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melomori [17]
3 years ago
10

Watauga Office Supply paid state unemployment taxes of $168.00. What is the entry to journalize the payment of the unemployment

taxes?
Business
1 answer:
alisha [4.7K]3 years ago
7 0

Answer:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

Explanation:

The journal entry to record the payment of the unemployment taxes is shown below:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

For recording this transaction, we debited the State unemployment tax payable as it increase the liability and cash account should be credited as it reduce the current assets

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Moorman Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The
Svetlanka [38]

Answer:

<em>Overhead</em><em>:</em>

Other           18,750

Setting up   13,200

Processing 34,850

Explanation:

We multiply each activity cost pool by the rate of each department, then we add them to get the total overhead per department:

<u><em>Processing</em></u>

Depreciation: 55% x 59,000 = 32,450

Indirect labor: 30% x   8,000 =<u>   2,400  </u>

Total:                                           34,850

<u><em>Setting Up</em></u>

Depreciation: 20% x 59,000  =  11,800

Indirect labor: 20% x   8,000  =<u>   1,600  </u>

Total:                                            13,200

<u><em>Other</em></u>

Depreciation: 25% x 59,000  =  14,750‬  

Indirect labor: 50% x   8,000  =<u>  4,000  </u>

Total:                                           18,750

4 0
3 years ago
What components does a business exclude from<br> Operating surplus
raketka [301]

A business excludes money paid as salaries or wages to employees from operating surplus.

5 0
3 years ago
The cost system best suited to industries that manufacture a large number of identical units of commodities on a continuous basi
ValentinkaMS [17]

Answer:

Process Costing

Explanation:

Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.

7 0
3 years ago
Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard b
soldi70 [24.7K]

Answer:

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

Explanation:

Giving the following information:

Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce.

weighted average:

B7= 35,000/150,000= 0.23

K6= 75,000/150,000= 0.5

X9= 40,000/150,000= 0.27

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

8 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
ra1l [238]

Answer:

The answer is Monopoly

Explanation:

Monopoly describes the situation which supply of a service or commodity is controlled by a specific enterprise or person. The situation gives rise to what is known as a mopolisitic market structure.

A monopolistic market, like the term implies, describes a market that is dominated by just one company. In other words, it is just a single company that offers services and products to the public.

Being the only supplier, the company can raise prices, restrict output and enjoy super-normal profits.

4 0
3 years ago
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