Answer:
for cash payment
Explanation:
the debit voucher are the documentry evidence of cash payment the voucher are prepared to keep records of various cash payment
Answer:
the budgeted direct labor cost per unit is $54
Explanation:
The computation of the budgeted direct labor cost is shown below:
= Required number of direct labor hours × rate per direct labor hour
= 3.6 hours × $15
= $54
hence, the budgeted direct labor cost per unit is $54
We simply multiplied the two items so that the budgeted direct labor cost per unit could come
Answer:
The below statements in quote are missing from the question.
“The advertised CD renewal rate is 6.13 percent. Antonio knows the in-store financing costs would not affect his taxes but he knows he’ll pay taxes (25% federal and 5.75% state) on the CD interest earnings. Should he cash the CD or use in-store financing? Why?”
Antonio should cash in the CD to pay for the golf clubs rather than opt for in-store financing arrangement,because after tax rate of CD is 4.25% which less than the cost of in-store financing at 5.23%
Explanation:
The interest on CD before tax deductions is 6.13%
Total tax percentage due Federal and State governments = 25% + 5.75% = 30.75%
After tax rate of CD = 6.13%(1 - .3075) = 4.25%
Answer:
Cash A/c Dr $15,000
To Notes payable A/c $15,000
(Being the bank borrowing through a note payable is recorded)
Explanation:
The journal entry is shown below:
Cash A/c Dr $15,000
To Notes payable A/c $15,000
(Being the bank borrowing through a note payable is recorded)
This transaction increases the cash balance so the cash account should be debited and the note payable account should be credited as it creates a liability which is to be reflected in the balance sheet
Answer:
The list of items are as follows:
1. Salaries for assembly line inspectors - direct labor or manufacturing overhead
2. Insurance on factory machines - manufacturing overhead
3. Property taxes on the factory building - manufacturing overhead
4. Factory repairs - manufacturing overhead
5. Upholstery used in manufacturing furniture - direct materials
6. Wages paid to assembly line workers - direct labor
7. Factory machinery depreciation - manufacturing overhead
8. Glue, nails, paint, and other small parts used in production - manufacturing overhead
9. Factory supervisors’ salaries - manufacturing overhead
10. Wood used in manufacturing furniture - Direct materials