Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please answer all four questions!! THANK YOU:))) The Pierce Company started operations this month and had the following transactions: 1 Owners invested $45,000 to start
Please answer all four questions!! THANK YOU:)))
The Pierce Company started operations this month and had the following transactions: 1 Owners invested $45,000 to start company 1 Purchased a twelve month insurance policy for $3,000 12 Purchased $500 of supplies on account 20 Customers paid for $400 of services in advance. 25 Completed $3,200 of services for another customer. 30 Paid $6,800 in employee payroll. At the end of the month, $125 of supplies were on still hand. What amount of total assets does the company have at the end of the month? The Doyle Company buys microphones for $75 and sells them for $125 each; the company has the following sales forecast: October 240 units November 190 units December 320 units Ending inventory for each month should be 10% of the next month's sales. The company had 38 units of inventory and $136,000 in cash on October 1st. The company has rent of $2,500 and fixed payroll of $6,200 each month. For December, what budgeted net income would appear in the company's budgets? The Maris Company borrowed $1,200 on January 1, 2020 at an annual rate of interest of ten percent. The loan has a three-year term and the company will not make any payments until the end of the term. What amount of interest expense will the company record on December 31, 20222 Round your final answer to the nearest whole dollar and enter as a positive number The Rose Company developed the following standards for the manufacture of its product: Each unit should have 1.5 pounds of direct materials purchased at $8 per pound. Each unit should be produced in 1 minute at a direct labor cost of $12 per hour Actual production was 30,000 units using 44,000 pounds of direct materials at a total cost of $355,000 and required 580 direct labor hours at a total cost of $7.200. What was the direct materials quantity for the company? Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started