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tiny-mole [99]
3 years ago
14

Juarez builders incurred $285,000 of labor costs for construction jobs completed during the month of august, of which $212,000 w

as direct and $73,000 was indirect supervisory costs. the correct journal entry to record the direct labor for the month is: debit work in process inventory $212,000; credit cash $285,000. debit work in process inventory $212,000; credit factory wages payable $212,000. debit factory wages $285,000; credit factory wages payable $285,000. debit payroll expense $212,000; credit cash $212,000. debit factory wages payable $285,000; credit work in process inventory $212,000.
Business
2 answers:
Feliz [49]3 years ago
6 0
The answer is

debit work in process inventory $212,000; credit factory wages payable $212,000.
oee [108]3 years ago
3 0

Answer:

The answer is:

Debit Work in process inventory $212, 000

            Credit Factory wages payable $212, 000

Explanation:

Direct labour costs are the labour costs that vary in proportion to the quantity of production whereas indirect labour costs do not vary with production. Owing to this, the direct labour costs are added to the Work in Process account directly while the indirect labour costs are added to the manufacturing overhead costs account. At the end of the work week, the pay rate per hour of labour worked is calculated. Then the direct and indirect labour rates are multiplied by the direct and indirect labour hours worked respectively. This amount is then posted to a Wages Payable account to reflect the amount owing to the workers. Therefore the correct entries to reflect this would be:

<u>Journal Entry 1:</u>

Debit Work in process inventory $212, 000

Debit  Factory overhead              $73, 000

                     Credit Factory wages payable      $285,000

<u>Journal Entry 2:</u>

Debit Factory wages payable  $285, 000

                                 Credit Cash                          $285, 000

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When a "bubble" arises, asset prices are driven by:
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7 0
3 years ago
Esquire Comic Book Company had income before tax of $1,000,000 in 2016 before considering the following material items:
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Answer:

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                               Income Statement

               For the Year Ended December 31, 2016

Operating income                                                $1,000,000

<u>Restructuring costs                                                 ($80,000)</u>

Income from continuing operations b/ Taxes      $920,000

<u>Income tax expense                                              ($368,000)</u>

Income from continuing operations                                        $552,000

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Income from discontinued operations                                     $90,000

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Explanation:

Income from discontinued operations must be reported separately, but any restructuring costs must be included as operational expenses.

8 0
3 years ago
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<h3>What is business organization?</h3>

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To learn more about business organization from the given link:

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5 0
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Answer:

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b. Optimum Order

Optimum Order = √( (2×Total Annual Demand×Ordering cost per order) / Holding Cost per unit)

                          = √ ((2×101×19×$39) / $8.20 ×0.21)

                          = 294.83

                          = 295

                   

4 0
3 years ago
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