Homework Answers
Ans 1 Raw Material
Ans 2 Work in process
Ans 3 MRO supplies
Ans 4 Finished Goods
| Hi mate, |
| I would be grateful to you if you can provide a thumbs up and write one beautiful comment. It will improve my rating and let me continue my journey here. |
| In case of doubt, please comment. I will consider myself fortunate if I can help you. |
| All the best for your bright future. |
Add Answer to:
Question 4 (4 points) Inventory purchased, but not yet processed is A Components or raw material...
A Print Question 4 Not yet answered Marked out of 2.00 Flag question Juoddns Preparation of...
A Print Question 4 Not yet answered Marked out of 2.00 Flag question Juoddns Preparation of Individual Budgets During the first calendar quarter of 2016, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 5,000 units in the urban region at a unit price of $53 and 4,000 units in the rural region at $48 each. Because the sales manager expects the product to catch on, he...
Presented below is a list of items that may or may not be reported as inventory...
Presented below is a list of items that may or may not be reported as inventory in a company's December 31 balance sheet. Indicate which of these items would typically be reported as inventory in the financial statements, and if an item should not be reported as inventory, indicate how it should be reported in the financial statements. 1. Goods sold where large returns are predictable. 2. Short-term investments in stocks and bonds that will be resold in the near...
Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019...
Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019 follow: Finished Components C12 D57 10 pounds 8 pounds 4 pounds 1 pound 3 hours 2 pounds 2 hours Requirements for each finished component: RM 1 RM 2 RM 3 Direct labor Product information: Sales price Sales (units) Estimated beginning inventory (units) Desired ending inventory (units) $ 160 12,000 370 300 $ 190 12,000 190 200 Direct Materials Information RM1RM2 RM3 5 $ 1.50...
(Question 2) Prepare a pro forma balance sheet as of the end of that year. Narcolarm,...
(Question 2) Prepare a pro forma balance sheet as of the end of
that year.
Narcolarm, Inc. (B) Mary Lou Black, M.D., president of Narcolarm, Inc., was in the process of preparing a business plan, including some pro forma (i.e. projected) financial statements, for her new venture [See Narcolarm, Inc. (A)]. Enlisting the help of a niece who had recently completed a course in accounting, Dr. Black first pre- pared a list of requirements and activities necessary to launch the...
I already created the income statement, but now I need the above question answered. Need help...
I already created the income statement, but now I need the above
question answered. Need help determining how to include the other
costs aside from the labor and material costs.
Walden Company makes and sells wooden furniture. A recent fire destroyed most of the company's accounting record. Mike Lawson, the manager of Walden Company, needs to prepare an income statement for an upcoming meeting with the company's board of directors. Because the key accounts are not usable, Mike asked the...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2)...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2) Purchasing supplies on credit increases assets while decreasing liabilities. True False 3)On October 15, Gallery Comp. received $12,500 as a down payment on a consuting contract. The amount was credited to Unearned Consulting Revenue By October 31, 10% of the contract was completed. Gallery Corp. needs to prepare an adjusting entry for $1.250. True False 4) Asset, liability and revenue accounts are not closed...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
Hi, I am requesting your help. Some of those that I am not sure if I...
Hi,
I am requesting your help. Some of those that I am not sure if I
am right?
Thank you,
Michelle
________________________________
You work at Ford Motor Company and are responsible for determining weekly production capacity for the Juarez, Mexico assembly plant. There are 21 days left in the production month. Your sales manager just informed you that 4,725 vehicles need to be produced in the upcoming days to meet projected sales demand in the United States 21. Your production...
Question 1 Solar Power Ltd., a small Kumasi –based manufacturer and distributor of solar energy panels,...
Question 1 Solar Power Ltd., a small Kumasi –based manufacturer and distributor of solar energy panels, was in its first year of operation. The company was conceived and controlled by two retired executives. Nana Darkwa, an engineer by profession, developed the basic patent for the solar panels. He lacked adequate liquid resources to finance the venture, although he did control a fair amount of wealth. Yaw Manu’s chosen field of endeavor was real estate. He, too, possessed few pied real...
*Specifically looking for help with t-accounts and question 4, thank you!!* As a recently hired accountant...
*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
business activity for the current year,2018
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1, 2018, from...
A Print Question 4 Not yet answered Marked out of 2.00 Flag question Juoddns Preparation of Individual Budgets During the first calendar quarter of 2016, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 5,000 units in the urban region at a unit price of $53 and 4,000 units in the rural region at $48 each. Because the sales manager expects the product to catch on, he...
