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2 years ago

Salaries of managers and maintenance personnel are examples of ______ labor costs.

Business

1 answer:

Inessa05 [86]2 years ago

5 0

Salaries of managers and maintenance personnel are examples of indirect labor costs.

What is the difference between direct and indirect labor costs?

Direct labor costs are traceable directly to the finished goods produced whereas the indirect labor costs such as the salaries of managers and maintenance personnel are good examples of indirect labor costs since their efforts cannot be traced to finished goods.

There is a need to determine direct labor costs, because indirect labor costs are not prime cost, which are used in determining the contribution per unit

Find out more about labor costs on:brainly.com/question/24303619

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Full question with options:

Salaries of managers and maintenance personnel are examples of ______ labor costs. a) indirect b) direct.

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Answer:

Income(Loss) $960,600;($397,400)

Explanation:

EXECUTIVE SOLUTIONS

Budgeted Income Statement

May June

Revenues:

Managers$1,231,900 $795,400

Staff $3,171,900 $2,250,400

Total revenue (i)$4,403,800 $3,045,800

Expenses:

Manager

compensation$749,300 $749,300

Staff compensation$1,558,400 $1,558,400

Total

compensation (ii)$2,307,700 $2,307,700

SG&A $553,500 $553,500

Depreciation $228,500 $228,500

Marketing $353,500 $353,50

Total

expenses (iii)$1,135,500 $1,135,500

Income(Loss)

(i)-(ii)-(iii) $960,600 ($397,400)

BMay June

Revenues:

Managers

[1,270 hours x $ 970] $1,231,900

[820 hours x $970] $795,400

Staff

[ 6,540hours x $485] $3,171,900

[4,640 hours x $485] $2,250,400

Expenses:

Manager compensation$749,300 $749,300

[2,540 hours x $295]

Staff compensation $1,558,400 $1,558,400

[9,740 hours x $160]

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3 years ago

Costs being equal, when a firm has a higher value gap than its competitor, it can be inferred that the firm:

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Can charge a premium price for its items or goods and also for administrations charges usually termed as services .
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3 years ago

As of December 31, 2016, Nala Incorporated reported accounts receivable for $275,000 less allowance for doubtful accounts of $27

Rudik [331]

Answer:

a. 1. Debit Accounts receivable $180,000

Credit Sales $180,000

2. Debit cash $125,000

Credit Accounts receivable $125,000

3. Debit Sales return $20,000

Credit $20,000

4. Debit Provision for bad debts expense $35,000

Credit Accounts receivable $35,000

5. Debit Accounts receivable $ $2,500

Credit Provision for bad debts expense $2,500

Debit Cash $2,500

Credit Accounts receivable $2,500

B. Debit Bad debts expense $27,500

Credit provision for bad debt expense $27,500

Explanation:

1. Sale on account will increase the accounts receivable. So we have to debit accounts receivable and credit to sales in the amount of $180,000

2. Collections will decrease the accounts receivable due payments made by the customer. So we have to debit cash and credit accounts receivable by $125,000

3. Sales return is a contra asset account that will decrease the accounts receivable and also the net sales. So we will debit sales return and credit accounts receivable in the amount of $20,000

4. Write offs will decrease the provision for bad debts account as well as the accounts receivable accounts by $35,000

5. Recovery of bad debts previously written off has no effect in accounts receivable but will increase the provision for bad debts due to reversal of entry previously made. First, we will reverse the original written off entry. Debit Accounts receivable and credit provision for bad debts expense in the amount of $2,500. Then we will record the collection by debiting cash and crediting accounts receivable in the amount of $2,500

B. Let’s determine the balance of accounts receivable first,

Beg. $275,000 + 180,000 sale on account - 125,000 collection - 20,000 sales return - 35,000 write-off = $275,000

Therefore, $275,000 x 10% = $27,500

Entry:

Debit Bad debts expense $27,500

Credit provision for bad debts expense $27,500

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