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andrezito [222]
2 years ago
12

Recording Factory Labor Costs A summary of the time tickets for January is as follows: Job No 3467 3470 3471 Amount Job No.Amoun

t 3478 3480 3497 3501 $6,829 3,438 11,273 21,352 $9,106 9,891 12,638 17,474 Indirect labor
a. Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for January
b. Illustrate the effect on the accounts and financial statements of the factory labor costs transferred in.
Business
1 answer:
worty [1.4K]2 years ago
8 0

Answer:

Work in process = $70649

Factory overhead = 21,352

Explanation:

A.

Factory labor cost transferred to Work in process is the sum of all direct labor cost incurred

Factory labor cost transferred to Factory Overhead is the sum of all indirect labor cost incurred

Work in Process = $6,829 + $3,438 + $11,273 + $9,106 + $9,891 + $12,638 + $17,474

Work in process = $70649

Factory overhead = 21,352

B.

Balance sheet

Assets                                   = liabilities    +        Capital

$70649 + $21,352                =  92,001           No Effect

Statement of cashflow = No Effect

Income statement = No Effect

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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $47,500.
Doss [256]

Answer:

Dep expense for the second year 7,600

Explanation:

\left[\begin{array}{ccccc}Year&Beginning&Dep-Expense&Acc. \: Dep&Ending\\0&-&-&-&47500\\1&47,500&9,500&9,500&38,000\\2&38,000&7,600&17,100&30,400\\\end{array}\right]

1/10 = straight-line method

straight-line x 2 = DD rate

47,500 x 2/10 = 9500

then we calculate the DD rate again with the book value

47,500-9,500 = 38,000

38,000 x 2/10 = 7,600

6 0
2 years ago
Hi, Sierra,
hichkok12 [17]

Answer:

Question requires that you find five sentence fragments, one dangling modifier, one passive-voice sentence, and one parallelism fault.

Sentence Fragment

A sentence fragment is so because it is either missing a subject, or a verb, and/ or a complete thought. It is therefore an incomplete sentence.

  • 5. Although no clear line separates fun from profit or a hobby from a business.
  • 12. If you spend eight or more hours a day trading on eBay.
  • 17. If you spend $5 for a garage sale vase and sell it for $50.
  • 18. The IRS would probably consider this a business transaction.
  • 20. Even for eBay sellers who are just playing around. (not a proper sentence)

Dangling Modifier

Attempts to modify an unclear word in the sentence

  • 19. All profits are taxable.

It is unclear what profits the sentence alludes to.

Passive-voice sentence

In Passive voice, the subject of the text is the one that is being acted upon.

  • 13. The IRS would tend to think you are in a business.

Parallelism Fault

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  • 3. As you are probably already aware, you can use eBay or one of the other sellers to clean out your closets or to run a small business.
5 0
2 years ago
A manufacturing company producing medical devices reported $60,000,000 in sales over the last year. At the end of the same year,
kumpel [21]

Answer:

a) The company turn its inventory at 1.5.

b) Per unit inventory cost for a product that costs $1000 is $166.67.

Explanation:

a) number of units sold = ($60000000/year)*(1 unit/$2000)

                                       = 30000 units/year

COGS = 30000 units/year*$1000/unit

           = $30000000/year

inventory = $20000000

flow time = inventory/flow rate

                = $20000000/30000000 per year

                = 0.67 years

inventory turns = 1/flow rate

                          = 1/(0.67)

                           = 1.5

Therefore, The company turn its inventory at 1.5.

b) %inventory cost per computer = 25%*0.6667 years

                                                       = 16.667%

16.667%*$1000 = $166.67 per unit

Therefore, Per unit inventory cost for a product that costs $1000 is $166.67.

8 0
2 years ago
QS 11-6 Recording employer payroll taxes LO P3 Merger Co. has 10 employees, each of whom earns $1,550 per month and has been emp
Gre4nikov [31]

Answer:

March 31, 202x, payroll tax expenses

Dr FICA tax (OASDI) expense 961

Dr FICA tax (Medicare) expense 224.75

Dr FUTA tax expense 93

Dr SUTA tax expense 837

    Cr FICA tax (OASDI) payable 961

    Cr FICA tax (Medicare) payable 224.75

    Cr FUTA tax payable 93

    Cr SUTA tax payable 837

Explanation:

Since we are calculating only payroll taxes, the wages expense is not included in this journal entry.

total payroll for the 10 employees = 10 x $1,550 = $15,500

each employee has accumulated earnings of $1,550 x 3 = $4,650

4 0
2 years ago
This case explores some issues related to entering a new foreign market and describes the strategies that one UK firm is using t
gizmo_the_mogwai [7]

Answer:  Megabus being a late mover in the US, has allowed the company to learn from past mistakes by companies such as Greyhound, who filed for bankruptcy in the mid 90's and who lost most of it's business due to poorly maintained terminals, high prices for fares and unsafe conditions. Mega bus's advantages include fares as lows as 1 dollar, free wi-fi, stylish buses and power outlets. They Can offer these low fares since the company eliminated purchase Windows for tickets, selling tickets online only and by eliminating expensive terminal operations by dropping off and picking up riders at sidewalk stops like public bus operators. There are few disadvantages besides the fact that rising gas prices affect travel and low fare prices affect revenue if quantity is not met   .

Advantages - 1. Affordable  2. Pretty scenery 3.You get what you paid for

Disadvantages-1. Uncomfortable 2. It’s Either Freezing or Sweltering  3. Odd People

2. Yes it has own Overwhelming resources and capabilities  3. Train

Explanation:

4 0
2 years ago
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