How much does the United States spend on clothes each day?

On may 31, 2022, hughes construction recorded $50,000 in bonds payable, $30,000 in notes payable, $9,000 in wages payable, $3,00

Andrej [43]

All of them represent liabilities that must be paid back at some specified point in the future.

<h3>What are liabilities?</h3>

Liabilities are financial obligation of a company that results in the company's future sacrifices of economic benefits to other entities.

There are various reason why a company would incur liabilities:

Human error.
Environmental damage.
Defective product/work.
Natural hazards.

Hence, all of the above represent liabilities that must be paid back at some specified point in the future.

Learn more about liabilities here: brainly.com/question/2819860

7 0

2 years ago

Physical activity is defined as:

charle [14.2K]

a. any type of activity that requires movement

Physical activity is defined as any type of activity that requires movement. The other responses represents some form of physical activitity, but they do not define what the words actually means. Grocery shop is not a sport nor a planned activity, but it is still a physical activity, so with this example it is possible to deduce that any type of activity that requires movement is a physical activity.

5 0

3 years ago

Helpppp me please !!!!!!!

natita [175]

Your answer is A.)

hope this helps my love.

te amo

7 0

3 years ago

Which costs can be directly traced to the product being manufactured? Group of answer choices Direct Costs Period Costs Sunk Cos

Vlad1618 [11]

Answer:

The correct answer is: direct costs.

Explanation:

The direct costs are the costs that can be easily traced to the goods or services or projects. It includes material and labor cost and distribution cost incurred in the production of a product.

It is contrasted to indirect costs which cannot be traced to a product and is not directly linked to a product.

The sunk costs are cost which has already been incurred are no longer relevant for economic decisions.

Fixed costs are the costs that do not vary with the change in the volume of product.

So, the direct cost is the correct answer.

5 0

3 years ago

aw materials purchased on account, $210,000. Raw materials used in production, $190,000 ($178,000 direct materials and $12,000 i

WITCHER [35]

Answer:

raw materials 210,000 debit

account payable 210,000 credit

--to record purchase of raw materials on account--

WIP 178,000 debit

Manufacturing overhead 12,000 debit

Raw materials 190,000 credit

-- to record use of materials during the period--

WIP 90,000 debit

Manufacturing overhead 110,000 debit

Wages payable 200,000 credit

-- to record accrued labor during the period--

Manufacturing overhead 40,000 debit

Accumulated depreciation equipment 40,000 credit

-- to record accrued labor during the period--

Manufacturing overhead 70,000 debit

Account payable 70,000 credit

--to record other overhead cost accrued--

WIP 240,000 debit

Manufacturing Overhead 240,000 credit

--to record applied overhead--

Finished Goods 520,000 debit

WIP 520,000 credit

--to record transferred-out goods for the period--

Accounts receivable 600,000 debit

Sales Revenue 600,000 credit

--to record sales revenue--

COGS 480,000 debit

Finished Goods 480,000 credit

--to record cost of goods sold --

Overhead

Debit Credit

12,000

110,000

40,000

70,000

Balance: 8,000

WIP

Debit Credit

42,000

178,000

90,000

240,000

30,000

Explanation:

For labor and raw materials we will assign the direct cost as part of Work In Process inventory. The indirect part will be post Overhead.

All this actual cost of overhead will be debited. When doing the applied overhead we credited so the difference will tell us the over or underapplied overhead.

Applied overhead calculation:

30,000 machine hours x $8 per hour = $240,000

Then we transfer the finished goods from WIP into finished goods inventory.

The sales price will be 480,000 x (1 + 25% markup) = 600,000

For the T-accounts we will post each value of the WIP and Overhead account. Then add each column and calculate the balance considering the 42,000 beginning inventory

3 0

3 years ago