BUSINESS COLLEGE

Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information: Work-In-Process Inventory, April 30 $275
Direct material purchased during April 250
Work-In-Process Inventory, April 1 300
Direct labor costs incurred 400
Manufacturing overhead costs 350
Direct materials used in production 225

Answers

Answer 1
Answer:

Answer:

$1,100

Explanation:

Computation for the Work-in-Process transferred to the finished goods warehouse on April 30

Work-In-Process Inventory, April 1 300

Direct materials used in production 225

Direct labor costs incurred 400

Manufacturing overhead costs 350

Less Work-In-Process Inventory, April 30 ($175)

Work-in-Process transferred to the finished goods warehouse $1,100

Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 will be $1,100

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Johanna recently took over her father's business. She considered changing the date when she records and reports the business' financial results. Her accountant advised her not to do this. Which accounting principle is the basis of the accountant's advice

Answers

Answer: Time period

Explanation:

From the question, we are informed that Johanna recently took over her father's business and she considered changing the date when she records and reports the business' financial results but her accountant advised her not to do this.

The accounting principle that is the basis of the accountant's advice is time period principle. The time period principle states that information regarding a particular transaction shouldn't be changed when it has been reported for at a particular time period.

Explain what a literature review is.​

Answers

It is a paper that presents the current knowledge including substantive findings.

Swinnerton Clothing Company's balance sheet showed total current assets of $2,250, all of which were required in operations. Its current liabilities consisted of $575 of accounts payable, $300 of 6% short-term notes payable to the bank, and $145 of accrued wages and taxes. What was its net operating working capital that was financed by investors?

Answers

Answer: $1,530

Explanation:

It's net working capital that was financed by investors include the following figures,

Total current Assets.

Accounts Payables and Accrued wages need to be deducted because they came about as a result of operations and are neither of debt or equity financing so are considered free.

So, in calculating we have,

= 2,250 - 575 - 145

= $1,530

Swinnerton Clothing Company's net operating working capital that was financed by investors is $1,530

Answer:

$1,530

Explanation:

This can be calculated as follows:

Details                                                                             Amount ($)

Total current assets                                                              2,250

Accounts payable                                                                    (575)

Accrued wages and taxes                                                       (145)    

Net operating working capital financed by investors      1,530    

Therefore, Swinnerton Clothing Company's net operating working capital that was financed by investors is $1,530.

Columbia Construction Company earned $442,000 during the year ended June 30, 2014. After paying out $225,794 in dividends, the balance went into retained earnings. If the firm's total retained earnings were $847,935 at the end of fiscal year 2014, what were the retained earnings on its balance sheet on July 1, 2013?

Answers

Answer:

$631,729

Explanation:

The amount indicated as retained in a balance sheet is the accumulated amount of retained earning since inception.

A company's profits are shared between dividends and retained earnings.

The Columbia company made profits of  $442,000  on June 30, 2014  

Amounts paid out as dividends on June 30 were  $225,794

The retained earnings for June 2014 will be:

If net profits = retained earnings + dividends

retained earning will be earning - dividends payouts

=$442,000- $225,794

=$216,206

retained earning for June 2104  is 216,206

The accumulated retained earnings as of June 14, 2014, were $847,935,

retailed earning as of June 30, 2013, were

Accumulated retained earning by June 30, 2014 minus retained earnings earned on June 30, 2014

$847,935,-$216,206

=$631,729

Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,640 for conversion during the month. There were 21,000 cases of mascara started in November and 3,000 cases unfinished (40 percent complete) at the end of the period. All materials were added at the beginning of the production process. What is the unit cost for materials for Layla using the FIFO method?

Answers

Answer:

The unit cost for materials for Layla using the FIFO method is $2.

Explanation:

                                                            Physical unit % EUP-material

Units started and completed              18000      100%     18000

Ending work in process                       3000       100%      3000

Total                                                       21000       21000

Unit cost = 42000/21000

               = $2 per unit

Therefore, The unit cost for materials for Layla using the FIFO method is $2.

To judge whether a particular diversification move has good potential for building added shareholder value, the move should pass the following tests:___________. A) the attractiveness test, the barrier-to-entry test, and the growth test.
B) the strategic fit test, the resource fit test, and the profitability test.
C) the barrier-to-entry test, the growth test, and the shareholder value test.
D) the attractiveness test, the cost-of-entry test, and the better-off test.
E) the resource fit test, the strategic fit test, the profitability test, and the shareholder value test.

Answers

Answer:

D) the attractiveness test, the cost-of-entry test, and the better-off test.

Explanation:

To judge a diversification change, an organization needs to pass the attractiveness tests, the entry cost test and the best situation test.

These tests will be decisive to analyze the potential that diversification will have to create added value for the shareholder.

The attractiveness test will list the ability that the market has to ensure that there is a safe return on investments.

The cost-of-entry will aim to ensure that when entering a new sector, the organization does not have higher costs that can influence the generation of profitability.

Finally, the better-off test will analyze whether the planned diversification will be so profitable that it will help to improve the performance of the integration of organizational businesses.

Answer:

OPTION d

Explanation:
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