Only exercise 5-15 7,000900 (2)Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of theDetermine the amount to be paid in full settlement of each of the following invoices, assumingwithin the discount period, and (c) the receipt of payment beyond the discount period of 10 days.goods sold was $58,000. Journalize Sayers' entries to record (a) the sale, (b) the receipt of paymenEstimated Returns Inventory900(4)Customer Refunds Payable1,470(3)a.Describe each transaction.D. What was the invoice amount of the merchandise that was returned?EX 5-14 Sales-related transactionsObj 2SHOW ME HOW• EX 5-15 Determining amounts to be paid on invoicesObj 2Va. $30,400that credit for returns and allowances was received prior to payment and that all invoicespaid within the discount period:SHOW ME HOWMerchandiseInvoice AmountFreightPaid by SellerCustomer Returnsand Allowances$32,000FOB destination, n/30$1,600a.b.$300FOB shipping point, 2/10, n/30FOB shipping point, 1/10, n/30FOB shipping point, 2/10, n/30FOB destination, 1/10, n/3012,8002,500C.21,0004,000d.9,0001751,000e.77,400EX 5-16 Sales-related transactionsShowcase Co., a furniture wholesaler, sells merchandise to Balboa Co, on account, $254,500, termbn/30. The cost of the goods sold is $152,700. Showcase Co. issues a credit memo for $50,00for merchandise returned prior to Balboa Co, paying the original invoice. The cost of the echandise returned is $17,500. Journalize Showcase Co's entries for (a) the sale, including ucost of the goods sold, (b) the credit memo, including the cost of the returned merchandise, a(c) the receipt of the check for the amount due from Balboa Co.Obj. 2SHOW ME HOWEX 5-17 Purchase-related transactionsBased on the data presented in Fr(h) theSHOW ME HOu

Under FOB shipping terms, the freight charges are to be paid by the buyer.

Answered: aymen period of 10 days Determine the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. MC.14.81.ALGO 2. MC.14.96.ALGO 3. MC.11.69.ALGO 4. MC.11.112.ALGO 5. MC.15.86.ALGO 6. MC.15.125 7. MC.16.71.ALGO 8. MC.16.86.ALGO 9. MC.17.87.ALGO 10. MC.17.129 11. MC.18.58.ALGO 12. MC.18.45.ALGO 13. MC.20.81.ALGO Mocha Company manufactures a single product by a continuous process, involving three production departments. The records. indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. Department 2 has transferred-in costs of $390,000 for the current period. In addition, work in process at the beginning of the period for Department 2 totaled $75,000, and work in process at the end of the period totaled $90,000. The journal entry to record the flow of costs into Department 3 during the period is Oa. Work in Process-Department 3…
#5 -23 1. What is the product’s CM ratio?
Community Co X Home Myly Assignments 16P Summer 2012, x M Question 4-M03 Ch 17 Graded to.mheducation.com/ext/map/index.html?_con-contexternal_browser=0&launchUrl=https%253A%252F%252Flms.mheducatio Graded Practice i Process Assembly Machining Setups Finishing Support Activity Budgeted Cost $ 310,600 24,000 $ 334,600 Inspecting $ 226,000 Purchasing $ 132,000 Saved Activity Activity Cost Driver Machine hours (MH) Usage 7,400 Setups 180 Inspections 760 Purchase orders 480 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Inspections Purchase orders Model X Model Z 1,600 3,200 2,200 5,200 60 120 480 280 320 160 Per Unit Model X Selling price per unit $ 410 Model Z $ 390 Direct materials cost per unit 145 115 Direct labor cost per unit 130 145 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the…
1
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Question Content Area Given the following information, determine the activity rate (rounded to the nearest cent) for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,000 $57,200 Inspections 23,400 $149,700 Assembly (dlh) 73,800 $394,500 a. $5.61 b. $5.35 c. $6.40 d. $5.72
Question 6 View Policies Current Attempt in Progress Crane Company determines that 59000 pounds of direct materials are needed for production in July. There are 3700 pounds of direct materials on hand at July 1 and the desired ending inventory is 3300 pounds. If the cost per unit of direct materials is $3, what is the budgeted total cost of direct materials purchases? ort $175800 O $180600. O $178200. O $173400. ea Chp ins prt sc fho 12 home delete % 5 & 7 backspace lock T P hom G H K enter B pause t shift ctri NM N
ent Question 6 QUIZ CH 18-C X Project 6 x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fbb.tulsacc.edu%252Fw... JIZ-CH 18 Saved CO 6 Fints eBook References Exercises 18-41 (Algo) Allocation of Central Costs; Profit Centers [LO 18-3] Woodland Hotels Incorporated operates four resorts in the heavily wooded areas of northern California. The resorts are named after the predominant trees at the resort: Pine Valley, Oak Glen, Mimosa, and Birch Glen. Woodland allocates its central office costs to each of the four resorts according to the annual revenue the resort generates. For the current year, the central office costs (000s omitted) were as follows: Front office personnel (desk, clerks, etc.) Administrative and executive salaries Interest on resort purchase Advertising Housekeeping Depreciation on reservations computer Room maintenance Carpet-cleaning contract Contract to repaint rooms $ 12,100 5,700 4,700 600 3,700 80 1,210 50 570 Mc…
Question 2: (): A1, C2, C3 "In the annual meeting of Brixton company, the Head of the accounting department of the company suggested to the top Management to switch the budgetary system from Zero-based budget to Rolling budget " Required: What is the budgetary setting style in Brixton Company? And Briefly Explains the differences between Rolling budgetary and Zero-based budgets.
Exercise 9-2 (Algo) Activity Varlances [LO9-2] Flight Café prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: Flight Café Planning Budget For the Month Ended July 31 Budgeted meals (q) Revenue ($4.40q) Expenses: Raw materials ($2.309) Wages and salaries ($6,200 + $0.289) Utilities ($2,100 + $0.059) Facility rent ($3,100) Insurance ($2,400) Miscellaneous ($900 +$0.109) Total expense Net operating income 21,000 $ 92,400 48,300 10,400 3,150 3,100 2,400 3,000 70,350 $ 22,050 In July, 22,000 meals were actually served. The company's flexible budget for this level of activity appears below: Budgeted meals (q) Revenue ($4.409) Expenses: Raw materials ($2.309) Flight Café Flexible Budget For the Month Ended July 31 22,000 $ 96,800 50,600 10,600 3,200 3,100 2,400 3,100 73,000 $ 23,800 Wages and salaries ($6,200+ $0.209) Utilities ($2,100 + $0.059) Facility rent ($3,100) Insurance ($2,400) Miscellaneous…
1. Prepare a physical flow schedule for July.

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