The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a Redmond, Washington, industrial park. Listed below are some of the costs that are incurred at the company. Required: For each cost, indicate whether it would most likely be classified as direct materials, direct labor, manufacturing overhead, selling, or an administrative cost.The cost of a hard drive installed in a computer. a. Direct labor cost b. Direct materials cost c. Manufacturing overhead cost d. Selling cost e. Administrative cost

Answers

Answer 1

Answer: b. Direct materials cost

Explanation:

Direct materials are integral to the production of a good because they form part of the good being produced.

This is a computer company which assembles computers. Computers need a hard drive in order to function. The hard drive being installed in a computer will therefore count as a direct material because it will form part of the computer assembled.


Related Questions

(Gross Profit Method) Tim Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $38,000. Purchases since January 1 were $72,000; freight-in, $3,400; purchase returns and allowances, $2,400. Sales are made at 331/3% above cost and totaled $100,000 to March 9. Goods costing $10,900 were left undamaged by the fire; remaining goods were destroyed.
Instructions
(a) Compute the cost of goods destroyed.
(b) Compute the cost of goods destroyed, assuming that the gross profit is 331/3% of sales.

Answers

Answer:

a. $25,100

b. $33,433

Explanation:

Part a

Sales                                                                             $100,000

Less Cost of Sales :

Opening Merchandise                           $38,000

Add Purchases                                       $72,000

Add Freight In                                           $3,400

Less Purchase Return and Allowance   ($2,400)

Total                                                          111,000

Less Undamaged Inventory                 ($10,900)          

Total                                                       $100,100

Less goods destroyed                          ($25,100)        ($75,000)

Gross Profit                                                                     $25,000

Part b

Sales                                                                             $100,000

Less Cost of Sales :

Opening Merchandise                           $38,000

Add Purchases                                       $72,000

Add Freight In                                           $3,400

Less Purchase Return and Allowance   ($2,400)

Total                                                          111,000

Less Undamaged Inventory                 ($10,900)          

Total                                                       $100,100

Less goods destroyed                          ($33,433)        ($66,667)

Gross Profit                                                                     $33,333

Cale Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Cale sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 7%. For example, if a hospital buys supplies from Cale that cost Cale $100 to buy from manufacturers, Cale would charge the hospital $107 to purchase these supplies.For years, Cale believed that the 7% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits, Cale decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown:Activity Cost Pool (Activity Measure) Total Cost Total ActivityCustomer deliveries (Number of deliveries) $420,000 5,000 deliveriesManual order processing (Number of manual orders) 624,000 8,000 ordersElectronic order processing (Number of electronic orders)170,000 10,000 ordersLine item picking (Number of line items picked) 675,000 450,000 line itemsOther organization-sustaining costs (None) 650,000 Total selling and administrative expenses $2,539,000 Cale gathered the data below for two of the many hospitals that it serves—Georgetown and Providence (each hospital purchased medical supplies that had cost Cale $38,000 to buy from manufacturers): ActivityActivity Measure University Memorial Number of deliveries 16 28Number of manual orders 0 49Number of electronic orders 18 0Number of line items picked 190 210Required:1. Compute the total revenue that Cale would receive from Georgetown and Providence.2. Compute the activity rate for each activity cost pool.3. Compute the total activity costs that would be assigned to Georgetown and Providence.4. Compute Cale's customer margin for Georgetown and Providence.

Answers

Solution :