Presented below is a list of items that may or may not be reported as inventory in a company's December 31 balance sheet. Indicate which of these items would typically be reported as inventory in the financial statements, and if an item should not be reported as inventory, indicate how it should be reported in the financial statements. 1. Goods sold where large returns are predictable. 2. Short-term investments in stocks and bonds that will be resold in the near...
Spring Manufacturing Company makes two components identified as C12 and D57. Selected budgetary data for 2019 follow: Finished Components C12 D57 10 pounds 8 pounds 4 pounds 1 pound 3 hours 2 pounds 2 hours Requirements for each finished component: RM 1 RM 2 RM 3 Direct labor Product information: Sales price Sales (units) Estimated beginning inventory (units) Desired ending inventory (units) $ 160 12,000 370 300 $ 190 12,000 190 200 Direct Materials Information RM1RM2 RM3 5 $ 1.50...
(Question 2) Prepare a pro forma balance sheet as of the end of
that year.
Narcolarm, Inc. (B) Mary Lou Black, M.D., president of Narcolarm, Inc., was in the process of preparing a business plan, including some pro forma (i.e. projected) financial statements, for her new venture [See Narcolarm, Inc. (A)]. Enlisting the help of a niece who had recently completed a course in accounting, Dr. Black first pre- pared a list of requirements and activities necessary to launch the...
I already created the income statement, but now I need the above
question answered. Need help determining how to include the other
costs aside from the labor and material costs.
Walden Company makes and sells wooden furniture. A recent fire destroyed most of the company's accounting record. Mike Lawson, the manager of Walden Company, needs to prepare an income statement for an upcoming meeting with the company's board of directors. Because the key accounts are not usable, Mike asked the...
1) Although a proprietorship is not a separate legal entity, a partnership is True False 2) Purchasing supplies on credit increases assets while decreasing liabilities. True False 3)On October 15, Gallery Comp. received $12,500 as a down payment on a consuting contract. The amount was credited to Unearned Consulting Revenue By October 31, 10% of the contract was completed. Gallery Corp. needs to prepare an adjusting entry for $1.250. True False 4) Asset, liability and revenue accounts are not closed...
SECTION A (40 marks): Answer ALL Questions in this section. QUESTION ONE a) Aseda Ltd incurred the following cost in its manufacturing operations GH¢ Cost of material purchase 20,000 Import duties 400 Trade discount @10% of purchase cost Cash discount 500 Irrecoverable taxes 1,000 Salary of factory plant operator 2,500 Direct labour 5,000 Salary of factory supervisor 4,000 Cost of expected production losses 800 Administrative overhead (Note) 16,000 Cost of storage of raw material for further processing 2,000 Marketing cost...
Hi,
I am requesting your help. Some of those that I am not sure if I
am right?
Thank you,
Michelle
________________________________
You work at Ford Motor Company and are responsible for determining weekly production capacity for the Juarez, Mexico assembly plant. There are 21 days left in the production month. Your sales manager just informed you that 4,725 vehicles need to be produced in the upcoming days to meet projected sales demand in the United States 21. Your production...
*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
business activity for the current year,2018
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1, 2018, from...
Most questions answered within 3 hours.
-
Suppose there are 1000 students in a business administration
program. 620 students are in an IT...
asked 14 seconds ago -
Let G be an undirected graph and let X be a subset of the
vertices of...
asked 1 minute ago -
An empty truck traveling at 10 km/h has kinetic energy. How much
kinetic energy does it...
asked 1 minute from now -
Physicians add a special dimension to a governing board. What
are the important things to consider...
asked 13 minutes ago -
Rank the following titrations in order of increasing pH at the
halfway point to equivalence (1...
asked 9 minutes ago -
Mr. Smalley, who had been diagnosed as manic-depressive and had
been in and out of mental...
asked 11 minutes ago -
A circular (0.8 m diameter) footing with q=50 kN/m^2 is placed
on the ground surface. Compute...
asked 16 minutes ago -
Calculate the effective radiation dosage in rems for a 75 ‑kg
person who is exposed to...
asked 18 minutes ago -
Determine the heat of combustion (ΔH2) for propane
(C3H8) using the bond energy table. HINT: you’ll...
asked 29 minutes ago -
1 Give the host id in binary for the following IP addresses
(assuming classful):
a) 130.11.6.9...
asked 31 minutes ago -
A concert loudspeaker suspended high off the ground emits 32 W
of sound power. A small...
asked 34 minutes ago -
WRITE A JAVA PROGRAM THAT READS DATA FROM A .CSV FILE
!!
PLEASE SEE INSTRUCTIONS BELOW...
asked 39 minutes ago