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3 years ago

Direct labor and indirect labor are recorded, respectively, to:

Business

2 answers:

torisob [31]3 years ago

8 0

Answer:

d. Work in Process Inventory and Factory Overhead.

Explanation:

Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.

Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.

ohaa [14]3 years ago

4 0

Answer:

The correct answer is letter "D": Work in Process Inventory and Factory Overhead.

Explanation:

Work In Process Inventory is the account on the company's Balance Sheet that tracks the total costs of unfinished products currently in the process of production such as direct labor or raw materials costs.

Factory overhead is the account used to record costs to be paid, even if the company is not receiving any profits from them. Without overhead expenses such as insurance, rent, employees' compensation, and accounting and legal expenditures the company would not be able to operate.

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In the market for magazines, the "income effect" means that

Assoli18 [71]

The income effect shows a change in someone or the economy's income and how it changes the quantity of a good or service. If one is making more, they are usually buying more of something. If someone is making less, they are often buying less of something.

In the market for magazines, the "income effect" means that if the price of a magian rises magazine readers will purchase less magazines.

5 0

3 years ago

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol

jolli1 [7]

Answer:

Date General Journal Debit Credit

Dec 31 Supplies expenses $2,300

(1,650+3,800-3150)

Supplies $2,300

(To record the supplies used during the period)

Dec 31 Insurance expenses $1,650

Prepaid expenses $1,650

(To record the insurance expired for December)

Dec 31 Salaries expenses $15,300

Salaries payable $15,300

(To record the unpaid salaries)

Dec 31 Deferred revenue $1,150

(3450/3 months)

Rent revenue $1,150

(To record the revenue earned during the period)

7 0

3 years ago

Explain why supply and price are positively related

pishuonlain [190]

Answer:

see below

Explanation:

A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.

Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.

6 0

3 years ago

What does the business cycle shown on this graph suggest about the condition of the economy at point A?

miv72 [106K]

Answer:

C the Ecenomy has been well for while and is

at its highest piont of the cycle

Explanation:

hope it helps

8 0

3 years ago

Current information for the Healey Company follows: Beginning raw materials inventory $ 29,200 Raw material purchases 74,000 End

Rzqust [24]

Answer:

cost of goods manufactured= $167,800

Explanation:

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

First, we need to determine the direct material used in production:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 29,200 + 74,000 - 30,600= 72,600

cost of goods manufactured= 36,400 + 72,600 + 56,800 + 44,000 - 42,000

cost of goods manufactured= $167,800

3 0

3 years ago