1.                                Calculation of total revenue

Total revenue = cost of goods sold + Markup 7% = Revenue

University       = 38000 + 2660 = 40660

Memorial        = 38000 + 2660 = 40660

Therefore, markup = cost of goods sold x market up

                              = 38000 x 7%

                              = 2660

2.                                Calculations of Activity rates

Activity rate     = activity cost pool / total activity = activity rate

Customer deliveries  = 420000 / 5000 = 84

Manual order processing = 624000 / 8000 = 78

Ele order processing = 170000 / 10000 = 17

Line time picking = 675000 / 450000 = 1.5

3.                               Calculations of Activity costs

Activity cost for University

Activity cost pool =  Activity  x  Activity rate

Customer deliveries  = 16 x 84 = 1344

Manual order processing = 0 x 78 = 0

Ele order processing = 18 x 17 = 306

Line time picking = 190 x 1.5 = 285

Total activity cost = 1935

Activity cost for Memorial

Activity cost pool =  Activity  x  Activity rate

Customer deliveries  = 28 x 84 = 2352

Manual order processing = 49 x 78 = 3822

Ele order processing = 0 x 17 = 0

Line time picking = 210 x 1.5 = 315

Total activity cost = 6489

4.      Calculation of Customer margin

                                                 University        Memorial

Sales revenue                           40660              40660

Less : Cost of goods sold        38000               38000

Gross Margin                            2660                   2660

Less : Activity cost                    1935                    6489

Customer Margin                      725                    -3829

In business, a message written to right a wrong is called a claim. Straightforward claims are those where the receiver is expected to readily agree with your message. These claims require a direct approach. To be an effective business communicator, you should familiarize yourself with the best practices for making direct claims and voicing complaints.

Required:
What should you include in the opening of a direct claim message?

Answers

Answer: A clear statement of the problem

Explanation:

The opening of a direct claim message should clearly state the problem that you would like to be addressed by the receiver and would set the tone for the rest of the message.

Claim messages are formal messages and as such, should be clear and concise so that the message is communicated effectively and there is a lesser chance of the message being misread. This is why the message should be clearly stated, so that the receiver understands it and responds in kind.

At which stage should Joan discuss the look and feel of her website with her website designer?
At the _____?______ stage, Joan should discuss the look and feel of her website with her website designer.

Answers

Answer:

Joan and Website Design

At the ____Visual ____Elements_____ stage, Joan should discuss the look and feel of her website with her website designer.

Explanation:

The visual elements stage details the visual style together with the visual brand that Joan has specified for her desired website.  At this stage, the site architecture with some content is already in place.  The website designer must have utilized such tools like style tiles, mood boards, and element collages to create the visual appeal that resonates with Joan's specifications and requirements.

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.

The GDP price index for this year is calculated by dividing the ______________using___________ by the ________ using _____________and multiplying by 100.

Answers

Answer:

a (B) Value of all goods and services produced in the economy this year

this year's prices

Value of all goods and services produced in the economy in the base year

by the base year's prices

Explanation:

Here is the complete question

The GDP price index for this year is calculated by dividing the (A) Value of all goods and services produced in the economy in the base year (B) Value of all goods and services produced in the economy this year (C) cost of a given market basket of goods and services using 2) ______ (A) the base year's prices (B) this year's prices by the 3) ________ A) Value of all goods and services produced in the economy in the base year (B) Value of all goods and services produced in the economy this year (C) cost of a given market basket of goods and services using 4) ______ (A) the base year's prices (B) this year's prices

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP price index = (nominal GDP / Real GDP ) X 100

Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

For example, country A produces 10 kg of rice at $10 per kg in 2019 and 50kg of beans at $30 per kg in 2018. In 2019, it produces 10 kg of rice at $20 per kg in 2019 and 50kg of beans at $40 per kg in 2019. 2018 is the base year.

Nominal GDP in 2018 = (10 x $10) + (50 x $30) = $1600

Nominal GDP in 2019 = (10 x $20) + (50 x $40) = $2200

Real GDP in 2018 = (10 x $10) + (50 x $30) = $1600

Real GDP in 2019 = (10 x $10) + (50 x $30) = $1600

GDP price index in 2019 =  nominal gdp in 2019 / real gdp in 2019 ) x 100

(2200 / 1600 ) x 100 = 137.5

Joint products Alpha and Beta emerge from common processing that costs $200,000 and yields 9,000 units of Product Alpha and 5,600 units of Product Beta. Product Alpha can be sold for $150 per unit. Product Beta can be sold for $90 per unit. What amount of the joint costs will be assigned to Product Beta if joint costs are allocated on the basis of number of units produced

Answers

Answer:

the amount of the joint cost allocated is $76,712.32

Explanation:

The computation of the amount of the joint cost allocated is shown below"

= Processing cost × beta units ÷ (alpha units + beta units)

= $200,000 × 5,600 units ÷ (9,000 units + 5,600 units)

= $76,712.32

Hence, the amount of the joint cost allocated is $76,712.32

Why do you think women occupy so few seats on boards of directors

Answers

Answer:

Women has always been discriminated against forever because of our sex. Men feel they should always be in charge so they should make more money

On March 9, Phillips gave Jackson Company a 60-day, 12% promissory note for $5,200. Phillips dishonors the note on May 8. Record the entry that Jackson would make when the note is dishonored, assuming that no interest has been accrued. Assume Jackson expects collection will occur. (Use 360 days for calculation. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round intermediate calculations to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 1,525.)

