Answer:
$171,619.20
Explanation:
The computation of the budgeted accounts payable balance at the end of November is shown below:
= Budgeted cost of raw materials purchases in November × following month percentage
= $286,032 × 60%
= $171,619.20
As 40% is paid in the month of purchase whereas 60% is paid to the following month. So, we recognized 60%, not 40%
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Answer:
The correct answer is letter "B": Clients can compare information from different institutions to make informed decisions.
Explanation:
The government puts special emphasis on regulating institutions' disclosures so that core information on benefits and responsibilities are provided to customers before they enter into a contract. By this, clients will be generally aware of what they are engaging in. Besides, they can compare information among different organizations so they can eventually choose the most convenient according to their needs.
Answer:
The amount of cash paid for intrest expense during the year was $ 41.500.
Explanation:
Cash paid for interest expense = bond interest expense + Decrease in premium on bonds payable account
= $ 40,000 + $ 1,500
= $ 41,500
Therefore, the amount of cash paid for intrest expense during the year was $ 41.500.
Answer:
For Material 80,000
For Conversion 72,000
Explanation:
The computation of equivalent units of production for the bath linens department for August is shown below:-
<u>Materials</u> <u>Conversion</u>
Units completed and
transferred out 60,000 60,000
Units in process,
August 31 20,000 12,000
(20,000 × 60%)
Equivalent units of
production 80,000 72,000
Therefore to reach out the equivalent units of production we simply added the units completed and transferred out with Units in process Aug 31 of material and conversion.
