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horsena [70]
3 years ago
12

During January, its first month of operations, Marigold Company accumulated the following manufacturing costs: raw materials $5,

100 on account, factory labor $7,500 of which $5,800 relates to factory wages payable and $1,700 relates to payroll taxes payable, and factory utilities payable $2,900.
Business
1 answer:
Fiesta28 [93]3 years ago
6 0

Explanation:

The journal entries are as follows

1. Raw material inventory $5,100

         To Account payable $5,100

(Being the raw material is purchased on account)

2. Factory labor $5,100

       To Factory wages payable $1,700

       To Payroll tax payable $2,900

(Being the factory overhead cost is recorded)

3. Manufacturing overhead $2,900

           To Utilities payable $2,900

(Being the overhead cost is recorded)

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Workshape Manufacturing has two classes of distributors: JIT distributors and non-JIT distributors. The JIT distributor places s
yulyashka [42]

Answer:

d. $672.41 per service call

Explanation:

The computation of the activity rate for servicing goods is shown below:

= (Total servicing good cost) ÷ (Total service calls)

= $195,000 ÷ 290

= $672.41 per service call

The total service call would be

= JIT distributors + Non-JIT distributors

= 200 + 90

= 290

All other information which is given is not relevant. Hence, ignored it

6 0
3 years ago
g A price ceiling that is set below the equilibrium price _____ . Group of answer choices causes suppliers to lose money creates
Allushta [10]

Answer:

creates a shortage

Explanation:

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage

Effects of a price ceiling

1. It leads to shortages

2. it leads to the development of black markets

3. it prevents producers from raising price beyond a certain price

4. It lowers the price consumers pay for a product. This increases consumer surplus

6 0
3 years ago
Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, a
umka2103 [35]

Answer:

<u>Cash Flow</u>

year 1: cash generated in operating activities:    35,000

year 2: cash used in operating activities (28,000)

<u>Receivables:</u>

year 1: 23,000

year 2: 40,000

<u>Net Income</u>

year 1: 32,000

year 2: 59,000

Explanation:

<u></u>

Cash flow:

<u>operating activities: year 1</u>

collected from client                    170,000

salaries paid to employees        (100,000)

utilities                                           (35,000)

insurance policy                           (63,000)

cash used in operating activities (28,000)

<u>operating activities: year 2</u>

collected from client                     200,000

salaries paid to employees           (110,000)

utilities                                             (55,000)

cash generated in operating activities:    35,000

receivable:

billed - collected

year 1 receivables 193,000 - 170,000 = 23,000

year 2 receivables 240,000 - 200,000 = 40,000

<u>Income Statement year 1</u>

fees revenues 193,000

salaries           (100,000)

utilities            (40,000) (incurred cost)

insurance        (21,000)  (63,000 for three years, the value of 1 year is 21,000)

net income          32,000

<u></u>

<u>Income Statement year 2</u>

fees revenues 240,000

salaries           (110,000)

utilities            (50,000) (incurred cost)

insurance        (21,000)  (63,000 for three years, the value of 1 year is 21,000)

net income      59,000

5 0
3 years ago
An increase in the real wage would result in a:________. a. shift of the labor demand curve, causing an increase in the number o
barxatty [35]

Option C

An increase in the real wage would result in a: movement along the labor demand curve, causing a decrease in the number of workers hired by the firm.

<u>Explanation:</u>

The wage rate is circumscribed by the crossing of supply and demand for labor. The demand curve depends on the marginal product of labor and the cost of the good labor originates.

A variation in the wage or payroll will end in a shift in the amount necessitated of labor. If the wage rate increases, organizations will require to hire fewer employees. The quantity of labor demanded will decline, and there will be a movement skyward on the demand curve.

5 0
3 years ago
Follow meeeeee if girl
Dmitry_Shevchenko [17]
Heyyyyyy thanks for the points, have a nice day/night wtv :)
6 0
3 years ago
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