Answers

Answer:

Jackson Company

Journal Entries:

Debit Accounts Receivable (Phillips) $6,0687

Credit Notes Receivable $5,200

Credit Interest on Notes Receivable $867

To record the reversal of the dishonored promissory note and the accruing interest for 60 days.

Explanation:

a) Data and Calculations:

March 9, 12% Promissory Note Receivable = $5,200

May 8, Note dishonored

Interest on note = 12% of $5,200 * 60/360 = $867

b) The above entries are made with the hope that collection will be made from Phillips eventually.

Atul purchased goods costing Rs 50000 at an invoice price,which is 50% above cost.. on invoice price je enjoyed 15% trade discount and Rs 3750 cash discount on cash payment of goods in lump sum at the time of purchase ...the purchase price to be recorded in the books will be​

Answers

Answer: Rs 63750

Explanation:

Since Atul purchased goods costing Rs 50000 at an invoice price,which is 50% above cost. Then the purchase of the goods cost:

= 50000 × (100% + 25%)

= 50000 × 125%

= 50000 × 1.25

= Rs 75000

We then deduct the trade discount of 15% to get the purchase price to be recorded in the book. This will be:

= 75000 × (100% - 15%)

= 75000 × 85%

= 75000 × 0.85

= 63750

Therefore, the answer is Rs63750

Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm's accountant has provided the following data: Center Budgeted Revenue Actual Revenue Budgeted Direct Costs Actual Direct Costs Downtown $ 320,000 $ 340,200 $ 300,000 $ 300,000 Irvine 560,000 534,600 510,000 440,000 H. Beach 720,000 745,200 690,000 740,000 Totals $ 1,600,000 $ 1,620,000 $ 1,500,000 $ 1,480,000 WO's advertising, which is handled by the home office, is not reflected in the preceding figures and amounted to $60,000. Assume that management used the allocation base that is most influenced by advertising effort and consistent with sound managerial accounting practices. How much advertising would be allocated to the Irvine center

Answers

Answer: $19,800

Explanation:

Actual Revenue would be the most appropriate base to use because it is the most influenced by advertising effort and sound managerial practices.

Total actual revenue from all centers is $1,620,000.

Actual revenue for Irvine center is $534,600.

Advertising expenses to Irvine would be:

= Advertising cost * Actual revenue for Irvine / Total actual revenue for all centers

= 60,000 * 534,600 / 1,620,000

= $19,800

Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30, 2021, Paul sold 41,000 shares of common stock for cash. Paul also had 6,500 shares of convertible preferred stock outstanding throughout 2021. The preferred stock is $100 par, 5%, and is convertible into 3 shares of common for each share of preferred. Paul also had 430, 7%, convertible bonds outstanding throughout 2021. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at face value. Reported net income for 2021 was $280,000 with a 40% tax rate. Common shareholders received $1.30 per share dividends after preferred dividends were paid in 2021. Required: Compute basic and diluted earnings per share for 2021.

Answers

Answer:

A. Basic earning per share 2.24 per share

B. Diluted earning per share 2.07 per share

Explanation:

Computation for the basic and diluted earnings per share for 2021.

First step is to calculate the Weighted common share

Weighted common share = 100,000+(41,000*3/12)

Weighted common share=100,000+10,250

Weighted common share= 110,250 Shares

a) Calculation for Basic earning per share using this formula

Basic earning per share = (Net income-Preferred dividend) / Share outstanding

Let plug in the formula

Basic earning per share = [$280,000-(5%*100*6,500)/110,250

Basic earning per share=[$280,000-$32,500)/110,250

Basic earning per share=$247,500/110,250

Basic earning per share =2.24 per share

Therefore Basic earning per share for 2021 will be 2.24 per share

b) Computation for the diluted earnings per share for 2021.

