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zloy xaker [14]
3 years ago
15

The gross earnings of the factory workers for Larkin Company during the month of January are $91,000. The employer's payroll tax

es for the factory payroll are $7,700. The fringe benefits to be paid by the employer on this payroll are $5,100. Of the total accumulated cost of factory labor, 84% is related to direct labor and 16% is attributable to indirect labor.(a) Prepare the entry to record the factory labor costs for the month of January.(b) Prepare the entry to assign factory labor to production.
Business
1 answer:
cestrela7 [59]3 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

(a) Factory Labor/Expenses A/c Dr $103,800

        To Factory wages payable               $91,000

         To Employer payroll taxes payable $7,700

         To Fringe benefits payable              $5,100

(Being labor expenses are recorded)

(b) Direct labor A/c Dr   $87192 ($103,800 × 84%)

    Indirect labor A/c Dr $16,608 ($103,800 × 16%)

          To Factory Labor                     $103,800

(Being factor labor is assigned)

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2 years ago
Z Corp. can make three individual deliveries to three different customers at a cost of $500 each or can consolidate them into on
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Answer:

C. No, it will increase cost by $100.

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2 years ago
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A Caterpillar tractor acquired on January 12 at a cost of $171,000 has an estimated useful life of 25 years. Assuming that it wi
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Answer and Explanation:

a. The computation of depreciation for each of the first two years by the straight-line method is shown below:-

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For First year = $6,840

For Second year = $6,840

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b. The computation of depreciation for each of the first two years by the double-declining-balance method is shown below:-

First we have to determine the depreciation rate which is shown below:

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= 1 ÷ 25

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Now the rate is double So, 8%

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And, in year 2, the ($171,000 - $13,680) × 8% = $12,585.60

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3 years ago
One of Simplex Company’s products has a contribution margin of $44,000 and fixed costs totaling $54,000. If the product is dropp
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Answer:

Decrease by $27000

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Answer:

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