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zloy xaker [14]
2 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]2 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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Answer:

 9.8%        

Explanation:

Formula;

Ke=overall cost of capital+(1-.4)(Overall cost of capital-cost of debt)

Where Ke= Cost of equity

overall cost of capital=8%

cost of debt=5%

Ke=8%+(1-.4)*(8%-5%)

Ke=8%+(1.8%)

Ke=9.8%

5 0
3 years ago
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Pandora invested in the Box Mutual Fund by purchasing 1,000 shares on November 9, Year 1. On the first day of every month, the B
mario62 [17]

Answer:

Pandora

Box Fund shares qualifying for the long-term holding period:

Total shares qualifying = 1,010

This is made up of:

Initial shares bought on Nov. 9 = 1,000

Reinvested shares on Dec. 1              5

Reinvested shares on Jan. 1               5

The remaining 55 (1,065 - 1,010) shares qualify for short-term holding periods as they lasted less than one year.

Explanation:

A long-term holding period is one year or more with no expiration. This implies that investment, including dividends paid into the account, that has a holding of less than one year will be a short-term hold.

The holding period of an investment is used to determine the taxing of capital gains or losses.

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2 years ago
How do you feel about your pizza delivery person knowing your personal information. would you order pizza from this restaurant?
jolli1 [7]
A pizza delivery person HAS to know some info about you to get to your address and more. However, if you have a restraining order against a certain delivery person, you may inform the company before ordering.
5 0
2 years ago
Preissle Company, wants to sell some 20-year, annual interest, $1,000 par value bonds. Its stock sells for $42 per share, and ea
NikAS [45]

Answer:

coupon interest rate that the company must set on the bonds in order to sell the bonds-with-warrants at par is 8.25%.

Explanation:

warrant per share = 2*75 = $150

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coupon*(1 -(1/(1.05^40)))/0.05 = 707.9543177

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Therefore, coupon interest rate that the company must set on the bonds in order to sell the bonds-with-warrants at par is 8.25%.

6 0
2 years ago
CAAT Traders acquired machinery on 1 July 20.18 for an amount of R175 300. This machinery was only available for use from 1 Sept
Ilia_Sergeevich [38]

The depreciation expenses to be shown in the statement of profit or loss and other comprehensive income for the year ended (31-05-2019) is R26,295.

<h3>What is depreciation?</h3>

Depreciation can be defined as a process in which the monetary (financial) value of an asset decreases or falls over time, especially due to wear and tear.

<h3>How to determine the depreciation expenses?</h3>

First of all, we would calculate the expected number of units produced by CAAT as follows:

Expected number of units produced = 15,000 + 13,000 + 11,000 + 10,500 + 10,500

Expected number of units produced = 60,000.

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Depreciation expenses = Actual units produced/expected units produced × cost price

Substituting the given parameters into the formula, we have;

Depreciation expenses = 9,000/60,000 × 175,300

Depreciation expenses = R26,295.

Read more on depreciation expenses here: brainly.com/question/25806993

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