Using this formula

Diluted earning per share = Adjusted net income/Adjusted diluted share

First step is to calculate the Adjusted net income

Adjusted net income = $280,000+(430*1000*7%*60%)

(100%-40%=60%)

Adjusted net income = $280,000+$18,060

Adjusted net income =$298,060

Second step is to calculate the Adjusted diluted shares

Adjusted diluted shares = 110,250 +(6,500*3)+(430,000/30)

(430*1,000=430,000)

Adjusted diluted shares = 110,250+19,500+14,333

Adjusted diluted shares = 144,083

Now let calculate Diluted earning per share by plugging in the formula

Diluted earning per share = 298,060/ 144,083

Diluted earning per share= 2.068 per share

Diluted earning per share=2.07 per share (Approximately)

Therefore The Diluted earning per share for 2021 will be 2.07 per share

Explain what boundaries are and why they are important in decision-making.

Answers

Answer:

boundaries are that invisible line in social structure that people try not to cross lest by accident.

Explanation:

When you are making decisions you always have to think of the outcome or else you could end up doing something bad or wrong. Boundaries in decisions making are so you don't just go and do whatever without thinking. we as humans subconsciously try not to cross other people's boundaries for mainly two reasons. The first is it makes people feel uncomfortable. The second is that it brings out our inner guilt. if you cross someone's boundaries you will most likely realize it imededietly and to to back off instinctively.

I hope this helps!

The world Street Journal published that United Airlines is not covering its cost (the cost include both fixed and variable cost) in the route from Washington to San Francisco and therefore they should discontinue the flight in this route. Based on the above situation answer the following questions: 1.Do you think United should continue its flight from Washington to San Francisco? Explain. 2. What are the major condition United needs to check before ‘shut down’ its operation Washington to San Francisco? Explain

Answers

Answer:

Following are the solution to the given points:

Explanation:

In question 1:

No, airline through Washington to San Fransisco should not continue. It is because the airline could recover its constant but varying expenses, as mentioned in the article. Service would therefore not be able to endure failure. The airline should therefore avoid driving.

In question 2:

To determine whether the airline should close down or not, the US should equate the price with both the Average total cost. Each airline is required to close down its activities if its cost is reduced than AVC. If the price is higher therefore the AVC price will continue. Since, as per the report, the airline cannot also cover its variable costs, its activities must be stopped.

2- A local car dealer is advertising two leasing options for its new XT 3000 series sports car. Option A: is a standard 24-month lease of $1150 per month. In addition, this option requires a down payment of $4500, plus a $1000 refundable initial deposit. In option A, the lease payments are due at the beginning of every month. For example, the first lease payment (equal to $1150) is due at the beginning of month 1. Option B: In this option, the company offers a 24-month lease plan that has only a single up-front payment of $31000 (which is paid at the beginning of month one) Note: The initial deposit in option A will be refunded to the customer at the end of month 24. Assume an interest rate of 6% compounded monthly. Which option is better for the customer

Answers

Answer:

A. Interest rates wouldn't be so high. Customer would be able to afford this lease better.

Marigold Corp. enters into a contract with a customer to build an apartment building for $1,069,900. The customer hopes to rent apartments at the beginning of the school year and provides a performance bonus of $153,300 to be paid if the building is ready for rental beginning August 1, 2021. The bonus is reduced by $51,100 each week that completion is delayed. Marigold commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by Probability August 1, 2021 70 % August 8, 2021 20 August 15, 2021 6 After August 15, 2021 4 Determine the transaction price for this contract.

Answers

Answer:

$1,193,562

Explanation:

Calculation to Determine the transaction price for this contract.

First step is to calculate the probabilities

Probabilities

August 1, 2021 =70 % *$153,300

August 1, 2021 =$107,310

August 8, 2021= 20%*$51,100

August 8, 2021= $10,220

August 15, 2021 =6%*$102,200

($153,300-$51,100)

August 15, 2021 =$6,132

After August 15, 2021= 4%*$0

After August 15, 2021= $0

Now let calculate the transaction price for this contract.

