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mezya [45]
3 years ago
13

Harp Music Corporation manufactures violins, violas, cellos, and fiddles and uses a job-order costing system. What account shoul

d Harp debit when the production manager has earned her salary? A. Direct Labor B. Work in Process C. Manufacturing Overhead D. Salaries and Wages Receivable E. Salaries and Wages Expense
Business
1 answer:
pickupchik [31]3 years ago
7 0

Answer:

C. Manufacturing Overhead

Explanation:

Overhead production costs are all production costs associated with the cost object but not economically viable to this cost issue.E.g. the expense of machinery used during production is depreciated in the manufacturing overhead category. Manufacturing plant property taxes. Rent at the site of the plant. Support workers wages. Production managers ' wages.e.t.c

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Assume a contract for the sale of goods specifies that the seller will receive cash 20 months after delivery of a product. The s
UkoKoshka [18]

Answer:

D. Recognize interest revenue.

Explanation:

A dollar received today is worth more than a dollar received tomorrow. The seller will recognize revenue at the Present Value of the amount that he expects to get in 20 months time. That is recognize interest revenue

8 0
3 years ago
Norris Company experienced the following transactions during 2013, its first year in operation. 1. Issued $10,000 of common stoc
lions [1.4K]

Answer:

Cash flow generated from operating activities 1,300

Explanation:

collected services fees   3,900

operating expenses paid (2,600)

Cash flow generated from operating activities 1,300

the stock are financing.

the services o naccount doesn't involve cash

the dividends are financing

3 0
3 years ago
Kaelker Corporation reports that at an activity level of 7,000 units, its total variable cost is $590,730 and its total fixed co
Anestetic [448]

Answer:

$971,919

Explanation:

Total cost is the sum of fixed cost and variable cost.

Fixed cost doesn't vary with production.

Variable costs varies with production.

Total cost = Fixed cost + variable cost

Per unit variable cost =  $590,730 / 7000 = $84.39

Total variable cost = $84.39 x 7100 = $599,169 + $372,750 = $971,919

I hope my answer helps you

3 0
3 years ago
Peyton’s Palace has net income of $15 million on sales revenue of $130 million. Total assets were $96 million at the beginning o
Lelechka [254]

Answer:

See below

Explanation:

1. Returns on assets

= Annual net income ÷ Average total assets

Average total assets = beginning asset + ending assets ÷ 2

= ($80 million + $88 million) ÷ 2

= $84 miiliom

Return on assets = $13.4 million ÷ $84 million

Return on assets = $159.52

2. Profit margin

= Net income ÷ Net sales

= $13.4 million ÷ $114 million

= 11.75%

3. Assets turnover ratio

= Net sales ÷ Average total assets.

Recall Average total assets = $84 million

Average turnover ratio

= $114 million ÷ $84 million

= 1.36 times

5 0
3 years ago
Cost of Merchandise Sold Based on the following data, determine the cost of merchandise sold for November: Increase in estimated
katrin [286]

Answer:

COGS= $272,000

Explanation:

Giving the following information:

Merchandise inventory, November 1: 14,900

Merchandise inventory, November 30: 28,600

Purchases 298,200

Purchases returns and allowances 10,100

Purchases discounts 6,000

Freight in 4,200

Cost of goods purchased= purchases - Purchases returns and allowances - Purchases discounts + Freight in

Cost of goods purchased= 298,200 - 10,100 - 6,600 + 4,200

Cost of goods purchased= 285,700

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 14,900 + 285,700 - 28,600= 272,000

7 0
3 years ago
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