Answer:
Requirement: Prepare the entry to record the sales transactions and related taxes.
1. Date Account Titles and Explanation Debit Credit
Apr. 10 Cash $30,975
Sales Revenue $29,500
Sales Tax Payable $1,475
(To record Cash sales along with sales tax)
2. Date Account Titles and Explanation Debit Credit
Apr. 15 Cash $18,530
Sales Revenue $17,000
Sales Tax Payable $1,530
(To record Cash sales along with sales tax)
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<u>Workings</u>
- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530
- Sales Without Sales Tax = $18,530 - $1,530 = $17,000
Answer:
For a company’s compensation strategy to be effective, it must be linked to the overall business strategy. Because compensation accounts for 30-60% of business costs, it is essential for organizations to identify the drivers behind pay. For this reason, the foundational step of creating any solid compensation strategy is linking it to the business strategy.
Explanation:
Answer:
Instructions are below.
Explanation:
Giving the following information:
According to the standard cost card, each helmet should require 0.55 kilograms of plastic, for $7.00 per kilogram.
First, we need to calculate the standard quantity of plastic to make 3,600 units.
Standard quantity= standard direct material required per unit* numbers of units
Standard quantity= 0.55*3,600= 1,980 kg
Now, we can determine the standard cost:
Standard cost= 1,980kg* $7= $13,860
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