Total transaction price =$1,069,900+ $107,310+$10,220+$6,132+$0

Total transaction price =$1,193,562

Therefore the transaction price for this contract will be $1,193,562

Delisa Corporation has two divisions: Division L and Division Q. Data from the most recent month appear below:Total Company Division L Division QSales $ 541,000 $ 173,000 $ 368,000Variable expenses 323,720 117,640 206,080Contribution margin 217,280 55,360 161,920Traceable fixed expenses 111,910 38,710 73,200Segment margin 105,370 $ 16,650 $ 88,720Common fixed expenses 64,160Net operating income $ 41,210The break-even in sales dollars for Division Q is closest to:

Answers

Answer:

$173,000

Explanation:

The point at which a neither a profit or loss is made by a company is known as Break even point.

Break even (Sales dollars)

= Fixed cost / Contribution margin

Given that;

Fixed cost = $38,710

Contribution margin

= $55,360 / $173,000

= 0.32

Therefore,

Break even (Sales dollars)

= $55,360 / 0.32

= $173,000

The break even in sales dollars for Division Q is closest to $173,000

explain the rational accounting system in a business organization​

Answers

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what is the relative worth of goods

Answers

Relative Value in Consumption is measured as the relative cost of the amount of goods and services such as food, shelter, clothing, etc., that an average household would buy. Historically this bundle has become larger as households have bought more over time.

Auditory Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 13,000 Actual fixed overhead incurred: $742,000 Standard fixed overhead rate: $15 per hour Budgeted fixed overhead: $720,000 Planned level of machine-hour activity: 48,000 If Auditory estimates four hours to manufacture a completed unit, the company's fixed-overhead budget variance would be:

Answers

Answer:

$22,000 unfavorable

Explanation:

Calculation to determine the company's fixed-overhead budget variance would be:

Using this formula

Fixed-overhead budget variance=Actual fixed overhead incurred-Budgeted fixed overhead

Let plug in the formula

Fixed-overhead budget variance=$742,000 – 720,000

Fixed-overhead budget variance = $22,000 unfavorable

Therefore the company's fixed-overhead budget variance would be:$22,000 unfavorable

What do you need to file your taxes?

Answers

Answer:

w-2, Form 1040, and possibly Schedule (1... etc. )

Explanation:

Ajax is reviewing its previous 100% acquisition of Baxter to determine if there is goodwill impairment. At December 31, 2020 Ajax has recorded Goodwill of $330,000 on its books relating to this acquisition. At December 31, 2020, Baxter had a book value of net assets of $400,000 (excluding goodwill) and an estimated fair value for the company of $600,000. What is the amount (if any) of the goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020.

Answers

Answer:

Baxter

The amount of the Goodwill write-off required to be booked by Ajax at December 31, 2020 under the FASB rules effective in 2020 is:

= $130,000.

Explanation:

a) Data and Calculations:

Recorded Goodwill = $330,000

Book value of net assets = $400,000

Book value of all assets = $730,000 ($400,000 + $330,000)

Estimated fair value of company = $600,000

Goodwill impairment = $130,000 ($730,000 - $600,000)

b) The Goodwill impairment of $130,000 arose when the book value or the carrying amount exceeded the estimated fair value.

The following production data were taken from the records of the Finishing Department for June:

Inventory in process, June 1, 30% completed 4,000 units
Completed units during June 65,000 units
Ending inventory, 60% completed 65,000 units

The number of materials equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process, is:______

Answers

Answer:

the equivalent units of production related to the material is 126,000 units

Explanation:

The computation of the equivalent units of production related to the material is shown below:

= Completed units + Ending inventory units - Beginning inventory units.

= 65,000 units + 65,000 units -  4,000 units

= 126,000 units

hence, the equivalent units of production related to the material is 126,000 units

Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded
monthly, how much total will he have paid after 5 years?

Answers

Answer: He would have to pay 33,299.42$

Explanation:

A company purchased equipment valued at $190,000. It traded in old equipment for a $108,000 trade-in allowance and the company paid $82,000 cash with the trade-in. The old equipment cost $170,000 and had accumulated depreciation of $68,000. This transaction has commercial substance. What is the recorded value of the new equipment

Answers

Answer: $190,000

Explanation:

The recorded value of the new equipment will be the summation of the trade in allowance and the cash that was paid. This will be:

= $108,000 + $82,000

= $190,000

You are running a hypothetical e-business in this course. Suppose your company only have one employee and three customers who do not access your website frequently. Your company also does not need to process a lot of information; in this case, to save your money, which types of computers does your company need to fulfill such a computing need?

