In a job order cost system, factory wage expense is debited to work in process inventory.
Explanation:
The costing of job orders is a system for assigning and accumulating production costs for a single production unit. When different produced items differ enough and each has considerable costs, the job order costing system is used.
The costs of each jobs include direct materials, direct work and production overhead in order to summarize the cost system for jobs. While the product is being produced, the process inventory includes direct materials and direct labor costs.
According to the new tax regulation, the federal tax that is to be paid on $17,000 is $1,100.
Answer:
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Explanation:
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Answer :
Number board feet of lumber = 54,530
Explanation :
As per the data given in the question,
Number board feet of lumber to buy in June = Number of units to be produced + Ending inventory required - Opening inventory needed
= (2,000 cases × 28 board feet of lumber per case) + (1,850 cases × 35% × 28 board feet to lumber per case) - (2,000 cases × 35% × 28 board feet of lumber per case)
=56,000 board feet + 18,130 board feet - 19,600 board feet
= 54,530 board feet of lumber
We simply applied the above formula
A company would likely outsource service or manufacturing to reduce service or production costs; this is why a majority of consumer products are made in east Asian countries, as they have very low manufacturing and labor costs. However, these cheap goods and services tend to have lower quality and/or performance when compared to their domestic, higher-priced counterparts. In short, outsourcing is generally used to cut costs, but the quality of goods or services typically suffers to some degree.