the net realizable value is

= ($60,000 - $4,000) - ($4,500 - $4,000)

= $56,000 - $500

= $55,500

Hence, the same is to be considered

7 0

1 year ago

Before lean approaches could be implemented successfully, many North American companies needed to make which changes

qwelly [4]

Answer:

C. Cultural and organizational changes

Explanation:

The many northern american companies required to make the cultural and organization changes prior to the approaches i.e. lean that implemented successfully as if we bring the changes like cultural and organizational one so it would become very challenging task

Therefore as per the given situation the option c is correct

And, the rest of the options are wrong

7 0

1 year ago

For technology-based ventures, sometimes innovation results from recognizing an unsatisfied need in the marketplace, such as wit

Licemer1 [7]

Explanation:

Market pull can be defined as a strategy in which the organization develops a new product or service for customers to look for the company, which means bringing customers closer and gaining the advantage of loyalty and increasing the customer base.

The first example shows the market pull by developing a consumer need such as high-speed internet to replace a slower internet, that is, the company attracted consumers from a need that was not met in the market.

The advantages of this strategy are consumer loyalty , and the disadvantages may be the difficulty in designing a new product that meets the real needs of consumers and is well accepted in the market.

The "technology push" is the strategy used when companies are already recognized in the market enough to influence the demand for their products and services, and then launch new technological products with the expectation of creating the need in consumers from the value that the company have on the market.

The advantages of this strategy can be the increase in the brand value in the market, and the disadvantages can be spent on technological developments that may not be well accepted by consumers.

5 0

2 years ago

Sunland Company took a physical inventory on December 31 and determined that goods costing $190,500 were on hand. Not included i

Sergio [31]

Answer:

$241,500

Explanation:

Calculation for What amount should Sunland report as its December 31 inventory

December 31 inventory per physical count $190,500

Add Goods-in-transit purchased FOB shipping point $29,000

Add Goods-in-transit sold FOB destination $22,000

December 31 Inventory $241,500

($190,500 + $29,000 + $22,000 = $241,500)

Therefore What amount should Sunland report as its December 31 inventory is $241,500

8 0

1 year ago

On March 25, 2021, Phillips Corporation purchased bonds of Atlas Corporation for $132 million and classified the securities as t

ValentinkaMS [17]

Answer:

An unrealized holding gain of $28 million in 2019.

Explanation:

At the financial year-end, the company have to reevaluate the investment to recognize the gain or loss.

If the fair value is higher than actual investment, the company gain and vice versa it lost.

In this scenario, the fair value adjustment = the valuation on 31st December – purchased value = $150 million - $132 million = $28 million.

Because this step is just an approach to record new valuation of investment, then it’s consider unrealized.

In short, Phillips Corporation should first update the fair value adjustment of $28 million on December 31 2021

4 0

1 year ago