DiSalvio Co. uses a job order cost system. The following data summarize the operations related to production for May:a. Materials purchased on account, $634,000.b. Materials requisitioned, $646,200, of which $74,500 was for general factory use.c. Factory labor used, $660,200, of which $91,200 was indirect.d. Other costs incurred on account for factory overhead, $147,500; selling expenses, $234,000; and administrative expenses, $146,400.e. Prepaid expenses expired for factory overhead were $29,200; for selling expenses, $26,800; and for administrative expenses, $18,000.f. Depreciation of office building was $84,600; of office equipment, $43,340; and of fac-tory equipment, $32,000.g. Factory overhead costs applied to jobs, $362,000.h. Jobs completed, $1,002,000.i. Cost of goods sold, $890,000.InstructionsJournalize the entries to record the summarized operations.SHOWME HOWGeneral Ledger Chapter 2 Job Order Costing 69Ex 2-18PR

Answer:

Date          Account Description                                     Debit              Credit

May 1         Material inventory                                     $634,000

                 Accounts Payable                                                            $634,000

Date          Account Description                                     Debit                Credit

May 2        Work in Process (646,200 - 74,500)       $571,700

                 Factory Overhead                                      $74,500

                 Materials                                                                            $646,200

Date          Account Description                                     Debit                Credit

May 31       Work in Process (660,200 - 91,200)       $569,000

                 Factory Overhead                                      $91,200

                 Materials                                                                            $660,200

Date          Account Description                                     Debit                Credit

May 31      Factory Overhead                                     $147,500

                Selling expenses                                       $234,000

                Admin expenses                                       $146,400

                Accounts payable                                                             $527,900

Date          Account Description                                     Debit                Credit

May 31      Factory Overhead                                     $29,200

                Selling expenses                                       $26,800

                Admin expenses                                       $18,000

                Prepaid expenses                                                               $74,000

Date          Account Description                                     Debit                Credit

May 31      Depreciation expense - Office building     $84,600

                Depreciation expense - Office equipment $43,340

                Factory Overhead                                        $32,000

                Accumulated depreciation                                                $159,940

Date          Account Description                                     Debit                Credit

May 31       Work in Process                                          $362,000

                 Factory Overhead                                                            $362,000

Date          Account Description                                     Debit                Credit

May 31       Finished Goods                                        $1,002,000

                  Work in Process                                                            $1,002,000

Date          Account Description                                     Debit                Credit

May 31       Cost of goods sold                                     $890,000

                 Finished Goods                                                                $890,000

Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,000,000 in cash immediately. 2. Pay $420,000 immediately and the remainder in 10 annual installments of $80,000, with the first installment due in one year. 3. Make 10 annual installments of $135,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,500,000 five years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at an 8% interest rate. (Round your final answers to nearest whole dollar amount.)

Applying the midpoint formula, what is the price elasticity of demand if a drop in the price of energy drinks from $2 to $1 per can leads to an increase in the quantity demanded from 100 million to 150 million cans

Applying the research findings to a marketing strategy plan is the ______ step in the marketing research process. Multiple choice question.

Purpose: Organization design refers to the overall set of elements used to configure an organization. The purpose of this exercise is to give you insights into how managers must make decisions within the context of creating an organization design. Introduction: Whenever a new enterprise is started, the owner must make decisions about how to structure the organization. For example, he or she must decide what functions are required, how those functions will be broken down into individual jobs, how those jobs will be grouped back together into logical departments, and how authority and responsibility will be allocated across positions. Instructions: Assume that you have decided to open a handmade chocolate business in your local community. Your products will be traditional bars and novelty-shaped chocolates, truffles, other chocolate products such as ice cream, and gift baskets and boxes featuring chocolates. You have hired a talented chef and believe that her expertise, coupled with your unique designs and high-quality ingredients, will make your products very popular. You have also inherited enough money to get your business up and running and to cover about one year of living expenses in other words, you do not need to pay yourself a salary). You intend to buy food items including chocolate, cocoa, white chocolate, nuts, and fruit from suppliers who deliver to your area. Your chef will then turn those ingredients into luscious​

Why did Steve and Vic focused on smaller cities rather than Silicon Valley

Extended warranties

Carnes Electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. At the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. During the year, Carnes received $412,000 for these extended warranties (approximately evenly throughout the year).

Required:

1.Does this situation represent a loss contingency? Why or why not? How should it be accounted for?

2.Prepare journal entries that summarize sales of the extended warranties (assume all credit sales) and any aspects of the warranty that should be recorded during the year.

Duffy-Deno (2003) estimated that the demand function for broadband service was Qs = 15.6p−0.563 for small firms and Ql = 16.0p−0.296 for larger ones. These two demand functions cross. What can you say about the elasticities of demand on the two demand curves at the point where they cross? What can you say about the elasticities of demand more generally (at other prices)? (Hint: The question about the crossing point may be a red herring. Explain why.)