Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for e
ach employee hour worked. Direct materials are assigned to each job according to actual cost. If Job M-47 used $330 of direct materials and took 20 direct labor hours of labor to complete, what is the total cost that should be assigned to the job?
<span>The states that were in the southern region receive more of then revenue from the federal government than most other states. The five most dependent states are New Mexico, Mississippi, Kentucky, Montana and Alabama.</span>
Aug 1. The transaction relates to owner's investment in the business/company thus we debit the cash coming into the business and credit common stock as both are increasing.
Aug 4. The insurance paid in advance is a current asset for the business. So, we debit the prepaid insurance account as the asset is increasing and credit the cash account as it is decreasing due to payment for insurance.
Aug 16. 400 received is the service revenue and as the revenue is increasing, we credit it. We are receiving cash so we debit the cash account.
Aug 27. The payment of salary is an expense and as expense is increasing, we debit the salary expense account and credit the cash account as cash is decreasing.
