Productive resources are _____. A.factors that are used to make goods and services

Closing entries are not needed if adjusting entries are prepared need not be journalized if adjusting entries are prepared must

anastassius [24]

Answer: Closing entries: <u>" must be journalized and posted ".</u>

Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.

Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.

7 0

3 years ago

Label each of the items listed with the abbreviation of the financial statement on which it appears. Items may appear on more th

Zinaida [17]

1. Accounts receivable are found on the balance sheet.

2. Notes payable are found on the balance sheet.

3. Advertising expense is found on income statement

4 0

3 years ago

Read 2 more answers

Where a producer chooses the intensity level of its market coverage, which level is chosen to utilize the “shotgun” approach?

dsp73

Answer:

The level that utilizes the "shotgun" approach to market coverage is:

Intensive Distribution (mass coverage).

Explanation:

This marketing approach aims to reach many consumers through as many sales channels as possible. In this situation, consumers have easy access to the goods or services. The other approaches include Selective Distribution (where few outlets in specific locations are selected for the distribution of the goods and services) and Exclusive Distribution (where limited outlets are chosen because of the target market).

6 0

2 years ago

Degelman Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January

zaharov [31]

Answer:

Degelman Company

Job Cost Sheets:

Job 50 Job 51 Job 52

Beginning balances:

Direct materials $23,400

Direct labor $24,040

Manufacturing overhead $28,720

Direct materials 11,700 $45,630 $35,100

Direct labor 5,850 29,250 23,400

Manufacturing overhead 7,605 38,025 30,420

Total cost of Job 50 $101,315 $74,880 $88,920

Explanation:

a) Data and Calculations:

Beginning WIP: Job 50

Direct materials $23,400

Direct labor $24,040

Manufacturing overhead $28,720

Total cost of Job 50 $76,160

Finished Goods Inventory:

Completed Job No. 49 at a cost of $205,300

Raw materials $27,550

Sales of Job 49 = $142,740

Sales of Job 50 = $284,860

Manufacturing overhead:

indirect materials $19,890;

indirect labor $23,400;

depreciation expense

on equipment $14,040;

other manufacturing

overhead costs $18,720

Total overheads $76,050

Applied Overhead:

Direct Labor Overhead Applied

Job 50 5,850 $7,605

Job 51 29,250 38,025

Job 52 23,400 30,420

Total $58,500 $76,050

Overhead rate = 76,050/58,500 = $1.30

5 0

3 years ago

In August, one of the processing departments at Tsuzuki Corporation had beginning work in process inventory of $24,000 and endin

Ipatiy [6.2K]

Answer:

b. $307,000

Explanation:

Costs to be accounted in cost reconciliation report = Opening balance of work in process + Cost of production added during the month

= $24,000 + $283,000

= $307,000

Cost reconciliation report shows what costs need to be accounted for in a month and the manner in which they are actually accounted for.

It is a step in preparation of production report which shows how beginning work in process inventory and the costs which are added to production during the period are recorded.

Hence in cost reconciliation report pertaining to the month of Aug, opening work in process and costs added to production during the month are recorded.

3 0

3 years ago