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Crazy boy [7]
3 years ago
5

LO 4.7In a job order cost system, factory wage expense is debited to which account?

Business
1 answer:
klio [65]3 years ago
5 0

In a job order cost system, factory wage expense is debited to work in process inventory.

Explanation:

The costing of job orders is a system for assigning and accumulating production costs for a single production unit. When different produced items differ enough and each has considerable costs, the job order costing system is used.

The costs of each jobs include direct materials, direct work and production overhead in order to summarize the cost system for jobs. While the product is being produced, the process inventory includes direct materials and direct labor costs.

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Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common
Viktor [21]

Answer:

June 30, repurchase of 100 shares:

Dr Treasury stock 4,000

    Cr Cash 4,000

Explanation:

The other journal entries should be as follows

July 20, resale of 50 shares:

Dr Cash 2,300

    Cr Treasury stock 2,000

    Cr Additional paid in capital 300

August 1, resale of 20 shares:

Dr Cash 760

Dr Additional paid in capital 40

    Cr Treasury stock 800

3 0
3 years ago
Wilco LLC uses the weighted average method to determine equivalent units of production. Wilco LLC reported that in last quarter
Anika [276]

Answer:

the number of equivalent units for the production is 13,500 units

Explanation:

The computation of the number of equivalent units for the production is shown below:

Units completed and transferred  is  10,000 units

Add Ending work in the process [7,000 × 0.50] 3,500 units

Total equivalent units 13,500 units

Hence, the number of equivalent units for the production is 13,500 units

The same is relevant

4 0
2 years ago
Suzanne is excited about a black friday sale in which big-screen tvs are advertised for only $400. however, when she gets to the
mel-nik [20]

Answer:

Bait and Switch

Explanation:

Bait and switch is a deceptive sales technique that draws customers in with the promise of low prices and then "switches" to say that the promised item is not available. It is actually illegal under <em>some </em>circumstances in the United States.

8 0
3 years ago
John, a line supervisor, has decided to increase Kerry's responsibilities by delegating more work to her station. what is the fi
melomori [17]
<h2>Clarify the assignment would be the first step john should take to increase Kerry's responsibilities.</h2>

Explanation:

Option A: If a new work is assigned or an additional work is assigned, it is necessary to first explain about the new responsibility and clarify about the assignment. This would ensure Kerry to continue the work smoothly.

Option B: Feedback is always welcome but this is not the first step to add responsibilities.

Option C: Notifying others is the responsibility of John and not Kerry. So this choice is invalid.

Option D: Accountability though it is mandatory comes only in the closure part.

7 0
3 years ago
On June 1, 2019, Irene places in service a new automobile that cost $21,000. The car is used 70% for business and 30% for person
worty [1.4K]

Answer:

a.$4,704

Explanation:

Depreciation rate applicable for 2nd year as per MACRS 5 year class property = 32%

So, Irene cost recovery deduction = $21,000 * 32% * 70% = $4,704

Hence, the cost recovery deduction for Irene in 2020 is $4,704.

4 0
3 years ago
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