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Ganezh [65]
3 years ago
12

On March 9, 2018, Job XX4 was completed. The job cost sheet showed a total of $6,000 in direct materials and $8,000 in direct la

bor at a rate of $20 per direct labor hour. Factory overhead is applied at $30 per direct labor hour. The debit to Finished Goods Inventory to record the completion of Job XX4 is
(A) $11,000.
(B) $17,000.
(C) $26,000.
(D) $6,000.
Business
1 answer:
Semenov [28]3 years ago
5 0

Answer:

(C) $26,000.

Explanation:

The debit to Finished Goods Inventory to record the completion of Job XX4 is the total cost for Job XX4 completion;

The job cost sheet showed $8,000 in direct labor at a rate of $20 per direct labor hour, then the total labor hour taken is 400 hours (= $8,000/ $20)

Factory overhead is applied at $30 per direct labor hour, then the total overhead is $12,000 (= 400 hours x $30 per hour)

The total cost = direct materials + direct labor + overhead = $6,000 + $8,000 + $12,000 = $26,000

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Prior to adjustment at August 31, Salary Expense has a debit balance of $322,200. Salaries owed but not paid as of the same date
Phantasy [73]

Explanation:

The Journal entry is shown below:-

a. Salary Expense Dr,             $2,550

          To salaries payable                $2,550

(Being accrual of salary is recorded)

b. Income summary Dr,           $324,750

        To Salary expense                    $324,750

($322,200 + $2,550)

(Being closing of salary expense is recorded)

4 0
4 years ago
In a certain year, the aggregate amount demanded at the existing price level consists of $100 billion of consumption, $40 billio
Masteriza [31]

Answer:

The correct answer is A. increase tax rates and/or reduce government spending.

Explanation:

Increasing the tax burden is an easy way for the state to increase its income temporarily and subject matter, but it turns out that increasing the tax burden affects productivity and consumption, so in the end the income of the productive sector is diminished, and more taxes on a lower taxable base does not imply increasing revenues.

When a government decides to reduce public spending for a fiscal balance, it is limited to reducing the social assistance and social security, but not to reduce the bureaucratic apparatus that curiously is usually high in countries with economic crisis, and also Be a source of corruption corruption.

7 0
4 years ago
Stadford, Inc. is financed with 40 percent debt and 60 percent equity. This mixture of debt and equity is referred to as the fir
miss Akunina [59]

Answer: (A) Capital structure

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The equity is basically refers to the common and the preferred stock and the debt is one of the form of bond issue.

Therefore, the mixture of 40 percent debt and the 60 percent of the equity is refers to capital structure.

3 0
3 years ago
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