Answers

Answer:

do the challnge in brainly it gives u points !!!!

Explanation:

According to the given hypothetical e-business situation, simple personal computers can be used to fulfill the required computing needs.

What is e-business?

"E-business is an electronic business or transaction in which user shares the information online. In this, information, products, and services can be shared between business, groups, and individuals and considered as an essential activities."

What is personal computer?

"Personal computer is a computer which is a multi-purpose system and its size, capabilities and prize makes it feasible for individual use."

In the given situation, the analyses of data is less which can be fulfilled by the personal computers only and there is no need to purchase systems with special features. The employee can fulfill the requirements of current e-business with the help of any personal computer like desktop, laptop, etc.

To learn more about e-business and personal computer here

https://brainly.com/question/13165862

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The government of Uwannastan protects its newly privatized firms from foreign competition by imposing stringent barriers to international trade and foreign direct investment. As a result of this, the newly privatized firms will: have no control over production and pricing. import raw materials and many industrial goods at low tariffs. continue operating like State-owned enterprises continue operating like private companies under capitalism

Answers

Answer: Continue operating like State-owned enterprises

Explanation:

Newly privatized would imply that they were once government owned which means that they were probably monopolies. These new companies are protected from foreign competition which means that their goods will be the dominant ones in the economy.

They will therefore keep operating as though they are state-owned companies because their goods will be dominant making them monopolies which is what government owned companies usually are.

Jordan paid $30,000 for equipment two years ago and has claimed total depreciation deductions of $15,600 for the two years. The cost of repairs during the same time period was $2,000 while a major overhaul which extended the life of the equipment cost $7,000. What is Jordan's adjusted basis in the equipment at the end of the two-year period

Answers

Answer: $21400

Explanation:

Cost of equipment = $30,000

Depreciation = $15600

Cost of repairs = $2000

Overhaul = $7000

Jordan's adjusted basis in the equipment at the end of the two-year period will be:

= Equipment cost - Depreciation + Overhaul

= $30000 - $15600 + $7000

= $21,400

At the beginning of the current season on April 1, the ledger of Sandhill Pro Shop showed Cash $2,950; Inventory $3,500; and Common Stock $3,450. The following transactions were completed during April 2022.
Apr. 5 Purchased golf bags, clubs, and balls on account from Arnie Co. $2,500, terms 2/10, n/60.
7 Paid freight on Arnie purchase $80.
9 Received credit from Arnie Co. for merchandise returned $700.
10 Sold merchandise on account to members $1,340, terms n/30. The
merchandise sold had a cost of $920.
12 Purchased golf shoes, sweaters, and other accessories on account from
Woods Sportswear $1,050, terms 2/10, n/30. 14 Paid Arnie Co. in full.
17 Received credit from Woods Sportswear for merchandise returned $50.
20 Made sales on account to members $910, terms n/30. The cost of the
merchandise sold was $550.
21 Paid Woods Sportswear in full.
27 Granted an allowance to members for clothing that did not fit properly $70.
30 Received payments on account from members $1,400.
Journalize the April transactions using a perpetual inventory system.

Answers

Answer:

Sandhill Pro Shop

Journal Entries:

Apr. 5: Debit Inventory $2,500

Credit Accounts Payable (Arnie Co.) $2,500

To record the purchase of goods on account, terms 2/10, n/60.

Apr. 7: Debit Freight-in $80

Credit Cash $80

To record the payment for freight on goods.

Apr. 9: Debit Accounts Payable (Arnie Co.) $700

Credit Inventory $700

To record the return of goods on account.

Apr. 10: Debit Accounts Receivable $1,340

Credit Sales Revenue $1,340

To record the sale of goods on account, terms n/30.

Debit Cost of goods sold $920

Credit Inventory $920

To record the cost of goods sold.

Apr. 12: Debit Inventory $1,050

Credit Accounts Payable (Woods Sportswear) $1,050

To record the purchase of goods on account, terms 2/10, n/30.

Apr. 14: Debit Accounts Payable (Arnie Co.) $1,800

Credit Cash $1,764

Credit Cash Discounts $36

To record the full settlement on account.

Apr. 17: Debit Accounts Payable (Woods Sportswear) $50

Credit Inventory $50

To record the return of goods on account.

