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3 years ago

Blue Company reports the following costs and expenses in May.

Business

1 answer:

Inessa [10]3 years ago

7 0

Answer:

(a) Manufacturing overhead = $176,700

(b) Product costs = $390,400

(c) Period costs = $72,390

Explanation:

a. The computation of the manufacturing overhead is shown below:

= Factory utilities + Depreciation on factory equipment + Property taxes on factory building + Indirect factory labor + Indirect materials + Factory repairs+ Factory manager salary

= $17,000 + $13,950 + $2,600 + $49,900 + $82,600 + $2,350 + $8,300

= $176,700

b. The computation of the product cost is shown below:

= Direct materials used + Direct labor + manufacturing overhead

= $141,700 + $72,000+ $176,700

= $390,400

c. The computation of the period cost is shown below:

= Sales salaries + Depreciation on delivery trucks + Repairs to office equipment + Advertising + Office supplies used

= $47,500 + $4,700 + $1,900 + $15,500 + $2,790

= $72,390

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A company pays each of its two office employees each Friday at the rate of $210 per day for a five-day week that begins on Monda

marusya05 [52]

Answer:

Correct answer is:

Debit Salaries Expense $840

Credit Salaries Payable $840

Explanation:

2 employees each paid at $ 210 per day so daily salary expense is $210*2 = $420.

The accounting period ends on Tuesday and both employees work for Monday and Tuesday so the 2 days salaries expense is $420*2= $840.

As the salaries are paid on every Friday so there is a liability on a company for the 2 days salary payable to be recorded on accounting period close date i.e Tuesday.

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2 years ago

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What is the difference between gross income, taxable income, and adjusted gross income?

melisa1 [442]

Answer:

Here is what I found, I hope it helps

Explanation:

Gross Income contains all money you earn that is not expressly removed from taxation under the Internal Revenue Code (IRC). The part of your gross income which is currently subjected to taxes is Taxable Income. To arrive at the number of Taxable Income, expenses are deducted from gross income. For a year, your Gross Income applies to all your pre-tax earnings, while your Adjusted Gross Income is mostly smaller and refers to your income after tax deductions. I could not find the difference between Adjusted Gross Income and Taxable Income.

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3 years ago

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Review 4: AIMS Science Practice

Zolol [24]

Answer:

D. It has both good and bad effects, but we can't always predict what those are.

Explanation:

Of course, ethics mandates that the target of science and new technology should always pursue the good for humans; nevertheless, since time immemorial man has developed technology to make war. Thus, definetely, the first statement "A It always does good for human" is false.

Some other negative effects of new technology, like cars and nuclear power, have been harmful to the environment, but you cannot tell that this has always been so. Technology has also been developed to help the environment. For instance, panels to use solar energy do not harm the environment and seek to reduce fuel burning to help the environment. Thus, option B, "It always ends up doing harm to the environment" is false too.

Some of the damage that new technology can produce are not predicted both because the technology is new and because it may be used with different goals to those it was developed. This explains why option C, It has many bad effects, is false, and option D, "It has both good and bad effects, but we can't always predict what those are", is true.

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3 years ago

In order for money to work properly, there can be only a certain amount of it in

tino4ka555 [31]

A.limited supply hope that helps

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2 years ago

Haskins Company employs material handling employees who move materials between production divisions at a labor cost of $360,000

Marianna [84]

Answer:

correct option is a. $36,000

Explanation:

given data

labor cost = $360,000

move material per year = 600,000 pounds

to find out

material handling cost

solution

we find here first Labor Cost per pound of material that is express as

Labor Cost per pound of material = Labor Cost ÷ Number of Pounds of material .......................1

Labor Cost per pound of material = $\frac{360000}{600000}$

Labor Cost per pound of material = $ .6 per pound of material

=360000/600000= $0.6 per pound of material

so we can say that 60000 pounds are moved in March so cost will be

60000 pounds are move cost = 60000 × $0.6

60000 pounds are move cost = $36000

so correct option is a. $36,000

7 0

3 years ago