Answer:
Debit Work in Process Inventory $113,000;
Debit Factory Overhead $18,000.
Explanation:
$82,000 of direct labor related is associated with assembly department.
and $31,000 of labor not directly related to the product but related to the Assembly Department as a whole . Therefore its a indirect cost means overhead
$18,000 of labor services this cost is not associated with the product, but indirectly incurred in making material to the final product. hence this cost is also part of indirect cost.
Answer:
a. True
Explanation:
In case when the cash is received from the sale, so here the total assets is increased i.e. rise in current assets that is cash account and the stockholder equity is also increased as the revenue is also increased which ultimately increased the equity
The journal entry is
Cash Dr XXXXX
To Sales revenue XXXXX
(Being cash is received is recorded)
hence, the given statement is true
There is nothing following lol
D. coping with scarcity, and choices made as a result of scarcity in a society.
<h2>Economics</h2>
- Economics is a social science that studies how products and services are produced, distributed, and consumed.
- It investigates how individuals, businesses, governments, and nations make resource allocation decisions.
- The study of economics is best described as a study of D. coping with scarcity, and choices made as a result of scarcity in a society.
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