Apr. 20: Debit Accounts Receivable (Members) $910

Credit Sales Revenue $910, terms n/30.

To record the sale of goods to members.

Debit Cost of goods sold $550

Credit Inventory $550

To record the cost of goods sold.

Apr. 21: Debit Accounts Payable (Woods Sportswear) $1,000

Credit Cash $980

Credit Cash Discounts $20

To record full settlement on account.

Apr. 27: Debit Sales Allowances $70

Credit Accounts Receivable (Members) $70

To record the sales allowances granted members for improperly fit clothing.

Apr. 30: Debit Cash $1,400

Credit Accounts Receivable (Members) $1,400

To record the receipt of cash from members on account.

Explanation:

a) Data and Analysis:

Apr. 5: Inventory $2,500 Accounts Payable (Arnie Co.) $2,500, terms 2/10, n/60.

Apr. 7: Freight-in $80 Cash $80

Apr. 9: Accounts Payable (Arnie Co.) $700 Inventory $700

Apr. 10: Accounts Receivable $1,340 Sales Revenue $1,340, terms n/30.

Cost of goods sold $920 Inventory $920

Apr. 12: Inventory $1,050 Accounts Payable (Woods Sportswear) $1,050, terms 2/10, n/30.

Apr. 14: Accounts Payable (Arnie Co.) $1,800 Cash $1,764  Cash Discounts $36

Apr. 17: Accounts Payable (Woods Sportswear) $50 Inventory $50

Apr. 20: Accounts Receivable $910 Sales Revenue $910, terms n/30.

Cost of goods sold $550 Inventory $550

Apr. 21: Accounts Payable (Woods Sportswear) $1,000 Cash $980 Cash Discounts $20

Apr. 27: Sales Allowances $70 Accounts Receivable $70

Apr. 30: Cash $1,400 Accounts Receivable (Members) $1,400

Ely Company has two support departments, Maintenance Department and Personnel Department, and two producing departments, X and Y. The Maintenance Department costs of $60,000 are allocated on the basis of standard service hours used. The Personnel Department costs of $9,000 are allocated on the basis of number of employees. The direct costs of Departments X and Y are $18,000 and $30,000, respectively. Data on standard service hours and number of employees are as follows:

Data on standard service hours and number of employees are as follows:
Maint. Person. Dept. Dept.
Dept. Dept. X Y
Standard service hours used 100 50 300 150
Number of employees 5 10 45 45
Direct labor hours 50 50 250 250

Predetermined overhead rates for Departments X and Y, respectively, are based on direct labor hours.

What is the overhead rate for Department Y assuming the direct method is used?

a. $120.00
b. $218.00
c. $109.00
d. $250.00

Answers

Answer:

b. $218.00

Explanation:

Calculation to determine the overhead rate for Department Y assuming the direct method is used

First step

Department Y$30,000

Maintenance Department $20,000

($60,000 × 150/450)

Personnel Department $4,500

($9,000 × 45/90)

Total $54,500

Now let calculate the overhead rate for Department Y

Department Y Overhead rate=$54,500/250

Department Y Overhead rate = $218

Therefore the overhead rate for Department Y assuming the direct method is used will be $218

On January 1, 2018, Advanced Airline purchased a used airplane at a cost of $60,500,000. Advanced Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,500,000. Advanced Airline expects the plane to be flown 1,100,000 miles the first year and 1,200,000 miles the second year.

Requirements
1.​Compute first-year (2019) depreciation expense on the plane using the following methods:
a.​Straight-line
b.​Units-of-production
2.​Show the airplane’s book value at the end of the first year for the two methods.

Answers

Answer:

Results are below.

Explanation:

First, we need to calculate the annual depreciation using the straight-line method:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (60,500,000 - 5,500,000) / 8

Annual depreciation= $6,875,000

Now, using the units of production method:

Annual depreciation= [(original cost - salvage value)/useful life of production in miles]*miles operated

Annual depreciation= [(55,000,000 / 5,000,000)]*1,100,000

Annual depreciation= $12,100,000

Finally, the book value:

Book value= purchase price - accumulated depreciation

Straight-line:

Book value= 60,500,000 - 6,875,000= $53,625,000

Units-of-production:

Book value= 60,500,000 - 12,100,000=  $48,400,000

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